Investment Q&A

• CCL Industries Inc. Unlimited Class B Non-Voting Shares (CCL.B $80.37)
  • $80.37 P/E (TTM): 16.1X Cap: $14.07B
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• Intertape Polymer Group Inc. (ITP $40.48)
  • $40.48 Cap: $2.39B
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Q: I've both CCL.B and ITP and over the years, they have grown quite a bit. I am thinking to trim back to lower their %. Please let me know if both are in about the same business. Which has a better balance sheet (less debt) and more future growth? Which of the two should I trim back or should I sell equal portion of both? Thanks and a merry Xmas to the entire 5i team.

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Read Answer Asked by Willie on December 21, 2016

• Miscellaneous (MISC)
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Q: what percentage would you be comfortable today investing in the energy sector? If I own SU, RRX AND PKI and it is about 13% of total portfolio is this too much?
Thanks
D

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Read Answer Asked on December 21, 2016

• CRH Medical Corporation (CRH $4.99)
  • $4.99 Cap: $357M
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Q: Hi Team,
You've just added CRH to your growth portfolio. I've been tracking it for a while based on your coverage and a friend's position in it. Can you please comment on its risk level? My thought is to possibly move out of Gilead Sciences (GILD) in the US and into CRH. But I am concerned about its valuation after a great year, especially when compared to GILD which has had a very bad year (and may now represent a value opportunity or dead money). I also own Knight (GUD) and iShares Biotech (IBB). Your thoughts would be appreciated. Thank you. Michael

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Read Answer Asked by Michael on December 21, 2016

• Constellation Software Inc. (CSU $4,499.37)
  • $4,499.37 P/E (TTM): 97.21X Cap: $95.52B
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Q: Is the termination today of he Redknee deal likely to be of meaningful benefit to CSU ?

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Read Answer Asked by Serge on December 21, 2016

• CCL Industries Inc. Unlimited Class B Non-Voting Shares (CCL.B $80.37)
  • $80.37 P/E (TTM): 16.1X Cap: $14.07B
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Q: CCL.B is up 18% today on news that it bought Innovia. Thoughts?

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Read Answer Asked by Andrew on December 20, 2016

• CCL Industries Inc. Unlimited Class B Non-Voting Shares (CCL.B $80.37)
  • $80.37 P/E (TTM): 16.1X Cap: $14.07B
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Q: Usually when a company makes a big purchase it's stock takes a hit, but CCL is up over 18% on the news of its purchase. Is this overdone? If you own should you sell now in expectation of a pullback, or contrarily if you didn't own now would you buy it here?

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Read Answer Asked by John on December 20, 2016

• CCL Industries Inc. Unlimited Class B Non-Voting Shares (CCL.B $80.37)
  • $80.37 P/E (TTM): 16.1X Cap: $14.07B
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Q: CCLindustries hasten up ~18% this AM. Is it purely to the purchase of Innovia or is there another reason? Is this acquisition that benificial? Thanks for your insights.

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Read Answer Asked by jacques on December 20, 2016

• Builders Capital Mortgage Corp. (BCF $9.50)
  • $9.50 P/E (TTM): 8.88X Cap: $21M
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Q: What is your synopsis on this company? It was recommended because of the high dividend.
Thank you

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Read Answer Asked by Janice on December 20, 2016

• Telo Genomics Corp. (TELO)
  • P/E (TTM): -21.9X Cap: $2M
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Q: DXD-V
3D Signatures Inc.

Knight therapeutics is investing in 3D Signatures. Should I tag along?
Given that I believe Knight knows what it is doing.

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Read Answer Asked by David on December 20, 2016

• UGE International Ltd. (UGE $2.00)
  • $2.00 Cap: $68M
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Q: UGE is a penny stock on the Venture. It is a solar energy system provider that I just recently read about. It seems to have a large percentage of inside ownership. I was wondering if you had any more information on it?

