|Bid||3.3400 x 0|
|Ask||3.3500 x 0|
|Day's Range||3.3400 - 3.8000|
|52 Week Range||3.3400 - 11.2900|
|Beta (3Y Monthly)||4.95|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct. 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.87|
HEXO Corp. (TSX:HEXO)(NYSE:HEXO) stock is in a free fall. If you're a believer in the pot industry, this might be your best chance at capitalize on a hyper-growth opportunity.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,415.16, down 7.52 points).Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, 2.02 per cent, to $4.86 on 9.2 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up 55 cents, or 5.71 per cent, to $10.19 on 8.4 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 7.21 per cent, to $1.19 on 6.3 million shares.Algonquin Power & Utilities Corp. (TSX:AQN). Energy. Down 39 cents, or 2.11 per cent, to $18.06 on 5.3 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down $1.37, or 5.75 per cent, to $22.44 on 5 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 41 cents, or 10.9 per cent, to $3.35 on 4.9 million shares. Companies in the news:Tourmaline Oil Corp. (TSX:TOU). Up $1.61 or 15 per cent to $12.33. Tourmaline Oil Corp.'s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company's stock on Friday, although its share prices remained well below their 52-week highs. Tourmaline announced Thursday after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash. Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement.WSP Global Inc. (TSX:WSP). Up $1.32 to $77.60. WSP Global Inc. is extending its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP's seventh acquisition this year — in an ongoing bid to overtake rival SNC-Lavalin Group Inc. The Montreal-based engineering company announced Friday it will pay an undisclosed amount for the deal through available cash and credit facilities. The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in additional annual revenue, according to analyst estimates. WSP's 2018 net revenues were $6 billion.MTY Food Group Inc. (TSX:MTY). Down $5.50 or 8.7 per cent to $57.75. MTY Food Group Inc. shares dropped to their lowest level in months after the restaurant franchisor reported quarterly revenue and profit that came in below analyst estimates. MTY reported earlier that profit attributable to its shareholders in the third quarter was $22.9 million or 91 cents per share for the quarter ended Aug. 31. That was up from $22.1 million or 88 cents per share in its 2018 fiscal third quarter, but short of estimates. Analysts had estimated $1.02 per share of profit and $167.9 million of revenue, according to financial markets data firm Refinitiv. MTY's revenue rose to $163.6 million from $113.0 million while system sales generated by its restaurants were a record $1.08 billion, up 36 per cent from $789.9 million a year earlier. This report by The Canadian Press was first published Oct. 11, 2019.The Canadian Press
Hexo Corp. (TSX:HEXO)(NYSE:HEXO) has lost over 65% in market value since its peak. Here's why investors need to remain cautious despite the significant pullback.
HEXO Corp (TSX:HEXO)(NYSE:HEXO) management's latest revenue guidance and financial outlook withdrawal paints a gloomy picture for the cannabis industry and elevates its stock's risk profile.
Millionaire-maker stocks like Shopify Inc (TSX:SHOP)(NYSE:SHOP) almost never go on sale. If you want to capitalize on some recent price declines, now's your chance.
Shares of Hexo Corp. plunged after the cannabis company said its fourth-quarter net revenues will fall below its expectations by roughly 40 per cent and it withdrew its guidance for the 2020 financial year.Hexo's stock slipped nearly 23 per cent or $1.12 to close at $3.76 on the Toronto Stock Exchange Thursday from its previous close of $4.88. It reached a low of $3.60 in earlier trading Thursday.Earlier Thursday, the Gatineau, Que.-based pot producer issued preliminary guidance for its fourth quarter, which ended July 31, that its net revenue is expected to be about $14.5 million to $16.5 million. That's a steep cut from the roughly $26 million in fourth-quarter net revenues it had signalled previously."Fourth quarter revenue is below our expectation and guidance, primarily due to lower than expected product sell through," said Hexo chief executive Sebastien St-Louis in a statement."While we are disappointed with these results, we are making significant changes to our sales and operations strategy to drive future results."St-Louis also said that over the past quarter, Hexo began "re-configuring our operations" to focus on high-selling strains and initiated a new sales strategy.In June, the company said it expected the fourth quarter to approximately double its third-quarter net revenues, which were $13 million, as it began realizing sales from the first harvests of its B9 greenhouse.Hexo on Thursday cited slower than expected store rollouts, a delay in government approval for cannabis derivative products and early signs of pricing pressure as reasons for its decision."The delay in retail store openings in our major markets has meant that the access to a majority of the target customers has been limited," St-Louis said. Based on preliminary financial information and subject to year-end closing adjustments, Hexo said it now expects net revenue for its full financial year to be approximately $46.5 million to $48.5 million.Hexo also said it was withdrawing its previously issued outlook for its 2020 financial year. In June, Hexo had issued guidance of up to $400 million in net revenue in its 2020 financial year."Withdrawing our outlook for fiscal year 2020 has been a difficult decision," added St-Louis. "However, given the uncertainties in the marketplace, we have determined that it is the appropriate course of action. We are also placing a greater focus on profitability."RBC Capital Markets analyst Douglas Miehm said Hexo's updated fourth-quarter expectations "will catch much of the Street off guard, especially since the company started shipping products to provinces outside of Quebec during the quarter."Miehm said he was less surprised about the company's withdrawal of its 2020 forecast of $400 million, as market expectations were too high. He said RBC Capital Markets' net revenues estimate for Hexo's fiscal 2020 is $250 million, but noted that there is "significant risk" to Hexo's ability to meet that mark as well."We also contend that this provides a readthrough for other LPs (licensed producers), which ... could face challenging growth prospects in the months ahead," Miehm said in a note to clients.Last week, Hexo chief financial officer Michael Monahan resigned for family reasons after taking the role in May.Hexo will release its full financial results on Oct. 24. This report by The Canadian Press was first published Oct. 10, 2019.Companies in this story: (TSX:HEXO)Armina Ligaya, The Canadian Press
HEXO Corp. (TSX:HEXO)(NYSE:HEXO) just found out what happens when revenue guidance is way off the mark. Is the sell-off overdone or is more downside on the way for the stock?
