Investors again showed that they react badly to surprises creating uncertainty.

Shares in Montreal-based Osisko Gold Royalties lost 10% of their value on Wednesday after the announcement of the “immediate” departure of President and CEO Sandeep Singh.

Looking at Sandeep Singh’s journey since taking office three years ago, analyst Carey MacRury of the firm Canaccord was surprised. “The news comes as a surprise given the company’s performance during his tenure and no reason was given for his departure. He considers the reaction of investors to be overblown due to the quality of Osisko Gold Royalties’ portfolio, its growth prospects and its valuation.

Of the 12 analysts who officially follow the stock, 11 still recommend buying it.

Cascades is no longer on RBC’s list of highly recommended Canadian small cap stocks. The firm made the announcement mid-week. This list is made up of about 20 securities of companies whose market capitalization is less than approximately $2 billion at the time of their addition to the list. The names of InterRent and Tamarack Valley Energy are also removed, while those of dentalcorp, Interfor, Minto Apartment and Obsidian Energy are added.

With the stock market surging, the VIX index falling to its lowest level since January 2020 and credit spreads rapidly tightening, the outlook looks pretty good and there is apparently nothing to worry about, strategists at Scotia with a bit of irony in a note published this week. Or should we start talking about complacency? they ask. The low volatility should be taken as an indication that investors are walking on eggshells. In other words: no negative news is in their opinion expected.

The big winner of the first week of July in Québec inc. on the Toronto Stock Exchange is 5N Plus. The title of the Montreal producer of technological materials has appreciated by 11% this week. Lion and Goodfellow are also starting the second half strong with 10% gains for the week.

A new round of quarterly results disclosure begins this week in the United States with the unveiling of the performance of the first major American banks for the second quarter of their fiscal year. JPMorgan, Wells Fargo and Citigroup will notably announce their figures by Friday.

The CEO of Alimentation Couche-Tard just made a donation worth just over half a million dollars to an unspecified recipient. Brian Hannasch donated a block of 7,826 shares on June 30.

Quebec stocks of Héroux-Devtek, Logistec, H2O Innovation, Transat, Air Canada, Dollarama, Stella-Jones and Groupe ADF all reached a 52-week high on the Toronto Stock Exchange this week.