The big Quebec winner for the month of March on the Toronto Stock Exchange is Nuvei.
The title of the Montreal provider of electronic payment solutions appreciated by 41% during the month. aya (+36%), 5N More (+30%), VAT (+27%) and SNC Lavalin (+18%) also did well in March.
Among the losers, Taiga (-39%), Hexo (-23%), Guru (-21%) and Lion (-18%) recorded the largest declines of the month in Toronto à Québec inc.
The participation of the largest institutional shareholder of Therapeutic Knight has just crossed over the 10% mark. George Armoyan’s purchase of $630,000 in shares of the Montreal pharmaceutical on March 23 forced a declaration to the authorities.
Since the acquisition of Shaw by Rogers will soon lead to the withdrawal of Shaw’s stock from the stock exchange and the TSX 60, a Quebec company is positioned to be added to the index comprising the 60 largest names on the Toronto Stock Exchange. Shaw’s “replacement” should logically be the largest stock in the most underweight sector of the TSX 60, according to Scotia analyst Jean-Michel Gauthier. The logical choice is therefore WSP. And if so, expect significant demand for shares in the Montreal engineering firm, since the decision would notably lead exchange-traded funds to rebalance positions.
The 30% refundable tax credit announced Tuesday in the federal budget in connection with investments in clean technologies is favorable to many companies. But analyst Rupert Merer, of National Bank Financial, believes that the Montreal producer of graphene NanoXplore is probably the biggest winner of this announcement within the group of companies forming its coverage universe. The tax credit could in particular support investment projects in the possible battery factory of the subsidiary VoltaXplore.
Lion And 5N More are two other Quebec companies followed by Rupert Merer that could also benefit from the tax credit for future investments aimed, for example, at improving production.
Coveo has a new admirer on Bay Street. Analyst Suthan Sukumar, from the firm Stifel/GMP, launched this week an official follow-up of the activities of the Quebec company specializing in artificial intelligence applied to e-commerce by recommending the title.
Although macro headwinds are weighing on near-term growth, he believes a large, underpenetrated market combined with growing awareness and interest in artificial intelligence will fuel strong demand. They are now 7 analysts out of 9 to propose the purchase of Coveo’s share.
One of the founders of Couche-Tard, Jacques D’Amours, sold $600,000 of shares in the Laval convenience store chain on March 23. This transaction was carried out for the benefit of his foundation.
Nine of the 12 analysts who officially follow the activities of Quebecor recommend the action of the company headed by Pierre Karl Péladeau, while Videotron is now authorized by Ottawa to acquire the wireless subsidiary of Shaw to expand its activities outside Quebec.
A member of the senior management of Dorel has just bought nearly $80,000 in shares of the Montreal manufacturer of furniture and children’s car seats. Senior Vice President of Sales and Marketing Jeffrey Segel bought a total of 20,500 shares during the March 22 and 24 sessions.
The Quebec titles of Quebecor, Food Couche-Tard, Bomber, SNC Lavalin, CGI And aya reached a new high of the past 52 on the Toronto Stock Exchange this week. On the other hand, the titles of Lion, OpSense, Fiera Capital, Therapeutic Knight And Taiga hit a 52-week low this week.
The Toronto Stock Exchange, the New York Stock Exchange and the NASDAQ will be closed on Friday for the start of the Easter holiday.