Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
July 27, 2016

As the Cdn$ got so cheap, he was more concerned about buying things here first, in Cdn$ terms, because then he gets the bounce in Cdn$ which gives you a gain in oil, but also a currency kick.

As the Cdn$ got so cheap, he was more concerned about buying things here first, in Cdn$ terms, because then he gets the bounce in Cdn$ which gives you a gain in oil, but also a currency kick.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$53.950
Owned
Unknown
COMMENT
COMMENT
July 27, 2016

This can become a great Canadian mid-cap producer in 2-3 years’ time, and then you get the valuation bump as well. However, with what they actually have today, the stock is expensive. The other problem is that they have had a run. Gold has had the run, and the Cdn$ has had the run at the Cdn$ gold price. Because of that, he is cautious at this time.

This can become a great Canadian mid-cap producer in 2-3 years’ time, and then you get the valuation bump as well. However, with what they actually have today, the stock is expensive. The other problem is that they have had a run. Gold has had the run, and the Cdn$ has had the run at the Cdn$ gold price. Because of that, he is cautious at this time.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$19.820
Owned
Unknown
COMMENT
COMMENT
July 27, 2016

He loves this at $15. Because other people drill their land, you don’t quite know how the world is going to play out. The gas market has had a great jump in gas, and this looks a lot better. It is a great thing to own long-term, but he would just like to try and steal it if he can be patient. He came within $2 in the spring.

He loves this at $15. Because other people drill their land, you don’t quite know how the world is going to play out. The gas market has had a great jump in gas, and this looks a lot better. It is a great thing to own long-term, but he would just like to try and steal it if he can be patient. He came within $2 in the spring.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$24.970
Owned
No
COMMENT
COMMENT
July 27, 2016

A very consistent company over time, and construction is relatively consistent. This is all about their future book. They have debt outstanding. Sometimes the market gets really worried that they have debt, but he thinks it is a very solvent company. It seems hard for the company to grow dramatically, so in really bad times, he is able to buy the bonds with about an 8% yield. Any time the stock is $9-$10, it is interesting, but on a risk/reward basis, where he can buy the bond at 8% it is an incredible way to invest. He just sold his bonds which he felt were fully valued.

A very consistent company over time, and construction is relatively consistent. This is all about their future book. They have debt outstanding. Sometimes the market gets really worried that they have debt, but he thinks it is a very solvent company. It seems hard for the company to grow dramatically, so in really bad times, he is able to buy the bonds with about an 8% yield. Any time the stock is $9-$10, it is interesting, but on a risk/reward basis, where he can buy the bond at 8% it is an incredible way to invest. He just sold his bonds which he felt were fully valued.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$17.180
Owned
No
COMMENT
COMMENT
July 27, 2016

If there was a tight group of 5 companies that he would find investable right now, this would be in the next level up. Their projects are good, but he never gets a feeling they are super fantastic.

New Gold Inc. (NGD-T)
July 27, 2016

If there was a tight group of 5 companies that he would find investable right now, this would be in the next level up. Their projects are good, but he never gets a feeling they are super fantastic.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$6.290
Owned
No
COMMENT
COMMENT
July 27, 2016

Going back 3 years, we had an incredible bull market in gold. All sorts of properties that probably shouldn’t have gone into production, went into production. Huge amounts of money got spent in the industry with not really an internal rate of return. The whole gold sector has bounced back. This one is a whole mixed bag, and to go into all those projects that they acquired at the height of the bull market, there are some real question marks.

Going back 3 years, we had an incredible bull market in gold. All sorts of properties that probably shouldn’t have gone into production, went into production. Huge amounts of money got spent in the industry with not really an internal rate of return. The whole gold sector has bounced back. This one is a whole mixed bag, and to go into all those projects that they acquired at the height of the bull market, there are some real question marks.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$7.050
Owned
No
PAST TOP PICK
PAST TOP PICK
July 27, 2016

(A Top Pick July 28/15. Up 48.84%.) He was playing defence on these 3 stocks picks, just looking for a way not to get creamed. This has now become a hot stock, so he is no longer in it. Dividend yield of about 3%.

Boralex Inc. (BLX-T)
July 27, 2016

(A Top Pick July 28/15. Up 48.84%.) He was playing defence on these 3 stocks picks, just looking for a way not to get creamed. This has now become a hot stock, so he is no longer in it. Dividend yield of about 3%.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$19.560
Owned
No