|Bid||1.0200 x 0|
|Ask||1.0400 x 0|
|Day's Range||0.9700 - 1.0400|
|52 Week Range||0.9100 - 5.8100|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.28|
TORONTO , Nov. 5, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. ("TGOD" or the "Company") (TSX: TGOD) (US: TGODF), a leading producer of premium certified organic cannabis, ...
Green Organic Dutchman Holdings Ltd (TSX:TGOD) stock has been hit hard this year, but it's putting the pieces in place for a massive 2020.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,594.07, up 110.91 points).Pengrowth Energy Corp. (TSX:PGF). Energy. Down 15 cents, or 75 per cent, to five cents on 19.8 million shares.Encana Corp. (TSX:ECA). Energy. Up 28 cents, or 5.43 per cent, to $5.44 on 14.1 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Up 15 cents, or 9.04 per cent, to $1.81 on 11.7 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up 11 cents, or 10.78 per cent to $1.13 on 5.4 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Up 12 cents, or 8.16 per cent, to $1.59 on 4.7 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up 22 cents, or 4.57 per cent, to $5.03 on 4.7 million shares. Companies in the news:TC Energy Corp. (TSX:TRP). Up 79 cent or 1.2 per cent to $67.18. The CEO of TC Energy Corp. says the company is cleaning up and investigating the cause after an "unfortunate" Keystone pipeline leak in North Dakota spilled an estimated 1.45 million litres of oil earlier this week. North Dakota Gov. Doug Burgum has asked the company to review its inspection and monitoring in light of the spill, but Russ Girling defended TC Energy's spill response on a conference call Friday to discuss its third-quarter results. TC Energy reported on Friday its net income came in at $739 million for the quarter ending Sept. 30, compared with $928 million for the same quarter a year earlier.BMO Financial Group. (TSX:BMO). Up 43 cents to $97.93. BMO Financial Group says it plans to appoint BCE Inc. chief executive George Cope as chairman of the BMO board next year, after his retirement from the telecommunications company in January. The Toronto-based banking group says it intends to appoint the long-time telecom industry executive upon his re-election as an independent director at BMO's annual meeting in March 2020. BMO chairman Robert Prichard will retire from the board at that time after 20 years as an independent director and as chairman since 2012.Cameco Corp. (TSX:CCO). Up 33 cents or 2.8 per cent to $12.09. Uranium miner Cameco Corp. says it swung to a $13 million loss in the third quarter, as revenue dropped 38 per cent from the comparable period last year. The company says the loss for the quarter ending Sept. 30 worked out to three cents per share, compared with earnings of $28 million or seven cents per share for the same quarter last year. Cameco had an adjusted net loss of $2 million, or a penny per share, compared with earnings of $15 million or four cents per share last year. Revenue came in at $303 million, down from $488 million a year earlier.Fortis Inc. (TSX:FTS). Down 45 cents to $54.27. Canadian utility company Fortis Inc. says it earned $278 million in the third quarter to stay roughly in line with a year earlier. Fortis says the earnings for the quarter ending Sept. 30 work out to 64 cents per share, compared with earnings of $276 million or 65 cents per share last year. Adjusted net earnings were $287 million, or 66 cents per share, compared with $277 million or 65 cents per share last year. Earnings per share were in line with analyst expectations according to financial markets data firm Refinitiv. In the quarter the company announced a five-year spending program of $18.3 billion, up by a billion dollars from the prior year's plan, as Fortis looks to move to cleaner energy and strengthen its networks.Pembina Pipeline Corp. (TSX:PPL). Down 13 cents to $46.24. Pembina Pipeline Corp. says it earned $370 million in the third quarter for an increase from a year earlier despite lower revenue. The Calgary-based pipeline company says the profit, which works out to 66 cents per share, was an increase from the $334 million or 60 cents per share it made in the same quarter a year earlier. Revenue came in at $1.7 billion for the quarter ending Sept. 30, down from $2.045 billion reported in the quarter a year earlier. Analysts had expected earnings of $314 million, or 60 cents per share, and revenue of $1.94 billion according to financial markets data firm Refinitiv. This report by The Canadian Press was first published Nov. 1, 2019.The Canadian Press
