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

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Mohsin Bashir

Markets.  He sees a little bit of opportunity in the TSX.  It did spectacularly well last year and it will be hard to replicate it.  The sectors that have outperformed the most are counter intuitive – utilities and telecommunication stocks.  They tend to be bond proxies and you won’t get the relative benefit in a rising rate environment.  He has seen opportunity in alternative energy, however.  We are trading at high PE multiples but we are having earnings grow into these multiples.  These may last for quite some time until there is a rollover of the cycle.  He would prefer financial services, and businesses that are tied to services in the industrial area.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Market. Everyone is worried that valuations are a little rich. We are in the middle of the earning season right now and investors still seem to be a little undecided. The bullish sentiment has spiked up a little lately. He expects a little pause until next week’s Fed. The growth Index showed it was a little extended in 2000 because of the Dot.Com bubble. This was followed by a housing bubble in 2008. A chart like this doesn’t tell you when to get out or what to invest in. There will be a little pause next week, and then we are going to have a really, really strong bull market in industrials, base metals and energy. Defensive areas such as utilities, bonds and staples should be underweight in a portfolio. As we get later into the period, you want to start to look for repositioning a portfolio, but for now the cyclicals are firing on all cylinders. To protect yourself, make sure you have a ballast between the procyclical defences, and you use stop losses.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Crude Oil? Chart shows this has made a little bottom. There is a seasonality that starts in the summer. The good news is, we don’t have to wait too long to figure it out. If we break $45 and move down in July, probably all bets are off, and it will probably go down to $39. In the short term, the upside will probably be $55, but there is a seasonality, so he is expecting it to push.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Cdn$? Once we broke 130, which wasn’t that long ago, we could get to 125. Once we get there, you are sort of looking at $.80-$.81. If we have this pro-growth move he is expecting, you are probably going to see the Cdn$ waiting to participate. The caveat is that technicals say we should stop here for a little bit. However, if we get that pro-growth move, he could see it going to $.90 kind of fast, but the Gov. of the Bank of Canada is going to have a conniption.


Price: $0.020
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: _N/A
2017-07-20 TOP PICK Accenture Ltd.
ACN-N
Hap (Robert) Sneddon FCSI

Sort of quasi businesses where you would see some capital spending. They act like the market and have the same beta, but has outperformed the S&P. Chart shows a nice, brilliant trend. They are connected with pretty much every company you could see out there. (Analysts’ price target is $$133.50.)


Price: $128.540
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 TOP PICK AGF Management (B)
AGF.B-T
Hap (Robert) Sneddon FCSI

This sort of fits in with his pro-growth theme. Financials are part of that. This one is a bit unique. Chart shows a long downtrend, which it broke through in April. You also got a signal in June for the longer-term. They didn’t execute very well for the last number of years, and were slow to change. Pays a decent dividend. Thinks there are a lot of tailwinds for this company. (Analysts’ price target is $7.)


Price: $7.210
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 BUY Altagas Ltd
ALA-T
Mohsin Bashir

He has been adding to this one at these levels. He likes it because it gets painted with the same brush as other oil companies, but it is much more diversified. There is a high degree of certainty for their revenues and cash flows. There is high visibility. They are starting to amass assets in the alternative energy space.


Price: $29.640
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 COMMENT Altagas Ltd
ALA-T
Hap (Robert) Sneddon FCSI

This runs between a quasi-utility and sort of a quasi-gas company. The chart shows a really big basing pattern from 2015. They just acquired something, which makes the company a little better, but the trend has gotten a lot tighter in the last little while, which is quite positive. Gas has seasonality, which starts kicking in right now. Anything below $30 on the stock is a really good deal. Dividend yield of 7%.


Price: $29.640
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-20 HOLD Brookfield Asset Management (A)
BAM.A-T
Mohsin Bashir

It is being viewed as a REIT in many ways and being stagnated due to the rising rate environment.  Management are do a good job in terms of rates of return on invested capital.  He likes it as a long term core holding.


