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Compiling comments that experts make about stocks while on public TV.

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Bill Harris, CFA , Portfolio Manager

Avenue Investment Management


Date Signal Chart Symbol Company Opinion Price
2015-12-01 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. There has been an incredible drying up of liquidity in companies that are worth less than $1 billion. If you are going to be in this area, you better make sure that your company really does what it is supposed to do, because if it turns around and you need to get out of it, there might only be 5000 shares to trade. Because of this, he sees some really good deals, but doesn’t want too much exposure, so has limited his exposure to the overall portfolio at about 15% for companies that are under $1 billion.


Price:
$0.020
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
_N/A
2015-12-01 TOP PICK Must be logged in to use chart ALA-T Altagas Ltd

Infrastructure still has to get built, but they are able to do little pieces here and there and it is a great little business that can grow along. Thinks that business can incrementally grow over time. Dividend yield of 6.3%.


Price:
$31.760
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Yes
2015-12-01 PAST TOP PICK Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

(A Top Pick Oct 23/14. Down 16.05%.) Anything below $60 in Canada really doesn’t work except for 2 companies, Suncor (SU-T) and this one. He added more to his holdings and is now at a break even stage. If you have a higher oil price in 1-2 years time, you get great leverage. It sort of fires on all cylinders in 2018.


Price:
$32.350
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Yes
2015-12-01 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

In the screen of investable mid-cap companies, this is #1 or #2 out of 5 that he likes. (See comments under Valeant (VET-T).) Still a fairly high valuation with WTI at $42. The nice thing about this is that it is in Saskatchewan and technically the chart looks pretty good. They should’ve cut their dividend to zero. This is generally a decent play on oil. He is looking at this one very closely.


Price:
$17.930
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-12-01 COMMENT Must be logged in to use chart ENB-T Enbridge

How they have structured their business is really tricky, and he has yet to find the answer.


Price:
$48.260
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Unknown
2015-12-01 COMMENT Must be logged in to use chart FRU-T Freehold Royalties

This and PrairieSky (PSK-T) are great companies. These should be great types of businesses looking after pension type money, but they are just too expensive. Also, the gas price is horrible. The risk is that you might be backing out gas from Western Canada, and does it go? Maybe it just doesn’t get produced.


Price:
$11.600
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-12-01 PAST TOP PICK Must be logged in to use chart GXE-T Gear Energy

(A Top Pick Oct 23/14. Down 86.29%.) At $100 oil, it made money to $60. As soon as oil began to flip and heading towards $60, he cut and ran.


Price:
$0.610
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-12-01 COMMENT Must be logged in to use chart IPL-T Inter Pipeline

Has just doubled his position in this company. The contracts they have are extraordinary. The company can grow incrementally with this fair bit of capital. They have lots of spare capacity. He is taking a 10 year view on this and thinks he can compound at 8%. Dividend of 6.75%.


Price:
$23.120
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Yes
2015-12-01 COMMENT Must be logged in to use chart PPY-T Painted Pony Petroleum

Natural gas has to go to the West Coast. Prefers Tourmaline (TOU-T) because of cost, efficiency, etc. This is a great company; it’s just that there are other companies that look slightly better.


Price:
$4.470
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Unknown
2015-12-01 COMMENT Must be logged in to use chart RMX-T Rubicon Minerals Corporation

They were very loud saying “I’ve got a million ounces”, etc. and then went ahead with the mine without the real deep science and engineering behind it. It is in such a mess that they really don’t know what the consistency of the asset is. Somebody has to come in and fix it. It all has to be reworked from scratch.


Price:
$0.155
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Unknown
2015-12-01 COMMENT Must be logged in to use chart RNW-T Transalta Renewables

A good company. On paper this should be one of the very interesting infrastructure investments in Canada, but the payments come through Transalta (TA-T) and the ownership is a little bit muddy. Because it is not a direct line of sight, and until he can define that, he is not going to own it. (See Top Picks.)


Price:
$10.160
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-12-01 TOP PICK Must be logged in to use chart ROG-X Roxgold Inc

(A Top Pick Oct 23/14. Down 8.57%.) Gold. Pretty much at his cost on this. Was looking for something that was interesting, low cost with a really high grade mine going into production. He still wants some exposure to the gold market.


Price:
$0.650
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Yes
2015-12-01 COMMENT Must be logged in to use chart RUS-T Russel Metals

Getting closer to a Buy. He keeps looking at their bonds which are giving about 6%-6.5%. Owning this grade of bonds is very interesting. However, there is no liquidity in the corporate bond market, so if there is some disturbance in the bond market, you will get higher gyrations because there is no liquidity, no bank participation, and fewer people that have the ability to buy these. The neat thing about this company is that it has much more of a throughput business. The 8% dividend yield is probably coming down.


Price:
$17.340
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-12-01 COMMENT Must be logged in to use chart TCK.B-T Teck Resources Ltd. (B)

This is one of the trickier ones. Mostly coal and metallurgical coal, with an oil sands big project. Still had a huge amount of debt to buy their Fording coal assets. The argument is that there is just too much steel. China has gone from almost no steel production to over 50% of global steel production. They don’t make steel to build themselves, but they make it to sell to us. There is way too much capacity in steel. This has been on side because of the Cdn$, but if we really don’t know how low the commodity goes and they have that much debt out, they are still in trouble. He prefers Labrador Iron Ore Royalty (LIF-T) and Westshore Terminals (WTE-T).


Price:
$5.560
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Unknown
2015-12-01 TOP PICK Must be logged in to use chart TOU-T Tourmaline Oil Corp

This is gas. One of the lowest cost producers and is doing extremely well. It’s in the penalty box. A high-quality company, the debt is completely reasonable and the valuation is finally reasonable. It has extraordinary growth.


Price:
$25.560
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
Yes
Showing 1 to 15 of 1,231 entries
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