(Bloomberg) -- The rout in pot stocks is taking its toll on companies’ ability to raise money, just when they need it most.Hexo Corp. announced Wednesday that it will pay an annual interest rate of 8% on C$70 million of unsecured convertible debentures that will mature in three years.That tops the 5% Tilray Inc. pays for its $450 million of convertibles maturing in 2023, and the 5.5% coupon on Aurora Cannabis Inc.’s $345 million maturing in 2024.It’s not a shock that Hexo has to pay more, as the company recently lost its chief financial officer, withdrew its 2020 guidance and delayed its earnings release.Broader TroublesBut CIBC analyst John Zamparo said he was surprised by the “necessity, timing and terms” of the fund raising in the midst of a “very capital-constrained market for the cannabis industry.” The conversion price of C$3.16 a share is a 10% discount to Hexo’s closing share price on Wednesday, while the five most recent convertible debt deals in the sector had an average premium of 16%.“We struggle to reconcile this difference,” Zamparo said in a note. “We also believe it is fair to wonder whether this type of deal is best negotiated at a time when the company’s CFO has been in the role for less than one month.”It’s indicative of the broader troubles that are plaguing the cannabis sector as stocks have fallen by more than 50% on average since their March highs.Green Organic Dutchman Holdings Ltd. said earlier this month that it’s been unable to secure traditional sources of financing “on acceptable terms” and is slowing down construction of its greenhouse in Valleyfield, Quebec, until it can raise the money it needs.And there are likely to be plenty more companies in the same boat, according to Craig Behnke, equity analyst at trade publication Marijuana Business Daily.A study of 30 pot firms’ operating cash flow, capital expenditures, balance sheets and debt payable in 2020 found that nine had one and a half years or less of cash on hand. These companies will likely “have to meaningfully alter their expansion plans, reduce their guidance or raise very expensive capital if they are going to continue on their path,” Behnke said in an interview.Of the companies Behnke studied, MedMen Enterprises Inc. had the least cash coverage, followed by Acreage Holdings Inc. and CannTrust Holdings Inc. Hexo was in the middle of the pack with 2.2 years worth.(Adds analyst comment in paragraphs 5-6)To contact the reporter on this story: Kristine Owram in Toronto at email@example.comTo contact the editors responsible for this story: Jacqueline Thorpe at firstname.lastname@example.org, ;Brad Olesen at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Namaste Technologies (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) has entered into a secured convertible loan agreement with Choklat, a private chocolate manufacturer in Alberta. "We're investing in Choklat to ensure they're able to maximize the pending market opportunity for edibles," stated Meni Morim, the CEO of Namaste. The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) unveiled […]The post Cannabis Stock News Daily Roundup October 22 appeared first on Market Exclusive.
Each time cannabis companies like Canopy Growth Corp (TSX:WEED)(NYSE:CGC) post earnings, it gives investors a clearer view into the progress the industry is making toward growth and profitability.
The pot industry is growing at a rapid pace, but choosing winning stocks is getting harder. Learn what makes Green Organic Dutchman (TSX:TGOD) a sell and Cronos Group Inc (TSX:CRON)(NYSE:CRON) a buy.
Shares of The Green Organic Dutchman Holdings Ltd. fell more than 16 per cent after the company announced changes to its financing and construction plans due to a smaller-than-expected legal pot market.
TORONTO, Oct. 18, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD.TO - News) (US:TGODF - News), a leading producer of premium certified organic cannabis, today unveiled a new strategic plan, including a series of actions to reduce the Company's financing requirements while maintaining its path to profitability. These actions will result in increased agility, lower capital requirements and an optimal production capacity to serve the organic segment.
