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| PAST TOP PICK | 45.690 | Michael Sprung | (A Top Pick Jan 14/11. Up 14.63%.) | 2012-01-23 | |
| BUY | 44.890 | Norman Levine | Doesn’t worry about short term. This is a growth stock. He doesn’t see a problem with this one. It is the best run of the gold companies. This is a good one to own. | 2012-01-19 | |
| PAST TOP PICK | 46.450 | Gavin Graham | (A Top Pick Feb 7/11. Up 13.82%.) Has growth in production for the new mines they have coming on in Chile, Argentina and Dominican Republic. Growing from 2.5 million ounces to 4.2 million by 2016. At effectively linked it dividend be a falling comment | 2012-01-13 | |
| BUY on WEAKNESS | 45.830 | Ross Healy | Would like to see them a little bit cheaper before being interested in it. Had a cap on it of 2 times book value for some time. If that is a peak he would like to buy it cheaper (2 or 3 dollars cheaper than here). Prefers other gold stocks at this time. | 2012-01-10 | |
| WEAK BUY | 45.830 | Michael Smedley | Relatively low cost production. Gold is going to stay in a descent trading range at the very least. Forecasts average of $1800 for gold so it has a way to go to his target high of $1900. Costs are raging high ($1200-$1300 level). | 2012-01-10 | |
| HOLD | 45.200 | Bill Carrigan | Not really enamoured with the gold space but this company is fine. The stock is still in an uptrend and is currently at the bottom of its channel. If you want to get into this, this would be the time. This one tends to be favoured by the institutional crowd so this is the one they will want to own. | 2012-01-06 | |
| TOP PICK | 45.950 | Christine Poole | The pullback in gold prices represents a good opportunity for investors to have gold exposure. This is a large tier 1 producer at about 2.5 million ounces which could grow to 4 million by 2015. They are in lower risk regions globally. Low-cost producer. | 2012-01-05 | |
| DON'T BUY | 45.950 | David Burrows | He is currently not invested in gold. The pullback that took place at the end of last year was quite significant and broke a 2 year uptrend. The technical damage in gold stocks is quite significant. Great company with great assets. | 2012-01-05 | |
| BUY | 45.710 | Brian Acker, CA | Likes this one. His model price is $59.89, which is a 30% positive differential. On these pullbacks, it looks attractive. We could be in a period here where these stocks underperform while the gold price goes up. Feels that as stocks get cheaper, you want them in the portfolio. On the downside, it could get down to the $40 level but he would be more of a buyer there. | 2012-01-04 | |
| WAIT | 45.980 | Keith Richards | Sold out of gold at $1800. Thought he could get back in near $1700 but it didn’t happen. Wait until a true bounce. Not convinced the downtrend is not really out. | 2012-01-03 | |
| BUY | 45.980 | Bruce Campbell | Dividend will probably go up as the stock price goes up, in other words they're going to increase it as gold/silver prices increase. Has really good production growth. Good price. (See Top Picks.) | 2012-01-03 | |
| TOP PICK | 45.210 | Lyle Stein | (A Top Pick Aug 3/11. Up 12.92%.) This is one of those stocks that are great for the times. It has that element of insurance of a gold stock. Very solid operations and management. Best growing gold stock in the big cap universe. Lowest cost producer. | 2011-12-30 | |
| TOP PICK | 43.560 | Gavin Graham | 2nd largest North American gold producer. Has a bunch of mines in particularly stable countries in the Americas. Will be doing 2.25-2.5 million ounces. Now has its dividend policy linked to the price of gold. Has about 1.3% yield. | 2011-12-28 | |
| PAST TOP PICK | 46.140 | Michael Sprung | (A Top Pick Jan 14/11. Up 17.47%.) Likes companies that have a good roster of projects going forward that are in development that could come on stream. Production should grow from 2,600,000 ounces a year to over 3 million over the next few years. Very efficient and well managed company. | 2011-12-19 | |