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Read Answer Asked by Harry on December 20, 2016

• Calfrac Well Services Ltd. (CFW $3.60)
  • $3.60 P/E (TTM): 18.45X Cap: $309M
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Q: Which of the drillers may have the biggest pop? Do you have a preference.

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Read Answer Asked by Donna on December 20, 2016

• Pure Industrial Real Estate Trust (AAR.UN $8.09)
  • $8.09 P/E (TTM): 7.2X
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Q: I have 7% of my portfolio in AAR.UN,Pure Ind. REIT, my only exposure to the REIT sector.I'm up about 40%& have enjoyed a 9% div. based on my purchase price 5 years ago.Income is not a big factor for me.Does Pure have enough growth potential, particularly in the US, to offset the expected interest raises in 2017 & further out?Should I keep Pure or sell in favour of ZUB, the BMO Equal Weighted US Banks Hedged to the Cdn.Index ETF? Would unhedged be better at this stage? My only US exposure is indirectly through TD & SIS.
Thanks,
Dave

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Read Answer Asked by Dave on December 20, 2016

• Miscellaneous (MISC)
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Q: IN YOUR INCOME PORTFOLIO YOU HAVE CPD,CVD,XHY AND THEy ALL HAS LOST MONEY ( - 20%, -4% AND -10%.).Does it make sense to get rid of them?Why have any bond at all?Thanks and season greeting to all.ebrahim

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Read Answer Asked by ebrahim on December 20, 2016

• Fairfax Financial Holdings Limited Subordinate Voting Shares (FFH $2,381.07)
  • $2,381.07 P/E (TTM): 8.3X Cap: $50.85B
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Q: What is your view of the Allied World purchase? Watsa describes it as "transformative" and in terms of size it does certainly seem significant. FFH share price is just off 52-week lows. Would you suggest initiating a position for a long-term hold?

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Read Answer Asked by David on December 20, 2016

• Exchange Income Corporation (EIF $73.52)
  • $73.52 P/E (TTM): 29.76X Cap: $3.85B
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Q: Hi Peter and gang,
EIF's EPS(TTM) is $1.82 and it pays a monthly dividend of $0.1750 which translates into an annual didvidend of $2.01. If my calculations are correction, EIF's payout ratio is then 110%. Would you please comment on the sustainability of EIF's current dividend payout. Also please provide comment on this company going forward.
As always, good works fellas. Regards!

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Read Answer Asked by Harry on December 20, 2016

• Stars Group Inc. (The) (TSGI $37.49)
  • $37.49 Cap: $6.60B
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Q: Please comment on the offer by Baazov being terminated? What does this mean for the future? Are the company fundamentals good? Is this a time to start buying a little?

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Read Answer Asked on December 20, 2016

• Gildan Activewear Inc. (GIL $77.86)
  • $77.86 P/E (TTM): 15.64X Cap: $11.29B
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Q: Greetings:

Can you tell me why Gildan dropped about 5% yesterday? It seemed to be rising nicely last week :(

Thank you!

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Read Answer Asked by Ken on December 20, 2016

• Dollarama Inc. (DOL $193.00)
  • $193.00 P/E (TTM): 43.7X Cap: $53.26B
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Q: What's up with insider selling in DOL?

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Read Answer Asked by Elaine or Gerry on December 20, 2016

• Argan Inc. (AGX $228.17)
  • $228.17 P/E (TTM): 33.53X Cap: $3.13B
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Q: Hello Peter and Team,

I know American isn't in your mandate, but can you give me your thoughts on AGX (Argan Inc). I am up 130% in the year, and I am still not seeing any reason to sell as it is hitting new highs.

Thanks,

Wes

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Read Answer Asked by Wes on December 20, 2016

• Velan Inc. Subordinate Voting Shares (VLN $14.42)
  • $14.42 P/E (TTM): 80.36X Cap: $314M
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Q: Please let me know what you think of Velan (VLN).
Thanks

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Read Answer Asked by DEBORAH on December 20, 2016