(Bloomberg) -- Pot legalization was supposed to eliminate the black market, boost Canada’s economy and enrich investors. It hasn’t quite turned out that way.A year after the country became the first major economy to legalize recreational cannabis, pot stocks have lost more than half their value, retail prices are nearly double those in the illicit market, sales are well below expectations and most companies are losing money.To be sure, creating a national market from scratch was never going to be easy and the highly regulated model has attracted plaudits from around the world. But few in the industry are prepared to call the first year a success, and plenty of challenges lie ahead as new products like vapes and edibles join dried flower on store shelves in December.Below, we separate the reality from the hype ahead of the October 17 anniversary:SalesIn June 2018, four months before legalization, Deloitte LLP predicted that legal pot sales would be as high as C$4.34 billion ($3.29 billion) in 2019. Not so much.Canadians bought C$524 million of legal weed in the first seven months of 2019, according to Statistics Canada. Sales have steadily increased since February as more retail stores have opened, but major suppliers like Aurora Cannabis Inc. have warned that revenue is likely to plateau in the fourth quarter before the new forms of the drug become available for sale.“Probably the biggest disappointment’s been the rollout of retail,” said Bruce Campbell, founder of StoneCastle Investment Management Inc., which manages the StoneCastle Cannabis Growth Fund. “It’ll probably be six or 12 months before we get broad retail, and that trickles down to everything else.”Ontario and Quebec, Canada’s two most populous provinces with nearly 23 million people between them, only have 25 stores each, leaving a large chunk of Canada’s population under served by physical stores.The reasons for the dearth of storefronts are often political. Ontario’s government delayed the province’s store rollout for nearly six months after legalization to consult with stakeholders and develop legislation, and then blamed the federal government for a lack of supply when it limited the initial number of locations to 25.Whatever the reasons, the impact is real. Provinces with more bricks-and-mortar stores had sales per capita nearly 2.5 times higher than their counterparts with fewer stores, according to Eight Capital analyst Graeme Kreindler.PricesAnother reason for slower-than-expected sales is the fact that consumers are being asked to pay nearly twice as much per gram in the legal market than the black market -- for less choice.The average price for a gram of legal pot fell 3.9% to C$10.23 in the third quarter from the second quarter, the first drop since pot was legalized on Oct. 17. But that remains nearly twice as high as black-market prices, according to Statistics Canada.And only dried flower and oils are currently available in the legal market. This leaves the black market to profit from popular formats like edibles and vapes until they begin to hit legal store shelves later this year. A Statistics Canada survey found 42% of pot consumers purchased at least some of their pot from illegal sources in the second quarter.“Eventually the black market will be replaced by the legalized market, but the question is whether that takes two years or five years or 10 years,” Campbell said.Earnings DismayInvestors are hankering for companies that can turn a profit but those are still few and far between. Of Canada’s six biggest companies by market value, five have recently disappointed the market, sending their stock prices tumbling. Here are a few examples:Bruce Linton, perhaps the best-known cannabis executive, was fired in July from Canopy Growth Corp. amid pressure from top shareholder Constellation Brands Inc. to show a faster path to profitability. In its latest quarter Canopy’s revenue declined to C$90 million, below the lowest analyst estimate, and the company said it won’t report a profit for three to five years. Shares fell 14% that day.Aurora Cannabis Inc. raised investor expectations in January when it said it would achieve “sustained” positive earnings before interest, taxes, depreciation and amortization beginning in its fiscal fourth quarter, which ended June 30. Instead, it reported an adjusted Ebitda loss of C$11.7 million and revenue that missed its own forecast. Aurora’s chief financial officer then said revenue growth may “pause” in the current quarter ahead of the rollout of new products. Shares fell 8.9% that day.Hexo Corp. plunged 23% on Thursday after the company said its fourth-quarter and full-year revenue would be well below analyst expectations and withdrew its guidance for fiscal 2020. The move came less than a week after its chief financial officer resigned abruptly after four months on the job, citing family reasons.