Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
April 29, 2015

The big problem they were having was tax rates and the royalty rate structure in Zambia. That just got reversed to a certain extent. It continues to be one of the premier growth copper producers globally. Expects that over the coming few years, we will have global recovery, and commodity prices will be recovering. He feels Hudbay (HBM-T) is a little better positioned as it has greater exposure to zinc, which he thinks is looking better over the next 12-24 months.

Show full opinionHide full opinion

The big problem they were having was tax rates and the royalty rate structure in Zambia. That just got reversed to a certain extent. It continues to be one of the premier growth copper producers globally. Expects that over the coming few years, we will have global recovery, and commodity prices will be recovering. He feels Hudbay (HBM-T) is a little better positioned as it has greater exposure to zinc, which he thinks is looking better over the next 12-24 months.

HOLD
HOLD
April 29, 2015

This has been one of the better performing fertilizer stories. Has come off its highs recently, but it had a big run before that. Has earnings growth this year at about 13.5 times. Not super cheap, but not super expensive.

Show full opinionHide full opinion
Agrium (AGU-T)
April 29, 2015

This has been one of the better performing fertilizer stories. Has come off its highs recently, but it had a big run before that. Has earnings growth this year at about 13.5 times. Not super cheap, but not super expensive.

COMMENT
COMMENT
April 29, 2015

The organic trend is one of the biggest ones in the world right now. It is a 1% trend right now, but if you look at consumer buying intent, it could be a 15%-20% trend. This is one of his new additions.

Show full opinionHide full opinion

The organic trend is one of the biggest ones in the world right now. It is a 1% trend right now, but if you look at consumer buying intent, it could be a 15%-20% trend. This is one of his new additions.

DON'T BUY
DON'T BUY
April 29, 2015

Transferring their liquid gas business into their Enbridge Income Fund (ENF-T). Over 5 years, there has been a tremendous growth in liquids. The income fund is really more of a pure yield play, which is why it has done a little bit better. In both cases they are businesses that are tied to yields without a lot of volatility. Very richly valued. He would avoid these areas.

Show full opinionHide full opinion
Enbridge (ENB-T)
April 29, 2015

Transferring their liquid gas business into their Enbridge Income Fund (ENF-T). Over 5 years, there has been a tremendous growth in liquids. The income fund is really more of a pure yield play, which is why it has done a little bit better. In both cases they are businesses that are tied to yields without a lot of volatility. Very richly valued. He would avoid these areas.

DON'T BUY
DON'T BUY
April 29, 2015

Enbridge (ENB-T) is transferring their liquid gas business into this income fund. Over 5 years, there has been a tremendous growth in liquids. This is really more of a pure yield play, which is why it has done a little bit better. In both cases they are businesses that are tied to yields without a lot of volatility. Very richly valued. He would avoid these areas.

Show full opinionHide full opinion

Enbridge (ENB-T) is transferring their liquid gas business into this income fund. Over 5 years, there has been a tremendous growth in liquids. This is really more of a pure yield play, which is why it has done a little bit better. In both cases they are businesses that are tied to yields without a lot of volatility. Very richly valued. He would avoid these areas.

COMMENT
COMMENT
April 29, 2015

All lifecos benefit from rising interest rates. Thinks this will do better. Had a terrific move in 2013 because of rates lifting off their lows. When you get the US long bond in the 2.5%-3% range, you will see a lift off in the life insurers.

Show full opinionHide full opinion

All lifecos benefit from rising interest rates. Thinks this will do better. Had a terrific move in 2013 because of rates lifting off their lows. When you get the US long bond in the 2.5%-3% range, you will see a lift off in the life insurers.

TOP PICK
TOP PICK
April 29, 2015

Regarding the US recovery in the last 5 years, the main sector that has not been participating is the housing recovery. Expects this stems a lot from when housing had the big crash 5 years ago, so it is a sort of reluctant recovery that is going on. He is looking for the yield curve to steepen this year. The housing and job recovery has gone on long enough now that this sector in the economy is really going to start to go. Yield of 0.7%.

Show full opinionHide full opinion
Citigroup Inc. (C-N)
April 29, 2015

Regarding the US recovery in the last 5 years, the main sector that has not been participating is the housing recovery. Expects this stems a lot from when housing had the big crash 5 years ago, so it is a sort of reluctant recovery that is going on. He is looking for the yield curve to steepen this year. The housing and job recovery has gone on long enough now that this sector in the economy is really going to start to go. Yield of 0.7%.