Price: $50.240
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 PARTIAL SELL Cott Corp
BCB-T
Hap (Robert) Sneddon FCSI

Beginning in May, he started getting rid of a lot of his defensive positions. The chart shows a little weakness in June. He would be selective in this space. If you own it, you’ve had a nice little gain and maybe you should take a little bit off the table. He doesn’t expect a full selloff. This has excellent support at around $16.50.


Price: $18.510
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 PAST TOP PICK BCE Inc.
BCE-T
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Up 2.52%.) Sort of lost its oomph for him after he had held it for quite a few years. Sold his holdings at around $60. Telcos tend to be on the defensive side of things, but if a good price came up, he would look at this again.


Price: $58.700
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 BUY Berkshire Hathaway Inc. (B)
BRK.B-N
Mohsin Bashir

It has been a phoenix-like rise for the Canadian dollar recently.  Given the strength of the stock portfolio it is a pretty good purchase. 


Price: $171.330
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 SELL ON STRENGTH Baytex Energy Corp
BTE-T
Mohsin Bashir

He would not own it because he looks for risk adjusted growth opportunities.  This has been a damaged story because it is just too highly levered.  It is difficult to see oil prices high enough for them to appreciate.


Price: $3.160
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 BUY CitiGroup
C-N
Mohsin Bashir

All of the US financials stand to benefit from a rising rate environment as well as a relaxed regulatory environment. This is the one he would think is more accelerated to these new environments. You should have US banks in your portfolio.


Price: $66.360
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 BUY on WEAKNESS Cineplex Inc
CGX-T
Mohsin Bashir

He likes the fact that it is a pretty recession-proof stock.  It is a lot more than movie tickets.  They have really built up gaming.  The PE has been high for quite some time.  It is not that elevated a PE considering its resilience, however.  It is a good idea to pick away at it.  You know you will keep getting dividend increases.


Price: $49.860
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Clearwater Seafoods Inc.
CLR-T
Hap (Robert) Sneddon FCSI

The chart shows this is staying below the $12 mark. A lot of indicators are sort of flat. Normally, staples do reasonably well during the summer. At worst, this is going to stick around $11.05. Indicators are right around neutral, but are trying to turn up. You want to get it above the resistance of $11.40, and then you can look at the $12 to see if the troops can get enough force to push beyond that.


Price: $11.200
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 BUY on WEAKNESS Canadian National R.R.
CNR-T
Hap (Robert) Sneddon FCSI

He is looking to buy this. It has come into his model, but he needs a little bit of discretion as to when to pull the trigger. It has seen some short-term support levels at around $106, which brought in a lot more selling down to around $103. If we get the procyclical bump in the market, he would stick around with this. Expects some weakness next week. Seasonality kicks in around September.


Price: $103.220
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 COMMENT Canadian Pacific Rail
CP-T
Hap (Robert) Sneddon FCSI

He is looking to pick up both Canadian National (CNR-T) and this one. The chart shows a long upward trend from early 2016, and has just started breaking down through the trend line. It is right at the 200-day moving average and there is a lot of resistance there. If we get the procyclical move that he is expecting, then rails should be part of that.


Price: $204.700
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 PAST TOP PICK CVS Health Corp
CVS-N
Mohsin Bashir

(Top Pick Aug 31/16, Down 15.40%) He really liked the uniqueness of the business model.  He got out.  It was unable to overcome the competitive threats.  It could benefit from a ‘Trump Bump’.


Price: $77.160
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 PAST TOP PICK Emera Inc
EMA-T
Mohsin Bashir

(Top Pick Aug 31/16, Up 2.04%) He moved on because it was one of those bond-proxy type of names.  A 4.4% dividend, but there may not be any tailwind from here.


Price: $47.270
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 BUY Alphabet Inc. (A)
GOOGL-Q
Mohsin Bashir

A good long term hold.  It is a spectacular business.  They are at the forefront in terms of using artificial intelligence and big data analytics.  They keep re-inventing themselves.  He wishes they would pay a dividend.


