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.
June was a particularly trying month for shareholders of Quebec driver assistance software provider LeddarTech.
Traded on the NASDAQ since December, the stock of LeddarTech fell by 63% during the month. Deckchair (-24 %), Guru (-17 %) et Lion (-16%) are three other Quebec companies that have had a difficult month on the stock market.
Among the Quebec winners for the month of June on the Toronto Stock Exchange, we would like to highlight: PyroGenèse (+21 %), Fair Capital (+12 %), Theratechnologies (+12 %), Lassonde (+12 %), Known (+11 %) et AtkinsRéalis (+11 %).
Quebec’s best performances for the first half of the year were achieved by Groupe ADF (+131 %), 5N Plus (+66 %), Bombardier (+65 %) et Héroux-Devtek (+64 %).
An administrator at Metro has just sold nearly $300,000 worth of shares in the Montreal grocer. Brian McManus sold a lot of 4,000 shares on June 21 at a unit price of $73.50. The transaction was carried out in his spouse’s investment account. The former CEO of Stella-Jones and D’Uni-Select has been a member of the Metro board of directors for three years.
The CN received a boost from National Bank Financial this week. Analyst Cameron Doerksen now recommends buying the title of the Montreal rail carrier. The valuation has become more attractive now that the stock is down 10% since its peak in March. However, he cautions that potential disruptions linked to union action by locomotive engineers and conductors could harm operations.
If the announcement of the upcoming change of CEO at Couche-Tard Food In a note released Thursday, TD analyst Michael Van Aelst reminded clients that Couche-Tard has the financial capacity to complete an acquisition in excess of $10 billion.
A member of the board of directors ofInnergex has just purchased nearly $115,000 worth of shares in the Quebec renewable energy producer. On June 20, Patrick Loulou purchased a block of 11,000 shares at a unit price of $10.25. He has been a director at Innergex since last month.
The largest shareholder of Bitfarms said on Monday that it had increased its stake to 14.9% and withdrawn its previously submitted purchase proposal. Riot Platforms said, however, that it maintains its commitment to pursuing a transaction with Bitfarms. The Nevada bitcoin miner also announced Monday that it had requested a special meeting of Bitfarms shareholders to try to reconstitute the board of directors.
A leader of Senvest Capital has just sold $3.3 million worth of shares in the Montreal asset manager. George Malikotsis, head of finance, sold a lot of 10,000 shares on June 17 at a price of $330.06 each.
The finance chief of the Groupe ADF has just purchased small blocks of shares of the Terrebonne steel structures manufacturer after the sale of a block of shares worth $3.3 million by the largest institutional shareholder. Jean-François Boursier purchased a total of 1,325 shares on June 21 and 25, while Marshall-Barwick sold a total of 193,400 shares on June 13 and 14. Marshall-Barwick’s participation has just slipped below the 10% mark. Marshall-Barwick is no longer required to disclose its transactions in the stock unless its stake increases to 10% or more.
A senior executive of Known bought just over $150,000 worth of shares in the Montreal dairy processor midweek. Richard Wallace, president and chief operating officer of the dairy division for Australia, bought 4,950 shares on Wednesday at a price of $30.48 each.
The Chief Financial Officer of Transcontinental has just purchased a little over $50,000 worth of shares in the Montreal printer specializing in flexible packaging. Donald LeCavalier purchased a block of 3,400 shares on June 20 at a unit price of $14.78.
Celebrations for two national holidays will cut investors’ week short. The Toronto Stock Exchange will be closed Monday for the Canada Day long weekend. The New York Stock Exchange and NASDAQ will be closed Thursday for Independence Day in the United States.
Quebec titles of Transcontinental, Known, 5N Plus, Héroux-Devtek, Senvest Capital et Stella-Jones all hit 52-week highs on the Toronto Stock Exchange this week.
On the other hand, those of Lion and of Deckchair fell this week to a 52-week low.
