SELL
Sell NGT to buy AEM?

He'd go with that strategy. He's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back.  

The two biggest names, NGT and ABX, have really shown miserable production growth. Underperformed the group for a number of years now. They don't have the growth assets and their size means they can't accelerate as much. AEM is the new top senior.

SELL

He's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. The two biggest names, NGT and ABX, have really shown miserable production growth. Underperformed the group for a number of years now. They don't have the growth assets and their size means they can't accelerate as much. 

PARTIAL SELL

The new top senior. Great acquisition, cashflow is growing, more reasonable valuation than in past. He's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. So he's waiting to see how things shake out.

PARTIAL SELL

This name is further down the food chain. Take a look at the more interesting mid-size players. Still, he's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. So he's waiting to see how things shake out.

PARTIAL SELL

This name is further down the food chain. Take a look at the more interesting mid-size players. Still, he's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. So he's waiting to see how things shake out.

PARTIAL SELL

This name is further down the food chain. Take a look at the more interesting mid-size players. Still, he's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. So he's waiting to see how things shake out.

PARTIAL SELL

This name is further down the food chain. Take a look at the more interesting mid-size players. Still, he's been lightening up on gold. With a strong USD, and interest rates possibly being higher, gold may take a few steps back. So he's waiting to see how things shake out.

BUY
Yield ~6%, new CEO.

Uncertainty of China next door is probably the most important issue, potential hotspot. He's been adding recently. Likes the dividend yield. Valuations in the sector have come down a long way, won't get US government support. Has a lot of international growth assets. Really good operators. 

COMMENT
Renewable energy.

Nice thing about the sector is that once you get the capital costs out of the way, the operating costs aren't that significant. Input costs of wind and sun are nothing. There are, of course, maintenance costs. They become very strong cashflow generators, which will come back to shareholders.

PAST TOP PICK
(A Top Pick Nov 27/23, Up 59%)

Buying value in technology is often a misstep, but this one came through. Has resurrected growth in a few areas. Venmo has helped. Had a nice move, so he took his $$ off the table.

PAST TOP PICK
(A Top Pick Nov 27/23, Up 37%)

Steady eddy. Lots of downside protection, which is what he's looking for right now. He even added some recently. Defensive, low valuation, growth potential. More east to west, rather than north to south (which may see some volatility with the new US administration).

Likes the pipeline names, and this is at the top of his list.

PAST TOP PICK
(A Top Pick Nov 27/23, Down 17%)

Everything that could go wrong, has. Potential tariffs of 25%. Concerns about capex needed for EVs. Now trading at 3x operating cashflow, 7-8 forward PE. Doing the right things, great backlog, European exposure. Still likes the story, sticking with it. 

SELL

Good move recently. Benefiting from capital infrastructure spends in Ontario, and this will continue to increase. Nothing wrong with the name, but there are cheaper plays like ATRL and NOA. See his Top Picks.

BUY

A cheap play in the space. See his Top Picks.

COMMENT
Portfolio construction.

You have your high-impact and growth-oriented portion for trading. Other areas where you have good value, but you need to patient as it works out. Some Canadian energy stocks fit the value bill very well right now.