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Mining & Metals45d ago

PM Carney Says Canada and Alberta to a Carbon Market With Binding Annual Benchmarks, Canada to Issue 75-Million Tonnes of Carbon Contracts to Support Major Carbon Capture,, Clean Energy "

$CXY$USO

Mining & Metals45d ago

PM Carney Says Agreement is "Building Trust of Investors That Alberta and Canada Are Reliable and Attractive Destinations Where Opportunities ar Plentiful"

$CXY$USO

Mining & Metals45d ago

Update: -- Smith Says Agreement Will See the Oil Sands Alliance Commit to a Carbon-Capture Project and Will Support Construction of a Bitumen Pipeline to the West Coast

$CXY$USO

Mining & Metals45d ago

Prime Minister Mark Carney and Alberta Premier Danielle Smith Agree to Boost Alberta's Industrial Carbon Emissions Pricing to $130 per Tonne by 2040 From a Current $95.00

$CXY$USO

Mining & Metals45d ago

CIBC Raises Calian Group's Price Target to C$90.00 From C$76.00

CIBC Capital Markets retained its outperformer rating on the shares of Calian Group (CGY.TO) and raised its price target to C$90.00 from C$76.00 after the company reported its fiscal second-quarter results."Calian was up ~20% today following an FQ2 beat, with revenue 6% above the Street and adj. EBITDA 26% above," said CIBC in the May 14 note.CIBC raised its full-year estimates to reflect the increased 2026 guidance, though it expects a portion of the FQ2 strength was pulled forward from H2.CIBC now expects 13% F2026 revenue growth (vs. 10% prior) and 19% adj. EBITDA growth (16% prior).With FQ2 bookings up 29% Y/Y and organic growth accelerating to 12% from 6% in FQ1, CIBC continues to see Calian as "well positioned" to benefit from defense-spending tailwinds.Canada's focus on defense spending continued to be a tailwind in the quarter, with the government focused on hitting its 2% of GDP target before its March 31 fiscal year end, noted CIBC."Additionally, Calian is seeing good growth in Europe and is investing further for growth," noted CIBC. "Calian is focused on leveraging long-term customer relationships and bidding on larger opportunities as a prime vendor to drive growth."CIBC expects the FQ2 beat was helped by better-than-expected growth in IT & Cyber in what is a "seasonally strong quarter", as well as defence spending ahead of the government's fiscal year end. CIBC expects some pull forward from H2 contributed to the beat, but view the raised full-year guide as a net positive.CIBC is forecasting slower adj. EBITDA growth in H2 vs. a strong H1 as Calian ramps up investments in Europe to continue to capitalize on defence spending tailwinds in the region.CIBC noted, Calian's capital allocation priority remains M&A, with a robust pipeline and multiple discussions underway. It expects Calian to focus on adding capabilities and expanding in Europe.Calian paid out dividends equal to 17% of its operating FCF in H1, below its 20%-25% target, and management noted it will review its dividend level, said CIBC and added that the company will also now execute on share repurchases opportunistically after pausing share repurchases in FQ2."We see Calian as attractively valued at 9x FY2 EBITDA vs. Aerospace & Defence peers at 13x," added CIBC. "We retain our Outperformer rating and raise our price target to $90 (prior $76) as we increase our target multiple on the Defence & Space business to 12x (prior 10x)."Price: $79.84, Change: $-2.40, Percent Change: -2.92%

$CGY.TO

Mining & Metals45d ago

Stifel Canada Raises Bird Construction Price Target to $64.00 on New Opportunities

Stifel Canada hiked its price target on the shares of Bird Construction (BDT.TO) by $9.00 to $64.00 and maintained its buy rating.Analyst Ian Gillies says Bird's 2027 is shaping up to be better than expected given the recent data center announcement with BCE (BCE.TO) and further developments for the Ring of Fire in northern Ontario.Gillies is now forecasting 20% organic growth in 2027E. Gillies also believes the company may exceed its2027E EBITDA margin target of 8.0%.The results of these changes is 2027 EBITDA estimate of 9.7% and EPS estimate rising to 20.4%.Price: $58.09, Change: $+7.00, Percent Change: +13.70%

