Viewing Expert Eric Nuttall | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Eric Nuttall , Portfolio Manager

Sprott Assett Management


Date Signal Chart Symbol Company Opinion Price
2016-10-07 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Energy. Feels the Bears are slowly throwing in the towel, in that oil inventories have been falling since May/June. The last remaining holdout is the IEA, which really destroyed sentiment prior to the OPEC announcement of the cut. Although the IEA is the gospel for many people, there ability to predict is very, very poor. We have seen the largest draw in US inventories since 1920, in the past 6 weeks. Inventory is falling because demand exceeds supply today. Looking out to 2018, 2019 and 2020, it is highly likely that we are going to have a challenged market in terms of supply. Within non-OPEC, the majority of growth is Brazil and Canada. Next year’s peak rate, Canada is falling and Brazil, at best, is flatlining. Within OPEC there have been 3 pillars of growth, Iraq, Iran and Saudi. It is believed that Saudi’s maximum capability is 10.6 million barrels, and they always bring down production this time of year. Iraq has been flat for 4 months now and are maxed out in terms of export capacity. Iran has only another 200,000 barrels a day before they are at pre-trade sanction levels, and to get above that level they need Western technology, Western money and time. OPEC largely looks tapped unless we get peace breaking out in Nigeria or Libya. He expects to see $60 oil next year and $65 in 2018. The market will continue to be short of oil unless you incentivize US activity, and that will begin at $50 oil. In order for activity to really increase meaningfully, you need it to hit at around $60 oil.


Price:
$0.020
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
_N/A
2016-10-07 PAST TOP PICK Must be logged in to use chart AC-T Air Canada (B)

(A Top Pick Oct 22/15. Up 7.41%.) Sold his holdings. There are still headwinds on the weakness of Western Canada, and the lingering fear of overcapacity.


Price:
$12.310
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 TOP PICK Must be logged in to use chart BIR-T Birchcliff Energy Ltd.

His favourite Montney pick because it is trading at discount multiples because it is new. People still haven’t appreciated how much they’ve improved the balance sheet, how they’ve reduced Seymour Shulick’s ownership, liquidity has improved, overall asset quality has improved, inventory has improved, and most importantly leverage has come down. Trading at 6.2X next year and less than 5X 2 years out compared to the peers who are trading at 7 or 8. It could be a $16 or higher stock.


Price:
$9.480
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-10-07 SELL Must be logged in to use chart BNP-T Bonavista Energy Corp

He would sell this and either buy another name or a top performing energy fund. They still have too much debt. This is trading at about 3X debt to cash flow. He doesn’t see them regaining their lost multiples.


Price:
$4.330
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 TOP PICK Must be logged in to use chart CJ-T Cardinal Energy Ltd

About 80% of their oil is medium gravity, so they get a discount to Edmonton light. If you are a believer like he is, that oil prices will gravitate to around $60 next year, you get really good product leverage without the financial leverage. They have some drilling catalysts coming up, where they are going after 2 different properties. They bought a great little asset from Penn West (PWT-T) and are going to use modern technology in a field that hasn’t had any of this application ever before. There could be virgin reservoir pressure. This company still trades at a discount because of stupid lingering concerns because of an environment liability, but they have been improving it. He is looking for a $15 share price.


Price:
$9.070
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-10-07 COMMENT Must be logged in to use chart CPG-T Crescent Point Energy Corp

As a stock, this is mispriced. It is undervalued. In order for that situation to get rectified, they need people to care. About a month ago, they came to market to do a raise, and the reasons for doing it sounded really, really quite poor. This has tainted the institutional interest. The appetite for the stock is not what it was. It is going to take time.


Price:
$17.710
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Unknown
2016-10-07 COMMENT Must be logged in to use chart DHX.B-T DHX Media

Put out a somewhat disappointing quarter in that they paid on top line. The EBITDA margin wasn’t as strong as the street consensus was, because they were spending more on Teletubbies as well as buying more content for DHX Television. He is hoping he can get this on a little bit more of a pullback. Looking out to 2017, the challenge in Canadian small cap is that there are very few companies that are able to put up positive 10%-15% organic EBITDA growth. 


Price:
$6.800
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 COMMENT Must be logged in to use chart DIV-T Diversified Royalty Corp.

