|Bid||4.2300 x N/A|
|Ask||4.2400 x N/A|
|Day's Range||4.1500 - 4.5200|
|52 Week Range||2.4700 - 11.3000|
|Beta (5Y Monthly)||3.95|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr. 12, 2020 - Apr. 16, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.71|
(Bloomberg) -- Move over materials, there’s a new kid on the block. The C$300 billion ($230 billion) industrials group has ousted miners and forestry stocks to become the third-most valuable collection of companies on Canada’s equity market, behind banks and energy.Comprised mainly of transportation, engineering and construction stocks, industrials are generally seen as cyclical stocks and had blockbuster gains last year with a 24% rally. That was behind only tech and utilities.Last year Ballard Power Systems Inc.’s shares more than doubled after reporting a technology breakthrough that will reduce the amount of high-cost platinum used in its fuel-cell products. Air Canada came in second in the group after announcing a planned acquisition of tour operator Transat AT, accelerating its global presence in the leisure industry.Ballard’s surge has continued this year, climbing about 70% in January, as China signaled it wouldn’t further cut subsidies for electric vehicles, easing some fears for battery investors.One drag on the sector has been Bombardier Inc., which saw its stock slump and bonds tumble this week after the company said it was rethinking the A220 jet program with Airbus as it seeks ways to increase cash flow to help with paying down its $10 billion debt load. But, at a shadow of its former self, its contribution to the sectoral gauge is less than 1%.Markets -- Just The NumbersChart of The WeekEconomyCanadian businesses reported improved sentiment amid reduced concern about global trade conflicts, according to a Bank of Canada survey. Future sales like new orders have picked up, particularly outside of the energy sector, the Ottawa-based central bank’s fourth-quarter survey of executives found.Economists will see a big data dump on Jan. 22 with new housing price figures, inflation and the Bank of Canada’s rate decision.PoliticsPrime Minister Justin Trudeau’s bid to complete the Trans Mountain oil pipeline won a major victory Thursday as the nation’s top court rejected an appeal brought by British Columbia aimed at challenging the controversial project. The Supreme Court of Canada has dismissed the case, the court said in a statement.TrendingInCanada1\. St. John’s, Newfoundland, has declared a state of emergency as a blizzard ramps up with 75 centimeters of snow expected in the province.2\. And if you missed it, we taste-tested McDonald’s Corp. and Beyond Meat Inc.’s new PLT burger, which is getting a trial run in Ontario.\--With assistance from Steven Frank.To contact the reporter on this story: Divya Balji in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Kyung Bok Cho at email@example.com, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (17,484.77, up 69.60 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down 57 cents, or 31.84 per cent, to $1.22 on 60.3 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 10 cents, or 3.72 per cent, to $2.79 on 19.2 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 10 cents, or 4.15 per cent, to $2.31 on 7 million shares.Encana Corp. (TSX:ECA). Energy. Up three cents, or 0.54 per cent, to $5.56 on 6.7 million shares.Organigram Holdings Inc. (TSX:OGI). Health care. Up 36 cents, or 8.89 per cent, to $4.41 on 6.7 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down 1.5 cents, or 8.57 per cent, to 16 cents on 5.9 million shares. Companies in the news:Bombardier Inc. — The future of Bombardier Inc. is being called into question after the company said it was actively considering alternatives to reduce its staggering debt. After exiting the commercial aircraft business, selling its aerostructures unit and unloading a large tract of land in Toronto, the company said it is working to reduce debt and "solve its capital structure." Bombardier's shares plunged more than 30 per cent to their lowest level in nearly four years following its release which pointed to a possible withdrawal from a partnership with Airbus in the commercial aircraft previously called the C Series.Magna International Inc. (TSX:MG). Up $1.22 or 1.7 per cent to $70.64. Magna International Inc. is scaling back its partnership with Lyft Inc. to co-develop self-driving technology as it focuses research and development spending on more near-term prospects. It was only about two years ago that the Aurora, Ont.,-based auto parts giant struck an ambitious partnership with ride-hailing firm Lyft to