$BDT.TO

Mining & Metals45d ago

Diagnamed Closed the Acquisition of the Colchester East Natural Hydrogen Project in Nova Scotia

Diagnamed (DMED.CN) on Friday said it closed its acquisition of the Colchester East Natural Hydrogen Project, consisting of 30 licenses totaling 2,104 claims located within the Cumberland Basin in Nova Scotia.The company acquired the property by paying $10,000 in cash, and issuing 10-million shares with a deemed price of $0.06..The two arm's length vendors of the property each received 5-million shares. The vendors were also granted a 2.0% gross revenue royalty on hydrogen, helium or any other mineral product sold from the property.The company may buy, at its sole option, 50% of the royalty at any time for $2 million, it added.Shares of the company were last seen down $0.005 at $0.065 on the Canadian Securities Exchange.Price: $0.07, Change: $-0.01, Percent Change: -7.14%

$DMED.CN

Mining & Metals45d ago

CIBC Confirms Outperformer Rating on Quarterhill and Raises Its Price Target to C$2.50 on Q1 Results

CIBC Capital Markets maintained its outperformer rating on the shares of Quarterhill (QTRH.TO) and raised its price target to C$2.50 from C$2.00 after the company reported its first quarter financial results on Thursday."Into 2026, the setup is straightforward to a year that is inflecting: a ~$428.8MM backlog (+6% Q/Q) provides revenue coverage, the ~15% restructuring completed in 2025 (~100 roles) should lift margins, and a ~$2B bid pipeline can rebuild backlog/improve mix-with tighter bid discipline targeting cash-flow neutrality through implementation," said analyst Todd Coupland. "We raise our price target to C$2.50 (prior C$2.00) based on 10x 2027E EBITDA, earn-outs, and net cash."The bank believes the company will continue to re-rate as the backlog converts, restructuring benefits flow through, and margins trend above about 10%. For 2026E, CIBC forecast about 9.9% revenue growth and adjusted EBITDA margins moving to about 6% or higher.(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: $1.76, Change: $+0.02, Percent Change: +1.15%

$QTRH.TO

Mining & Metals45d ago

CIBC Lowers Canadian Tire's Price Target to C$190.00 From C$193.00

CIBC Capital Markets maintained its neutral rating on the shares of Canadian Tire (CTC-A.TO) and lowered its price target to C$190.00 from C$193.00 after the company reported its first-quarter results.Q1 results reflected "noisy comparisons and a persistently value-seeking consumer," said CIBC.CIBC is "increasingly cautious" on the consumer as 2026 evolves and has reduced its forecasts modestly.Q1 same-store sales (SSS) growth was below expectations across all banners, with unfavorable weather dynamics, particularly lapping a tailwind in 2025, said CIBC."Q2 is clearly also off to a slow start, but with roughly two-thirds of Q2 sales still to come, the die is not cast," said CIBC. "Management also added that in markets with more normal spring weather-only BC, sadly-sales growth is positive. Even still, we have heard from multiple consumer companies in the last two weeks-the Canadian consumer took a turn to be (even more) cautious in April, and we believe this will impact virtually all Canadian retailers."CIBC also noted that dealer inventory levels are likely a modest headwind. At end of Q1, dealer inventories were up 5% vs. last year, further noted CIBC and added that management noted that much of this was in winter seasonal categories and this will likely present a headwind to shipments (vs. sales) in H2."Dealers were also better stocked for spring/summer, so unless sales accelerate soon this could present risk to re-stocking order flow in Q2," said CIBC. "Net, we expect revenue growth will lag sales growth for the balance of 2026, which presents a headwind to earnings."Q1 margins showed good stability with multiple forces, including price investments at CTR, higher IT spend, favorable banner mix, and the flow-through of prior restructuring and cost-cutting work, stated CIBC."Higher energy costs have begun to work their way into the supply chain; they will take some time to emerge but will clearly be an incremental headwind to margins in H2," said CIBC. "Depending on how consumer demand evolves, we could see this as increasing risk to growth as the year develops.""Despite the headwind of a catch-up on opex spending" in 2025, CIBC believes CTFS has performed well and delivered healthy results again in Q1.Overall, CIBC views this as a well-run business with strong controls over financing and credit risk. However, CIBC noted that, the uncertainty on consumer credit is rising, with a weaker trajectory in Canadian employment as the number one risk factor. CIBC has made small adjustments to its forecasts, but noted that this would be an area of additional downside if conditions materially deteriorate from here."Though CTC is navigating the environment well and has developed strong defences to macro and competitive pressures, we believe it will be difficult to generate meaningful growth until the demand environment improves," added CIBC. "Our price target moves to $190 (with $3 from a higher REIT target) and our rating stays at Neutral."Price: $170.39, Change: $-4.56, Percent Change: -2.61%

