Latest Expert Opinions

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
January 9, 2019
(A Top Pick Jan 17/18, Down 5%) Believe in strategy and management team and the assets (royalties). Way to get exposure to gold, which he's constructive on, without exposure to mining companies. Likes that they're diversifying away from gold. Delivering great year over year growth. Developing one of the biggest copper mines in the world. Continues to buy.
(A Top Pick Jan 17/18, Down 5%) Believe in strategy and management team and the assets (royalties). Way to get exposure to gold, which he's constructive on, without exposure to mining companies. Likes that they're diversifying away from gold. Delivering great year over year growth. Developing one of the biggest copper mines in the world. Continues to buy.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$92.270
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 9, 2019
(A Top Pick Jan 17/18, Down 10%) Didn't pay off last year, but none of the banks did. Likes it because they deployed a lot of capital.
(A Top Pick Jan 17/18, Down 10%) Didn't pay off last year, but none of the banks did. Likes it because they deployed a lot of capital.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$70.470
Owned
Yes
DON'T BUY
DON'T BUY
January 9, 2019
Produce oil upstream and refine it. Stock under pressure since 2014, as most oil companies. Financially strong. Insulated from weak or declining oil prices, as they're integrated. Not enamoured with their asset base or their management, as they are with Suncor. Want to be careful with your exposure to the oil patch. Pipeline shortage and WTI discount are issues. Integrated companies like this are better than pure-play.
Imperial Oil(IMO-T)
January 9, 2019
Produce oil upstream and refine it. Stock under pressure since 2014, as most oil companies. Financially strong. Insulated from weak or declining oil prices, as they're integrated. Not enamoured with their asset base or their management, as they are with Suncor. Want to be careful with your exposure to the oil patch. Pipeline shortage and WTI discount are issues. Integrated companies like this are better than pure-play.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$35.280
Owned
No
HOLD
HOLD
January 9, 2019
Meteoric run from buying cast-off assets, which bolstered earnings and cash flow. Selloff is just markets getting jittery and realizing gains on winners. Nothing broken. Consolidators and operators of gas stations are good business, good ROE. You can be a comfortable long-term owner. His preference is Alimentation Couche-Tard.
Parkland Fuel Corp(PKI-T)
January 9, 2019
Meteoric run from buying cast-off assets, which bolstered earnings and cash flow. Selloff is just markets getting jittery and realizing gains on winners. Nothing broken. Consolidators and operators of gas stations are good business, good ROE. You can be a comfortable long-term owner. His preference is Alimentation Couche-Tard.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$35.080
Owned
No
DON'T BUY
DON'T BUY
January 9, 2019
Wouldn't buy it now, though used to be a core holding. Sold it last year. Concern that auto sales cycle has rolled over. Reticent to invest in auto sector in general, and Magna in particular.
Magna Int'l. (A)(MG-T)
January 9, 2019
Wouldn't buy it now, though used to be a core holding. Sold it last year. Concern that auto sales cycle has rolled over. Reticent to invest in auto sector in general, and Magna in particular.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$64.830
Owned
No
DON'T BUY
DON'T BUY
January 9, 2019

Doesn't own any of the marijuana producers, as the fundamentals don't warrant the prices. There will be a day of reckoning, which has probably already started. Large producers peaked before legalization, the small ones peaked last January/February. Reality check when these companies start missing sales and EBITDA, and the air pocket beneath the share price collapses, with a 50-60-70% downside. He'll reconsider when the dust settles, but that day is not today. (Analysts’ price target is $9.25)

Hexo Corp(HEXO-T)
January 9, 2019

Doesn't own any of the marijuana producers, as the fundamentals don't warrant the prices. There will be a day of reckoning, which has probably already started. Large producers peaked before legalization, the small ones peaked last January/February. Reality check when these companies start missing sales and EBITDA, and the air pocket beneath the share price collapses, with a 50-60-70% downside. He'll reconsider when the dust settles, but that day is not today. (Analysts’ price target is $9.25)

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$6.350
Owned
No
HOLD
HOLD
January 9, 2019
Good time to take profits? You want to let your winners run in this case. Yes, it's at a new 52-week high, but the breakout from the base of 3 years' duration is pretty powerful. Valuation has compressed significantly. Cheaper on P/E than Parkland, and has more levers to pull for geographic expansion. Margins are very strong, which will benefit from falling oil prices in US.
Good time to take profits? You want to let your winners run in this case. Yes, it's at a new 52-week high, but the breakout from the base of 3 years' duration is pretty powerful. Valuation has compressed significantly. Cheaper on P/E than Parkland, and has more levers to pull for geographic expansion. Margins are very strong, which will benefit from falling oil prices in US.
Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$70.580
Owned
Yes