Research
Vermilion Energy Target Eased To C$27 From $30, Keeps Outperform at National Bank, Notes "Consistent Well Performance Across Portfolio Underpins Momentum"
$VET.TO
$VET.TO
3 stories mentioning VET.TOUpdated 48d ago
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Mining & Metals
TSX up 360 Points With Miners, Financials Leading Gains
The Toronto Stock Exchange is up 360 points at midday with miners (+5.2%) and financials (+15%), the best performers.Energy and info tech, down 4.8% and 1.6%, respectively, are the worst performers.Energy stocks are down as oil prices sink on hopes that the U.S. and Iran may be nearing a deal to re-open the Strait of Hormuz, media reports say.In domestic news, the Ivey Purchasing Managers Index (PMI) data released Wednesday showed that Canadian economic activity grew in April at the fastest pace in seven months as employment and prices accelerated. The seasonally adjusted index rose to 57.7 last month from 49.7 in March, its highest level since September.In stocks, Vermilion Energy (VET.TO) slumped over 12% to a fresh 52-week low, after it reported a first-quarter earnings miss.
S&P/TSX CompositeS&P/TSX Composite$VET.TO
Mining & Metals
Vermilion Energy Swings to Net Loss in Q1
Vermilion Energy (VET.TO) swung to a net loss in the first quarter from the year-ago period, citing unrealized losses from significant increases in spot and forward oil and European gas prices due to geopolitical events, the company said on Wednesday.Net loss from continuing operations was C$145.5 million, or a loss of $0.95 per share, swinging from an income of $15.0 million, or $0.10 per share. The result missed the earnings per share consensus estimate of $0.07 as compiled by FactSet.Fund flows from operations were $232.3 million, or $1.49 per share, down from $256.0 million, or $1.65 per share.The company produced 125,618 barrels of oil equivalent per day, up from 103,115 boe/d.The company expects second-quarter production to average 123,000 to 125,000 boe/d, with full-year production trending to the top end of the guidance range of 118,000 to 122,000 boe/d.Vermilion declared a quarterly cash dividend of $0.135 per common share, payable on June 30 to shareholders of record on June 15.
$VET.TO
