TopPicks from Eric Nuttall, partner and senior portfolio manager, Ninepoint Partners
Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, discusses his top picks: Tamarack Valley, Athabasca Oil, and Cenovus Energy.Tamarack continues to be punished for its active mergers and acquisitions streak in 2022 which created an overhang on the share price and annoyed existing shareholders by deferring their payday in the form of meaningful dividends and buybacks by several quarters.
Trading at a 13 per cent/23 per cent free cash flow yield at US$80/US$100WTI this year and a 20 per cent/29 per cent free cash flow yield at US$80/US$100WTI in 2024, we see the company being able to privatize itself in ~three years from free cash flow. With $3.3 billion of tax losses for which the market ascribes zero value , we see the potential for ATH to be acquired at some point in the next two years and think fair value is 5X 2024 EV/CF at US$100WTI=$6.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nipsey Hussle’s killer Eric Holder Jr. gets 60 years to life in prisonEric R. Holder Jr., 33, was found guilty of the 2019 first-degree murder of the 33-year-old Grammy-nominated hip-hop artist outside the clothing store Hussle founded, the Marathon, in South Los Angeles
Read more »
Toronto is the top city in Canada for UFO sightings by a wide marginIf you had brought up UFOs in a serious conversation a decade ago, you probably would have been laughed out of the room. Now firmly in the mainstre...
Read more »
Wagner boss Prigozhin escalates row with Russia's top army brass with image of dead troopsWagner chief Yevgeny Prigozhin took a bitter public feud with Russia\u0027s top army brass to a new level on Wednesday.
Read more »
B.C. teacher suspended for dragging student from class and falling on top of themThe student had a specialized learning plan that the teacher wasn\u0027t familiar with and it caused embarrassment and anxiety
Read more »
B.C. teacher suspended for dragging student from class and falling on top of themThe student had a specialized learning plan that the teacher wasn\u0027t familiar with and it caused embarrassment and anxiety
Read more »
Room to grow earnings at Tim Hortons, Burger King, Popeyes and Firehouse Subs, top executive saysThe new executive chairman of Restaurant Brands International Inc. has laid out a sweeping vision for the fast-food giant’s four chains, with plans to borrow from his winning playbook as CEO of Domino’s Pizza
Read more »