DUNDEE CORP. $17(Toronto symbol DC.A; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 53.5 million; Market cap: $909.5 million; Price-to-sales ratio: 4.5; No dividends paid; TSINetwork Rating: Average; www.dundeecorp.com) owns businesses in the wealth management, real estate, natural resource and agriculture industries.
Dundee is more risky than most of the stocks we recommend. Many brokers avoid it due to its complex holding company structure, so it has little following among institutional investors. Irregular earnings from real estate and resource operations also add to its risk, and the lack of a dividend hurts its appeal.
However, like most holding companies, Dundee typically trades at a discount to the market value of the assets it held. Occasionally, it would unlock some of this value, as it did in 2011 when it sold its Dynamic mutual fund operations. In 2013, it spun off its commercial real estate subsidiary —DREAM Unlimited (Toronto symbol DRM)—as a separate company.
The stock has gained 618.2% (or 10.8% compounded annually) for us since we first recommended it in our April 1995 issue.
However, Dundee could have a hard time duplicating its past success. Investor interest in junior stocks is not as strong as it used to be. Dundee is also shifting into risky alternative investments, such as land and other privately held assets.
Dundee is now a sell.
; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 53.5 million; Market cap: $909.5 million; Price-to-sales ratio: 4.5; No dividends paid; TSINetwork Rating: Average; www.dundeecorp.com) owns businesses in the wealth management, real estate, natural resource and agriculture industries.
Dundee is more risky than most of the stocks we recommend. Many brokers avoid it due to its complex holding company structure, so it has little following among institutional investors. Irregular earnings from real estate and resource operations also add to its risk, and the lack of a dividend hurts its appeal.
However, like most holding companies, Dundee typically trades at a discount to the market value of the assets it held. Occasionally, it would unlock some of this value, as it did in 2011 when it sold its Dynamic mutual fund operations. In 2013, it spun off its commercial real estate subsidiary —DREAM Unlimited (Toronto symbol DRM)—as a separate company.
The stock has gained 618.2% (or 10.8% compounded annually) for us since we first recommended it in our April 1995 issue.
However, Dundee could have a hard time duplicating its past success. Investor interest in junior stocks is not as strong as it used to be. Dundee is also shifting into risky alternative investments, such as land and other privately held assets.
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