Price: $992.190
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Hudbay Minerals Inc.
HBM-T
Hap (Robert) Sneddon FCSI

He has taken a basket approach, which includes Lundin (LUN-T), Hudbay, First Quantum (FM-T) and Teck Resources (TECK.B-T). All have a similar looking chart. There is a long-term trend that is kind of breaking. In the short term, it just broke up through another little trend. The longer one will probably keep things encapsulated for a little bit, but it is positive. Has just started taking positions in this whole space. This one looks really good. It won’t have much resistance until he gets around $10.20, and then moves up to $11. If we are going to get a move in the market, all of this space is going to go. (See Top Picks.)


Price: $8.180
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 TOP PICK Jamieson Wellness
JWEL-T
Mohsin Bashir

It is the MacDonald’s of the vitamin business.  It is the number one Canadian consumer health brand.  They have more market share than their 5 biggest peers combined.  They have exposure in China.  He thinks it will be a success-IPO story like DOL-T.  It is now going to be a show-me story as they grow their top line.


Price: $17.050
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 COMMENT La-Z-Boy Inc.
LZB-N
Hap (Robert) Sneddon FCSI

Chart shows this is trying to get through its high of December. It has a great little trend underneath that. Has been pretty volatile. Indicators are sort of turning up. This could possibly come back to $28 still, which is where the long-term trend is, but he doesn’t expect that to happen. There is a good level at around $30 you could look at, or you could wait for the breakout above $33. Take a half position, because a lot of times breakouts have to come back to get retested.


Price: $32.550
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 TOP PICK MacDonald Dettwiler & Assoc.
MDA-T
Mohsin Bashir

They are trying to be more and more tilted toward the US.  They are trying to get more regulatory approvals in the US, which will be a significant catalyst.  (Analysts’ target: $83.00).


Price: $65.610
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 PAST TOP PICK MacDonald Dettwiler & Assoc.
MDA-T
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Down 21.15%.) Sold this soon after he had been on the show.


Price: $65.610
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 DON'T BUY Manulife Financial
MFC-T
Mohsin Bashir

It was fairly unloved for some time and he took a position.  He bought it looking for a rising rate environment.  He started seeing technical indicators showing a resistance level about where it is now.  He decided to harvest the profits and move on to greater opportunities even though it seemed just to be forming a base.


Price: $25.310
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 WATCH New Flyer Industries Inc.
NFI-T
Mohsin Bashir

He missed the bus on this one.  It has been a beneficiary of municipalities spending more on transportation.  They are securing long term contracts south of the border.  He would need to see a 10-15% pullback before trying to get into it now.


Price: $51.340
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 PAST TOP PICK Pfizer Inc
PFE-N
Hap (Robert) Sneddon FCSI

(A Top Pick May 26/16. Up 1.19%.) This is going to have a bit more of a headwind because Viagra is coming off patent next week. This is a really good space, and it has a seasonality that kicks in, in June. There are probably stronger names than Pfizer.


Price: $33.540
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: No
2017-07-20 PAST TOP PICK Quanta Services
PWR-N
Mohsin Bashir

(Top Pick Aug 31/16, Up 16.91%) He has been accumulating more of this.  The management team has been pretty astute at picking away at assets.  There is some growth as well as the dividend.


Price: $32.750
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 WATCH Russel Metals
RUS-T
Hap (Robert) Sneddon FCSI

There is a little bit of a bid underneath this whole growth profile area, particularly in oil and gas. Numbers show that the inventory is being worked off and there are a lot more rigs coming on. Chart shows a nice trend going from the lows at the beginning of 2016. Indicators are wanting to turn up, but are sort of bouncing around not sure what to do. A stock like this is going to be sensitive to all things economic. Wait until midweek next week and see what is happening with the FMC days. Take half your full position during that time. There is going to be a little resistance around $26, followed by more resistance around $28. There is a lot of seasonality on this. It usually has a fantastic August.


