The month of October ended on a negative note on Thursday on the stock markets, but the horror of Halloween Day did not erase the impressive gains made by several Quebec companies in the previous 30 days.
Posted at 1:28 a.m.
Updated at 8:00 a.m.
The Montreal manufacturer of industrial faucets Velan particularly stood out in October with a jump of 42%.
AtkinsRéalis (+23%), Fiera Capital (+19%) and Air Canada (+17%) are other Quebec stocks having had a strong month on the Toronto Stock Exchange.
Among the losers, Groupe Colabor (-16%), PyroGenèse (-15%), D-Box (-14%), Innergex (-13%), BRP (-11%) and Lion (-10%) all had a difficult month on the stock market.
Scotia is adopting caution with Bombardier as the Montreal business jet manufacturer will present its next quarterly results this week. Analyst Konark Gupta withdrew his buy recommendation on the “Bomber” (as the Anglos call it) stock on Thursday. Keeping in mind the fact that the stock has doubled in value since February, Konark Gupta says he has less conviction about achieving the objectives for the next financial year.
The Group TVA is particularly recognized for its desire to protect its market share. The Quebecor subsidiary discreetly revealed Thursday by publishing its most recent financial performance that TVA’s market share in Quebec has just slipped below the 40% mark. They stood at 43% three months ago and have been fluctuating between 40 and 43% for a long time. Quebecor will in turn publish its quarterly results on Thursday.
An administrator of the Canadiens National has just purchased a little more than $150,000 worth of shares in the Montreal rail carrier. David Freeman purchased a block of 1,000 shares on October 24. He has been a member of the CN board of directors for a little over two years.
A Quebec portfolio manager says he recently reduced his exposure to Montreal retailer Dollarama. “This stock experienced strong appreciation in 2024 and we believe that the potential for additional growth compared to the downside risk is now less favorable than at the start of the year,” explains Philippe Hynes, of the firm Tonus Capital, in the quarterly financial letter that he has just sent to his clients.
He also points out that the rise in stock market valuations has recently led to a predominance of sales over purchases in his investment strategy. “Given our higher than usual cash level, we are entering the fourth quarter with a more defensive approach which reflects our desire to mitigate risk. »
There’s an opportunity in Coveo’s depreciated stock valuation, according to TD analyst Daniel Kwan. In a note published Tuesday, he recommends to his clients to take the opportunity to buy the stock of the Quebec company specializing in artificial intelligence applied to electronic commerce before the publication of the financial results scheduled for the end of the day Monday. “The bar has been set quite low. Given that Coveo has exceeded expectations every quarter since its IPO [il y a trois ans] and its fundamentals are expected to strengthen in the second half of the fiscal year, there is a nice short-term buying opportunity. »
Two members of the TFI board of directors purchased a total of approximately $200,000 worth of shares in the Montreal trucking company at the beginning of the week. John Pratt bought a batch of 650 shares on Monday. The same day, Leslie Abi-Karam acquired a block of 372 shares. John Pratt has been a TFI director for two years, while Leslie Abi-Karam has been a TFI board member since 2018.
Quebec securities of Air Canada, Fiera Capital, National Bank, 5N Plus, Dollarama, Velan, Power Corporation and Gildan all reached a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Goodfellow, Quincaillerie Richelieu, Coveo and BRP hit their lowest level in the last 52 weeks this week.
