A Couche-Tard investment that has lost a lot of value over the past two years has seen its slide increase in recent days.
Fire & Flower lost nearly 70% of its remaining value this week after this Alberta cannabis retailer announced the hiring of an adviser to help it review its strategic options, including financing options.
Analyst Frederico Gomes, at ATB Capital Markets, sees a higher probability than Couche-Tard decides not to exercise warrants. This expert on Monday withdrew his buy recommendation on the action of Fire & Flower. Couche-Tard is by far the largest shareholder with a 36% equity stake.
To bring this investment back to its fair value, a loss of 34 million had been recorded last year by Couche-Tard.
BRP lost the support of TD on Friday, the day after the disclosure of the performance of the beginning of the exercise of the manufacturer of recreational vehicles of Valcourt. Analyst Brian Morrison withdraws his buy recommendation, wanting to be more cautious in the face of the strength of headwinds. “These macro headwinds may persist and potentially intensify, obscuring earnings visibility. I’m finding it increasingly difficult to identify near-term catalysts that can induce investors to take a more constructive stance. They are now 15 analysts out of 19 to suggest the purchase.
A senior leader of Taiga bought a block of shares in the Montreal manufacturer of 100% electric recreational vehicles in the middle of the week. Chief Financial Officer Éric Bussière bought 10,000 shares on Wednesday at a price of $1.20 per share. He has just doubled the number of Taiga shares he owns.
If the action of Transat appreciates on Monday during the first session of the week, it will have recorded increases during 10 consecutive sessions. The title is up nearly 25% for two weeks. The Montreal tour operator will present its financial performance for the months of February, March and April on Thursday.
Boralex gained a follower this week. Analyst Andrew Kuske, at Credit Suisse, recommends since Thursday the purchase of the action of the Quebec producer of renewable energy. “The increased growth potential in Quebec may be an underestimated aspect of the company’s evolution and its prospects for expansion,” he says. They are now 10 analysts out of 13 to suggest buying it.
A specialist in steel structures based in Terrebonne had a good week on the stock market. The action of ADF Group surged on Tuesday after the unveiling of orders in the United States, including a contract for a construction project in the Midwest. ADF will present its early-year results on Wednesday.
Logistec turns out to be the big Quebec winner for the month of May on the Toronto Stock Exchange. Shares in the Montreal-based marine and environmental services company rose 40% during the month. On May 19, the controlling shareholder informed the board of directors of its interest in selling its shares, which suggests a strategic transition with new shareholders.
ADF Group (+35%), Transat (+31%), Lassonde (+19%) and BMTC (+15%) also experienced a strong month of May. Among the losers, Nuvei (-23%), VAT (-22%), Gildan (-16%), Lion (-15%), good food
(-15%) and Fiera Capital (-14%) all had a difficult month.
An administrator at Heroux-Devtek has just bought nearly $100,000 worth of shares in the Longueuil landing gear manufacturer. Nathalie Bourque bought a total of 4720 shares between May 25 and May 29. She has been a board member since 2015.
Transat’s Quebec securities, H2O InnovationLogistec, ADF Group and CGI all reached a new 52-week high on the Toronto Stock Exchange this week. On the other hand, that of Fiera Capital has just touched another low of the last 52 weeks.