develop and manufacture self-driving systems at scale. The partnership was proposed as a way to merge Magna's automotive expertise with Lyft's data-gathering and real-world testing to roll out technology that they said was expected to be market-ready over the "next few years" as self-driving ambitions in the industry grew.Canadian Tire Corp. Ltd. (TSX:CTC.A). Up $1.48 to $144.79. Canadian Tire Corp. Ltd. is promoting Gregory Craig to the job of chief financial officer, replacing Dean McCann, who is retiring. Craig is president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank. He takes over the new job on March 2. McCann will continue as a director of Canadian Tire Bank and a trustee of CT REIT. The company also announced that Mahes Wickramasinghe will become president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank.Barrick Gold Corp. (TSX:ABX). Up 22 cents to $23.60. Barrick Gold Corp. says its gold production for 2019 is expected to come in near the top end of its guidance, while copper production is forecast to be more than its earlier expectations. The gold miner says preliminary results indicate it produced 5.5 million ounces of gold last year compared with its guidance for between 5.1 million and 5.6 million ounces. Preliminary copper production results indicate it produced a total of 432 million pounds compared with guidance for between 375 million and 430 million pounds. Barrick says preliminary fourth-quarter results show sales of 1.413 million ounces of gold and 91 million pounds of copper, as well as fourth quarter production of 1.439 million ounces of gold and 117 million pounds of copper.This report by The Canadian Press was first published Jan. 16, 2020.The Canadian Press
Organigram stock spiraled upwards after its stellar fiscal first-quarter 2020 results yesterday. Are macro conditions improving for pot stocks?
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce it has secured a supply agreement with Medical Cannabis by Shoppers, the online medical cannabis platform by Shoppers Drug Mart Inc. ("Shoppers").
Shares of Organigram rose nearly 50 per cent in Wednesday’s trading session on the heels of a strong quarterly results driven in large part by pot sales to other licenced producers.
(Bloomberg) -- Organigram Holdings Inc.’s chief executive officer warned that the industry will remain unpredictable until the final quarter of this year, even as the pot producer’s stock headed for its biggest gain ever.Organigram shares surged as much as 50% Wednesday in New York after its fiscal first-quarter revenue beat the highest analyst estimate and it returned to positive adjusted Ebitda after a loss in the prior quarter. Investors are eager to see cannabis companies report profits, rewarding the few that have and punishing those that haven’t.Much of the sector followed Organigram higher, with Hexo Corp. up 17%, Aurora Cannabis Inc. gaining 15%, Cronos Group Inc. adding 8.2% and Aphria Inc. up 8%.However, it will take a few more quarters before the industry can generate predictable results, said CEO Greg Engel.“I still think we’re not going to hit any sense of normalcy or predictability until the fourth quarter of this year,” Engel said in a phone interview.One of the biggest unknowns is how Canada’s rollout of newly legal products including vapes and edibles will go. Engel said Organigram has already seen provinces submit reorders for its vapes, which hit shelves on Dec. 17, and one province tripled its initial order for Organigram’s chocolates, which won’t begin selling until later this quarter.The company acquired a high-capacity chocolate production line in October and would be willing to do white-label manufacturing for other companies, Engel said.Organigram will also continue to sell its cannabis to third parties, he said. The company booked an unexpected C$9.2 million in wholesale revenue in the first quarter as its competitors showed a willingness to pay for high-quality product, the main reason it was able to beat revenue estimates.“We’ve had multiple companies come to us who are more reliant on this model both as a strategy and/or in the near term and we saw it as a diversification opportunity,” he said.Analysts applauded the quarter and said Organigram appears to be one of the better-positioned Canadian pot producers.“We are pleasantly surprised to see Organigram beat our estimates, as well as the street’s; Organigram has successfully sidestepped industry roadblocks that some of its peers have met, violently, head-on,” Raymond James analyst Rahul Sarugaser said in upgrading the stock to outperform from market perform. “We believe clear skies are visible on Organigram’s horizon.”