Posted at 7:00 a.m.
The largest shareholder of mdf commerce has just increased its investment in the operator of e-commerce platforms from Longueuil.
Long Path Partners informed authorities mid-week that its stake in mdf now stands at 11.1%, compared to 10.5% at the beginning of May.
Long Path Partners became mdf’s largest shareholder last spring and took advantage of the recent stock crash to increase its investment.
mdf shares continued to slide this week to hit a low of $1.72 in Toronto on Friday. At the current price, the market value of the company is less than 80 million.
Earlier this week, analyst Nick Corcoran of Acumen Capital withdrew his buy suggestion on mdf, citing “short-term business model risks”. He believes it is best to remain on the sidelines until managers have demonstrated that “profitable growth” can be generated.
Richelieu Hardware again unanimous on Bay Street. With TD’s decision on Friday to recommend the purchase of the Montreal hardware supplier’s stock, there are only buy suggestions for the stock. TD’s decision was taken the day after the publication of quarterly results that exceeded expectations. Analyst Annett Meaghen says he appreciates Richelieu’s leadership position and its track record. “In a difficult macro context, these attributes position Richelieu to continue to gain market share. »
Velan held its annual meeting of shareholders virtually on Thursday and presented its financial performance at the start of the year. Portfolio manager Stephen Takacsy of Lester Management still believes there will be a transaction to “create shareholder value”. But first, he says, the Montreal-based industrial valve maker must “aggressively” buy back its shares, which are “grossly undervalued.”
Scotia on Thursday withdrew its proposed purchase of the securities of the NC and PC. Analyst Konark Gupta says slashing valuations to reflect a possible downturn next year similar to 2015-16 and 2020, but not as severe as the 2009 recession. a haven in the past, he notes that the stock is already performing better than the market. “Investors may continue to hide in the rail sector until expectations drop across all sub-sectors. »
National Bank Financial sees a significant discrepancy between the current stock market valuation ofAir Canada and its business prospects. In a note published Wednesday, analyst Cameron Doerksen points out that the Montreal airline’s market value is only about 15% higher than in July 2020, when planes were essentially grounded and there there was no way to anticipate a resumption of air travel in the foreseeable future.
Given the recent stock market performance of Boralex, TD on Tuesday withdrew the name of the Quebec producer of renewable energy from the list of its best investment ideas (Action List Buy). Analyst Sean Steuart nevertheless still suggests buying the stock.
The Quebec titles of Dollarama, Resolved and Bellus Health hit a 52-week high on the Toronto Stock Exchange this week.
In contrast, those of ADF Group, Bomber, Lassonde, Senvest, Theratechnologies, Guru, mdf trade, Air Canada, Transat, Lion, Dorel and Nuvei all hit a new 52-week low this week.