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Expert Says, 'Buy Selectively in This Vulnerable Market'
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Adrian Day Today, expert Adrian Day sends a revised Current Positions table, updating dividends paid and current recommendations. Prices are as of early afternoon yesterday.

Given the recent rallies in markets and ongoing concern about another leg down, we have few buys at current prices right now.

Most positions are marked “hold” which is not necessarily a prelude to a sell. In most cases, it is because of valuation or concern about a decline in price in the relatively near term.

 

Current Positions

 

Stock

Symb:Exch

 GA#

Purchase

Date*

Purchase

Price^

Dvd.

Paid#

Current Price±

Current Recommendation

Osisko Royalties5,15

OR.NY

157

2002-11-01

0.175,19

1.53

12.25

HOLD

Vista Gold7, 17

VGZ.NY

221

2004-05-03

2.36 7

--

0.553

HOLD

Wheaton Precious Metals20

WPM.NY4

246

2004-12-09

2.253,4

4.16

37.71

HOLD

Altius Minerals

ALS.To

275

2005-07-08

C$3.52

1.37

C$20.92

HOLD

Gladstone Investment

GAIN.Na

281

2005-08-01

15.12

14.85

14.10

HOLD

Altius Minerals6

ALS.To

380

2008-08-14

C$6.30

1.37

C$20.92

HOLD

Nestle

NESN.SW

395

2008-12-17

Sfr41.21

33.23

Sfr113.50

BUY < Sfr108

Midland Exploration

MD.To

397

2008-12-22

C$0.44

--

C$0.34

BUY < C$0.355

Franco-Nevada Corp

FNV.NY12

431

2009-10-21

27.23

10.57

141.03

HOLD

Cartier Resources

ECR.To

443

2010-03-25

C$0.33

--

C$0.09

HOLD

Vista Gold17

VGZ.NY

459

2010-08-10

1.36

--

0.553

HOLD

Reservoir Capital

REO.To

481

2011-09-02

C$164011,13

--

C$1.6513,24

HOLD

Lara Exploration

LRA.To

483

2011-09-26

C$1.23

--

C$0.92

BUY < C$0.77

Reservoir Capital

REO.To

490

2012-03-14

C$930.0013

--

C$1.6513,24

HOLD

Kingsmen Creatives

KMEN.SP

497

2012-06-14

S$0.66

0.20

S$0.25

BUY < S$0.245

Hutchison Port Holdings

HPHT.SP

525

2013-07-09

0.75

2.1326

0.179

BUY < $0.175

Royal Gold

RGLD.NY

527

2013-09-09

56.00

9.58

106.57

HOLD

Ares Capital

ARCC.Na

546

2014-10-14

15.30

12.79

19.26

HOLD

Azucar Minerals16, 21

AMZ. To

N/A

2015-08-14

C$0.71

--

C$0.06

HOLD

Almadex Minerals16, 21

DEX. To

N/A

2018-05-28

C$0.40

--

C$0.32

HOLD

Orogen Royalties23

OGN.To

700

2018-08-12

C$1.06

--

C$0.405

BUY < C$0.415

Lara Exploration

LRA.To

708

2018-11-11

C$0.55

--

C$0.92

BUY < C$0.77

Fortuna Silver

FSM.NY

723

2019-04-05

3.43

--

3.53

HOLD

Orogen Royalties23

OGN.To

737

2020-01-27

C$0.32

--

C$0.405

BUY < C$0.415

Barrick Gold

GOLD.NY

760

2020-11-17

$25.52

1.17225

$15.69

BUY < $15.30

Pan American Silver

PAAS.Na

777

2021-06-18

28.70

0.79

$15.13

HOLD

Agnico Eagle

AEM.NY

792

2021-11-08

53.60

1.55

$49.09

HOLD

Na= Nasdaq. To=Toronto. NY=New York. *The 1st day on which a subscriber could have filled at our limit. ^The highest price at which subscribers could have bought (lowest if sold) based on recommendation. Many would have obtained better prices. #Dividend Paid is the total amount received per share since purchase. ±Current offer prices in U.S. dollars, unless otherwise noted. 3Price reflects one-for-four consolidation. 4Stock now trades on NY; purchase price adjusted to the U.S. dollar equivalent. 5Virginia Gold sold a property to Goldcorp and changed its name to Virginia Mines, and consolidated 1-for-2. We allocated our cost between Goldcorp and Virginia; the purchase price shown reflects the consolidation, but keeps our original purchase date. We sold Goldcorp (although subsequently we purchased it again). 6 This is a new additional purchase of the stock already in our portfolio. 7In May 2007, Vista shareholders received Allied Nevada in a distribution. We have reduced the cost basis for Vista and allocated part of the cost to Allied Nevada. 11Received as spin-off from Reservoir Capital, in ratio of 0.191482444 of RMC for each REO. We have reduced the cost basis for REO accordingly. 12Originally purchased on Toronto; now trades NYSE. The cost has been converted to U.S. dollars. 13Reservoir consolidated its shares 1 for 20 in March 2014. Our cost basis reflects this. In August 2020, the stock consolidated again on the basis of one for 100 shares. Our cost basis reflect this. 15We acquired Osisko when it merged with Virginia Mines. The merger was at a ratio of 0.92 shares; our cost basis has been adjusted.  16In August 2015, Almaden split into two, with shareholders receiving one share of “new” Almaden and 0.6 of a share of Almadex, a new exploration company. We allocated our cost basis for the two, adjusting the cost for Almaden. 17We bought Vista Gold three times; we sold one of the three positions June 2016. 19Stock now trades on a U.S. market. We have adjusted our purchase price to reflect this. 20Name and symbol change from Silver Wheaton, May 2017.  21On May 28, 2018, Almadex Minerals split in two. Almadex Minerals changed its name to Azucar Minerals, retaining the symbol AMZ, while the spin off retained the name Almadex Minerals, with the symbol DEX. We have adjusted the cost basis of Azucar for the value of the Almadex spin off.   23We originally purchased Evrim Resources.  In August 2020, it merged with Renaissance Gold and changed its name to Orogen Royalties. For Evrim, this was on a one-for-one basis, so we have kept our same cost basis. 24Halted. 25Includes two return-of-capital payments. 26Paid in Hong Kong dollars. Complete Revision, November 28, 2022.

As always, the “buy below” price in the current recommendations combines what we think a stock is worth as well as the price at which we think it is reasonable to think it could be purchased in the near term.

I am sure that in the next month or two, we shall have a lot more buy recommendations. In recent months in the regular Bulletins, nearly every stock on the list has been rated as a buy at some point, many more than once. In this market environment, we want to be selective, not only in what we buy but when and at what price.

I also expect to have some sell recommendations in the coming months to make space for some new buy recommendations when appropriate.


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Adrian Day Disclosures:

Adrian Day’s Global Analyst is distributed for $990 per year by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. www.AdrianDayGlobalAnalyst.com. Publisher: Adrian Day. Owner: Investment Consultants International, Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor’s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. © 2022. Adrian Day’s Global Analyst. Information and advice herein are intended purely for the subscriber’s own account. Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively.

Disclosures:

1) Adrian Day: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: All. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Funds controlled by Adrian Day Asset Management, which is unaffiliated with Adrian Day’s newsletter, hold shares of the following companies mentioned in this article: All. I determined which companies would be included in this article based on my research and understanding of the sector.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services, or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees, or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in the securities mentioned. Directors, officers, employees, or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company release. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of  Wheaton Precious Metals Corp., Pan American Silver, and Agnico Eagle Mines Ltd., companies mentioned in this article.

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