He owns this because he thinks it is a misunderstood dividend paying company that offers a pretty healthy dividend yield. About a month ago, they had 3 royalty streams with exposure to Western Canada, a market that has been under enormous pressure. The company is selling off the restaurant business, which they got a pretty good price. They will now be hugely reliant on Mr. Lube, which has had positive same-store sales for 20 years. Because they are selling off their restaurant, their payout ratio is in excess of 100%, but with the cash they are getting, they could overspend a minimum of about 5 years. Thinks they will make another acquisition. Feels the current cash flow is sustainable.


Price:
$2.440
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-10-07 TOP PICK Must be logged in to use chart FRC-T Canyon Services Group

He made a fortune on fracers and thinks there is still more to go. This is his top pick because of the lack of debt. It is only going to have about $35 million in net debt at the end of this year, because they are rehabilitating some of their equipment. There are signs that pricing is improving in the frac market in Canada. Demand for fracing is increasing much faster than people believe. He is looking for about 35% upside.


Price:
$5.620
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-10-07 DON'T BUY Must be logged in to use chart GTE-T Gran Tierra Energy Inc.

(Market Call Minute.) A name he would not own. They made a terrible acquisition and paid full value for an asset.


Price:
$4.070
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 COMMENT Must be logged in to use chart GXE-T Gear Energy

A good little company. They made an acquisition that was kind of like a deleveraging story. The cash flowing asset was very limited in running room, in terms of inventory. Also, their market cap is too small for many professional investors to care. Until you can get the market cap up considerably higher, he doesn’t know if people will get very excited about the name.


Price:
$0.780
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 DON'T BUY Must be logged in to use chart MEG-T MEG Energy Corp

(Market Call Minute.) Debt is simply too high. You have to be a believer in $70+ to think that this would be a going concern. Interest expense takes up so much of their cash flow, you are hampered by how much money has to go to the bank rather than going into the field.


Price:
$5.910
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Unknown
2016-10-07 PAST TOP PICK Must be logged in to use chart NBZ-T Northern Blizzard Resources INC

(A Top Pick Oct 22/15. Down 18.86%.) Sold his holdings in the mid-$40 range. The focus is really on the dividend, so it is largely held by 2 private equity firms that are taking the dividend in stock giving it about an 8% dilution per year.


Price:
$3.670
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
No
2016-10-07 COMMENT Must be logged in to use chart NYX-X NYX Gaming Group Ltd

This has been slowly coming off the lows and is now at $2, which is still well down from where it was earlier this year. At $2, it is trading at about 18% free cash flow yield. Looking out, that is like 10X earnings on 2017, highly inexpensive relative to the underlying business fundamentals. An industry that is growing an organic rate of about 8%-10%. It is just going to take some patience.


Price:
$1.970
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-10-07 PAST TOP PICK Must be logged in to use chart NYX-X NYX Gaming Group Ltd

(A Top Pick Oct 22/15. Down 21.65%.) There is a stink in the industry due to Amaya and Intertain, and then you’ve got this little company that made a transformational acquisition of Open Bet. Prior to that, they had been posting organic growth rates of about 30% top line. The industry is growing at a minimum of 10%, and this company is growing at a premium to that.


Price:
$1.970
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
Showing 1 to 15 of 1,145 entries
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6 Comments

petersirie

December 17th 2012 at 6:46pm

Keep up the quality commentary please. I have really appreciated your insight.

boblewellyn@yah

March 16th 2013 at 7:50pm

There is a report that Petrobakken has started a gas injection program that has substantially increased their production and reserves. Stock closed at $9.50 on Friday, March 15, 2013, probably because of this report.

car2nz

April 10th 2014 at 3:12pm

When Eric says BUY...You should be SELLING ...When he says Sell...You should be BUYING. He is consistently WRONG! It's amazing!

BeauRegard

April 21st 2014 at 3:36pm

Not the sharpest knife in the drawer!

CH-Investments

April 26th 2014 at 10:04am

Not a fan of all his picks but some of them have great potential to generate a large profit. Have found a number of decent picks here and have done my own analysis which has made me operate at a decent profit.

3clicks

June 1st 2016 at 9:35am

I like Eric for his overall market commentaries. But gotta be cautious with his picks although BTE was a great advice.


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