ACB.TO - Aurora Cannabis Inc.
| Previous Close | 4.3800 |
| Open | 3.6300 |
| Bid | 3.5900 x 0 |
| Ask | 3.6100 x 0 |
| Day's Range | 3.5700 - 4.1900 |
| 52 Week Range | 3.5700 - 13.6700 |
| Volume | 27,188,977 |
| Avg. Volume | 5,801,114 |
| Market Cap | 3.645B |
| Beta (3Y Monthly) | 1.97 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.3660 |
| Earnings Date | Feb. 10, 2020 - Feb. 14, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 5.69 |
- The Motley Fool
Another Week in Red for Cannabis Investors as Earnings Disappoint
Here's a look at Aurora Cannabis stock's massive decline post-earnings.
- The Canadian Press
Aurora shares sink on weak results and halting construction of cannabis plants
Aurora Cannabis Inc. shares sank to a two-year low Friday after its revenues missed expectations and the pot producer announced it was halting construction at one production facility and pausing work at another to save more than $190 million in planned expenses.The Edmonton-based company's shares fell to a low of $3.57 and closed down 79 cents or 18 per cent to $3.59 in trading on the Toronto Stock Exchange.Aurora announced after markets closed on Thursday that it will immediately cease construction of its Aurora Nordic 2 facility in Denmark to save about $80 million over the next year, as well as indefinitely defer completion of construction and commissioning at its Aurora Sun facility in Alberta to conserve $110 million."We're making sound decisions in reducing capex based on global demand," founder and CEO Terry Booth said during a conference call.The company said it is adjusting the construction timeline for both facilities to more closely align with its expectations for the timing of increasing Canadian and international demand."The past few months have been challenging for the broader cannabis industry between issues of governance, evolving consumer demand and provincial retail bottlenecks, there's been no shortage of negative news," added chief corporate officer Cameron Battley."That said, I want to reiterate that our view of the opportunity in the Canadian and global cannabis industry is still extremely robust. It's important to remind ourselves that the Canadian consumer market is just over a year old. These issues will take a little time to resolve. But in the end, we'll be a stronger business because of it."The construction decisions come as the company reported net income of $10.4 million for the quarter ending Sept. 30, compared with net income of $104.2 million for the same quarter last year.Aurora missed expectations as its adjusted earnings before interest, depreciation and amortization (EBITDA) was negative $39.7 million for its first quarter of fiscal 2020. That compared with a loss of $67.6 million a year earlier and a loss of $11.7 million the fourth quarter ended in June.Revenues were $75.3 million in the first quarter, up from $29.7 million for the same quarter last year, but down from the $94.6 million in the prior quarter.Analysts had expected adjusted EBITDA loss of $18.6 million and revenue of $93.31 million, according to financial markets data firm Refinitiv.While medical marijuana sales grew three per cent from the fourth quarter as the number of patients hit a record 91,000, consumer cannabis sales dropped 33 per cent on slowing demand from provinces as they work through high inventory levels.Analyst John Chu of Desjardins Capital Markets slashed his target price for Aurora by more than half to $6.50 per share after cutting his sales and EBITDA forecasts following Aurora's release of its first-quarter results."We still believe there remains tremendous growth in the sector and have maintained similar year-over-year sales growth rate estimates for our fiscal year 2021-2023 forecast periods, but operating off a lower base following the soft first quarter results," he wrote in a report, adding that he's maintaining his buy rating."Aurora is generating industry-leading gross margins, improving cost per gram and has award-winning strains that should continue to resonate with consumers."Despite some of the negative results, Battley said its cash cost to produce fell 25 per cent to 85 cents per gram, the average net selling price per gram was up seven per cent, kilograms produced climbed 43 per cent to 41,436 kilograms and its gross margin was stable at 58 per cent "which is head and shoulders above our peers."Based on these returns, Aurora says it would need to generate $130 million of revenue to become profitable, less than half the total that would be required by a comparable company earning lower margins.The company said it is preparing to supply new products, referred to as Cannabis 2.0, that have recently become legal that it says will help to reduce the illegal market.I'm excited as hell about 2.0," said Booth. "I know I'm supposed to be told be conservative, Terry, but I really am pumped about how Aurora has done its job and getting ready for 2.0. And all indicators from our retailers, from our provinces, from Health Canada and all the little hints that you hear says that Aurora is at the top of that pack as well. So we're pretty pumped."This report by The Canadian Press was first published Nov. 15, 2019.Companies in this story: (TSX:ACB) Ross Marowits, The Canadian Press
