1.0 Exit Case: Badger Infrastructure Solutions Ltd. 

Overview:

Badger Infrastructure Solutions Ltd. (TSX: BDGI) is North America's provider of non-destructive excavating services. Its key technology is the Badger Hydrovac, which is used primarily for safe excavation around critical infrastructure and in congested underground conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. The company manufactures and designs its truck-mounted hydrovac units, giving an opportunity to incorporate feedback from its hydrovac operators into its existing and future design and manufacturing processes.

BDGI has been a part of the ‘Value Portfolio’ since 23^rd July 2024, however, considering the recent rally in share price, and ~11.94% upside from the entry price, an ‘Exit’ is recommended from the stock at the price of CAD 43.70, (as on 12 May 2025).

1.1 Support and Resistance Summary as provided in our last published report dated 23 July 2024.

1.2 Badger Infrastructure Solutions Ltd. (TSX: BDGI) 

2.0 New Entry Case: Veren Inc. (TSX: VRN)

Overview:  

Veren Inc. (TSX: VRN) is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken.

Technical Analysis: On the daily chart, VRN prices are trading on the higher note. The 14-period Relative Strength Index (RSI) stands at approximately 59.23, reflecting a positive buying momentum. The key support for stock is at CAD 7.5, while the critical resistance level is at CAD 10.00.

Considering the above mentioned factors, technical analysis, support & resistance levels, an ‘Entry’ is recommended in the ‘Value Portfolio’ at the closing market price of CAD 8.80, as on (as on 12 May 2025). 

Veren Inc. (TSX: VRN) has been identified as the new entry to our Value Portfolio.

2.1 Support and Resistance Summary (as on 12 May 2025)

2.2 Veren Inc. (TSX: VRN)

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of (12 May 2025). The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.