Q: Hi Peter, Ryan, and Team,
The last question about NOA was on April 21. Do you still hold the same views?
I'm wondering why this stock is classified as 100% energy. When I look at their website, they seem to have a large stake in non-energy sectors, like metals and mining.
Finally, does 5i hold much stock (sorry) in the "Recent Breakouts" column in the Globe and Mail? NOA was recently featured.
Thanks.
The last question about NOA was on April 21. Do you still hold the same views?
I'm wondering why this stock is classified as 100% energy. When I look at their website, they seem to have a large stake in non-energy sectors, like metals and mining.
Finally, does 5i hold much stock (sorry) in the "Recent Breakouts" column in the Globe and Mail? NOA was recently featured.
Thanks.
5i Research Answer:
We don't think much has really changed here. Shares remain cheap, solid top-line growth is expected this year (16%), there is some debt on the balance sheet but otherwise the fundamentals look solid.
On sector, sometimes the classification groups just need to choose a sector and go with it. It is not always perfect but we think energy is probably a fair classfiication.