| TOP PICK | 51.890 | Gavin Graham | 2nd biggest gold company in Canada. In jurisdictions that are favourable to mining. 2.5 million ounces. Just got approval for the new Elinor (?) mine that will be coming online in 3 years in Québec giving a next or 600,000 ounces. | 2011-11-18 | |
| TOP PICK | 54.150 | John Stephenson | In terms of a senior name, it has the lowest cash cost of roughly $550 versus the industry average of $875 or so. Very strong production growth going forward. It is also the largest silver producer. | 2011-11-15 | |
| HOLD | 52.850 | Keith Richards | This company pretty well follows gold bullion, which has been working in the trend channel for about 2 years. Gold and this company are now getting back to the top of their trend channel and he has sold his gold equities. | 2011-11-09 | |
| TOP PICK | 54.300 | Douglas Kee | Gold production is likely to grow by about 50% by 2015. Projects are in place now. Good management. Low cost producer. With their projects, he feels the dividend could double over the next few years. | 2011-11-07 | |
| BUY | 47.850 | Brooke Thackray | Seasonality for gold: has a run from July into September and can do well in November. There is a bit more of a run that could happen. Don’t hold too much past November. | 2011-10-27 | |
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| BUY | 46.440 | Norman Levine | Question. What gold company would he recommend? Without knowing where the price of gold is going, he would like to see what shows the best growth and has the best management, which would be this one. | 2011-10-24 | |
| BUY | 45.340 | Stan Wong | It is moving upwards. Gold equities are undervalued relative to bullion. It is worthwhile as a trade at this point. | 2011-10-19 | |
| PAST TOP PICK | 48.650 | Christine Poole | (Top Pick Oct 25/10, Up 14%) went up with the gold price, although did lag. Likes gold longer term. As gold price has pulled back a bit it is a good time to pick up more. | 2011-10-12 | |
| PAST TOP PICK | 47.380 | Lyle Stein | (A Top Pick Feb 12/10. Up 17.03%.) | 2011-10-05 | |
| PAST TOP PICK | 46.950 | Norman Levine | (Top Pick Sep 7/10, Up 6.48%) He wants some gold exposure. This is a growth stock as well as a gold stock. Well run. | 2011-09-23 | |
| BUY | 49.100 | Charles Lannon | Likes it. Stock has its critics. This is a part of the market where you should never hesitate to pay up for quality. Good operational job. Commodities don’t give you a cash flow on a regular basis. | 2011-09-22 | |
| BUY | 51.510 | Hap (Robert) Sneddon FCSI | There is a definite trend. It is closer to setting new highs. By around $47 or above $55 meaning there will be new buyers. | 2011-09-21 | |
| TOP PICK | 54.910 | Gavin Graham | Lost about a quarter of a million ounces this year because of rain in the Dominican Republic and wild fires. Should come back in next year. Well diversified suite of assets globally in politically stable countries. | 2011-09-09 | |
| TOP PICK | 54.110 | Jamie Horvat | 2-2.5 million ounces of production growing to 4.5 million. 88% of their production is gold and 12% to silver and other base metals. Very strong balance sheet. $500 million in net cash and $3.5 billion in cash flow annually. | 2011-09-06 | |
| Comment | 53.760 | Paul Harris, CFA | Sold his holdings to buy Yamana (YRI-T), which was cheaper. Gold has gone up substantially while the stocks have massively under performed. At some point in time, if gold is a bubble, these stocks have to outperform the commodity. | 2011-09-02 | |
| PAST TOP PICK | 50.980 | Norman Levine | (A Top Pick Sept 07/10. Up 13.3%.) | 2011-08-26 | |
| BUY | 48.760 | David Baskin | A lot of the acquisitions from last 5 years look really smart now. Problem with these stocks is they go up and down like a toilet seat. You have to have strong stomach. Not a stock for the nervous Nellies. It is well run, it’s big, it has lots of properties. Good solid strong management. | 2011-08-24 | |
