WEED.TO - Canopy Growth Corporation

Toronto - Toronto Delayed Price. Currency in CAD
37.25
+0.84 (+2.31%)
At close: 4:00PM EDT
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Previous Close36.41
Open36.82
Bid37.25 x 0
Ask37.39 x 0
Day's Range36.47 - 38.02
52 Week Range34.36 - 76.68
Volume1,903,675
Avg. Volume1,745,853
Market Cap12.654B
Beta (3Y Monthly)5.27
PE Ratio (TTM)N/A
EPS (TTM)-6.22
Earnings DateAug 27, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est65.34
  • Thomson Reuters StreetEvents

    Edited Transcript of CGC.TO earnings conference call or presentation 15-Aug-19 12:30pm GMT

    Q1 2020 Canopy Growth Corp Earnings Call

  • Weekly Cannabis Stock News: Canopy Growth's Ugly Q1
    Motley Fool

    Weekly Cannabis Stock News: Canopy Growth's Ugly Q1

    The bellwether marijuana stock delivered a very disappointing quarter, and Tilray's latest wasn't much better. Aurora Cannabis, meanwhile, gets to borrow a bit more money.

  • Cannabis Roundup on FIRE, ACB, CGC, and TLRY
    Market Realist

    Cannabis Roundup on FIRE, ACB, CGC, and TLRY

    Cannabis stocks mostly traded in positive territory today. Supreme Cannabis (FIRE) and Aurora Cannabis (ACB) rose about 9.5% and 5.5%, respectively.

  • Canopy Growth executives compensation surges following cannabis legalization
    The Canadian Press

    Canopy Growth executives compensation surges following cannabis legalization

    Canopy Growth Corp.'s top six executives saw their total compensation surge to a combined $28.5 million payout last year, a period that included the first months since cannabis was legalized in October.Nearly 90 per cent of the payout to the six top officials was in the form of option-based awards, the Smiths Falls, Ont., company said Friday in a regulatory filing ahead of its annual meeting on Sept. 17.The executives received a combined $11.3 million in fiscal 2018 and $4 million a year earlier.Bruce Linton, who was ousted as co-CEO earlier this year, received $9.33 million in the fiscal year ended March 31, up from $2.52 million a year earlier. It included $8.56 million in option-based awards, a $450,000 bonus, $318,000 salary and $3,568 in other compensation.He also received a $1.5-million payout after being terminated without cause as of July 2. All of Linton's uninvested options immediately vested upon his termination and remain exercisable until their original expiry date, said the filing.Linton was fired in the wake of a statement from shareholder Constellation Brands Inc., which invested $5 billion last November, that it was "not pleased" with Canopy's year-end results.Constellation owns a 35.55 per cent stake in Canopy and has the right to nominate four directors to Canopy's board.CEO Mark Zekulin, who was previously president and co-CEO, received $5.96 million in compensation last year, including $5.2 million in options, a $500,000 salary and a $250,000 bonus. That was up from almost $2.5 million in fiscal 2018.Zekulin said this week that he would be leaving the company "once a suitable CEO is found."Former chief financial officer Tim Saunders received $5.93 million in compensation last year. He retired in June but remains a strategic adviser.Acting president Rade Kovacevic, chief legal officer Phil Shaer and chief information officer Ru Wadasinghe each received more than $2.4 million in compensation.The proxy circular was released a day after the company's shares fell 14.5 per cent and touched their lowest level this year after quarterly results were released that suggested the cannabis producer lost market share. They partially rebounded by gaining $1.39 or 3.8 per cent at $37.80 in Friday afternoon trading.The company missed expectations as it reported $90.5 million in revenues in the first quarter of the current fiscal year, up from $25.9 million a year earlier when recreational marijuana was still illegal in Canada. Compared with the quarter before, sales were down by about $4 million.Zekulin said Thursday that Canopy has grabbed 25 per cent to 33 per cent of the market and expects to maintain and increase its market share, and as the market grows that will mean increasing revenues.Canopy said that two of its directors waived their right to receive compensation last year, while five others received between $216,682 and $356,230. Chris Schnarr, who resigned Nov. 1, received nearly $7.4 million in compensation, primarily from $7.1 million in option-based awards. Companies in this story: (TSX:WEED)Ross Marowits, The Canadian Press

