The last two weeks we saw some crazy swings in the market. Some stocks have recovered slightly but are still trading at attractive levels. For those interested in
dividend stocks I would take a look at
BCE.to- 5.45% yield. BCE has recovered slightly, but still offers a lot of value. I also like
Sunlife Financial -SLF.to 5.45% yield. Sunlife has pulled back during the market down turn and looks very attractive. Even though I am not a big fan of American Banks, I am looking at
Bank Of America- BAC. BAC would be a short term play/trade, looks very attractive at $7.19. We could see a $2.00 gain in the short term. I took a position in
Suncor SU.to at $32.00-
I couldn't resist. They don't pay a great dividend, but you can expect to see this stock trading higher as oil prices move back up again. Suncor should be considered a long term play in most portfolio's. I have also increased my position in
Perseus Mining-PRU.to. Prior to the market sell off PRU.to was trading around $3.40. The market sell off pushed this stock down to almost $3.00. I saw an opportunity and increased my position between $3.06-$3.10. Perseus Mining is starting to get market attention as they get ready to start production. Plus, it's a very attractive take over target.
Osisko Mining-OSK.to -my biggest holding- is looking very attractive at $13.40. Over the next 18mths the company should produce around 1 million oz. of gold. The market will eventually realize that
OSK will be a cash cow gold producer. Read the press release the company
released Aug.11th. -
see website:
http://www.osisko.com/en/index.htmlSean Roosen-CEO said this in the news release:
The Canadian Malartic operations are expected to produce between 235,000 and 245,000 ounces of gold during the second semester of 2011 at an estimated cash cost of between $675-$775 per ounce. The progression is anticipated to continue in 2012 with the mine producing approximately 700,000 ounces at an estimated cash cost of $450-$500 per ounce.
Sean Roosen commenting on the forecast: “We are aiming to produce one million ounces over the next 18 months in a very favorable gold market. The expected strong margins should result in a payback of the project in slightly less than two years”.
Investors should also take advantage of the sell off we saw in Centamin Egypt-CEE.to. At current price the stock looks very attractive.
Centamin Egypt -article regarding sell off: http://www.proactiveinvestors.co.uk/companies/news/31413/city-analysts-say-buy-centamin-egypt-as-stock-falls-over-25-pct-31413.html
NEW PICK: Porto Energy-PEC.v
Porto Energy is a fairly new listed company that had an IPO earlier this year at $1.00. The stock has been on a slide due to the market sell off and is now trading around .50 cents. The company has aprox. $60 mil. in cash and 257.8mil. fd. outstanding shares. At current prices I see some big upside in this stock and they continue with their exploration program. Plus, the market sell off have given investors the opportunity to buy this stock at current levels. TD Newcrest had a $2.50 target on the stock and revised it on Aug. 14th to $1.70. TD's reduced target still represents a 227% return. This is a speculation play with the potential of being a 5 banger. The drill will tell the story. Do your due diligence.
Investor Presentations: http://www.portoenergy.com/investorpresent.html
