A retired US army general who became a director at CAE purchased nearly $140,000 worth of shares in the Montreal company specializing in flight simulators and pilot training earlier this week.
Four-star general David Perkins purchased a batch of 5,450 shares on Monday. This is the first time he has purchased CAE shares on the open market since joining the board four years ago.
The chief financial officer of Bombardier sold nearly $800,000 worth of shares in the Montreal business jet manufacturer earlier this week. Bart Demovsky sold a block of 4,500 shares on Monday and a lot of 4,000 shares on Tuesday.
The Montreal company 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 seemed encouraged by the three-year strategic plan unveiled Thursday by AtkinsRéalis. 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.
Bitfarms’ largest shareholder continued to massively purchase 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. 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 be entitled to purchase additional shares at a significant discount to the market price.
As everything can be relative, a text published Friday on La Presse platforms quoting an economist saying that American rates will remain higher for several years made a reader 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.
“Both 20% and 2% mortgages were extreme anomalies. When the “experts” are positively advocating for 4% to 5% rates, perhaps the population and potential new buyers or investors will come back positive about these rates.”
The New York Stock Exchange and the NASDAQ will be closed on Wednesday to mark the Juneteenth holiday (contraction of June and the number 19 in English) introduced during the pandemic to mark the end of slavery.
Quebec stocks of Dorel, Stella-Jones, AtkinsRéalis, Gildan, Héroux-Devtek, Senvest and Groupe ADF all reached a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Cascades, Transat, Laurentian Bank and MolsonCoors fell this week to a 52-week low.
