Two directors at BCE have just purchased nearly $730,000 worth of shares in the Montreal telecommunications company.
Robert Dexter purchased a block of 11,000 shares on May 6 at a unit price of $45.87 while Louis Vachon purchased 5,000 shares on the same day at a price of $45.81.
Robert Dexter is a board member of ECB for 10 years. Louis Vachon has been a member of the council for 2 years. At the current price, BCE’s dividend yield is close to 9%.
An administrator of 5N Plus bought more than $100,000 worth of shares in the Montreal semiconductor producer this week. Jean-Marie Bourassa purchased a total of 20,000 shares during the Tuesday and Wednesday sessions. It paid swinging prices from $5.18 to $5.24. He bought nearly $300,000 worth of it in March. He has been a member of the board of directors for 17 years.
The title of the Quebec mining company AYA Gold & Silver is a strong candidate to be added to the main Toronto Stock Exchange index next month, according to BMO. S&P Dow Jones Indices’ decision on the quarterly rebalancing of the S&P/TSX index is expected on June 7. Being part of major stock indices is important for the associated prestige, visibility and recognition. It can also affect the demand for stocks since index funds adjust according to changes in order to properly reproduce the indices by holding the securities that compose them.
A senior manager of Savaria purchased shares of the Laval accessibility equipment manufacturer for $200,000 at the beginning of the week. The head of transformation, Jean-Philippe de Montigny, purchased 11,600 shares on Monday at a unit price of $17.24. In January, he purchased more than half a million dollars’ worth of Savaria stock.
The transition announced this week at Saputo was unexpected. Although it was rather well received, it nevertheless provoked reactions on Bay Street. Lino A. Saputo will hand over his position as President and CEO in August to Carl Colizza, currently President and Chief Operating Officer for North America. “The announcement may on the one hand reflect Lino Saputo’s view that the company is now on the road to recovery after going through a turbulent few years,” comments BMO analyst Tamy Chen. “However, some investors may question the timing of this announcement rather than at a later stage when the turnaround will produce positive financial results. »
A member of the management of Senvest Capital sold more than $260,000 worth of shares in the Montreal holding company earlier this week. Frank Daniel, secretary-treasurer, sold a block of 900 shares on Tuesday at a unit price of $290.02.
The biggest risk facing the Canadian banking sector right now is not rates, real estate or regulation, but rather the outlook for the Canadian economy, according to Scotia analyst Meny Grauman . “For several decades, the Canadian economy has defied skeptics and soared. With plummeting productivity, unsustainable tax policy, growing public sector employment and one of the most expensive real estate markets in the world, it is fair to ask whether the Canadian economic miracle is over. The answer to this question will help guide the value of bank shares for the coming years,” he underlines in a note published Friday.
A member of the board of directors of TFI purchased $400,000 worth of shares in the Montreal transportation company at the beginning of the week. Sébastien Martel purchased 2,110 shares on Tuesday at a unit price of $189.23. He has been a member of the council since last summer.
The Toronto Stock Exchange will remain closed on Monday to mark the Victoria Day public holiday in Canada (National Patriots Day in Quebec).
Quebec titles of Knight Therapeutics, 5N Plus, AYA Gold & Silver, ADF Group, Bomber And Dollarama all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of GDI, MolsonCoors, Yellow Pages And D-Box reached a 52-week low this week.