Price: $25.370
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 BUY Shopify Inc.
SHOP-T
Mohsin Bashir

It has been a red hot stock.  It has been a disruptor stock.  It is more of a growth type name and does not pay a dividend.  It has some pretty interesting secular growth associated with it.  They upped their guidance for yearly revenues. They report in August.  He thinks their trend is still consistently with them.


Price: $114.280
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 COMMENT Shopify Inc.
SHOP-T
Hap (Robert) Sneddon FCSI

This has been a darling. It first hit around $130, and then peaked at around $135, but then has been rolling over. However, underneath that, it has a very nice upward trend. He wouldn’t be concerned unless it broke $110. If it breaks $110, it will probably go down and test its longer-term deep support at around $85. It is really hard to tell in the short term. You want to see it hold here, or else it is going to pull back to the breakout level.


Price: $114.280
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 WEAK BUY Stanley Works, The
SWK-N
Mohsin Bashir

It is probably a little richly valued for him, but the trend is quite good.  Industrials should do better.  You will see continued demand loosely tied to housing and infrastructure.


Price: $146.660
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-07-20 COMMENT Texas Capital Bancshares
TCBI-Q
Hap (Robert) Sneddon FCSI

This had a really good day today. It looks like there have been some kind of a fundamental announcement that spiked it up. Seasonality for this stock is really fantastic in September, October and November.


Price: $81.500
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 COMMENT Take-Two Interactive Softwar
TTWO-Q
Hap (Robert) Sneddon FCSI

Chart shows a little resistance around $80 in May and June. Some risks have been reduced at around $73-$74. A lot of indicators are starting to move up. It looks like it’s going to want to go through $80.35. Good risk/reward. Expects it will be $81-$82 pretty soon.


Price: $78.030
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 DON'T BUY Trevali Mining Corp
TV-T
Hap (Robert) Sneddon FCSI

Both Stops he uses were hit today, so something is going on. All indicators are starting to roll over. There is susceptibility to $1.06. The chart is showing sort of a Bull flag. He prefers buying a basket of the junior resource companies for a very small portion of his portfolio. It looks like it wants to find support at $1. He wouldn’t stand in the way of this right now.


Price: $1.270
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Unknown
2017-07-20 DON'T BUY Under Armour Inc.
UAA-N
Mohsin Bashir

They were one of the disruptors of the industry, but some of that has now left them.  You would have a better risk managed opportunity in something like NKE-N. 


Price: $20.640
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-07-20 TOP PICK Visa Inc.
V-N
Mohsin Bashir

It is a technology company, a toll collector within that sector.  $17 Trillion turns over across the globe.  It is becoming more and more ‘electronicified’.  They are growing and getting more avenues of getting paid.  (Analysts’ target: $105.00).


Price: $98.110
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-07-20 TOP PICK iShares S&P/TSX Gb Base Metals
XBM-T
Hap (Robert) Sneddon FCSI

A basket of all the base metal stocks out there. They have a pretty long downtrend that starts in 2011, and it is just starting to poke its head above a shorter-term break. There are no guarantees, but if we are going to get this pro-growth move, base metals are going to be part of that. Thinks this is a double and a low risk by going to the basket.


