November was a good month for several Quebec companies on the Toronto Stock Exchange. Several titles of Quebec inc. appreciated by more than 20% during the month.
5N More is the big winner of the month in Toronto. The action of the Montreal producer of technological materials rose 27% in November. Coveo (+26%), Transat (+25%), Uni-Select (+23%), and Havision (+21%) also registered considerable increases. Savaria (+19%) and Bomber (+19%) also had an interesting month.
Among the losers, NanoXplore (-20%), Guru (-19%), Hexo (-17%), Lightspeed (-16%) and Taiga (-15%) were not popular with investors. DavidsTea fell 13% in November on the NASDAQ.
SNC Lavalin will be removed from the S&P/TSX 60 Index before markets open on December 13. The index manager made the announcement at the end of the day on Friday. Being ousted from an index can have an impact in the sense that it can cause investors to trade and adjust their positions. Index funds replicate indices by holding the securities that make them up.
Even though the negative research report published this week on Saputo by a New York short seller jostled the action of the Montreal dairy processor, the respected analyst Michael Van Aelst, of TD, maintains that he did not see anything worrying in the document. Above all, he specifies that he has learned nothing new about Saputo.
“Certain elements of the report were already reflected in the share price, i.e. they had already contributed to the decline of the stock between the months of May 2021 and May 2022.
An administrator of Cogeco Communications has just purchased $115,000 worth of shares in the Quebec cable company. Robin Bienenstock bought a block of 1580 shares on November 14. She has been a member of the board of directors of Cogeco Communications for two years.
The big boss ofOpSense, Louis Laflamme, bought on November 25 a block of 1000 shares of the Quebec company specializing in medical instrumentation. He paid a unit price of $2. OpSens’ stock slipped below $2 on Friday after news broke of a $10 million equity offering completed at a price of $1.90.
Some titles in the technology sector, such as that of the Montreal company Havision, for example, bounced back in the November home stretch for no apparent reason. Asked to offer his opinion, analyst Nick Corcoran, of the firm Acumen Capital Partners, maintains that the title of Haivision seems to have plunged in an exaggerated way this fall due to the negative ambient sentiment and has just risen as buyers try to unearth values among technology stocks.
A senior leader of Gildan has just sold nearly $600,000 in shares of the Montreal maker of socks and t-shirts. Benito Masi, a senior manufacturing executive at the company, on Nov. 23 sold a block of 15,000 shares.
The Quebec titles of Dollarama, Bomber, TFI, ADF Group, Stella Jones, 5N More, Subway, Uni-Select and CGI all hit a 52-week high on the Toronto Stock Exchange this week. In contrast, Theratechnologies and Bitfarms hit a new 52-week low this week.