Latest Expert Opinions

Signal
Opinion
Expert
TOP PICK
TOP PICK
September 11, 2013

This is about 50% US now. They were a bit early on acquisitions and in the right areas of Florida, New England, New York and New Jersey. Raised the dividend this past quarter. Put their insurance debacle behind them and marketed it really well. Thinks that in the next quarter they are going to split the stock 2 for 1. Yield of 3.76%. One-year target of $100 ($50).

Toronto Dominion (TD-T)
September 11, 2013

This is about 50% US now. They were a bit early on acquisitions and in the right areas of Florida, New England, New York and New Jersey. Raised the dividend this past quarter. Put their insurance debacle behind them and marketed it really well. Thinks that in the next quarter they are going to split the stock 2 for 1. Yield of 3.76%. One-year target of $100 ($50).

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$90.790
Owned
Yes
TOP PICK
TOP PICK
September 11, 2013

Recent acquisitions make it half US and half Canadian lumber. Canadian side, in BC, goes to Asia. The purchases of lumber mills are all in the southeast US. Good balance sheet. Family has announced they are renouncing their multi-voting stock, so the company is now open to a possible takeover. Feels that $15-$16 would be the takeover price, which could be bonus.

Interfor Corp (IFP-T)
September 11, 2013

Recent acquisitions make it half US and half Canadian lumber. Canadian side, in BC, goes to Asia. The purchases of lumber mills are all in the southeast US. Good balance sheet. Family has announced they are renouncing their multi-voting stock, so the company is now open to a possible takeover. Feels that $15-$16 would be the takeover price, which could be bonus.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$12.480
Owned
Yes
TOP PICK
TOP PICK
September 11, 2013

Natural gas. Going to double production over the next 12-18 months so that by the end of 2014, they will be producing twice what they are now. Good entry point because price is a little soft due to storage filling up in Alberta and the AECO spot has gotten hit. Expecting $42 a year from now.

Paramount Resources (POU-T)
September 11, 2013

Natural gas. Going to double production over the next 12-18 months so that by the end of 2014, they will be producing twice what they are now. Good entry point because price is a little soft due to storage filling up in Alberta and the AECO spot has gotten hit. Expecting $42 a year from now.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$32.940
Owned
Yes
HOLD
HOLD
September 11, 2013

This is his only gold holding. Likes their production growth. Thinks gold is weak into the taper and maybe after. Longer-term he feels it has an NAV of over $10 and it will get there in time. Thinks it will grow through a flattish outlook and would be a buyer if gold drops to $1200 again and stocks go way back from where they are. $5.25 would be a place to add.

Argonaut Gold (AR-T)
September 11, 2013

This is his only gold holding. Likes their production growth. Thinks gold is weak into the taper and maybe after. Longer-term he feels it has an NAV of over $10 and it will get there in time. Thinks it will grow through a flattish outlook and would be a buyer if gold drops to $1200 again and stocks go way back from where they are. $5.25 would be a place to add.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$6.120
Owned
Yes
COMMENT
COMMENT
September 11, 2013

It needs to grow because the valuation is quite high. There isn’t much of a dividend. This is one of those that is priced for perfection. As long as they can grow like they are doing currently, the stock is okay. If it never misses, there will be a pretty sizable dip and that might be an entry point.

Dollarama Inc. (DOL-T)
September 11, 2013

It needs to grow because the valuation is quite high. There isn’t much of a dividend. This is one of those that is priced for perfection. As long as they can grow like they are doing currently, the stock is okay. If it never misses, there will be a pretty sizable dip and that might be an entry point.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$79.650
Owned
Unknown
BUY WEAKNESS
BUY WEAKNESS
September 11, 2013

What is interesting about this is that they sold Rite Ade recently so they have about $500 million in cash. Then you have the Loblaw’s (L-T) and Sobeys’s, Safeway. Metro is saying they could do something maybe. He thinks it is possible that Metro can buy this company. He would not want to buy something just for that though. This one is on his watch list for $17.50.

What is interesting about this is that they sold Rite Ade recently so they have about $500 million in cash. Then you have the Loblaw’s (L-T) and Sobeys’s, Safeway. Metro is saying they could do something maybe. He thinks it is possible that Metro can buy this company. He would not want to buy something just for that though. This one is on his watch list for $17.50.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$18.280
Owned
No
COMMENT
COMMENT
September 11, 2013

Manitoba Tel (MBT-T) or Telus (T-T)? The market has now changed a little bit in its outlook since interest rates have started to rise. On the equity side, you can’t just buy something for yield anymore because the stock price might go down because we need a higher yield to price the stock in a higher interest rate environment. Therefore, you need yield plus growth. Today, Telus has better growth than Manitoba Tel.

Manitoba Tel (MBT-T) or Telus (T-T)? The market has now changed a little bit in its outlook since interest rates have started to rise. On the equity side, you can’t just buy something for yield anymore because the stock price might go down because we need a higher yield to price the stock in a higher interest rate environment. Therefore, you need yield plus growth. Today, Telus has better growth than Manitoba Tel.

Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$33.420
Owned
No