(Updates share move in second paragraph, adds industry moves in third paragraph)To contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Organigram Holdings Inc. is anticipating that consumers seeking non-smokable cannabis will help to further boost its revenues that more than doubled to $25.2 million in the first quarter.The company based in Moncton, N.B., says revenues were up from $12.4 million a year earlier.Chief executive Greg Engel foresees tremendous opportunities ahead as demand for vapes, chocolates and powdered products accelerates in the coming months."The feedback we're hearing from the retailers is that the consumer that's coming in today, many of them are consumers who have not come into retail stores because they don't want to look for a dried flower product in the past," he said in an interview.That should translate into new revenues as between 40 to 45 per cent of sales should come from these Rec 2.0 products, according to results in U.S. states.The first vape pens were shipped as planned in December while premium cannabis-infused chocolates are to begin sales later in the quarter.Sales of powdered products, to be added to a consumer's beverage of choice, are expected in the second quarter.Engel declined to provide specific dates for the launch of these products but said one large unnamed province has already tripled its order for cannabis-infused chocolates."There's a tremendous amount of opportunities with 2.0 products. It's going to expand the market dramatically."Revenues during the first quarter included $16.7 million of sales to the adult-use recreational market and about $9.5 million to medical markets, partly offset by a $1.1 million provision for product returns and price adjustments.The provision related to two slow-selling products sold to the Ontario Cannabis Store — a lower THC dried flower and THC oils.Organigram's net loss was $863,000 or less than a cent per share, compared with a loss of $29.5 million or 19.5 cents per share in the prior year. That large loss was largely due to non-cash fair value changes to biological assets and inventories.The cannabis producer was expected to lose $3.9 million or three cents per share on $19.6 million in revenues, according to financial markets data firm Refinitiv.Engel said he's pleased with the solid quarterly results and positive adjusted EBITDA, but wouldn't say when it will become profitable."We're at the point where it's a marginal loss but it is in part because the market really has not grown and we expect that to shift."Organigram said last November that its net revenue in the quarter would be higher than the $16.3 million in the fourth quarter due to increased sales to provinces and higher wholesale revenue.The company said the Canadian cannabis market is poised for growth with more retail store openings planned in Ontario and Quebec, two provinces that together account for more than 60 per cent of the country's population.In particular, Ontario is moving to open more retail stores with approvals to be issued in April at an initial rate of about 20 per month.Quebec also plans to double the number of stores and Alberta's network of 375 stores will continue to grow to meet consumer demand.Legalization of edible and derivative products is also expected to significantly expand the legal market although Newfoundland & Labrador, Quebec and Alberta have announced delays or restrictions on the launch of vaporizable products.That increased demand should allow the company to move fairly quickly to "reinvigorate" its expansion plans, Engel added.This report by The Canadian Press was first published Jan. 14, 2020.Companies in this story: (TSX:OGI)Ross Marowits, The Canadian Press
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce its results for the first quarter ended November 30, 2019 ("Q1" or "Q1 2020").
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce it has been chosen as one of Atlantic Canada’s Top Employers.
Hunting for a bargain? This group of beaten-down stocks, including Aurora Cannabis (TSX:ACB)(NYSE:ACB), might provide the value you're looking for.
Aphria (TSX:APHA)(NYSE:APHA) will release quarterly results this month, two more Canadian marijuana names have upcoming news this January.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today it will report earnings results for its first quarter fiscal 2020 ended November 30, 2019 on Tuesday, January 14th after market close.
Up-and-coming Venture graduates are always a great place to find the next big thing, such as Pro Real Estate Investment Trust (TSX:PRV.UN), which has been growing its business rapidly.