  • Charlotte’s Web Holdings Stock Down after Earnings
    Market Realist

    Charlotte’s Web Holdings Stock Down after Earnings

    Charlotte's Web Holdings stock (CWBHF)(CWEB) was down 6.6% yesterday after the company reported lower-than-expected Q2 earning results.

  • Canopy Growth Corp. (CGC) Q1 2020 Earnings Call Transcript
    Motley Fool

    Canopy Growth Corp. (CGC) Q1 2020 Earnings Call Transcript

    CGC earnings call for the period ending June 30, 2019.

  • Canopy Growth Earnings Impacted the Cannabis Sector
    Market Realist

    Canopy Growth Earnings Impacted the Cannabis Sector

    Canopy Growth’s weak results weighed on the entire cannabis sector. Most of the cannabis stocks were in the red on Thursday.

  • Bruce Linton Bought More Canopy Growth Stock
    Market Realist

    Bruce Linton Bought More Canopy Growth Stock

    Canopy Growth's ex-CEO, Bruce Linton, increased his investment in the company. Linton stated that he's still positive about the company's future.

  • Motley Fool

    How Did Canopy Growth Bungle Things So Badly in Q1?

    There are two possible answers. And neither one of them is good.

  • CNW Group

    /R E P E A T -- Media Advisory - Canopy Growth to donate $100,000 to Forest Ontario to help plant millions of trees/

    KEMPTVILLE , ON and SMITHS FALLS, ON , Aug. 15, 2019 /CNW/ - Canopy Growth Corporation is pleased to invite you to attend a cheque presentation at Ferguson Tree Nursery in Kemptville, Ontario . Seeing ...

  • CNW Group

    /R E P E A T -- From Revolution to Evolution: Cannabis Culture 50 years later/

    Now, 50 years later, the crowd that started it all has become one of the most important, influential and educated consumer groups in the legal cannabis market—the 55+ Boomers. "Over the past two months, Tweed has worked with market research firm, Leger, polling the Boomer generation for their opinions on cannabis pre and post-legalization in regards to education, community and the future of the consumer landscape," says Rade Kovacevic, President of Canopy Growth Corporation. "This is a demographic with an incredibly unique viewpoint that has experienced and observed the cannabis industry's transition from prohibition to legalization over the past 50 years.

  • Canopy Growth shares tumble on CEO exit plans, loss of market share
    The Canadian Press

