BTO

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I was wanting to get your thoughts on BTO. I’ve been holding it for about 4-5 years now, but I’ve been debating getting out of it for a while now and taking advantage of FNV while the value is down. BTO stock price has hit a point where I would consider triggering a stop loss, but once I factor in dividends, I’m nearly even. This combined with the financials of the company still looking solid has me leaning towards holding onto the stock. I also just noticed it has appeared on the growth watchlist which has me curious how much you guys have looked into the company and if it potentially could be a bull list stock in the future. Thanks.

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Asked on February 6, 2024 1:55 pm
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Hi there,

We certainly like FNV at these levels. The company has been punished due to the Panama situation and we believe it is trading at attractive valuations. We aren't likely to be adding BTO to any of our formal lists simply because we try and avoid any type of cyclical or resource-based stock unless it is what we consider best in class.

BTO might look attractive from a valuation perspective, but if one looks at where it operates - it has a high degree of geopolitical risks associated with it. As we've seen with Panama, we know ho poorly things can go in those types of regions. It would be tough to sell BTO here due to its discounted price, but on the flip side, I am not sure how long FNV will remain at these depressed prices either.

Personally, I'd have no issues making that swap as i believe FNV will provide more stability and is just a much better company overall.

Mat

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Posted by Mathieu Litalien
Answered on February 9, 2024 9:57 am
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