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

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Peter Imhof , Vice President & Portfolio Manager

AGF Investments Inc


Date Signal Chart Symbol Company Opinion Price
2015-06-19 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  In April he raised some cash in his funds, because he knew the pipeline for IPOs was quite large. Also, in the summer there is a little bit of weakness in the sectors, and he wanted to have a little more cash on the sidelines in order to participate in some of the IPOs or get some names that have been beaten down quite a bit. You have to be very selective on IPOs and be sure that there is good visibility and that multiples are not too high. The problem is that when all IPOs are doing really well, the multiples expand quite a bit and people know they can get higher valuations for them. Sometimes it’s good to be in an environment where IPOs are not doing well and are trying to come public. That is where you can get some good values. You want to see the dust settle on some of these, so you can see what kind of valuations they will normally trade in. Smaller cap names in Canada, outside of the resource sector, are growing earnings fairly rapidly and don’t trade at ridiculous valuations. He would feel comfortable with a lot of them in Canada. In the US, some of the high flyers trade at much higher valuations and could come down more. Investors should have 5%-10% of cash sitting on the sidelines, just so that they don’t have to sell something in order to buy something.


Price:
$0.020
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
_N/A
2015-06-19 TOP PICK Must be logged in to use chart AGT-T AGT Food & Ingredients

Produces lentils, chickpeas and gluten-free pasta. More and more people are looking for healthier diets. They are looking for protein outside of red meat. Last quarter their EBITDA was up about 33%. Have done a very good job of increasing margins. The whole macro environment is doing well for them. There has been a bad crop of lentils and chickpeas in India. They signed a couple of joint venture deals, where they are producing more at higher margins. Margins are very high on gluten-free pasta. There have been a lot of acquisitions in the space at much higher multiples, and thinks this will eventually get taken out.


Price:
$31.980
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 COMMENT Must be logged in to use chart AVO-T Avigilon Corp

Earnings growth has been there. Thinks there are a lot of red flags around the story. Management has been buying back stock. They are very, very volatile in terms of their quarterly earnings. Feels management has ticked off some of the analysts on the street by missing guidance.


Price:
$18.610
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 COMMENT Must be logged in to use chart AYA-T Amaya Gaming Group Inc.

The acquisition of Poker Stars was hugely accretive and has made them the #1 player globally. If the cash flow comes through and they are able to clear some of the red flags around the company, the stock should do well. He prefers smaller names which have a little bit more torque.


Price:
$34.650
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 BUY Must be logged in to use chart BYD.UN-T Boyd Group Income Fund

A consolidator of auto body shops. Have done a really good job. In the last quarter, same store sales were up over 5.5%. Good management. Very conservative. Majority of their revenues comes from the US. This is one of those stories where you can sleep well at night, as operations have gone extremely well over the years.


Price:
$51.250
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 TOP PICK Must be logged in to use chart CRH-T CRH Medical Corp.

In terms of management, they are a little more conservative than some of the others. They were in the haemorrhoid business, but do a lot of anaesthesia for colonoscopies, etc, and that business has been growing very rapidly. Made a transformative acquisition at the end of last year, and are on the cusp of probably making a couple more over the next 6 months or so. Recent quarter was very strong and expects Q2 to be strong as well.


Price:
$4.110
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 COMMENT Must be logged in to use chart CS-T Capstone Mining Corp.

Had a position in this, but took most of it off. Has been buying at around $1.18. Good management and feels the copper space is weak overall. This has flat lined here, and if you look out a year or so, you should have some nice gains. They are getting kicked out of the index, so there is going to be a lot of selling going on. When he sees a stock trading sideways for a while and the fundamental stays the same, he usually likes to enter as he knows that most people have gotten out that wanted to get out. If there is a little more stability in copper prices, this stock could easily get back to $1.70. Good risk/reward.


Price:
$1.280
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 HOLD Must be logged in to use chart DOL-T Dollarama Inc.

Has been a spectacular story. They keep coming through with very strong earnings. Multiples are fairly high, but you can’t argue with the earnings growth. It’s one of those names that if you own it, you are not selling it because you still see the earnings coming through. Even though the multiple has expanded, there are not many growth stories of this size in Canada that continue to be expectations.


Price:
$73.660
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 PAST TOP PICK Must be logged in to use chart ESP-T Espial Group

(A Top Pick July 30/14. Up 5.59%.) The earnings growth is going to come through. Has been a very volatile stock. At the end of last year, they didn’t end up signing a contract that people thought they were going to sign, but got it 2 weeks later, and the stock had a big run up. Every quarter revenues and margins have been better than he expected. The revenue base is not huge right now, but the deployment after these 3 signed contracts, is where you are going to start to see earnings lift over the next couple of years. A good entry point.


Price:
$3.550
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 COMMENT Must be logged in to use chart FCU-T Fission Uranium Corp.

(Doesn’t follow this closely.) Have come out with extremely good drilling results over the last 1.5 years or so. The uranium space hasn’t really come back. If you are looking out for the next few years, and the uranium prices come back, he thinks this will be one of the “go to” names.


Price:
$1.010
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 COMMENT Must be logged in to use chart FTG-T Firan Technology Group Corp.

Printed circuit boards, mainly for the airline industry. This is a very tiny company, and one fund manager owns about 50% of the shares. He likes the story. Had about 3 or 4 quarters in a row where things were improving quite a bit. The recent quarter wasn’t as strong as he would have hoped, but expects the next quarter or 2 will have very good earnings. Trading very cheap at about 10X earnings. Has a good backlog, but are going to have to show that the margins are there. The fact that they produce in Canada but sell in US$ should give them a bump. Expects good things over the next few quarters.


Price:
$1.660
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 COMMENT Must be logged in to use chart GRC-X Grenville Strategic Royalty

There are a lot of players in this space. Their strategy is to buy royalties on a number of companies, so that if one of them stumbles, they are not going to get hurt. However, 5 weeks after meeting with management, one of the companies they invested in was a fraud, so he questioned what kind of due diligence they were doing. Prefers Diversified Royalty (DIV-T) in terms of the yield. 5.4% dividend yield.


Price:
$0.900
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 DON'T BUY Must be logged in to use chart GXI-T GuestLogix

Has never been a big fan of the story. They kept signing contracts, but none of those contracts turned into earnings or net income to the bottom line. Some activists have come in, but he still doesn’t love the story. They have to prove out their business model, and he is not sure that bringing these other guys in will do that. On a fundamental basis, he would not play the story.


Price:
$0.870
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
No
2015-06-19 BUY Must be logged in to use chart IT-T Intertain Group

This is in regulated gaming Bingo in the UK and has done extremely well. The numbers have been coming through very strong. Just got added to the index, so you are going to see a lot of index managers buying the name. This is a good opportunity. Trading at about 12X this year’s earnings. He would buy it now, but wait for a bit of a pullback. He could see $26 within 12 months or so.


Price:
$18.200
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-19 TOP PICK Must be logged in to use chart MBUU-Q Malibu Boats Inc

They make performance board boats, where you can do weight boarding behind them. Earnings and margins have continued to increase. Last quarter revenues were up 28% and net income was up quite a bit. Margins are very strong. In the last 3 years, the compounded annual growth rate was about 37% in earnings growth, and the multiple over the next 12 months is only around 15X earnings.


Price:
$22.660
Subject:
NORTH AMERICAN - SMALL
Bias:
OPTIMISTIC
Owned:
Yes
Showing 1 to 15 of 454 entries
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