Canada Falls Back Into $1.4 Billion Trade Deficit in May Amid Higher Imports
Canada’s trade balance jumped from a revised surplus of $462 million to a deficit of $1.4 billion in May, as merchandise exports declined 1.6% and imports rose 2.1%. Following a decline of 4.1% in April, total imports rose to $50.9 billion, with increases being noted across 7 of the 11 product sections. Imports of metal […]
Harborside Sees Beacon Securities Reiterate $4.75 Price Target
Harborside Inc (CSE: HBOR) this past week announced that they have completed their facility upgrades at their Salinas cultivation facility. The additional capacity increased their annual capacity by over 50% and now the facility is able to grow year-round. Harborside currently has two analysts who cover the company, with the firm having a weighted average […]
Lordstown Motors Plummets Amid Reports of DOJ Investigation
Shares of Lordstown Motors were sent plunging on Friday and even temporarily halted due to volatility, following news of a Department of Justice Investigation. According to the Wall Street Journal, which cited people familiar with the matter, the US DOJ has opened a probe into embattled EV maker Lordstown Motors, marking yet another blow to […]
Romeo Power: Investors Disappointed By 2021 Guidance, But Longer-Term Prospects Could Be Brighter
The stock of Romeo Power, Inc. (NYSE: RMO), a manufacturer of electric battery packs for heavy-duty trucks, has declined about 75% since early 2021, a sharper downturn than experienced by most electric vehicle (EV) stocks. At its current approximate US$800 million enterprise value, Romeo could represent a deep value play given the quality of contracts it […]
PI Financial Initiates Coverage On Gage Growth With C$7.50 Price Target
On Wednesday morning, PI Financial initiated coverage on Gage Growth Corp (CSE: GAGE) with a C$7.50 price target and buy rating. This is the third analyst to cover Gage, the others being Haywood Securities whom has a C$4.50 price target on the name, and another analyst with a C$6.50 price target. PI Financial’s price target […]
Larry Summers: Policy Decisions Have Put the US Economy on a ‘Problematic Course’
Despite the Fed’s repeated efforts to brush aside growing inflation concerns even as Americans across the country are seeing their pocketbooks erode with each passing CPI print, former Treasury Secretary Larry Summers concurs that the US economy, is indeed, headed towards a “problematic course” with its bottomless liquidity injections. The Harvard economist and former Treasury […]
Elemental Royalties: Key Gold Royalty Project Commences Production
On June 25, Elemental Royalties Corp. (TSXV: ELE), a gold-focused royalty company, announced that continuous ore processing has begun at Capricorn Metals Limited’s (ASX: CMM) Karlawinda Gold Project in Western Australia. Elemental Royalties holds a 2% Net Smelter Return (NSR) on the property, which is in the Pilbara gold mining region in Western Australia. NSR is […]
Antibe: Canaccord Raises Price Target After Q4 Results
On June 28th, Antibe Therapeutics (TSX: ATE) reported their fourth quarter and year-end financials. The company announced full-year revenue of $9.7 million, which came in flat year over year, with a larger than expected net loss of $26.3 million. The company ended the year with $72 million in cash. The company has seven analysts covering […]
Krispy Kreme Seeks To Raise US$500 Million In IPO
Krispy Kreme Inc. went public Thursday on the Nasdaq Global Select Market under the symbol “DNUT”. The company’s initial public offering is expected to close on July 6, 2021. The offering consists of 29,411,765 common shares at US$17.00 per share for potential total aggregate proceeds of US$500.0 million. Krispy Kreme also gave the underwriters a […]
Very Good Food Company Closes $20.7 Million Bought Deal Financing
The Very Good Food Company (TSXV: VERY) this morning announced the closing of a bought deal offering lead by Canaccord Genuity. The arrangement saw the company raise total gross proceeds of $20.7 million. Under the terms of the financing, the company sold a total of 5.6 million units of the company at a price of […]