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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: MRE
I wish to get your opinion on MRE Q4. LNR also missed recently. AM was OK. MG missed but was positive on outlook so went higher.
Scotia says:
■ MRE reported Q4/12 adjusted EPS of $0.15 (excluding $0.23 in severance costs, restructuring charges, and customer chargebacks), which was below our estimate of $0.19
and consensus of $0.17.
Implications
■ The miss vs. our forecast was on sales (largely North America). D&A was also higher than we expected, resulting in a lower gross margin (including D&A) vs. our forecast. The miss
vs. consensus was on margins, partially offset by better-than-expected sales.
■ Q1/13 guidance a bit light. MRE expects sales (excluding tooling) of $700M-$720M and EPS of $0.22-$0.26. This compares to our estimates of $782M and $0.26, respectively. Q1/13 consensus EPS is $0.25.
■ Operational update. Shelbyville is experiencing improved throughput with less overhead and labour. The facility was profitable in February and cash flow positive in January.
Continued operating improvements are expected. Hopkinsville is improving but not yet profitable.
■ Our take. We are encouraged that operations in Kentucky are improving. Overall, we do not anticipate material changes to our investment thesis.
Read Answer Asked by Kevin on March 21, 2013
Q: hi team,i want to add mcb to my portfolio, is today as good a time as any to jump in. any new info. you would like to add before i do ? tkx. as always pat
Read Answer Asked by patrick on March 21, 2013
Q: Hello Peter and team can I get your outlook and opinion on "RNX" is there a reason for this stock not being higher I thought the management team was good? Would it be worth averaging down my cost being 1.76. Thanks, Nick
Read Answer Asked by Nick on March 21, 2013
Q: Southern Investigative Reporting Foundation recently issued a report that questioned Brookfield Asset management 's corporate structure and accounting methods, This. it seems, has prompted a sell-off in the shares and a number of their subsidiaries. BEP.un is currently included in your Model Portfolio.The shares continue to trend down and in view of the recent report are you still comfortable with keeping these shares in your Model Portfolio?
Read Answer Asked by John on March 21, 2013
Q: Renegade Petroleum Ltd RPL:TSXV - the above stock plunged 6.5% any comments. Is their pay out ratio out of line or has some company related event triggered the selling ???
Thanks
Yossi
Read Answer Asked by JOSEPH on March 21, 2013
Q: Hi Peter,

Fortuna silver declared its results today. Could you pls comment on their results.

Thanks
Paul
Read Answer Asked by Paul on March 21, 2013
Q: I just checked BNN's top picks for today and noticed that one of the guests - whose name is not listed as Peter Hodson had 3 top pix : tou, acq and wpk ... all rather familiar i5 favorites. Did BNN get the guest name wrong or could this be an example of "imitation being the sincerest form of flattery"? Seems like too much of a coincidence!

If so I hope the guest has at least paid for a membership :)

Read Answer Asked by Donald on March 21, 2013
Q: Hi Peter and Team, I am so pleased to read the thoughtful comments you continue to provide. Thank you.I am interested in knowing whether there is information regarding earning dates for companies? How does one find out what the EPS date will be? is there a web site listing one could look up for this ?Thank you Phyl in BC
Read Answer Asked by Phyllis on March 21, 2013
Q: re: ATP.DB.A Atlantic Power subordinated debenture 6.25% 15 March 2017 @$13.00 Trading at $85
I know your coming out with a report on ATP not good,but how safe do you think this debt will be, at discount on maturity will work out to be approx 10% per year
Read Answer Asked by Charles on March 20, 2013
Q: What do you think of buying high yield bonds such as TSX: CHB, iShares Advantaged U.S. High Yield Bond Index Fund (CAD-Hedged)? Thanks.
Read Answer Asked by Eugene on March 20, 2013
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