Every Sunday, we shine the spotlight on elements of financial and stock market news that may be useful to investors, but which might have gone under the radar.
Posted at 1:32 a.m.
Updated at 7:00 a.m.
A retired US army general who became a director at CAE bought nearly $140,000 worth of shares in the Montreal company specializing in flight simulators and pilot training at the start of the week.
Four-star general David Perkins purchased a batch of 5,450 shares on Monday. This is the first time he has purchased shares of CAE on the open market since joining the board four years ago.
The Chief Financial Officer of Bomber sold nearly $800,000 worth of shares in the Montreal business jet manufacturer at the start of the week. Bart Demovsky sold a block of 4,500 shares on Monday and a lot of 4,000 shares on Tuesday.
The company Montrealer Dollarama announced mid-week the entry into Mexico of the Latin American retailer Dollarcity in which it holds a majority stake. While BMO analyst Tamy Chen says she senses that some Dollarama shareholders view expansion into new markets with unease, her colleague Mark Petrie of CIBC maintains that Mexico holds significant potential. given both the size of the Mexican market and the absence of a comparable concept in that country. Martin Landry, from the Stifel/GMP firm, emphasizes that Dollarcity has the potential to become more important than Dollarama.
The Montreal supplier of organic energy drinks Guru suffered the wrath of investors Thursday and Friday after disclosing disappointing results. Revenue growth in recent years has been slower than expected, as the company faced difficulties expanding into the convenience store network outside of Quebec, points out analyst Martin Landry at Stifel/GMP. As a result, he says, market share gains seem less likely than previously thought. The situation leads this expert to revise his calculations. It smashes its target of $3.50 over a 12-month horizon and brings it down to $2.75. He nevertheless maintains his purchase suggestion on the stock.
Investors appeared encouraged by the three-year strategic plan unveiled Thursday by AtkinsRealis. The stock of the former SNC-Lavalin reached its highest level on the stock market in 6 years on Friday. Taking into account the financial objectives presented, analyst Benoit Poirier, at Desjardins, believes that the stock can reach $113 by 2027 in an optimistic scenario. This expert emphasizes that the margin expansion objective is higher than his forecasts, which positions AtkinsRéalis in line with the best in the sector at this level.
The largest shareholder of Bitfarms continued to massively buy shares of the company this week after the operator of several mining farms in Quebec revealed on Monday that it had acquired a toxic jelly. Also called a poison pill, this strategy aims to discourage an unwanted takeover attempt by creating a risk of dilution. The Nevada bitcoin miner Riot Platforms wants to acquire Bitfarms and revealed Thursday that it now holds a 14% stake in the Brossard miner. This participation was 12% a week earlier. If Riot were to increase its stake to 15%, all other Bitfarms shareholders would have the right to purchase additional shares at a significant discount to the market price.
Shows that everything can be relative, a text published Friday on the platforms of The Press quoting an economist saying that American rates will remain higher for several years caused a reader to react. Claude Paquet, from Montreal, says by email that it makes him smile. “Having had interest rates around 5% 30 years ago, we would have been in paradise,” he emphasizes.
“Mortgages at 20% as well as mortgages at 2% were extreme anomalies. When the “experts” positively defend rates of 4% to 5%, perhaps the population and potential new buyers or investors will come back positive on these rates. »
The New York Stock Exchange and the NASDAQ will be closed on Wednesday to mark the holiday Juneteenth (contraction of June and the number 19 in English) established during the pandemic to mark the end of slavery.
Quebec titles of Dorel, Stella-Jones, AtkinsRealis, Gildan, Héroux-Devtek, Senvest And ADF Group all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Waterfalls, Deckchair, Laurentian Bank And MolsonCoors fell this week to a 52-week low.
