MI.UN-T 0.33 DRVN-Q 0 SWIM-Q 0 TOL-N -0.07 NOG-N -0.26 CPA-N -0.03 PBH-T 1.49
Daily Stock Opinions and Ratings

Latest Stock Buy or Sell? Make More Informed Decisions!

Today, Andrew McCreath and John Stephenson commented about whether AQN-T, ARX-T, TRP-T, IMO-T, PMT-T, TDG-T, CPG-T, HSE-T, CR-T, RIG-N, CMT-T, BNK-T, DAY-T, GTE-T, NXY-T, CLC-T, PMG-T, RE-T, POU-T, ERF-T, AAV-T, ALA-T, PAR-T, QEC-T, BTE-T, CASH, HES-N, ECA-T, CNQ-T, TLM-T, NMC-T, ABX-T, Y-T, LEG-T, NSRGY-OTC, ECA-T, TRP-T, CASH, VALE-N, CLM-T, PRE-T are stocks to buy or sell.

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COMMENT

A Comment -- General Comments From an Expert(A Commentary)

Sep 28, 2009
Market Neutral Investing. Security delivers returns. 1) Income via interest, dividend etc. 2) movement in security price related to the movement of the stock market (Beta) and 3) movement security price specific to fundamentals going on at the company (Alpha). Eliminate the Beta and isolate the Alpha. E.G. If Long and Short 2 gold stocks he wants the company that is Long to deliver positive surprise such as lower costs, increased production. Shorts the company he doesn't like. This illuminates the Beta.
Andrew McCreathAndrew McCreath
Unknown
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TOP PICK

Pacific Exploration & Production.(PRE-T)

Sep 28, 2009
Will exit with about 45-50 thousand BOEs a day of heavy oil production in Colombia and believes it will grow 40-45 thousand for each of the next few years. 250 million barrels of reserves and believes there is the potential for this to quadruple over the next 12-15 months. Also feels it may attract investment from Asia. He is Long this and has shorted about $.75 of the U.S. Oil Fund E.T.F. (USO-N) for every $1 of this one.
Andrew McCreathAndrew McCreath
Owned
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$13.650

Stock price when the opinion was issued

oil gas
TOP PICK

Consolidated Thompson Iron Mines Ltd.(CLM-T)

Sep 28, 2009
(A Top Pick Aug 18/09. Up 11.75%.) Pairs trade with Vale (VALER-N). Iron ore operation in Quebec and just going into production. Believes potential to cash flow more than $3 a share in 2011. Fully financed. Expect them to acquire a nearby facility that will catalyze production growth in the next 18 months and cut capital spending.
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$5.320

Stock price when the opinion was issued

metal mines
TOP PICK

Vale S.A.(VALE-N)

Sep 28, 2009
Top Short Pairs trade with Consolidated Thompson Iron Mines (CLM-T). Trading at more than 10X next year's cash flow and 15%-20% of revenues are from nickel that he doesn't like. Nickel is currently around $8.50 and expects a ceiling of $10-$11.
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$23.010

Stock price when the opinion was issued

other mines
TOP PICK

CASH(CASH)

Sep 28, 2009
(A Top Pick Aug 18/09. N/A.) Market is discounting a V shaped recovery predicated upon large amounts of fiscal stimulus and even greater amounts of monetary stimulus. Feels both of these stimuli will begin to wane once we get into the summer of 2010 (?) and he expects a square root recovery. He recommends 25%-30%.
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$0.010

Stock price when the opinion was issued

0
PAST TOP PICK

TC Energy(TRP-T)

Sep 28, 2009
(A Top Pick Aug 18/09. Up 7.68%.)
Andrew McCreathAndrew McCreath
No
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$33.200

Stock price when the opinion was issued

oil gas pipelines
COMMENT

Encana Corp(ECA-T)

Sep 28, 2009
Splitting between their oil and gas assets. Feels they are hoping for higher valuations for each part by having pure plays. Both of those individual companies become takeover targets.
Andrew McCreathAndrew McCreath
No
Unlock Rating
$61.570

Stock price when the opinion was issued

oil gas
COMMENT

Nestle(NSRGY-OTC)

Sep 28, 2009
Nestles. When looking at foreign stocks, you have to take into account what will occur with Cdn$ and have to be very careful. This is a low growth, solid world-class company but he would prefer US companies like General Mills (GIS-N) or Proctor & Gamble (PG-N) that have been much more aggressive at cutting costs and raising prices in the last year.
Andrew McCreathAndrew McCreath
Unknown
Unlock Rating
$0.001

Stock price when the opinion was issued

food processing
BUY

Legacy Oil and Gas Inc.(LEG-T)

Sep 28, 2009
Converting the B shares to A. Buy now or wait? Really likes the management. If you buy don't do it as a Trade. You are buying management so give them a couple of years to accrete more value.
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$1.770

Stock price when the opinion was issued

oil gas
SELL

Yellow Pages Limited(Y-T)

Sep 28, 2009
Recently had a significant lift as a result of their refinancing. This gives you an opportunity to Sell because it is a declining business.
Andrew McCreathAndrew McCreath
No
Unlock Rating
$5.530

Stock price when the opinion was issued

communications media
COMMENT

A Comment -- General Comments From an Expert(A Commentary)

Sep 28, 2009
Short bank stocks (ETF’s) and Long gold stocks. Good strategy? Not something he would do. He would go Long and Short bank stocks. Currently he’s long Bank of Nova Scotia (BNS-T) and Commerce (CM-T) and Short Royal (RY-T) and TD (TD-T). 6 weeks ago the picture was different. In gold he is Long Barrick (ABX-T) and Short Newmont (NMC-T). Wants to stay in the same sector to hedge out the industry Beta’s and isolate Alpha’s in the companies.
Andrew McCreathAndrew McCreath
Unknown
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BUY

Barrick Gold(ABX-T)

Sep 28, 2009
Favourite gold recently was Iamgold (IMG-T) but recently has been a lot of speculation that Newmont (NMC-T) was going to buy it so it got expensive. This company raised $4 billion to clear their heads book, which had always harmed valuations. Unhedged there is potential for a marginally higher valuation. (Pair Traded with a Short on Newmont (NMC-T).)
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$39.540

Stock price when the opinion was issued

precious metals
COMMENT

Newmont Mining(NMC-T)

Sep 28, 2009
Have to de-consolidate Indonesian operations, which will create significant downward pressure on cash flow. Will also have to make a large acquisition that he thinks will be dilutive. (Pair traded with a Long on Barrick (ABX-T).)
Andrew McCreathAndrew McCreath
Owned
Unlock Rating
$46.320

Stock price when the opinion was issued

precious metals
BUY

Talisman Mining Ltd(TLM-T)

Sep 28, 2009
About 50/50 oil and gas. New management has sold off a bunch of conventional gas assets and are moving more towards unconventional gas. Market hasn't decided if this is going to work or not. A cheap stock but for a reason. Potential for a higher rating as the market sees the new team is doing the right thing.
Andrew McCreathAndrew McCreath
No
Unlock Rating
$18.660

Stock price when the opinion was issued

oil gas
TOP PICK

Canadian Natural Rsrcs(CNQ-T)

Sep 28, 2009
(A Top Pick Sept 22/08. Down 13%.) Likes its torque to the Horizon oil sands project. Has completed phase 1 and has done really well. Coming in on time, on budget and with production upside. Will have a lot of growth.
John StephensonJohn Stephenson
Owned
Unlock Rating
$73.440

Stock price when the opinion was issued

oil gas

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