CN Rail: BMO Resumes Coverage With $155 Price Target
A number of analysts changed their recommendations and price targets on Canadian National Railway (TSX: CNR) over the last week after the company presented a strategic plan to improve operating income and operating ratio for 2022. Most notably, National Bank raised their 12-month price target to C$151 from C$144 and BMO Capital Markets relaunched coverage […]
Evergrande Remains Mum on $83.5B Bond Payment, China Steps in to Ensure Cash Flow is Used to Complete Housing Projects
Another day, another Evergrande debacle. Despite vaguely reassuring markets earlier this week that it had come to an agreement with creditors regarding a renminbi-denominated bond payment, offshore bondholders are still sitting in the dark. The other, more closely watched offshore bond payment sits to the tune of $83.5 million, and was also due Thursday at […]
American Firms’ Russian Investments 9 TIMES Higher Than Officially Reported
US firms with operations in Russia have been making a lot more investing in the country than what is officially being reported. According to a joint survey based on data from 160 companies over the past five years, the American Chamber of Commerce in Russia (AmCham) and Ernst & Young found that direct investments into […]
European Fintech Firm Takes Aim At Robinhood Via Commission Free Trading Stateside
On September 21, the European-based fintech firm Revolut announced plans to offer commission-free stock trading to U.S. clients. In so doing, the formidable private company, which has over 16 million customers across Europe, Japan, India, Australia, and Singapore, and was recently valued at US$33 billion, plans to compete directly with Robinhood Markets, Inc. (NASDAQ: HOOD). Indeed, […]
Asante Gold Signs US$5 Million Investment Into West African-Focused Roscan Gold
Asante Gold Corporation (CSE: ASE) announced on Thursday that it has entered into a binding term sheet earmarking a US$5.0 million “strategic investment” into West Africa-focused gold explorer, Roscan Gold Corporation. The move sets the stage for Asante Gold to grow its reach in the African gold exploration market. Under the term sheet, the firm […]
PVC Prices Soar to Record-High as Homebuilding Becomes Even More Expensive
It appears that homeowners and homebuilders just can’t get a break. Skyrocketing lumber prices were at the center of attention throughout most of the pandemic, and although they have abated from April’s record-highs, other key building materials— such as vinyl siding, doors, and windows— continue tot keep homeowners’ pocketbooks drained as PVC prices explode. PVC, […]
Medmen: Canaccord Raises Price Target, Rating After Q4 Performance
On September 23, Medmen Enterprises (CSE: MMEN) reported their fiscal fourth-quarter financial results. The company reported revenue of $42 million, up 18.5% quarter over quarter and 55.4% year over year. The company saw gross margins come in at 46.9%, up from 40.5% last quarter. After the results, Canaccord Genuity raised their 12-month price target from […]
Deep-South Sees Namibia High Court Order Ministry Of Mines To File Documents Supporting Refusal Of Haib Copper Licence
In the newest development in the highly contested renewal of its licence in Haib Copper, Deep-South Resources Inc. (TSXV: DSM) reported yesterday that the High Court of Namibia ordered the country’s mining ministry to file the documents supporting refusal to renew. The court order was handed down during the hearing held on September 16, 2021. […]
Lucid Group’s High Valuation Remains An Issue Despite Bullish Events
Lucid Group, Inc. (NASDAQ: LCID) stock has been a standout performer over the last few weeks, rising ~54% in a down and increasingly cautious stock market. The chief reasons for the strong performance appear to be a constructive September 16 U.S. Environmental Protection Agency (EPA) announcement regarding the driving range of its flagship Lucid Air model, […]
Bitcoin.org Suffers Outage After Being Hacked With Giveaway Scam
Bitcoin.org, an open-source project that looks to further support the advancement of bitcoin, was hacked early Thursday morning with a giveaway scam, causing the website to go dark after several users fell victim to the fraud. On Thursday morning, visitors to the Bitcoin.org site were met with a message advising them that the site is […]