Laurentian Bank is unanimous on Bay Street: the 11 analysts who follow the stock now agree that the financial institution’s stock should not be bought.
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 near-term dividend increase.
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 in price relative to book value for an extended period of time, the lack of a catalyst for the stock in the near term warrants [his opinion. » He says, however, that he does not believe that the stock will fall to a much lower level.
The co-founder and executive chairman of the board of Tecsys sold nearly $3 million worth of shares in the Montreal-based supply chain management software provider this week. Dave Brereton sold 90,000 shares on Tuesday. He also donated a block of 30,000 shares on Tuesday to an unspecified beneficiary.
A CAE administrator 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.
Montreal graphene producer NanoXplore gained a new admirer at the start of the week and continues to be unanimously appreciated on Bay Street. Analyst James McGarragle of RBC initiated his coverage on Monday by recommending the purchase of the stock of NanoXplore, whose subsidiary VoltaXplore manufactures 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 in the Montreal asset manager. Guy Masson purchased a block of 10,000 shares on November 30 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 on Tuesday added the name of Montreal-based merchant technology solutions provider Lightspeed to its list of 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 a total of 38,000 shares between November 30 and December 4. He has been a board member for 12 years.
An Air Canada executive has just purchased approximately $90,000 worth of shares in the Montreal airline. 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 Velan executive has just purchased shares in 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 in 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 stocks from Dollarama, Groupe ADF and OpSens hit another 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Laurentian Bank, Taiga, Marché Goodfood, GDI and Alithya all slipped this week to a 52-week low.