| TOP PICK | 46.920 | Lyle Stein | Analysts are still using $1300 for their targets in the long term. These guys can make close to $3 a share in profits at current prices. Will see same growth in G-T next year. Has been a great story and continues to be. Production and cash flow are most important in today’s marketplace. | 2011-08-03 | |
| PAST TOP PICK | 46.920 | Lyle Stein | (Top Pick Feb 12/10, Up 19.49%) | 2011-08-03 | |
| BUY | 46.450 | Christine Poole | Expected gold to pull back but it was up indicating investors are losing confidence in governments. This company reported last week and had to reduce production forecasts for this year because of operational issues, but these are resolvable. This is her favourite gold stock. | 2011-08-02 | |
| TOP PICK | 45.690 | David Cockfield | Market overreacted to some of their production problems. Into enough new projects that the actual gold they will be producing in the coming years will still be there. Lower price is a good opportunity. | 2011-07-29 | |
| HOLD | 48.230 | Veronika Hirsch | One of the better gold companies in Canada. A senior, so you can't expect a lot of growth. All of the gold stocks have been under performing gold. She would rather be a buyer than a seller as it needs to catch up to the bullion. | 2011-07-27 | |
| WATCH | 49.960 | Steve Carlin | His favourite gold stock. Expecting a 15% upside from here. Likes the growth in the production profile. Has executed extremely well in terms of delivering on promises in terms of new mines. Short-term, gold prices could have a pullback once the US debt crisis is settled. | 2011-07-26 | |
| TOP PICK | 50.180 | Douglas Kee | Owned forever. Of the gold companies this is a low dividend payer. He has encouraged them to increase it and they did this year. Low cost producer with good production growth. It is always 5% of his portfolio. Thinks it is a good company. | 2011-07-21 | |
| SELL | 51.430 | Derek Webb, CFA | Probably the best large-cap gold stock in the world because it has a highest growth and highest margins. You can usually write 2.5%-3% on month on this. Wouldn't write it at this time as he expects these stocks to pullback. If you own, consider taking profits. | 2011-07-20 | |
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| TOP PICK | 52.790 | John Stephenson | Best growth of all the senior producers. Going to increase production by 60% in the next 4 years. Low cost producer. 20% of revenues are from Silver and he believes it will trend higher with gold. | 2011-07-18 | |
| HOLD | 48.460 | Brian Acker, CA | Rotating out of Goldcorp (G-T) and into Franco Nevada (FNV-T) for the dividend? This would be a big mistake. His model price for Franco Nevada is $26.31, a negative 27%. Very expensive stock. GoldCorp’s model price is $52.16, an 8% upside. | 2011-07-08 | |
| BUY on WEAKNESS | 46.130 | Michael Decter | Believes they are going to add significantly to their production. Anytime you can buy this below $40 a share, it is worth buying. Try to get it in the mid-to low $40's. | 2011-06-27 | |
| PAST TOP PICK | 46.240 | Richard Croft | (A Top Pick June 14/10. Up 5%.) Sell Oct $42 Put @ $2.30. | 2011-06-24 | |
| BUY | 46.440 | Michael Sprung | Likes their production profile going forward. Low cost producer. (See Top Picks.) | 2011-06-20 | |
| BUY | 45.400 | Bill Carrigan | Chart shows an up trend. Gold has been outperforming the stocks and he thinks that is about to change. | 2011-06-17 | |
| BUY | 46.200 | Colin Stewart | Likes Gold generally – great hedge against currency debasement. Is one of the largest gold stocks in Canada. He moved from Gold ETFs to Stocks. | 2011-06-10 | |
| BUY | 45.990 | Sandy McIntyre | Senior cold mining company and typically he is more interested in smaller growthery names, but with the pullback he now feels the gold sector is quite interesting. | 2011-06-08 | |