$CTC-A.TO

Mining & Metals45d ago

TSX Tumbles More Than 500 Points at Midday as Materials Weigh

The Toronto Stock Market tumbled more than 500 points at midday, with materials (-6.2%) the outsized decliner, weighed down by lower gold prices.Energy, up 1.3% is the best performer, boosted by rising oil prices as the Strait of Hormuz remains closed.In Canada, manufacturing sales hit their highest level since January 2025, rising 3.0% to $73.6 billion in March, StatsCan reported today. Sales rose in nine of the 21 subsectors, led by the petroleum and coal product (+22.7%) and transportation equipment (+6.0%) subsectors. Manufacturing sales rose in eight provinces in March with Ontario and Alberta posting the largest increases.Canadian housing starts came in at 279.3k annualized units in April, marking a 17% month-on-month increase from March's level.TD said April's starts bounce-back was larger than expected and suggests some upside risk to the bank's view on residential investment's contribution to GDP to begin in the second quarter. However, recent easing in building permits signals some near-term cooling for starts, it added."Despite April's uptick, housing starts are down so far this year compared to the end of 2025, on a six-month moving average basis. We think this trend will continue for the remainder of this year amid weak population growth, elevated unsold inventories, and past weakness in pre-sales in key markets. Activity next year could see some support from recent government actions to cut taxes on new homes," TD said.

S&P/TSX CompositeS&P/TSX Composite

Mining & Metals45d ago

Atlas Salt to Raise $1.25 Million Via a Flow-Through Share Financing

Atlas Salt (SALT.V) on Friday said it will raise up to $1.25 million in a private placement of flow-through shares.The company said it will place 961,539 of the tax-advantaged shares priced at at $1.30 each.Proceeds raised from the sale of the FT shares will be used to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" to advance exploration on the nepheline discovery at its Black Bay Property in Southern Labrador.Closing of the offering is expected to occur on or about May 20."Since the initial discovery of Nepheline Syenite at our Black Bay property, Atlas Salt has been eager to follow up on the early evaluation of this occurrence," said Chief Executive Nolan Peterson. "Shareholders should view this flow-through offering as a relatively low-cost opportunity to uncover value and subsequently potentially monetize a non-core asset."Shares of the company were last seen down $0.02 to $1.16 on the TSX Venture Exchange.Price: $1.17, Change: $-0.01, Percent Change: -0.85%

$SALT.V

Mining & Metals45d ago

Big Rock Brewery's First-Quarter Loss Widens

Big Rock Brewery's (BR.TO) first-quarter loss widened even as revenue stayed constant.The company's loss rose to $1.8 million, or $0.07 per share, compared to a loss of $49,000, or nil, in the prior-year period.Revenue edged up to $10.11 million, from $10.06 million. Sales volumes fell by 15% year-over-year, due to lower co-packing sales volumes which were down 23%, the company said."Big Rock experienced seasonally slow activity this quarter, consistent with industry trends and with the cyclical nature of this industry," said chief executive David Kinder.The company, which is launching new products in the spring and summer, is already seeing early signs of stabilization in wholesale volumes, Kinder added.Big Rock shares were last seen unchanged at $0.65 on the Toronto Stock Exchange.

