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3 top stock picks from Avenue Investment's Bill Harris

Bill Harris is a partner and portfolio manager at Avenue Investment Management. His focus is on resource stocks.



Top Picks:



Yamana Gold

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The shares trade at close to net asset value and production will grow 50 per cent over the next 3 years. The company is doing a good job of controlling costs.



Canadian Natural Resources

The stock is now trading at a compelling valuation based on 4.5 times next year's cash flow. Western Canadian pipeline constrains should be fixable over the next two years.



Keyera Corp

The stock yields 5 per cent and we expect the company can grow organically at 5 per cent per year. This is a very stable business if you look at it over several quarters.



Past Picks:

June 9, 2011

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Longview Oil

Then: $11.50

Now: $8.67

Total return: -20.38%



HudBay Minerals

Then: $14.05

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Now: $9.46

Total return: -31.52%



Yamana Gold

Then: $11.60

Now: $13.84

Total return: +20.88%



Total Return Average: -10.34%



MARKET OUTLOOK

Low interest rates continue to distort investor behavior. Avenue's strategy continues to be finding and investing in companies with stable earnings and predictable growth.



Compiled by Franklin Cameron/BNN Market Call Tonight

See the full BNN interview here

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Also see:

3 top stock picks from Horizons' Brooke Thackray

3 top preferred share picks from Manulife's Randy LeClair

3 top stock picks from money manager Greg Newman

3 top stock picks from money manager Ron Meisels

3 top stock picks from Toron Capital's David Driscoll

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