Shares of HEXO plunged more than 20 per cent after the Canadian cannabis producer warned of weaker sales and pulled its financial guidance for fiscal 2020.
GATINEAU, Quebec, Oct. 10, 2019 -- HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NYSE: HEXO) is providing preliminary revenue for its fiscal fourth quarter and year ended.
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Hexo Corp (TSX:HEXO)(NYSE:HEXO) was down on Monday, as investors reacted to a surprise announcement that took place late last week.
Find out why stocks like HEXO Corp (TSX:HEXO)(NYSE:HEXO) and Green Organic Dutchman Holdings Ltd (TSX:TGOD) could be in for a transformational 2020.
CALGARY, Oct. 8, 2019 /CNW/ - Inner Spirit Holdings Ltd. ("Inner Spirit" or the "Company") (CSE:ISH.CN - News), a Canadian company establishing a national network of retail cannabis stores under its Spiritleaf brand, today announced an October 10, 2019 opening for its newest franchise retail cannabis store in Southeast Calgary's Penbrooke community and also that it has received cannabis retail store licences from Alberta Gaming, Liquor and Cannabis (the "AGLC") for a franchise location in Sexsmith, Alberta and from the British Columbia Liquor and Cannabis Regulation Branch (the "LCRB") for a franchise location in West Kelowna, British Columbia. Please visit www.spiritleaf.ca for more information including opening dates and operating hours.
The stocks of major cannabis companies like Canopy Growth Corp (TSX:WEED)(NYSE:CGC) are down by 50% or more. If you want to take advantage, here's what to buy.
GATINEAU, Que. — Cannabis company Hexo Corp. says its chief financial officer has resigned, effective today, after taking on the role in May.Hexo CFO Michael Monahan says in a release that he has decided to resign because the job requires him to spend the majority of his time in Gatineau, Que., and in Ottawa, which is not possible "given my family's needs."He adds in a statement that he has had a "very rewarding time" at Hexo and will assist the company as a consultant to ensure a smooth transition. Hexo's CEO announced that its vice-president of strategic finance, Stephen Burwash, has accepted the role of CFO.In late May, Hexo announced Monahan's appointment as CFO, as well as the establishment of Hexo USA Inc. in Delaware as part of its formalization of its presence south of the border.Earlier in May, Hexo had announced that Burwash would serve as acting chief financial officer on an interim basis, after its previous announcement that its then-CFO Ed Chaplin would transition out of the company.In January, the pot producer said in a release that the CFO transition plan was announced at its annual general meeting and as Hexo turns its attention to global expansion, its focus would be on "individuals with global consumer packaged goods company experience."This report by The Canadian Press was first published Oct. 4, 2019.Companies in this story: (TSX:HEXO)The Canadian Press
“Since joining HEXO Corp, it has become apparent that this job requires me to spend the majority of my time in Gatineau and in Ottawa. HEXO Corp’s CEO has also announced that Stephen Burwash, who is currently Vice-President of Strategic Finance for the Company, has accepted the role of Chief Financial Officer.
Here's the strong case for why shares in licensed producer Hexo Corp (TSX:HEXO)(NYSE:HEXO) are as good as any among cannabis stocks right now.
Cannabis producer revenues could take a hit as pot shops shift from big initial orders fuelled by fears of shortages to smaller inventory purchases prioritizing brands consumers actually want to buy.