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
2016-05-27 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Economy. Coming into this year we had the fear of weak demand, similar to January 2015 when everybody was freaking out about a weak China and a weak global economy. Fast-forward to the end of 2015 which showed the strongest growth in 5 years. The same pattern is coming to pass this year, where once again China’s weak global economy is perceived to be weak, and yet demand is growing by about 1.4 million barrels per day. The issue was oversupply which is now almost approaching zero, courtesy of very strong demand and supply falling off the cliff, not just in the US. US production is now down to about 800,000 barrels a day from the peak. That trend will continue until we get a high enough oil price to allow for an increase in activity in the US. The rig count now is at about half of where it needs to be able to maintain flat production, let alone to grow production. For 2017, 2018 and 2019, unless we incentivize an increase in activity in the US, he thinks we will be short of oil and we will get a price hike. He thinks we are going to see $60-$65 in the next 6-12 months. January and February was the worst period in the history of the oil and gas business. We have come through that period and the worst is over.


Price:
$0.020
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
_N/A
2016-05-27 COMMENT Must be logged in to use chart BIR-T Birchcliff Energy Ltd.

The vast majority of production is dry natural gas, and has rallied along with the whole group. As people get more optimistic on oil prices, he can feel an undercurrent of euphoria on natural gas. This is on his radar screen. Thinks gas is going to get pretty damn ugly in the next couple of months. He would like a better entry point. This is probably the best way to play the natural gas leverage.


Price:
$5.620
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
No
2016-05-27 COMMENT Must be logged in to use chart BNP-T Bonavista Energy Corp

His only hang-up is that they have $1.2 billion in debt and just raised $100 million. They still have $1.1 billion of debt, and relating that to the amount of cash flow they’ve been generating, it is still about 3.5X, which is too high. He would rather buy names that have way less debt, which means that as oil prices recover they will be generating more free cash flow than they can deploy into the field, and can compress their multiples.


Price:
$3.350
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 PARTIAL SELL Must be logged in to use chart BTE-T Baytex Energy Corp

Given that they don’t have to pay a dividend any more, free cash flow would come down to maintenance capital to maintain flat production levels. His guess is that it would be in the mid-$40, because their heavy oil required a price of around $33-$34 for about half the production, and the remaining half is liquids rich gas plus light oil. If you own, consider trimming.


Price:
$6.200
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 COMMENT Must be logged in to use chart BTE-T Baytex Energy Corp

(Market Call Minute.) This had a huge move, and has reached his fundamental target.


Price:
$6.200
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 TOP PICK Must be logged in to use chart CJ-T Cardinal Energy Ltd

This has been lagging the group even though it has a great balance sheet. This company was a rock star in the oil bull days because of management, low decline rate, clean balance sheet and 80% of their production is medium gravity oil. He is looking for 50% upside from today’s share price. Dividend yield of 4.35%.


Price:
$9.780
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Yes
2016-05-27 BUY on WEAKNESS Must be logged in to use chart CPG-T Crescent Point Energy Corp

Loves the stock at $12-$19, but at $22 it is fairly valued. Management team has been great. Trading at 8X on $60 oil, and he struggles figuring out how he gets rich at this level. With the meteoric rise in the shares, it is possible that over the summer there would be a 5%-10% correction.


Price:
$22.300
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 SELL Must be logged in to use chart CQE-T Cequence Energy Ltd.

They ran a strategic review, which resulted in no buyers, and the CEO decided to leave the company. If you own, he would just sell the stock.


Price:
$0.235
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
No
2016-05-27 SHORT Must be logged in to use chart CVE-T Cenovus Energy

(Market Call Minute.) He would sell this and short it. The stock is overvalued.


Price:
$20.170
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 TOP PICK Must be logged in to use chart DHX.B-T DHX Media

This is a business with very high quality and very valuable content. Kids programming lasts way longer than your average typical TV show. They have been very successful in acquiring good brands, and then using those brands in merchandising deals. The Teletubbies used to be a $1 billion a year franchise, and the market cap today is about $700 million. They got renewal in the UK for the 2nd season and it has been launched in the US. If successful, it could do incredibly well. Dividend yield of 0.97%.


Price:
$6.580
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Yes
2016-05-27 COMMENT Must be logged in to use chart DIV-T Diversified Royalty Corp.

(Market Call Minute.) This sold off after a weak Q1 due to weak restaurant sales in Western Alberta. Believes their dividend is more sustainable than the street believes. Has been nibbling on this in its weakness. Just under 10% dividend yield, which he feels is sustainable.


Price:
$2.230
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Yes
2016-05-27 PAST TOP PICK Must be logged in to use chart GRC-X Grenville Strategic Royalty

(A Top Pick June 8/15. Down 54.43%.) This company finds small businesses that require capital, and buy royalties streams from them in exchange for cash. They are still earning very good rates of return. However, occasionally they have to take a write down. He is still buying.


Price:
$0.440
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Yes
2016-05-27 DON'T BUY Must be logged in to use chart GSY-T goeasy

Because of concerns with the Western Alberta economy, and even the Canadian economy, there are signs of weakness. The stock has always appeared cheap to him, but he never sees it reclaiming a higher multiple because there will always be the concerns that it is a highly cyclical business. Unless the economy is rip-roaring, it is not the type of stock you want to own.


Price:
$18.770
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
No
2016-05-27 COMMENT Must be logged in to use chart IT-T Intertain Group

Has been tainted with the Amaya (AYA-T) brush. Had a Short attack which drove the stock down to $8. Should they be successful in finding someone to take them out, a price range of $17-$20 is probably not a stretch. A moderate growth business, but the free cash flow they generate is massive and should be commanding a much larger premium than what it is getting. Expects there will be a full take out of the company.


Price:
$12.740
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
2016-05-27 BUY on WEAKNESS Must be logged in to use chart KEL-T Kelt Exploration

(Market Call Minute.) Basically a land bank now, so he thinks it goes quiet for the next couple of quarters, and then the management team is going to come out and tell you what they have been buying. A Buy in the high $3s.


Price:
$4.680
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
OPTIMISTIC on OIL
Owned:
Unknown
Showing 1 to 15 of 1,077 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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