| BUY | 46.820 | Bruce Campbell | Gold companies aren’t really bought for their yield. They could increase it as their earnings increase, which they will over the next few years even if the price of gold doesn’t. His favourite large cap gold stock. | 2011-06-07 | |
| TOP PICK | 47.410 | John Stephenson | Best growth profile of any of the major producers. The lowest cost producer of all the seniors. Gold will go to $2000 in the next year and silver will test $50 or $60. | 2011-06-06 | |
| PAST TOP PICK | 49.050 | Ron Meisels | (A Top Pick May 18/10. Up 6.78%.) Was pretty flat until its breakout earlier this year. Had another pull back and is in a very attractive position now. | 2011-05-30 | |
| TOP PICK | 48.880 | David Cockfield | Everyone should have gold content in their portfolio. This one has come down quite smartly with the rest of the golds but he sees it bouncing back up. Located in nice safe jurisdictions. Looking for it to be 10%-20% higher in 6 months. | 2011-05-27 | |
| Comment | 52.890 | Jaime Carrasco | His company has Goldcorp as an outperform with a $70 target but he prefers the mid-tiers as they will give more production upside. | 2011-04-29 | |
| TOP PICK | 52.050 | David Cockfield | Was caught in a trading range and has finally broken out. Gold stocks have underperformed. This is one of the biggest and is a low cost producer. Assets are in the Americas. | 2011-04-15 | |
| BUY | 50.650 | Michael Decter | Have good growth in hand. Will probably go from 2.3 million ounces to 3.7 million ounces. | 2011-04-13 | |
| BUY | 47.410 | Bill Carrigan | One of the gold socks where he thinks the money is going to go to. Expect it will work higher. | 2011-04-01 | |
| PAST TOP PICK | 48.340 | David Driscoll | (A Top Pick April 7/10. Up 21.38%.) His anchor against inflation. Chose this one because of the low political risk. Mexican mine is just coming on board with low costs in the $300 range. Increased dividends in the last 2 quarters. Also a big silver producer, so if silver starts to catch up to gold, they will participate. | 2011-03-31 | |
| BUY | 46.410 | Norman Levine | Recently gold prices have outperformed stocks. This company’s energy, labour and material costs have been going up, which has hurt profitability. Also they made an acquisition late last year, which diluted short term and brought the stock down. Views this as an opportunity and likes the long-term outlook. All their properties are in politically safe areas. | 2011-02-28 | |
| PAST TOP PICK | 44.100 | Derek Webb, CFA | (A Top Pick Jan 14/11. Down 7.64%.) Sell January Puts strike of $45 for $1.32. Although he lost on the Puts, he got the stock at a price he was very happy with. | 2011-02-17 | |
| TOP PICK | 40.800 | Gavin Graham | Last year’s production was 2.5 million ounces and will go to 2.7 million. 5-year growth of about 60%. Cost per ounce is around $280-$300. Andean Resources takeover depressed the price but was an overreaction. 0.9% yield. | 2011-02-07 | |
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| BUY | 41.500 | Michael Decter | This is his major gold holding. Expecting significant production growth. Doesn’t see much growth in other majors short of acquisition. | 2011-02-03 | |
| PAST TOP PICK | 39.440 | Bill Harris, CFA | (A Top Pick Feb 2/10. Up 4.66%.) Sold his holdings in order to concentrate on his other gold, Agnico Eagle (AEM-T). Nothing wrong with this one. | 2011-01-24 | |
| BUY | 40.420 | Laura Wallace | An excellent stock in the gold sector. Well operated. Has a substantial expansion going on and is opening 6 mines in the next 5 years with production going from 2.9 million ounces to 4 million.. | 2011-01-20 | |
| TOP PICK | 40.170 | Michael Sprung | A leader in low cost gold production. Focused on the less politically sensitive area of the Americas. Great growth profile ahead of it. | 2011-01-14 | |
