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BNN Market Call

Three top stock picks from Sprott’s Eric Nuttall Add to ...

Eric Nuttall is portfolio manager at Sprott Asset Management. His focus is oil and gas stocks.

Top Picks:

Legacy Oil + Gas

U.S. money is returning and Legacy should be at the top of their shopping list trading at 4.5X EV/CF versus a 15 year reserve life and the ability to more than double reserves beyond that. Regaining a fraction of their former multiple after five quarters of beating expectations would result in a $9+ stock.

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TORC Oil & Gas

Great well results in several plays could lead to a guidance and dividend increase in the next few months. TORC can pay the current dividend and grow by 8 per cent per year while spending less than their annual cash flow.

Athabasca Oil

Legal conclusions in the coming months should allow them to receive $3.30/share in cash from Petrochina. That combined with a possible joint venture on their Duvernay acreage could lead investors returning to the story after a few very frustrating years. Asset value exceeds $10/share.

Past Picks: September 19, 2012

Painted Pony Petroleum
Then: $10.13
Now: $8.00
Total return: -21.03 per cent

Whitecap Resources
Then: $7.56
Now: $12.08
Total return: +66.28 per cent

Crescent Point Energy
Then: $43.55
Now: $38.69
Total return: -4.61 per cent

Total return average: +13.55 per cent

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