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce the first of its ‘Cannabis 2.0’ products have been released, including Trailblazer Spark, Flicker and Glow 510-thread Torch vape cartridges.
Cannabis investors have witnessed a strong correction this year. Is it time to play safe and bet on profitable pot stocks in an uncertain macro-environment?
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of cannabis, is pleased to announce that the Company has received Health Canada’s approval for the licensing of 16 additional cultivation rooms under the Cannabis Regulations. The expanded license was effective as of December 12, 2019.
Organigram Holdings Inc. (“Organigram” or the “Corporation”) (OGI.TO) (OGI) announced today that it has established an at-the-market equity program (the “ATM Program”) that allows the Corporation to issue up to C$55,000,000 (or its U.S. dollar equivalent) of common shares (“Common Shares”) from treasury to the public from time to time, at the Corporation’s discretion. Any Common Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”), the NASDAQ Global Select Market (the “NASDAQ”) or any other marketplace on which the Common Shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.
Cannabis company Organigram Holdings Inc. is gearing up for the production of vape pens, cannabis infused chocolates and powdered beverages even as it faces uncertain demand for recreational marijuana.The company said Monday it submitted new product notifications to Health Canada for a portfolio of vape pens and cannabis infused chocolates in October and expects to launch some vape pens next month and chocolates in the first three months of 2020.Sales of powdered products to be added to a consumer's beverage of choice are expected in the second quarter of 2020."This unique product allows us to enter the beverage space without having to secure bottling or canning equipment and incurring significant transport costs associated with liquid beverages," CEO Greg Engel told analysts during a conference call.The company based in Moncton, N.B., expects substantial construction of additional in-house extraction capacity and expanded vape pen filling space to be completed by the end of calendar 2019 at a cost of $60 million to $65 million.It has also almost completed an automated chocolate production line which includes a chocolate moulding line and a fully integrated packaging line with advanced engineering, robotics, high-speed labelling and automated carton packing.While Phase 5 expansion is continuing, the company has paused completion of its Moncton Phase 4 cultivation facility at 70 per cent for recreational marijuana until there's more clarity on retail expansion in Canada, especially in Ontario."At this time, we believe this is adequate supply, adequate capacity to take advantage of the market opportunity in the short to medium term until market matures," Engel said.The company had warned earlier this month that revenue in its fourth-quarter would be lower than the third quarter.However, Organigram said Monday it expects net revenue in the first-quarter of its 2020 financial year to rise compared with the fourth quarter of its 2019 financial year due to increased sales to provinces and higher wholesale revenue.In reporting its full financial results, Organigram said its net loss from continuing operations totalled $22.5 million or 14 cents per diluted share for the quarter ended Aug. 31 compared with a profit of $18.1 million or 12 cents per share a year ago, due to non-cash fair value changes to biological assets and inventories.Net revenue for its fourth quarter totalled $16.3 million, up from $3.2 million a year ago. However, the result was down from net revenue of $24.8 million in the third quarter.It blamed slower than expected store openings in Ontario that was further exacerbated by increased industry supply. The company also said it faced a high amount of product returns in the quarter related to two products sold to the Ontario Cannabis Store.For the full-year, the company lost $9.5 million on $80.4 million of net revenue, compared with a $22.1 million profit on $12.4 million of revenues in 2018. The results included a gain of $10.6 million in fair value changes to biological assets and inventories, compared with a gain of $46 million a year ago.This report by The Canadian Press was first published Nov. 25, 2019.Companies in this story: (TSX:OGI) Ross Marowits, The Canadian Press
The Canadian cannabis producer blames a “lack of sufficient retail network and slower than expected store openings in Ontario” and rising industry-wide supply for the drop.
The last three months have been tough on OrganiGram Holdings Inc. (TSE:OGI) shareholders, who have seen the share...
Hunting for a bargain? This group of beaten-down stocks, including OrganiGram Holdings (TSX:OGI)(NASDAQ:OGI), might provide the value you're looking for.