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (17,028.47, up 56.29 points.)Aurora Cannabis Inc. (TSX:ACB). Health care. Down 79 cents, or 18.04 per cent, to $3.59 on 27.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up five cents, or 0.19 per cent, to $26.31 on 9.3 million shares.Enbridge Inc. (TSX:ENB). Energy. Up 51 cents, or 1.02 per cent, to $50.51 on 8.2 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down 13 cents, or 15.66 per cent, to 70 cents on 6 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up five cents, or 0.95 per cent, to $5.29 on 5.5 million shares.OceanaGold Corp. (TSX:OGC). Materials. Down 55 cents, or 17.46 per cent, to $2.60 on 5.1 million shares. Companies in the news:Aurora Cannabis Inc. — Aurora Cannabis Inc. shares sank to a two-year low Friday after its revenues missed expectations and the pot producer announced it was halting construction at one production facility and pausing work at another to save over $190 million in planned expenses. Aurora announced after markets closed on Thursday that it will immediately cease construction of its Aurora Nordic 2 facility in Denmark to save about $80 million over the next year, as well as indefinitely defer completion of construction and commissioning at its Aurora Sun facility in Alberta to conserve $110 million.The Green Organic Dutchman Holdings Ltd. — The Green Organic Dutchman Holdings Ltd. shares fell sharply in early trading following a $20.1 million third quarter loss for the cannabis company as the industry struggles to meet expectations. The Mississauga-based company says its loss increased from $11.3 million in the same quarter last year as costs rose from its expansion towards commercial production. The company says it invested $104 million in capital spending in the quarter, including the continued construction of two facilities in Ontario and Quebec.Canadian National Railway Co. (TSX:CNR). Up 44 cents to $123.94. Canadian National Railway Co. is confirming job cuts as it deals with a weakening North American economy that has eroded demand for railroad transportation. The company said it is "adjusting its resources to demand" but wouldn't say how many people will be affected. It said some employees will be placed on furlough and there will be reductions in both management and union job numbers. In October, Canada's largest railroad operator cut its adjusted earnings per share outlook percentage for 2019 to the high single digits, down from predictions of low double-digit growth.This report by The Canadian Press was first published Nov. 15, 2019. The Canadian Press
- Yahoo Finance
Why a 'blue wave' in 2020 could set cannabis stocks up to double
While some market analysts point to a blue wave being value destructive to the overall market, it could boost cannabis stocks, says CFRA's Garrett Nelson.
- The Motley Fool
Should Beaten-Down Aurora Cannabis (TSX:ACB) Stock Be on Your 2020 Buy List?
Could this be the best time to buy Aurora Cannabis's (TSX:ACB)(NYSE:ACB) stock cheap as sentiment worsens for the marijuana industry?
CNW GroupHigh Tide Issues $2 Million of Convertible Debentures
CALGARY , Nov. 15, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has issued unsecured convertible debentures of the Company (the "Debentures") under a non-brokered private placement (the "Offering") with proceeds of $2,000,000 . The proceeds of the Offering will be used by High Tide to fund the construction of its next Canna Cabana and KushBar stores as well as for general working capital purposes.
- Market Exclusive
Cannabis Stock News Roundup November 15
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) reported its financial and operational results for the three and nine months ended September 30, 2019. The company experienced a loss of C$20.1 million for the third quarter. The important move TGOD made in the quarter was entering the recreational market with a small pilot in Ontario. […]The post Cannabis Stock News Roundup November 15 appeared first on Market Exclusive.
