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Average Street target versus last close for $1B+ names. Not a forecast.
Your week on the TSX
This week, Nutrien Ltd (NTR.TO) led the TSX large-cap gainers with a notable increase of 9.78%, closing at $111.21. The company's strong Q2 earnings and dividend declaration contributed to its positive momentum, while Ivanhoe Energy Inc (IE.TO) faced the largest decline, dropping 16.79% amid recent announcements regarding its financing efforts.
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Biggest gainers this week
Symbol | Name | Last | Week |
Nutrien Ltd | $111.21 | +9.78% | |
Bausch Health Companies Inc | $9.32 | +6.64% | |
Thomson Reuters Corp | $153.97 | +6.11% | |
NFI Group Inc | $23.92 | +5.93% | |
Enerflex Ltd. | $30.46 | +5.69% |
Nutrien's Q2 results showed net earnings of $1.22 billion and adjusted EBITDA of $2.43 billion, which likely bolstered investor confidence. Additionally, the declaration of a quarterly dividend of US$0.55 per share further solidified its appeal to shareholders.
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Biggest decliners this week
Symbol | Name | Last | Week |
Ivanhoe Energy Inc | $13.58 | -16.79% | |
Avalon Advanced Materials Ltd | $8.77 | -16.00% | |
Taseko Mines Ltd | $11.61 | -13.62% | |
NGEx Minerals Ltd. | $25.55 | -12.59% | |
Ero Copper Corp | $48.66 | -11.80% |
Ivanhoe Energy's significant drop of 16.79% this week may reflect market concerns despite its recent announcement of a Preliminary Project Letter from the US EXIM Bank for potential $1.1 billion financing. This could indicate investor caution regarding the project's execution.
BHC.TO: Bausch Health Companies Inc (BHC.TO) gained 6.64% this week, closing at $9.32. The company continues to navigate its restructuring efforts, which may be positively influencing investor sentiment.
TRI.TO: Thomson Reuters Corp (TRI.TO) saw a 6.11% increase this week, closing at $153.97. The company's strong performance can be attributed to its ongoing expansion in digital services and recent strategic partnerships.
Looking ahead, watch for further developments from Nutrien as it continues to execute on its growth strategies, and monitor Ivanhoe Energy's progress regarding its financing initiatives.
These are larger Canadian companies ($1B+) where the average analyst target sits furthest above the last close. Targets are opinions, not forecasts.
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