| TOP PICK | 40.170 | Derek Webb, CFA | Sell January Puts strike of $45 for $1.32. Will get the stock at $41 if it stays where it is, which he doubts and he’ll own it $39.68 because of the option premium. (Better way to get income than owning bonds.) | 2011-01-14 | |
| PAST TOP PICK | 44.970 | David Cockfield | (A Top Pick Dec 21/09. Up 11.33%.) Bullish on gold but less so on the gold stocks, which have not performed as well as bullion. Now focusing more on bullion. | 2010-12-17 | |
| PAST TOP PICK | 46.200 | Brendan Caldwell | (A Top Pick March 5/09. Up 21.63%.) | 2010-11-25 | |
| PAST TOP PICK | 46.850 | David Cockfield | (A Top Pick Oct 30/09. Up 19.82%.) Still likes. | 2010-11-12 | |
| PAST TOP PICK | 45.540 | Gavin Graham | (A Top Pick Oct 23/09. Up 8%.) Just doubled their dividend. Major company with growth in gold production. | 2010-10-29 | |
| BUY | 43.550 | Nick Majendie | Likes the growth story, which is excellent over the next number of years. Recent performance has been a little disappointing but good value at current levels. | 2010-10-26 | |
| TOP PICK | 43.550 | Christine Poole | Positive on gold long-term. This stock has lagged the gold price. Low cost producer. Have an aggressive gold target. Produced 2.4 million ounces last year and their goal is to grow this by 50% in 5 years to 3.7 million. | 2010-10-25 | |
| PAST TOP PICK | 45.450 | David Cockfield | (A Top Pick Oct 30/09. Up 15%.) A Hold. | 2010-10-13 | |
| SELL | 44.560 | Jeff Parent B. Eng. FCSI | An interesting chart. He doesn’t like gold or gold stocks. This is a stock he would avoid. It hasn’t done anything for more than a year. Has low relative strength compared to pears. | 2010-10-08 | |
| BUY | 44.930 | Michael Smedley | Quite attractive. | 2010-09-24 | |
| DON'T BUY | 42.790 | John Zechner | Good company but valuation has been higher than almost every other gold company out there. Trading at about 2.5X net asset value while most of them are at about 1.5. Also, they are an acquirer, which dilutes growth a little. You are better off owning acquirees. | 2010-09-09 | |
| TOP PICK | 44.320 | Norman Levine | He has chosen this one for its growth profile of adding new capacity – one of the best of the senior golds. He also chose it because of the geography of their mines – North, Central and South America. They are all politically stable countries. | 2010-09-07 | |
| DON'T BUY | 45.850 | Paul Harris, CFA | Likes gold but prefers Agnico-Eagle (AEM-T) as there is a better opportunity for growth. | 2010-08-26 | |
| Comment | 40.950 | Don Lato | Moved in sync with other Canadian golds. He is not a big holder of gold stocks as they don't fit with his modeling of consistent earnings growth and discounts to NAV. | 2010-08-11 | |
| WATCH | 42.440 | Bill Carrigan | Currently at the lower end of the trading range so watch for a move back. He would like to see Barrick (ABX-T) confirm. They should both move together. Gold sector is getting people irritated and gold bugs are getting fed up so institutions are lightening up. This is a good sign. Watch for a breakout. | 2010-07-16 | |
| TOP PICK | 45.350 | Steven Conville | All major gold companies are unhedged now. Company is profitable even with gold at $500. Current gold prices have to translate into gold stocks outperforming gold itself. | 2010-06-21 | |
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| TOP PICK | 43.850 | Richard Croft | Sell Oct $42 Put @ $2.30. If the stock is above $42 come October, you keep the $2.30. If the stock is Put to you, you Buy at $42 less the $2.30 and this would not be a bad stock to hold anyway. | 2010-06-14 | |
| TOP PICK | 46.090 | Ron Meisels | Has been in a narrow trading range for most of 2009 but now is on an up-leg. It is ready to go into new all time high territory. | 2010-05-18 | |
| Comment | 46.470 | Michael Simpson, CFA | Gold mine in Mexico and a joint venture with Barrick. Not hedged. Not the highest free cash flow yield among the senior golds so he prefers Barrick (ABX-T) or Newmont (NMC-T). Dividend of about 0.37%. | 2010-05-13 | |
