Laurentian Bank is unanimous on Bay Street: the 11 analysts who follow the stock now agree that you should not buy the financial institution’s stock.
The last analyst who still offered the stock to his clients withdrew his purchase suggestion on Friday. The decision by TD’s Marcel Mclean reflects the “weak” outlook for loan and margin growth, and the absence of a dividend increase in the near term.
It also highlights execution risk and uncertainty about the path forward as management develops a transformation plan. “While we are in uncharted territory as we have never seen a Canadian bank trade so low relative to book value for an extended period of time, the lack of a catalyst for the stock in the near term warrants [son] opinion. » He says, however, that he does not believe that the action will fall to a much lower level.
The co-founder and executive chairman of the board of directors of Tecsys sold nearly $3 million worth of shares of the Montreal-based supply chain management software provider this week. Dave Brereton sold 90,000 shares on Tuesday. He also sold a block of 30,000 shares on Tuesday by donation to an unspecified beneficiary.
An administrator of CAE has just purchased $200,000 worth of shares in the Montreal company specializing in airline pilot training. François Olivier purchased a block of 7,500 shares on November 30. He has been a board member for six years, and this is the first time he has purchased CAE shares on the open market.
The Montreal producer of graphene NanoXplore gained a new admirer earlier this week and continues to be a hit on Bay Street. Analyst James McGarragle of RBC initiated his coverage on Monday by recommending the purchase of NanoXplore, whose subsidiary VoltaXplore makes batteries for electric vehicles and grid storage. This expert says he appreciates the trend for graphene demand in the long term. There are now eight analysts to officially follow NanoXplore. They all suggest buying.
An administrator at Fiera Capital has just purchased nearly $50,000 worth of shares from the Montreal asset manager. On November 30, Guy Masson purchased a block of 10,000 shares at a unit price of $4.88. He has been a director at Fiera for two years. This is the first time he has purchased company stock on the open market.
RBC added the name of the Montreal provider of technological solutions for merchants on Tuesday Lightspeed to its list of the best investment ideas among small-cap growth stocks. Strategist Lori Calvasina believes that US small-cap stocks are “oversold” and that it is a good time to increase exposure to some of these stocks before the start of 2024. Lightspeed is the only Quebec company on this list. ‘around thirty titles.
The chairman of the board of directors of 5N Plus has just purchased a little more than $125,000 worth of shares in the Montreal semiconductor producer. Luc Bertrand purchased between November 30 and December 4 a total of 38,000 shares. He has been a member of the council for 12 years.
A leader ofAir Canada has just purchased approximately $90,000 worth of shares in the Montreal air carrier. Vice President of Maintenance, Jon Turner purchased a total of 5,032 shares on November 24.
A manager at Metro has just sold nearly $122,000 worth of shares in the Montreal grocer. The vice-president responsible for human resources, Geneviève Bich, sold a block of 1,600 shares on November 24 at a unit price of $69.92.
A senior manager of Velan has just purchased shares of the Montreal manufacturer of industrial valves. Head of Innovation and Technology Duc Tran purchased a total of 11,141 shares at a unit price of $4.19 on November 10.
The big boss of NanoXplore has once again purchased shares of the Montreal graphene producer. After purchasing 21,100 shares during the first half of November, Soroush Nazarpour purchased 15,500 shares during the second portion of the month.
Quebec titles of Dollarama, ADF Group And OpSens hit another 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of the Laurentian Bank, Taiga, Walk Goodfood, GDI And Alithya all slipped this week to a 52-week low.