Kingsway Financial
Toronto symbol KFS, offers automobile insurance for drivers that standard auto insurers have rejected. This could be because of their poor driving record, vehicle type, place of residence, age or credit rating.
Long-time readers know that we are constantly reevaluating our stock picks. Below are three stocks we think you should sell.
Two of these companies face problems that will weigh on them for the foreseeable future. The third is a thin-trading stock that has moved up recently after moving sideways since 2008. Its growth prospects now appear limited.
KINGSWAY FINANCIAL SERVICES $1.31 (Toronto …read more »
KINGSWAY FINANCIAL SERVICES $2.90 (Toronto symbol KFS; SI Rating: Speculative) (905-629 -7888; www.kingsway-financial.com; Shares outstanding: 55.1 million; Market cap: $159.7 million) dropped recently after it announced that it expects to post a 2008 fourth-quarter loss of between $5.88 and $6.24 a share. (All figures except share price in U.S. dollars.) The expected loss is mainly the result of underwriting losses …read more »
KINGSWAY FINANCIAL SERVICES $6.60 (Toronto symbol KFS; SI Rating: Speculative) (905-629-7888; www.kingswayfinancial. com; Shares outstanding: 55.1 million; Market cap: $363.5 million) plans to make a number of changes that it hopes will reduce annual its costs by $20 million U.S.
The measures include job cuts, salary freezes and corporate overhead reductions. To further cut costs Kingsway will merge four of its …read more »
NORTHBRIDGE FINANCIAL CORP. $31 (Toronto symbol NB; SI Rating: Speculative) (416-366- 9544; no web site; Shares outstanding: 47.7 million; Market cap: $1.5 billion) is one of the largest commercial property and casualty insurers in Canada. This includes commercial businesses, homes and vehicles. Around 88% of Northbridge’s business is with commercial clients and 12% is in personal lines. Commercial lines are …read more »
CAMECO CORP. $24.07 (Toronto symbol CCO; SI Rating: Extra Risk) (306-956-6200; www.cameco.com; Shares outstanding: 344.6 million; Market cap: $8.3 billion) has paid $28 million U.S. for an 11% stake in Govi High Power Exploration. Govi explores for uranium in Niger in west Africa. Cameco’s interest could rise to 48% by 2012 if it invests a further $212 million U.S.
Govi Exploration …read more »
NORTHBRIDGE FINANCIAL CORP. $35.75 (Toronto symbol NB; SI Rating: Speculative) (416-366- 9544; no web site; Shares outstanding: 49.7 million; Market cap: $1.7 billion) is one of the largest commercial property and casualty insurers in Canada. This includes commercial businesses, homes and vehicles. Around 88% of Northbridge’s business is with commercial clients and 12% is in personal lines. Commercial lines are …read more »
PRT FOREST REGENERATION INCOME FUND $6.54 (Toronto symbol PRT.UN; SI Rating: Speculative) (250-381-1404; www.prtgroup.com; Shares outstanding: 9.6 million; Market cap: $62.8 million) has cut its monthly distribution by 34.2% to $0.046 from $0.07. The units now yield 8.4%.
The weaker U.S. housing market and the higher Canadian dollar has hurt Canadian forest products firms. That in turn has cut demand for …read more »
KINGSWAY FINANCIAL SERVICES $15.83 (Toronto symbol KFS; SI Rating: Speculative) (905- 629-7888; www.kingsway-financial.com; Shares outstanding: 55.9 million; Market cap: $880.6 million) offers automobile insurance for drivers that standard auto insurers have rejected. This could be because of their poor driving record, vehicle type, place of residence, age or credit rating.
The company serves other niche markets including long-haul trucking, taxi, rental …read more »
KINGSWAY FINANCIAL SERVICES $24.55 (Toronto symbol KFS; SI Rating: Speculative) (905- 629-7888; www.kingsway-financial.com; Shares outstanding: 55.9 million; Market cap: $1.4 billion) offers automobile insurance for drivers considered too risky by standard auto insurers. Major insurers may also reject them due to their poor payment history, driving record, place of residence, age or vehicle type.
The company’s other niche markets include long …read more »