Price: $11.590
Subject: TECHNICAL ANALYSIS
Bias: BULLISH
Owned: Yes
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Energy. It has been a tough, tough space to be in for the first 7 months of the year. It is record-setting because for the last 27 years, the energy index has never fallen for 7 sequential months in a row. He is optimistic that given the trends we are seeing in the US inventory drawdowns, the market is going to wake up to the fact that things have been improving since July of last year. Things are not as bad as you would think, and oil is heading higher in the next couple of months. Had thought that the timeframe for a change in thinking would be roughly September, but that has now been pushed back to about March 2018. There are 3 reasons for this. 1.) The biggest one is Libya and Nigeria both coming on bringing on almost a half a million barrels per day since the beginning of the year due to geopolitical situations. 2.) The dislocation between OPEC production cuts of 1.1 million barrels per day and OPEC export cuts which only fell to 400,000. That has subsequently improved. 3.) The ramp up in the US. The rig count since the beginning of the year is up almost 50%. Despite those 3 headwinds, inventories are still falling, and we are getting closer and closer to the end point. Expects oil to be over $50 in the next couple of months, $50-$60 in 2018-2019 when the bullish picture really starts to improve. He struggles to see natural gas being much above $3.


Price: $0.020
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: _N/A
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

How do you value a frac sand company? One way would be by calculating the cash flow stream over the 50ish years of reserve life. A quicker and easier way is to just look at, on a forward basis, the total value of the company (debt+ market cap divided by cash flow) and relate that back to historical multiples. The US names have typically traded from 7 to 8 times, and today they are trading 3 to 4 times.


Price: $0.020
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: _N/A
2017-07-19 N/A A Comment -- General Comments From an Expert
A Commentary
Veronika Hirsch

Market. The Canadian economy is doing all right, but you look at the composition of the index and it is mostly oil, gas and banks. Then we had the Home Capital effects which spilled into the banks, and they became unloved. Oil and gas fundamentals have not been great this year. The base metals and all the other resources had a little bit of a lift in the last little while, but it has also been going down in the first 6 months of the year. Banks will probably do okay, but it pretty much depends on what oil and gas does. Everybody is looking for a rally in oil and gas, but no one knows how long it will last or how good it will be.


Price: $0.020
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: _N/A
2017-07-19 COMMENT A Comment -- General Comments From an Expert
A Commentary
Veronika Hirsch

Cannabis? She hasn’t done enough work to recommend one name over another. Every day there is a new name that comes up on her screen, and it is getting to be a crowded space. In the long run, whatever the politics, etc., her experience is that the front runner and the consolidator will be the name to own. It’s a little early to tell at this time.


Price: $0.020
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
2017-07-19 DON'T BUY AGT Food & Ingredients
AGT-T
Veronika Hirsch

(Market Call Minute.) She would avoid this.


Price: $25.360
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Athabaska Oil Sands Corp
ATH-T
Eric Nuttall

If you want to be in Canada, and want a very small cap and uber leverage to the oil price, this is a pretty good pick. They did a royalty deal on their oil sands project, which was nothing short of genius. Payments don’t start until oil exceed something like $70-$75. Their total cash/cost break-evens are around $44. If you are a believer in $65-$70 oil, this stock could really, really work. If you are a believer that we are stuck in a $50-$60 range for the next year, there are better areas to be in.


Price: $0.910
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: Unknown
2017-07-19 PAST TOP PICK A&W Revenue Royalties Income Fund
AW.UN-T
Veronika Hirsch

(A Top Pick July 20/16. Down 0.09%.) It went up, and she took her profits. In their last earnings report, same-store sales have actually been negative, and they had been reporting double digit growth. If they return to positive same store sales, she will be a buyer again. Dividend yield of 4.8%.


Price: $32.200
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 DON'T BUY Blackbird Energy Inc
BBI-X
Eric Nuttall

Too small and there is too much uncertainty around the prospectivity of their acreage as well as their competitive edge in completion technology, which he thinks they have a 10% interest in.


Price: $0.365
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 TOP PICK Brookfield Infrastucture Partners
BIP.UN-T
Veronika Hirsch

Infrastructure is the buzzword of every western government on the planet. What happens when they financed new infrastructure, they have to sell something. Nobody has a budget for new infrastructure. That is when this company comes in. They are capable of joint venturing with someone and can buy fairly chunky assets. Dividend yield of 4.7%. (Analysts’ price target is $42.)


