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Research
Whitecap Resources Maintained at Buy at TPH Following Q1 Results; Price Target at C$16.00
Tudor, Pickering, Holt on Thursday maintained its buy rating on the shares of Whitecap Resources (WCP.TO) with a C$16.00 price target following the Western Canadian oil and gas producer's first-quarter results."Positive on Q1 results which, in our view, should support relative outperformance today. On key Q1 headline metrics, C$0.84 CFPS beat TPHe/Street C$0.74/C$0.74, driven by beats on production and to a lesser degree gas realizations; C$676MM capex was relative in-line with consensus, comparing to TPHe/Street C$643MM/C$664MM. For context on volumes, 391mboepd beat TPHe/Street 378/378 and guidance of 375-380, led primarily by liquids, which clocked in at 242mboepd (62% of the mix) vs. TPHe/Street 231/229, with all of the above attributed to (i) compressed cycle times driving quicker turn-in-line timing for new wells and (ii) outperformance of new wells across the portfolio ... On formal changes, FY'26 guidance was increased on production by +7.5mboped (~2% at the midpoints) to 378-382mboepd (prior 370-375; TPHe/Street 378/375) for unchanged capex of C$2.0-2.1B (TPHe/Street C$2.05B/C$2.08B); no changes to longer-term growth plans of 3-5%," analyst Jeoffrey Lambujon wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $15.92, Change: $-0.04, Percent Change: -0.25%
$WCP.TO
Mining & Metals
RBC Maintains Alamos Gold's Outperform Rating, US$63.00 Price Target, Following Q1 Results
RBC Capital Markets reaffirmed its outperform rating on the shares of Alamos Gold (AGI.TO, AGI) and its US$63.00 price target after the company reported first-quarter results on Wednesday.Alamos' adjusted earnings of US$0.55 per share in the first quarter missed RBC's projection of US$0.62 per share and the consensus estimate of US$0.58 per share, reflecting lower production/sales.The company noted it is monitoring the impact of inflationary pressures, but that it expects to manage these pressures with productivity improvements, RBC said.Price: $53.90, Change: $-2.03, Percent Change: -3.63%
$AGI$AGI.TO
Asia Markets
European Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading
European equities traded in the US as American depositary receipts rose late Thursday morning, gaining 2.20% to 1,818.51 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and lender ING Groep (ING), which advanced 5.3% and 4.9% respectively. They were followed by biopharmaceutical firm Grifols (GRFS) and consumer goods firm Unilever (UL), which rose 3.2% and 3.1% respectively.The decliners from continental Europe were led by internet advertising firm Criteo (CRTO) and telecommunications company Nokia (NOK), which fell 3.2% and 1.9% respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and utilities company National Grid (NGG), which rose 4.8% and 3.5% respectively. They were followed by Lloyds Banking Group (LYG) and telecommunications operator Vodafone Group (VOD), which were up 2.6% and 2.3% respectively.The decliners from the UK and Ireland were led by software firm Endava (DAVA) and Bicycle Therapeutics (BCYC), which lost 5.2% and 2.3% respectively. They were followed by biopharmaceutical companies Amarin (AMRN) and Mereo BioPharma Group (MREO), which fell 1.3% and 0.9% respectively.
$AMRN$BCYC$CRTO$CUK$DAVA$GRFS$ING$LYG$MREO$NGG$NOK$NVO$UL$VOD