- Market Exclusive
Market Morning: Alibaba Goes Hong Kong, Uber Dump, Alzheimer’s Hope, Cannabis Collapse
Alibaba, Now May Not Be the Best Time to IPO in Hong Kong Alibaba (NYSE:BABA) is going public in Hong Kong with a $13.4 billion listing, and it’s putting extra stress on the Hong Kong banking system specifically at a time when the island is on the verge of exploding in cacophonous riots leading to […]The post Market Morning: Alibaba Goes Hong Kong, Uber Dump, Alzheimer's Hope, Cannabis Collapse appeared first on Market Exclusive.
- Yahoo Finance Canada
Aurora Cannabis halts construction plans after miss in latest quarter
The pot producer has announced plans to shore up its balance sheet that include halting construction plans at facilities in Alberta and Denmark.
- CNW Group
Aurora Cannabis Announces Temporary Amended Early Conversion Privilege for its 2020 Convertible Debentures
TORONTO , Nov. 14, 2019 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today that it has provided notice to all holders (the "Debentureholders") of the Company's CAD$230 million 5% unsecured, convertible debentures due March 9, 2020 (the "Debentures") of an opportunity to voluntarily convert their Debentures at the Amended Early Conversion Ratio (as defined herein). All Debentureholders will be able to convert their Debentures at the Amended Early Conversion Ratio during the period commencing on November 18, 2019 and ending at 5:00 p.m. ( Toronto time) on November 20, 2019 (the "Early Conversion Period").
- CNW Group
Aurora Cannabis Announces First Quarter 2020 Results & Corporate Action Plan
NYSE | TSX: ACB Reports Industry Leading Gross Profit of $53.7 Million and 58% Cannabis Gross Margin Delivers Best-in-Class Indoor Cash Cost to Produce of $0.85 per gram Announces Plan to Settle March ...
- Yahoo Finance
How this CBD company created a buzz by 'kind of making fun of millennial culture'
Ask Benjamin Witte about Recess, and one of the first places he’ll send you is the company’s Instagram page.
- The Motley Fool
5 Must Watch Items as Aurora Cannabis (TSX:ACB) Reports Quarterly Earnings on Thursday
The following items require special investor focus in the upcoming quarterly earnings of Aurora Cannabis (TSX:ACB)(NYSE:ACB).
- The Motley Fool
2 Marijuana Stocks I’d Buy on the Verge of an Industry Purge
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) and another robust marijuana stock could still make you filthy rich.
- CNW Group
Aurora Cannabis Announces 2019 AGM Voting Results
All Items of Business Approved EDMONTON , Nov. 11, 2019 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora" or the "Issuer") (NYSE │ TSX: ACB), the Canadian company defining ...
- The Motley Fool
Don’t Give Up on These 2 Stocks Yet
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) and BlackBerry Ltd. (TSX:BB)(NYSE:BB) look like promising comeback candidates ahead of 2020.
- The Motley Fool
Kicking Aurora (TSX:ACB) When it’s Down Is Unwise
Find out why Aurora can still be worth holding, even when its market value is consistently going down.
- The Motley Fool
ALERT: 1 Week Before Aurora Cannabis (TSX:ACB) Earnings
Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) is set to release earnings next week, as its stock nears a 52-week low.
CNW GroupHigh Tide Opens 26th Canna Cabana and 3rd KushBar Bringing its Total to 29 Branded Retail Cannabis Stores across Canada
/NOT FOR DISTRIBUTION TO NEWSWIRE SERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES ...
- Market Realist
Does Aphria’s Valuation Look Attractive in November?
Aphria’s stock price has risen 8.9% since reporting its Q1 earnings on October 15. The cannabis sector's weakness offset some of these gains.
- Market Realist
Cronos Group Joins Altria to Bet on Cannabidiol Market
Cannabis company Cronos Group has expanded its presence in the US cannabidiol market through a tie-up with tobacco company Altria Group.
