|Bid||69.79 x 0|
|Ask||69.80 x 0|
|Day's Range||69.50 - 69.95|
|52 Week Range||66.36 - 78.60|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||10.42|
|Earnings Date||Aug 27, 2019|
|Forward Dividend & Yield||3.48 (5.02%)|
|1y Target Est||78.15|
Both Enbridge Inc. (TSX:ENB)(NYSE:ENB) and Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) shares are attractively valued this summer. Don't miss out!
Two banks, the Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and the Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) have hit the 5% buy point. Which is a buy?
TORONTO, July 19, 2019 /CNW/ - The Bank of Nova Scotia (BNS or the Bank) announced today the closing of its inaugural USD 500 million 3.5-year Green Bond offering (the Green Bonds), boosting its commitment to Sustainable Business and creating a better future for all. The net proceeds from the Green Bond offering will be used to fund the financing or refinancing, in whole or in part, of eligible green assets, which refer to new or existing assets, businesses or projects that meet the Scotiabank Green Bond Framework Eligibility Criteria, including renewable energy, clean transportation and green buildings. "This Green Bond offering marks a major milestone for Scotiabank," said Tom McGuire, Executive Vice President and Group Treasurer at Scotiabank.
(Bloomberg) -- Junkyard palladium is quickly becoming a growth market as mined supplies of the silvery-white metal used to control harmful auto emissions run increasingly short.With palladium prices up 83 percent since mid-August, recyclers are gaining an edge at a time when some producers are forecasting a deficit of about 1 million ounces for the year. If the raw metal is removed from holders in 2019 at the same rate as 2018, “known inventories” may run out in about a year, said Nicky Shiels, a strategist at the Bank of Nova Scotia.Recyclers can recover about 90 percent of the metal from catalytic converters in junked cars for a fraction of the cost of mining it. The result: As prices surge, so does the amount of reclaimed palladium. In the first 10 months of 2018, 3.2 million ounces were returned to the market, up 11 percent from the year earlier. That’s almost half the amount produced in mines.“Recycling is where we expect to see the strongest growth,” said Suki Cooper, an analyst at Standard Chartered Bank, by telephone. "It’s a significant portion of total supply.” Spot palladium climbed one percent to $1,546.74 an ounce at 2:34 p.m. in New York.About 80 percent of palladium ends up in the exhaust systems of cars, where it helps turn pollutants into less-harmful carbon dioxide and water vapor. It’s also used in electronics, dentistry and jewelry. The metal’s mined primarily in Russia and South Africa, and mostly extracted as a secondary product to other metals, such as platinum or nickel.The problem moving forward, according to Cooper, is that there are “no fresh investments to increase output in either of the two regions.”Falling ShortIn 2019, the amount of palladium produced is projected to fall short of demand for the eighth straight year. While some obscure metals are still more valuable, the price for palladium topped gold in December for the first time since the early 2000s.Scrap dealers “are more aware of where palladium prices are. Over the past two years, we’ve been seeing an increase in recycling” driven by higher prices of platinum group metals, including palladium, and higher steel prices as well, Cooper said. At the same time, she added, "scrap dealers are also recovering spent autocats at a faster pace.”Three GramsRecyclers recover about three grams of palladium from the catalytic converters in junked cars in a three-step process that starts with a dealer removing the catalytic converter. Refiners will then use large semi-automated sheers to get to the palladium before it’s ground into a fine powder in a large milling machine.To make it 99.95 percent pure, the powder is then concentrated using an electric arc furnace and refined through a wet chemical process, according to BASF, which has recycling facilities in South Carolina, Michigan and the U.K.Meanwhile, all of this is happening as consumption of palladium increases at a time when production of electric vehicles, including hybrids, is also surging amid a global push to cut emissions for cleaner air, Eily Ong, an analyst at Bloomberg Intelligence.“The EU has a binding target of cutting emissions by at least 40 percent by 2030 from 1990 levels, while China aims for 26-28 percent cuts from 2005 levels,” Ong wrote in a report.There are other factors helpful to the recyclers as well. The volume of vehicles sold for scrap increased last year as the price of steel climbed, making it more profitable to scrap old cars, according to Peter Duncan, general manager of market research for Johnson Matthey Plc, a U.K.-based specialty chemicals company.While automakers could throw a wrench in palladium’s use by switching to platinum, which has many of the same characteristics, it’s not an easy change. Research shows that technological advances are needed before platinum can match the performance of existing palladium-based catalytic converters, and analysts have said it could take as long as 18 months to incorporate such a switch.In the meantime, recyclers are doing their best to take advantage of the deficit.“The market trends are clear,” said Uve Kupka, the president for North America at Heraeus Precious Metals, in an email. His company is now “aggressively” investing in its global recycling business, he added.(Corrects 11th paragraph of the story published on Feb. 28, 2019 to show that palladium use is rising just as EV production is surging.)To contact the reporter on this story: Susanne Barton in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Reg Gale, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bank stocks like Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and Royal Bank of Canada (TSX:RY)(NYSE:RY) have delivered huge returns to shareholders. Learn why investors are excited for the future.
TORONTO , July 17, 2019 /CNW/ - Brian Porter , President and CEO, The Bank of Nova Scotia (BNS), joined Lou Eccleston , CEO, TMX Group, to open the market to celebrate 100 years listed on Toronto Stock ...
TORONTO, July 15, 2019 /CNW/ - British Columbia will lead provincial economic growth this year and next, says Scotiabank Economics in its Q3 Provincial Economic Outlook. The report was released this morning, on the heels of Scotiabank Economics' overall Q3 Global Economic Outlook titled, "The Perils of Trumponomics", published Friday. "With continued strength in job creation and major project activity in 2019 and 2020, British Columbia will lead the provinces with respective real GDP gains of 2.2% and 3.0%," said Marc Desormeaux, Provincial Economist at Scotiabank.
TORONTO, July 15, 2019 /CNW/ - Today, Scotiabank and MD Financial Management Inc. (MD), in collaboration with the Canadian Medical Association (CMA), are announcing a $3.58 million investment to support professional development for family doctors across the country as well as awards and scholarships for medical students and family medicine residents. Scotiabank and MD have also signed a five-year agreement with the College of Family Physicians of Canada (CFPC) and its Foundation for Advancing Family Medicine (FAFM) to support the next generation of family doctors.
Canada’s banking sector has often been praised for its stability and is generally the go-to investment for risk adverse investors. Lately however, Canadian banking stocks have been under pressure thanks to low interest rates and slowdowns in loan generation. Based on the latest loan data from the Office of the Superintendent of Bankruptcy, we can […]
If you're a retiree seeking extra income, high-yield dividend stocks like Enbridge Inc (TSX:ENB)(NYSE:ENB) may be just what you need.
TORONTO, July 12, 2019 /CNW/ - Scotiabank Economics today published its Q3 Global Economic Outlookreport. "Following two years of fiscally-induced sugar highs, the US economy is slowing rapidly as that stimulus wanes and Trump's trade policies, threats, and bluffs begin to weigh on US economic activity," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. "Markets are now convinced that the Federal Reserve will cut rates to offset some of these shocks, boost inflation, and insure against possible future damages caused by the President's interventions.
This trio of large-cap stocks, including Bank of Nova Scotia (USA) (NYSE:BNS), can provide the peace your portfolio needs.
Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) trades at a discount to its larger peers and offers an attractive dividend yield.