They reported realizations in the mid $40s for their WTI-based crude, and we haven't seen that for a while, although we might in the coming quarter. In their earnings release for Q-1, BTE notes adjusted funds flow cash flow for the quarter of CAD$133 mm, a figure that will probably drop substantially when Q-2 is reported. It's not like they had a choice, but it's something to be aware of if you're looking to dip your toe into BTE. You will note that working capital is a subtraction item from their credit facility.Īlso, in the not so good category, their borrowing costs have gone up substantially, from 5.25% to 8.5% and will detract from future earnings to defray. In the not so good category, they have no cash on hand, so are living off credit. So, no near-term debt wall.Īlso, in the good category is the balance of their credit line and apparent conformance with debt covenants. Hence, my "lucky rather than good" comment. The bulk of this was done just before the world received the latest "Made in China" export. They've pushed maturities back to 2024, so they've got some breathing room before running into the wall. There's good news and some bad news there.įirst, the good news. BTE doesn't bury the fact in fine print, it's right there on page 10 of the investor's presentation. They're on the hook for ~$2 bn, which is about 8X their present capitalization. Liquidity and Debt - It's better to be lucky than good Regardless of what other asset valuations we apply, the thing that matters most to me at present is its debt maturities. Is it a $0.50 stock because of some structural weakness, or a debt time bomb ticking away that will annihilate the company? Or is it a $0.50 stock due to the generally depressed market conditions that have halved oil related equities in the best case since the first of the year? Or both? Or more? It has rebounded strongly from the depths of March, but only as a matter of absolute price per share. This Canadian company has a diversified asset base with about a third of its daily production coming from the Eagle Ford in a partnership with Marathon Oil ( MRO). Note - a version of this article appeared in the Daily Drilling Report earlier this month. In this article, we will discuss the merits of BTE. Whaddya think a-boot em?"Ī little more back and forth repartee like that and I'd agreed to take a closer look at Baytex Energy Corp. Sub - "No, no, no.Baytex.Bay-T-E-X, got it? They're up in Canada. It had that girl who married Tommy Lee of." I initially thought I'd misheard and replied. Learning and keeping up with the market is the edge for trading success.In the case, this one, a member of my Seeking Alpha community asked about it recently.
MICRO CAP STOCKS CANADA HOW TO
If one wants to earn money trading, he must put in the time to study the Canadian stock market and learn how to trade TSX penny stocks. To beat the other traders, one needs to have an edge. For one trader to make money, there is someone else who loses it. Canadian penny stocks are extremely risky and it is not for someone to speculate.Īt the end of the day, everyone is trying to make money from the stock market, yet most lose money. To trade successfully in the short term, one must have discipline.
How to Day Trade Penny Stocks How to Swing Trade Penny Stocks Top 10 Penny Stock Trading Mistakes to Avoid How to Trade Canadian Penny Stocks?Īlthough Canadian penny stocks are not worth long term investing, traders may be able to profit by short term price fluctuation of these stocks.īy using technical analysis and stock chart patterns, day traders and swing traders can find trade setups to buy and sell stocks for the short term.įollowing are some articles to get you started in penny stocks trading. Simply select the price range and minimum volume, and you can get the gainers and losers of the day.
Using our TSX penny stock screener, you can easily find hot Canada penny stocks on a daily basis. Nine out of ten times, these Canada penny stocks go under, therefore they are not worth the investment in the long term.
These stocks are cheap for a reason, either the companies are having financial issues, or their products fail to gain traction. Canadian penny stocks are small cap stocks trading on the Toronto Stock Exchange or TSX.
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