Bizworld’s five favourite stocks for 2024 performed poorly compared to the benchmark TSE Composite index.
On average the five fell 2.6 per cent compared with around 20 per cent gain for the TSE index.
Low-cost gold producer, Ascot ran into difficulties mining the old Stewart, B.C deposits and needed to almost double the number of shares outstanding to stay afloat. Share price at 17.5 cents lost two-thirds of its value.
BMO, the Bank of Montreal, gained 3.8 per cent to $138.79. The dividend brought total return to 8.6 per cent, indicating the importance of dividends in investing
Altagas, a major natural gas gathering processing distribution firm and exporter of propane at Prince Rupert, gained a mere .27 per cent to $32.55. The dividend brought total return to 4.1 per cent.
Saturn Oil and Gas, an Alberta/Saskatchewan explorer and producer, increased production and profits significantly but lost 15 per cent to $1.95.
Like many smaller oil and gas producers Saturn’s value is not being recognized by investors. All oil stocks have fallen with the commodity.
Manufacturer’s Life price at $43.56 has come out of the doldrums after years, gaining 55.2 per cent plus 5.1 per cent from the dividend.
Bizworld retains Ascot, BMO and Altagas for 2025 favourites. Analysts’price consensus for them is Ascot, 75 cents; BMO, $144.22; and Altagas, $41.05
New to the list are EQB, $99,34; and Equinox Gold, $7.47
The online EQB is growing with low overhead as it has only one bank branch. Residential mortgages, personal banking and commercial multi-family property loans are the mainstay.
Analysts’ price consensus is $117.80
Equinox Gold operates mines in Brazil, Mexico, California and Canada.
Debt was increased to 46 per cent of equity to buy 100 per cent of the new Greenstone mine in Ontario. A takeover of the Argonaut mine in Ontario will reduce milling costs.
With full production from Greenstone and expansion projects, Equinox plans to produce 700,000 ounces of gold in 2025, up from about 550,000.
Analysts’ price consensus is $9.94
Prices used in this column were from Dec. 21, 2024.
CAUTION: Remember when investing, consult your adviser and do your homework before buying any security. Bizworld does not recommend investments.
Ron Walter can be reached at [email protected]
The views and opinions expressed in this article are those of the author, and do not necessarily reflect the position of this publication.