    Canopy Growth shares tumble on CEO exit plans, loss of market share

    Canopy Growth Corp. shares fell to a 2019 low on Thursday after quarterly results suggested the cannabis producer lost market share and an announcement that its interim chief executive plans to leave the company, just weeks after his co-CEO was pushed out.The Smiths Falls, Ont.-based company shares closed down $6.16 or 14.47 per cent at $36.41 on the Toronto Stock Exchange.Canopy reported a $1.28-billion loss or $3.70 per share for the three months ended June 30, compared with a loss of $91 million, or 40 cents a share, in the same quarter the previous year. Analysts had predicted the company would book a loss of 70 cents per share on $107.1 in revenue, according to financial data firm Refinitiv.Quarterly revenues in what was the company's fiscal first quarter of 2020 fell short of those expectations at $90.5 million, up from $25.9 million a year earlier, before recreational marijuana was legal in Canada. Compared with the quarter before, sales were down by about $4 million.Medical cannabis revenues decreased five per cent year-over-year, with a 39 per cent drop in Canada offset by a large increase in international sales."It appears Canopy is losing market share," John Chu, an analyst with Desjardins, wrote in a note. Canopy's net sales of $90 million fell short of Desjardins's $125-million estimate.CEO Mark Zekulin said Thursday that Canopy was successful when recreational cannabis became legal in Canada in October and that allowed it to grab 25 per cent to 33 per cent of the market."Our competitors have now began to ramp up their own supply," he said, adding that the company has had to retrofit some of its facilities."We are still within that one quarter to one-third market share," though it's now towards the lower end of that band, Zekulin said.Still, he added, the company expects to maintain and increase its market share and as the market grows that will mean increasing revenues.Zekulin announced on the call that he has decided to leave the company "once a suitable CEO is found." The news came just six weeks after co-CEO and board member Bruce Linton was abruptly ousted in the wake of a statement from shareholder Constellation Brands Inc., which invested $5 billion last November, that it was "not pleased'' with Canopy's year-end results.At the time, Zekulin said he will work with the board to begin a search to find a new leader to guide the company in its next phase.Canopy has hired a U.S. recruitment firm, Zekulin said, and the CEO search is well underway with "several exceptional candidates" already identified.It expects to have the executive post transition completed within the next several months, said Zekulin, who did not disclose his future plans. Follow @AleksSagan on Twitter. Companies in this story: (TSX:WEED)Aleksandra Sagan, The Canadian Press

  • Canopy Rivers' thriving ecosystem demonstrated by purchase and supply agreement between portfolio companies
    CNW Group

    Canopy Rivers' thriving ecosystem demonstrated by purchase and supply agreement between portfolio companies

    JWC AND TERRASCEND SIGN MUTUALLY BENEFICIAL PURCHASE AND SUPPLY CONTRACT TORONTO , Aug.15, 2019 /CNW/ - Canopy Rivers Inc. (" Canopy Rivers " or the " Company" ) (TSXV: RIV) (OTC: CNPOF) ...

  • CNW Group

    From Revolution to Evolution: Cannabis Culture 50 years later

    Now, 50 years later, the crowd that started it all has become one of the most important, influential and educated consumer groups in the legal cannabis market—the 55+ Boomers. "Over the past two months, Tweed has worked with market research firm, Leger, polling the Boomer generation for their opinions on cannabis pre and post-legalization in regards to education, community and the future of the consumer landscape," says Rade Kovacevic, President of Canopy Growth Corporation. "This is a demographic with an incredibly unique viewpoint that has experienced and observed the cannabis industry's transition from prohibition to legalization over the past 50 years.

  • Motley Fool

    Why Tapestry, General Electric, and Canopy Growth Slumped Today

    Bad news for all three companies led to big losses.

  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,012.53, down 33.41 points).Encana Corp. (TSX:ECA). Energy. Down 14 cents, or 2.47 per cent, to $5.52 on 9.4 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 47 cents, or 5.8 per cent, to $7.63 on 9.4 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Down 12 cents, or 7.02 per cent, to $1.59 on 8.4 million shares.RNC Minerals Inc. (TSX:RNX). Materials. Down six cents, or 11.76 per cent, to 45 cents on 6.7 million shares.Stornoway Diamond Corp. (TSX:SWY). Materials. Down half a cent, or 20 per cent, to two cents, on 5.5 million shares.Kinross Gold Corp. (TSX:K). Materials. Up six cents, or 0.93 per cent, to $6.52 on 4.9 million shares.Companies in the news:Canopy Growth Corp. (TSX:WEED). Down $6.16 or 14.5 per cent to $36.41. Canopy Growth Corp. shares fell to their lowest level this year after quarterly results that suggested the cannabis producer lost market share and an announcement that its CEO plans to leave the company, just weeks after his co-CEO was pushed out. CEO Mark Zekulin said Thursday that Canopy was successful when recreational cannabis became legal in Canada in October and that allowed it to grab 25 per cent to 33 per cent of the market. Zekulin says the company expects to maintain and increase its market share and as the market grows that will mean increasing revenues.Intact Financial Corp. (TSX:IFC). Up 36 cents to $124.14. Intact Financial Corp. has signed a deal to buy The Guarantee Co. of North America and Frank Cowan Co. Ltd. from Princeton Holdings Ltd. for $1 billion in cash. The Guarantee is a specialty lines insurer in Canada and the U.S., while Frank Cowan is a managing general agent focused on specialty insurance. Intact is a provider of property and casualty insurance in Canada and a provider of specialty insurance in North America. The company says the acquisition will bolster its position and add new products for the high net worth customer segment.Hudson's Bay Co. (TSX:HBC). Up one cent to $9.40. The special committee of the board at Hudson's Bay Co. says Catalyst Capital Group Inc. has turned down a request to extend a deadline for its offer for a roughly 10.7 per cent stake in the retailer. The bid by the investment firm, which is seeking to buy the shares in an effort to oppose a proposal to privatize the company, is set to expire on Friday. It is offering to buy up to nearly 19.8 million shares at a price of $10.11 per share. Meanwhile, the special committee urged shareholders to exercise caution with respect to the Catalyst offer. It noted the offer does not provide shareholders with certain protections typically required under a formal takeover bid.The Canadian Press