Price: $50.160
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 PAST TOP PICK Birchcliff Energy Ltd.
BIR-T
Eric Nuttall

(A Top Pick July 29/16. Down 32.42%.) Management has always been underappreciated. They’ve done a really good job in building an asset base, and most importantly, paying down debt. Have a fairly good 5-year growth plan.


Price: $6.370
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 DON'T BUY Baytex Energy Corp
BTE-T
Eric Nuttall

There is absolutely no reason to own this right now. They’ve too much debt, and lack the ability to meaningfully pay it down. This was a result of their entry into the Eagle Ford. When comparing what they look like in terms of growth rate relative to valuation, in Canada the average intermediate oil company is expected to grow next year by about 15%, with an average multiple of 5.2X EV to future cash flow. This company is expected to grow by 1% and is trading at 5.7X.


Price: $3.240
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 BUY Boyd Group Income Fund
BYD.UN-T
Veronika Hirsch

She would be comfortable putting new money to work at these levels. She keeps buying this until something goes wrong, and there hasn’t been anything that has gone wrong. The last quarter was a little weak, but was really nothing to do with anything but the weather, which was too good. They have a lot of acquisition opportunities.


Price: $95.000
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 COMMENT Cameco Corporation
CCO-T
Veronika Hirsch

If you want to own uranium, you own this stock because it is the pure play and the best play in the world for uranium. She doesn’t see demand coming back. The Japan story has been problematic. Every time there is a new plant supposed to be started, locals get involved and it gets killed. Also, periodically there are countries talking about switching out of uranium. She doesn’t see a robust demand for uranium.


Price: $12.620
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 COMMENT Calfrac Well Services Ltd
CFW-T
Eric Nuttall

This operates in Russia, Argentina, US and Canada. Fracing demand, in both Canada and the US, exceeds available supply. As pricing has been going up, this has been a beneficiary. What keeps him from investing in this is their balance sheet. They simply have too much debt, and it removes their strategic flexibility.


Price: $3.150
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 PAST TOP PICK Cardinal Energy Ltd
CJ-T
Eric Nuttall

(A Top Pick July 29/16. Down 42.97%.) If you believe in $55 oil, $9 would be a very reasonable price for the stock. The company just did an acquisition which was not very well received. Selling at really cheap levels.


Price: $4.910
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 COMMENT Canadian Imperial Bank of Commerce
CM-T
Veronika Hirsch

This is early days and we don’t know how their US acquisition is going to work out. It has the largest proportion of assets in mortgages, which might be a negative going into a recession if we have a real estate correction.


Price: $108.930
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 TOP PICK Computer Modelling Group Ltd
CMG-T
Veronika Hirsch

They recently had a joint venture with Baker-Hughes (BHGE-N), where Baker Hughes is co-marketing one of their products. It would make sense for Baker Hughes to take over this company. Schlumberger (SLB-N) is the only company with a competing product. (Analysts’ price target is $9.50.)


Price: $9.620
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Yes
2017-07-19 HOLD Canadian Natural Rsrcs
CNQ-T
Veronika Hirsch

(Market Call Minute.) This is a hold.


Price: $38.390
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: Unknown
2017-07-19 SELL Crescent Point Energy Corp
CPG-T
Eric Nuttall

If you own this, he would Sell it. Get your tax loss and move on to another name which has more upside. Management has clearly struggled for a couple of years to regain investor confidence after several stock issuances, that came with mixed messaging. There is just too much history to see this one outperform.


Price: $9.830
Subject: ENERGY
Bias: OPTIMISTIC on OIL
Owned: No
2017-07-19 WAIT Cenovus Energy
CVE-T
Veronika Hirsch

They made an acquisition, and everybody thought they overpaid. Now they have a balance sheet problem, so before you get involved, wait to see what they dispose of and how much they get for it. She wouldn’t rush into this until they fix the balance sheet a little.


Price: $9.660
Subject: CANADIAN & ALTERNATIVE INVESTING
Bias: UNKNOWN
Owned: No
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