$BR.TO

Mining & Metals45d ago

National Bank of Canada Lowers Lithium Americas' Price Target to C$7.25 from C$7.50

National Bank of Canada on Thursday reiterated its sector-perform rating on the shares of Lithium Americas (LAC.TO, LAC) and lowered its price target to C$7.25 from C$7.50 following the company's first-quarter results.The bank updated its model for Lithium Americas following the release of the results to reflect the capital spent to date and an increase of $110 million to reflect potential inflationary pressures.Lithium Americas ended the first quarter with cash and restricted cash of US$1.21 billion, slightly below National Bank's estimate of US$1.25 billion, driven mostly by higher capex spend of US$299 million versus the bank's estimate of US$277 million.The company reiterated 2026 capex guidance of US$1.3 billion to US$1.6 billion. Phase one of the Thacker Pass project in Nevada remains on track for mechanical completion in late 2027 and a production ramp-up in 2028.Price: $6.90, Change: $-0.14, Percent Change: -1.99%

$LAC$LAC.TO

Mining & Metals45d ago

CIBC Ups Superior Plus' Price Target to C$9.50 from C$8

CIBC Capital Markets on Thursday maintained its outperformer rating on the shares of Superior Plus (SPB.TO) while raising its price target to C$9.50 from C$8.00 following the company's first-quarter results..Superior's first-quarter results may mark an inflection point where the narrative changes back to a stronger growth outlook based on data center-related compressed natural gas demand, CIBC said.Superior agreed to provide 135 megawatt of power generation for a hyperscale project, with an in-service date of mid-2027. The company expects to recognize $350 million from overall data-center business over 2.5 years from secured agreements, and is evaluating several other opportunities."Given the rapidly evolving data centre market and its need for high reliability, we expect more opportunities to emerge," CIBC said. "While we are not speculating as to the ultimate size of new opportunities, we are increasing our valuation multiple modestly to reflect renewed growth potential."Price: $7.61, Change: $-0.18, Percent Change: -2.31%

$SPB.TO

Mining & Metals45d ago

CIBC Confirms Outperformer Rating on Quebecor and Raises Target to $67

CIBC Capital Markets maintained its outperformer rating on the shares of Quebecor (QBR-B.TO) and raised its price target to C$67.00 from C$66.00 after the company reported its first-quarter financial results on Thursday.The bank noted that Quebecor's combination of "solid" wireless ARPU growth and net added market share continued to drive above-market wireless service revenue growth in the quarter."With only ~12% wireless subscriber market share, we expect profitable growth to continue," said analyst Stephanie Price. "Given its solid wireless growth and market share gains, we see a premium as warranted and compare to TMUS in the U.S., which has averaged a 2.4x premium to U.S. peers in recent years given its superior growth."CIBC increased buyback assumptions for 2026 given the expanded NCIB and slightly increased internet and wireless service revenue growth given strong Q1 results, it said.(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: $64.39, Change: $+2.32, Percent Change: +3.74%

$QBR-B.TO

Mining & Metals45d ago

Canadian Banks Still Priced For Positive EPS Surprises, National Bank Says in a Q2 Preview

