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David Cockfield, senior vice-president and managing director for Northland Wealth Management. (Screenshot/BNN)
David Cockfield, senior vice-president and managing director for Northland Wealth Management. (Screenshot/BNN)

BNN Market Call

3 top stock picks from Northland's David Cockfield Add to ...

David Cockfield is senior vice-president and managing director of Northland Wealth Management.

Top picks:

Baytex Energy
A well-managed Alberta heavy oil producer with a consistent record of increasing production earnings and dividends. The company has a sustainable payout producing a yield of 5.57 per cent. The company has significant undrilled land and improving technology will increase recovery rates.

Sprott Gold Bullion Fund (Series F - SPR226)
The Sprott Gold Bullion Fund offers investors the means to own gold bullion directly rather than purchasing a gold mining stock. The fund is hedged to the Canadian dollar with the gold held at the bank of Canada.

Canada’s largest communications company, with an aggressive growth-oriented management.  Dividends have been increased on a regular basis and the stock presently yields 5.1 per cent.  The acquisition of Maple Leaf Sports in partnership with Rogers Communications should provide additional profit growth potential.

Past Picks:  Aug. 19, 2011

Kinross Gold
Then: $16.64
Now: $8.92
Total return: -45.77 per cent

NAL Energy - acquired by Pengrowth 6/6/2012
Then: $9.21
Now: $6.53
Total return: -24.07 per cent

Power Financial
Then: $25.74
Now: $25.13
Total return: +3.01 per cent

Total return average: -22.27 per cent

Market outlook
The TSX recently reached a recovery high of 12,118, a rise of some 838 points from the lows reached in May. The potential for further gains is questionable as problems in Europe are again likely to dominate the headlines. Time is running out for the Greeks and their request for more time to solve their deficit problems will likely be rejected by the EU. Since it is unclear how the departure of Greece from the EU can be accomplished and the financial impact it might have on the banking systems, uncertainty will have a negative impact on markets. Any quick solution with minimal impact on the European banking systems would be very positive for markets.

Watch Mr. Cockfield on BNN.

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