| HOLD | 44.530 | David Cockfield | Has taken some money off the table on this one. Gold was up today but gold stocks were generally off. This indicates margin calls so people were selling their gold stocks that had made a profit. (He holds 10%+ in gold.) | 2010-05-07 | |
| PAST TOP PICK | 45.750 | Karl Berger | (A Top Pick May 20/09. Up 7%.) | 2010-05-06 | |
| BUY | 43.830 | Norman Levine | Good gold stock. | 2010-05-05 | |
| Comment | 43.860 | Nick Majendie | GoldCorp (G-T) or Barrick (ABX-T)? Barrick is cheaper on a historical valuation basis but got hit on Australia’s plan to impose 40% on profits. 17% of its revenue is from Australia. He is looking for 30% growth in cash flow over the next 3 years. | 2010-05-04 | |
| BUY | 43.160 | Steven Conville | CEO said they could make money as long as gold is over $400. Really likes this company. We might start to see gold companies outperforming bullion in the next few months. | 2010-05-03 | |
| BUY | 41.670 | Michael Sprung | European financial distress could lead to a lower euro and a higher US$. How would this affect gold? When the US$ is strong, gold consistently pulls back but ultimately it will become more of a hedge. Every portfolio should have some positioning to gold. This company has good production profile and is a low-cost producer. | 2010-04-27 | |
| HOLD | 40.370 | Robert Lyon | One of his favourite big cap names in the gold space. Strong growth position going forward. Low-cost producer. Looking at historical gold prices, the stock is pretty inexpensive. | 2010-04-09 | |
| TOP PICK | 40.060 | David Driscoll | Lowest cash cost of all seniors at about $350 so with gold where it is, it is all free cash flow to them and will allow them to fund future exploration. Penasquito mine in Mexico is getting started and will give them a lot of flexibility. No debt or political risks. Anywhere in the $30-$35 range is a good price. | 2010-04-07 | |
| PAST TOP PICK | 37.950 | David Burrows | (A Top Pick March 30/09. Down 10.7%.) Sold out at around $42 and is now Short. | 2010-03-31 | |
| BUY | 37.500 | Jim Houston | Should outperform bullion because its production will be growing by about 50% by 2013 at reasonably low costs. | 2010-03-25 | |
| BUY | 37.500 | Paul Harris, CFA | Low cost producer at around $400. Great growth profile from 2010-2014. | 2010-03-25 | |
| PAST TOP PICK | 40.280 | Michael Sprung | (A Top Pick March 10/09. Up 18.4% excluding dividends.) His gold holdings act as a hedge to the US$. Low cost producer with a fairly discernible rising production profile. | 2010-03-17 | |
| BUY | 40.580 | David Baskin | Potential for gold to go a lot higher as US dollar gets weaker. This is one of the biggest producers in the world. He owns ABX. | 2010-03-16 | |
| PAST TOP PICK | 40.000 | Steven Conville | (A Top Pick Jun 1/09. Down 1.23%.) Still likes. | 2010-03-15 | |
| BUY | 40.090 | Peter Brieger | Likes their Mexican projects and the production from these. Also making some major headway in the Quebec area. Involved in a lawsuit with Barrick (ABX-T), which is messy but nothing more than an irritant. | 2010-03-12 | |
| WAIT | 40.320 | David Burrows | Owned it over time. Well-diversified corporation. A Believer in the long-term story for gold. | 2010-02-19 | |
| TOP PICK | 39.350 | Lyle Stein | Long-term hold for his firm. Low dividend paying stock with the potential to be a high dividend stock if gold prices sustain their current levels. Dividend can certainly go up if gold reaches $1300 or $1400. They have a 15% growth profile without significant property acquisition. | 2010-02-12 | |
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| Comment | 37.270 | Brian Acker, CA | If it came down to $33, it would go into his portfolio. His model price is $35.12. He would treat it as a trading stock and if it got up to $45 would let it go. | 2010-02-03 |
