Latest Expert Opinions

Signal
Opinion
Expert
WATCH
WATCH
September 13, 2013

Likes this name quite well. Over the last 2-3 quarters, they have disappointed in terms of guidance. Very large land base and have only started putting pieces together. Over the longer-term, if execution turns out well, the stock will be rewarded with higher valuations. She is on the sideline and just watching their execution to see if management can deliver. (Host comment: Street consensus is that the stock will be $1.63 in the next 12 months.)

Likes this name quite well. Over the last 2-3 quarters, they have disappointed in terms of guidance. Very large land base and have only started putting pieces together. Over the longer-term, if execution turns out well, the stock will be rewarded with higher valuations. She is on the sideline and just watching their execution to see if management can deliver. (Host comment: Street consensus is that the stock will be $1.63 in the next 12 months.)

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$1.000
Owned
No
HOLD
HOLD
September 13, 2013

Very well loved name and rightly so because they have one of the lowest costs in the sector. Still making money at current prices. However, this stock has always been expensive. If the view is positive on natural gas, then it will probably move up. However, AECO is currently trading at a huge discount compared to NYMEX and so in the upcoming quarter there may be a little bit of risk and disappointment on the cash flow front. Alternatively, Encana (ECA-T) would be an interesting gas play as they are looking at strategic alternatives to turn the company around. Trading roughly at about 4X cash flow and debt is reasonable at about 2X. There is talk about them eliminating their dividend and if that happens, this would be a case of Buy on Weakness.

Tourmaline Oil Corp (TOU-T)
September 13, 2013

Very well loved name and rightly so because they have one of the lowest costs in the sector. Still making money at current prices. However, this stock has always been expensive. If the view is positive on natural gas, then it will probably move up. However, AECO is currently trading at a huge discount compared to NYMEX and so in the upcoming quarter there may be a little bit of risk and disappointment on the cash flow front. Alternatively, Encana (ECA-T) would be an interesting gas play as they are looking at strategic alternatives to turn the company around. Trading roughly at about 4X cash flow and debt is reasonable at about 2X. There is talk about them eliminating their dividend and if that happens, this would be a case of Buy on Weakness.

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$42.750
Owned
Unknown
HOLD
HOLD
September 13, 2013

Operates in Nigeria, so there is obviously country risk. It is always cheap. Although she hasn’t looked at valuations for a while, it depends on the declines of the wells but these wells come on significantly strong.

Mart Resources Inc (MMT-T)
September 13, 2013

Operates in Nigeria, so there is obviously country risk. It is always cheap. Although she hasn’t looked at valuations for a while, it depends on the declines of the wells but these wells come on significantly strong.

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$1.430
Owned
Unknown
PARTIAL BUY
PARTIAL BUY
September 13, 2013

Likes this. Valuation is very cheap. Company amalgamated a few different businesses and one of the most interesting one is trucks that heat pipes that go into the ground to prevent them from bending, which saves piping companies a lot of money. Demand for this is huge. Trading at very cheap valuations. If you are buying, stage your purchases with the hope that the stock comes down to $0.60. She could see this stock getting to $2. (Host comment: 2 analysts only, one showing $2 and the other $0.85.)

Enterprise Group (E-T)
September 13, 2013

Likes this. Valuation is very cheap. Company amalgamated a few different businesses and one of the most interesting one is trucks that heat pipes that go into the ground to prevent them from bending, which saves piping companies a lot of money. Demand for this is huge. Trading at very cheap valuations. If you are buying, stage your purchases with the hope that the stock comes down to $0.60. She could see this stock getting to $2. (Host comment: 2 analysts only, one showing $2 and the other $0.85.)

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$0.780
Owned
No
COMMENT
COMMENT
September 13, 2013

Have started production. Feels that gold has to come down more before it goes up. Their average cash cost is about $800. If gold holds up above $1100-$1200 this is attractive.

Detour Gold (DGC-T)
September 13, 2013

Have started production. Feels that gold has to come down more before it goes up. Their average cash cost is about $800. If gold holds up above $1100-$1200 this is attractive.

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$10.010
Owned
Unknown
COMMENT
COMMENT
September 13, 2013

At $1400-$1500 gold, they still have to develop their underground mine, which has been challenging. At current gold levels, investors are probably dumping the stock because prospects could get more difficult. You need gold prices to make a dramatic turn and she doesn’t expect this for the next 2 years anyway.

At $1400-$1500 gold, they still have to develop their underground mine, which has been challenging. At current gold levels, investors are probably dumping the stock because prospects could get more difficult. You need gold prices to make a dramatic turn and she doesn’t expect this for the next 2 years anyway.

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$0.160
Owned
Unknown
SELL
SELL
September 13, 2013

With the uncertainty of the gold space, she would tend to gravitate towards higher-quality names such as Franco-Nevada (FNV-T). The last couple of deals they have done have caused some investors to step back.

Sandstorm Gold Ltd. (SSL-T)
September 13, 2013

With the uncertainty of the gold space, she would tend to gravitate towards higher-quality names such as Franco-Nevada (FNV-T). The last couple of deals they have done have caused some investors to step back.

Alice Tsang
Portfolio Manager, Marquest Asset Management
Price
$5.710
Owned
Unknown