Latest Expert Opinions

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
August 4, 2015

(A Top Pick Aug 26/14. Down 22.64%.) Their co-generation plant in Belleville was working full time, but now it effectively is on retainer. It is a backup plant, which hurts the cash flow. They have Bristol Water in Britain and the government regulator knocked down the price the company was going to get by 5%, and is going to go down another 20% for the following 4 years. The company is appealing and hopefully will get a rate increase. Payout ratio is very high at over 100%, so obviously not sustainable. Have about $62 million in the bank, so they feel they can pay it for the next couple of years, and then will get down to about a 70%-80% payout ratio. Dividend of almost 10% is holding up the stock price, and he doesn’t think they will cut the dividend in the near future.

(A Top Pick Aug 26/14. Down 22.64%.) Their co-generation plant in Belleville was working full time, but now it effectively is on retainer. It is a backup plant, which hurts the cash flow. They have Bristol Water in Britain and the government regulator knocked down the price the company was going to get by 5%, and is going to go down another 20% for the following 4 years. The company is appealing and hopefully will get a rate increase. Payout ratio is very high at over 100%, so obviously not sustainable. Have about $62 million in the bank, so they feel they can pay it for the next couple of years, and then will get down to about a 70%-80% payout ratio. Dividend of almost 10% is holding up the stock price, and he doesn’t think they will cut the dividend in the near future.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$3.040
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 4, 2015

(A Top Pick Aug 26/14. Down 67.61%.) This has lots of problems. Production price is about $12.50 an ounce, which is high. They are trying to work on their mines and get the cost lower. Having difficulty with labour which is asking for a 60% wage increase. CEO is looking for a replacement. Have a wonderful play in Papua New Guinea of gold/copper, but can’t really finance it at this time. Potentially they could go under, but he is willing to continue holding as it has a lot of upside if gold goes up. Very, very dangerous.

(A Top Pick Aug 26/14. Down 67.61%.) This has lots of problems. Production price is about $12.50 an ounce, which is high. They are trying to work on their mines and get the cost lower. Having difficulty with labour which is asking for a 60% wage increase. CEO is looking for a replacement. Have a wonderful play in Papua New Guinea of gold/copper, but can’t really finance it at this time. Potentially they could go under, but he is willing to continue holding as it has a lot of upside if gold goes up. Very, very dangerous.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$0.990
Owned
Yes
COMMENT
COMMENT
August 4, 2015

If you have gainer to write it off against, you might think about taking a tax loss. Thinks it has a good chance of going up. They have hedges on a lot of their oil/gas. A lot of them ran out last year. Their oil is hedged at over $90, but that will continue. They are looking to sell some of their properties. He likes management, but they really have not done well over the last number of years. He is not going to sell his holdings, but he can understand why somebody would, and perhaps buy back later in the year.

Pengrowth Energy(PGF-T)
August 4, 2015

If you have gainer to write it off against, you might think about taking a tax loss. Thinks it has a good chance of going up. They have hedges on a lot of their oil/gas. A lot of them ran out last year. Their oil is hedged at over $90, but that will continue. They are looking to sell some of their properties. He likes management, but they really have not done well over the last number of years. He is not going to sell his holdings, but he can understand why somebody would, and perhaps buy back later in the year.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$1.980
Owned
Yes
COMMENT
COMMENT
August 4, 2015

On his Stock Watch list. Pays a lovely dividend of about 8%. Have done a number of takeovers in the past few years, and often have taken over older technology, but you can still make a lot of money on that. He likes the company, but not enough to buy. Has a pretty heavy debt load that you have to be wary of.

On his Stock Watch list. Pays a lovely dividend of about 8%. Have done a number of takeovers in the past few years, and often have taken over older technology, but you can still make a lot of money on that. He likes the company, but not enough to buy. Has a pretty heavy debt load that you have to be wary of.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$5.250
Owned
No
COMMENT
COMMENT
August 4, 2015

Likes silver at these prices, so the question is, what would be a good silver company to pick up. He does almost all of his buying at the end of the year, so he won’t be looking at this now. The name has a lot going for it. Pretty clean in terms of the financial statements. If silver goes up this can do better. The all-in price that they mine at is pretty reasonable. This has quite a bit of potential and has good properties.

Likes silver at these prices, so the question is, what would be a good silver company to pick up. He does almost all of his buying at the end of the year, so he won’t be looking at this now. The name has a lot going for it. Pretty clean in terms of the financial statements. If silver goes up this can do better. The all-in price that they mine at is pretty reasonable. This has quite a bit of potential and has good properties.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$8.130
Owned
No
DON'T BUY
DON'T BUY
August 4, 2015

Just reported quarterly results and the stock dropped. Has been wrong on this for years and had thought the tide would turn a lot earlier. Technology is a very, very difficult sphere. With many companies, what appears to be leading-edge technology, after while is no longer. He has been waiting for when this company starts to have some difficulty with their technology perhaps, and saturates the marketplace. At some point he thinks it could really get hammered. They are clear leaders in their field. Have taken on debt, and when you have as much money as they do, why do that? He would be wary of buying this.

Apple(AAPL-Q)
August 4, 2015

Just reported quarterly results and the stock dropped. Has been wrong on this for years and had thought the tide would turn a lot earlier. Technology is a very, very difficult sphere. With many companies, what appears to be leading-edge technology, after while is no longer. He has been waiting for when this company starts to have some difficulty with their technology perhaps, and saturates the marketplace. At some point he thinks it could really get hammered. They are clear leaders in their field. Have taken on debt, and when you have as much money as they do, why do that? He would be wary of buying this.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$114.640
Owned
No
COMMENT
COMMENT
August 4, 2015

Thinks at some point they may be able to grow their revenue. John Chen did very well in the past at Sybase. There was a turnaround there and a take out. The bigger the boat is, the longer it takes to turn. He is happy holding this, but is not looking for anything happening quickly.

BlackBerry(BB-T)
August 4, 2015

Thinks at some point they may be able to grow their revenue. John Chen did very well in the past at Sybase. There was a turnaround there and a take out. The bigger the boat is, the longer it takes to turn. He is happy holding this, but is not looking for anything happening quickly.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$10.020
Owned
Yes