“The lunch-bag letdown is that there are more companies that are focused on long-term growth than they are on becoming profitable in the near term,” said Charles Taerk, CEO of Faircourt Asset Management, which acts as an adviser for the cannabis-focused Ninepoint Alternative Health Fund. “Building an empire doesn’t necessarily translate to profitability.”Stock RoutLosses haven’t been the only thing weighing on pot stocks. CannTrust Holdings Inc.’s regulatory breach led to the firing of its CEO, a joint investigation by securities regulators and police and the suspension of its cannabis license. It also raised serious questions about the trustworthiness of pot companies and the ability of Canadian regulators to properly oversee the sector.In addition, a growing vaping-related health crisis is generating scary headlines just before the first legal cannabis vapes hit Canadian shelves. All these issues are making it increasingly difficult for companies to raise money, and have cut the value of pot stocks by more than 50% since their recent highs in March of this year.This has been particularly hard on smaller companies that don’t have the capital cushions of their larger peers.“There’s a growing separation between the haves and the have-nots,” Taerk said. “The ability to raise capital is now becoming more challenging for those companies that have not been able to prove their model.”Green Organic Dutchman Holdings Ltd., for example, tumbled almost 40% over two days last week after it said it was unable to secure traditional sources of financing on “acceptable terms.” Without financing, the company said it may be forced to revise its construction schedule for two facilities in Ontario and Quebec.“In order to survive, cannabis companies are left with few good options,” Seaport Global Securities analyst Brett Hundley said in a recent note. “We think a major shakeout is on the horizon.”U.S. OpportunityWhile Canada struggles to develop a functional market post-legalization, the U.S. is quietly eroding its neighbor’s first-mover advantage.U.S. cannabis companies’ stocks have been battered too, but several analysts say they’re likely to rebound faster and further than their Canadian counterparts. The biggest U.S. multi-state operators, or MSOs, are already generating more revenue than many of their Canadian peers, and there are a bevy of potential catalysts around the corner that could send them soaring.“For the U.S. MSO group, we see a completely different set of circumstances in place, and we would broadly recommend that investors rotate away from Canada and towards the U.S.,” Brett Hundley, analyst at Seaport Global Securities, said in a note published Monday.The SAFE Banking Act became the first major piece of pro-cannabis legislation to pass the House of Representatives last month, and many other bills that would make life easier for pot firms are working their way through the legislative process. In addition, major states like New York and New Jersey are expected to legalize recreational use by next year, and many believe it’s only a matter of time before the federal government implements some form of legalization as well.Reasons For OptimismYet changes are coming to Canada’s market which should buoy the industry. Canada’s legal store count is expected to grow significantly in coming months, with Ontario alone set to open 50 new stores beginning later this year.Companies are also hopeful that the addition of edibles, beverages, vapes and topicals to the roster of legal products will attract new consumers and boost their sales and margins.And most of Canada’s big pot producers have established a significant international presence that could help to offset any ongoing weakness in the Canadian market as legalization spreads around the world.“Everyone is so negative on what’s happening but I suspect that will turn because this is and will be one of the fastest-growing businesses in the next 10 years globally,” said StoneCastle’s Campbell. “It’s just a function of who wins and who loses.”To contact the reporter on this story: Kristine Owram in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Both Green Organic Dutchman Holdings Ltd (TSX:GOD) and Cronos Group Inc (TSX:CRON)(NYSE:CRON) are set to grow sales rapidly, but one is a potential buy, while the other may face steep hurdles.
Cannabis investments continued to decline in September 2019. Will things change for stocks like The Green Organic Dutchman Holdings Ltd (TSX:TGOD) in October?
The Green Organic Dutchman Holdings Ltd (TSX:GOD) stock plunged after Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) sold its remaining stake in the small pot company.
TORONTO — The Green Organic Dutchman Holdings Ltd. saw its shares plunge in early trading after the cannabis company said it was reviewing financing alternatives in order to complete construction at its facilities in Ancaster, Ont., and Valleyfield, Que.The company says due to changing market conditions, financing sources have been unavailable on acceptable terms within the timeframes required.Stocks in the cannabis sector have been under pressure in recent months due to various factors, including a slower-than-expected retail rollout and growing concern over a wave of vaping-related illnesses.The Green Organic Dutchman says it has started a review of alternatives.It says it may revise the construction schedule for its Ancaster and Valleyfield projects if it is unable to obtain sufficient financing on reasonable terms, within the required timeframe.The company's shares were down 28 cents or about 16 per cent at $1.53 in morning trading on the Toronto Stock Exchange after falling as low as $1.31.This report by The Canadian Press was first published Oct. 9, 2019.Companies in this story: (TSX:TGOD) The Canadian Press
TORONTO , Oct. 9, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, announces ...
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.