Bank stocks are up 13% so far this year, outperforming the S&P/TSX by 550 basis points, notes National Bank in its second-quarter earnings preview of the sector.Analyst Gabriel Dechaine writes that since the end of the first-quarter reporting season, Canadian banks have outperformed the market by 800 bps."Betting against the banks has been unwise, with them consistently beating expectations over the past two years," he warns, adding that, trading at 14x on forward EPS, the group is priced for positive EPS surprises or revisions. Barring a margin or credit surprise, the onus falls on the Capital Markets to deliver this outcome, which isn't impossible considering several favorable market conditions.Dechaine's top picks are Royal Bank of Canada (RY.TO) and Toronto-Dominion Bank (TD.TO).The U.S. loan growth factor would also be supportive of BMO (BMO.TO), considering the importance of its U.S. P&C segment's top-line expansion towards achieving the 12% ROE mark sometime in 2027, Dechaine adds.Price: $251.72, Change: $-0.71, Percent Change: -0.28%

$BMO.TO$BNS.TO$CM.TO$NA.TO$RY.TO$TD.TO

Mining & Metals45d ago

National Bank of Canada Lifts Northland Power's Price Target to C$28 from C$27

National Bank of Canada on Thursday increased Northland Power (NPI.TO)'s price target to C$28 from $27 with an outperform rating.The company reported an adjusted EBITDA of C$427 million in the first quarter, below the bank's forecast of $454 million but in line with the consensus forecast of $424 million.Northland's total renewable generation was 2,316 gigawatt-hour (GWh), in line with the bank's 2,290 GWh estimate.Northland reiterated its 2026 adjusted EBITDA guidance range of $1.45 billion to $1.65 billion and free cash flow of $1.05-$1.25 per share.The company traded at $22.77 per share at last look Friday on the Toronto Stock Exchange.Price: $22.73, Change: $+0.10, Percent Change: +0.44%

$NPI.TO

Mining & Metals45d ago

Nevada Organic Phosphate Increases Unit Offering to $4.75 Million

Nevada Organic Phosphate (NOP.CN) increased its previously announced non-brokered private placement for proceeds of up to $4.8 million from $2 million, through the issuance of up to 26.4-million units at $0.18 apiece, it said Friday.The company intends to close the offering on May 22. Each unit will consist of one common share and one-half of one share purchase warrant, with each warrant entitling the holder to buy a share for $0.30 for a three-year period following the date of issuance.Proceeds are expected to be used for a phase two drill program at its Murdock property and for general working capital needs.Shares of the company were last seen unchanged at $0.195 on the Canadian Securities Exchange.

$NOP.CN

Mining & Metals45d ago

Vital Infrastructure Property Trust Announces May 2026 Distribution

Vital Infrastructure Property Trust's (VITL-UN.TO) trustees declared a distribution of $0.03 per unit for the month of May 2026, unchanged from the prior month, it said on Friday.The distribution will be payable on June 15, 2026, to unitholders of record as at May 29, 2026.Price: $5.31, Change: $-0.10, Percent Change: -1.76%

$VITL-UN.TO

Mining & Metals45d ago

Bird Construction Re-Upgraded to Outperform, Price Target Raised $5, on BCE's Data Centre Opportunity

BMO has re-upgraded Bird Construction (BDT.TO) to outperform, after downgrading the company to market perform earlier this week "on the back of its strong run and multiple lift".The catalyst for the upgrade this time was the May 14 announcement that BCE (BCE.TO) had picked Bird as construction partner for Bell AI Fabric's Sherwood location, analyst John Gibson writes, lifting his price target for Bird shares to $60.00.The BCE announcement "provides an extra layer of growth moving forward" for Bird, he adds."Our updated numbers continue to incorporate mid-teens revenue growth in 2026, followed by a near 25% increase in 2027 (now at the guidance midpoint from the low end prior)."(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: $55.97, Change: $+4.88, Percent Change: +9.55%

$BCE.TO$BDT.TO

Showing 1961-1980 of 4296

Mining & Metals45d ago

CIBC Lowers Canadian Tire's Price Target to C$190.00 From C$193.00

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