  • Aurora Cannabis Is Upsizing Its Secured Credit Facility
    Market Realist

    Aurora Cannabis Is Upsizing Its Secured Credit Facility

    Aurora Cannabis (ACB) announced that it's increasing its secured credit facility to 360 million Canadian dollars from $200 million Canadian dollars.

  • Canopy Growth loses Canadian market share, expects profit in 3 to 5 years
    Yahoo Finance Canada

    Canopy Growth loses Canadian market share, expects profit in 3 to 5 years

    Canopy Growth Corp. shares fell on Thursday as investors digested a quarter in which the world’s largest cannabis producer lost ground in the Canadian market, missed revenue expectations, and took an $8 million writedown to account for potential product returns from provincial distributors.

  • Canopy Growth needs another 3-5 years to turn profit
    Reuters

    Canopy Growth needs another 3-5 years to turn profit

    U.S.-listed shares of Canopy fell as much as 14.5% to $27.30, a day after the company reported disappointing quarterly results. As marijuana companies spend heavily, investors have been worried about their ability to post a profit, even as their top lines surge. Canopy posted a C$1.2 billion loss and lower-than-expected sales for the first quarter, joining rivals Cronos Group and Tilray which recently reported wider quarterly losses.

  • Cannabis ETF manager explains why the industry is falling short of expectations
    Yahoo Finance

    Cannabis ETF manager explains why the industry is falling short of expectations

    Canopy Growth joins a recent slate of cannabis companies that are disappointing investors. The manager of the first "pure-play" cannabis ETF on the NYSE explains why the industry is coming up short.

  • Motley Fool

    Why Canopy Growth Stock Is Sinking Today

    The cannabis producer's stunning revenue decline and massive net loss in Q1 have investors worried.

  • Motley Fool

    Stock Market News: Cisco Looks Weak; Canopy Growth Gets Smoked

    Thursday morning saw continued nervousness among investors.

  • Companies to watch: Pivotal in buyout talks, Canopy Growth posts a loss, iHeartMedia's strong quarter
    Yahoo Finance

    Companies to watch: Pivotal in buyout talks, Canopy Growth posts a loss, iHeartMedia's strong quarter

    Pivotal, Canopy Growth, iHeartMedia, PG&E and Boeing are the companies to watch on Thursday, August 15, 2019.

  • Motley Fool

    Canopy Growth's Horrible, Ugly Q1 Results: 3 Things You'll Want to Know

    The Canadian cannabis producer's latest results were much worse than anyone expected.

  • Motley Fool

    Canopy Growth's Poor Earnings Report: All the Key Metrics You Should Know

    Canopy stock is poised to drop big on Thursday after the cannabis company missed fiscal Q1 revenue and earnings estimates.