Latest news with #ATBCapitalMarkets
Cision Canada
2 days ago
- Business
- Cision Canada
ATB Financial to Acquire Independent Investment Bank Cormark Securities Inc.
Expands ATB Capital Markets' capabilities and service offering, increasing coverage for its clients EDMONTON, AB, Aug. 11, 2025 /CNW/ - ATB Financial, the largest financial institution headquartered in Western Canada, announced today that they have entered into an agreement to acquire all of the outstanding shares of Cormark Securities Inc. ("Cormark"), a strong Canadian independent investment bank with offices in Toronto and Calgary. Founded in 1981, Cormark is an established institutionally oriented industry leader recognized for its knowledge and commitment for mid-cap and emerging growth clients. It has participated in over 1,000 equity financings over the past decade, raising gross proceeds of more than $100 billion. Cormark provides investment banking, broad based equity research coverage and institutional sales and trading to clients in Canada and internationally. It has been ranked as a top five Canadian mid-market dealer by institutional investors for the last 10 years, as compiled by Brendan Wood International. "Combining Cormark with our ATB Capital Markets business significantly broadens our collective breadth and depth to deliver deeper value to clients as a full service capital markets firm," said Darren Eurich, CEO of ATB Capital Markets. "Together, our complementary expertise expands our ability to serve clients in Canada and the US, attract exceptional talent, and accelerate our growth strategy." The acquisition is expected to close in the fall pending customary closing conditions, including required regulatory approvals. "Joining ATB Capital Markets marks an important milestone in Cormark's evolution," said Scott Lamacraft, Executive Chairman of Cormark. "We're proud of our more than 40-year history and even more excited about where our combined business will take us. This partnership allows us to deliver greater solutions for our clients, expands opportunities for our team, and positions the combined firm for accelerated growth." The ATB Capital Markets and Cormark firms will integrate their operations under ATB Capital Markets' CEO, Darren Eurich. Cormark's Scott Lamacraft and Susan Streeter will join as Executive Chair and Head of Strategy and Growth respectively. "As our clients across Canada navigate an increasingly complex economic landscape, the enhanced capabilities of the combined firm will contribute to a strong, competitive, and client-focused capital markets industry that supports economic growth nationwide," added Curtis Stange, President & CEO of ATB Financial. PricewaterhouseCoopers Corporate Finance Inc. ("PwC") is acting as exclusive financial advisor and Blake, Cassels & Graydon LLP ("Blakes") is acting as legal counsel to ATB Financial. Borden Ladner Gervais LLP ("BLG") is serving as legal counsel to Cormark Securities Inc. while SHEUMACK GMA, along with its affiliate, SGMA Capital Markets Limited, is serving as Cormark's exclusive financial advisor. About ATB Financial Powering possibilities for our clients, communities, and beyond is what drives us at ATB Financial. As a leading Alberta-based financial institution with over $100 billion in total assets and assets under management, our success comes from more than 5,000 team members who deliver exceptional experiences to over 835,000 clients across our Personal and Business Banking, ATB Wealth Management, and ATB Capital Markets businesses. ATB provides expert advice and services through our extensive branch network and agencies, our 24-hour Client Care Centre, four entrepreneur centers, and our digital banking options. ATB Financial is bronze certified as part of the Partnership Accreditation in Indigenous Relations commissioned by the Canadian Council for Indigenous Business. More information about ATB can be found at About Cormark Securities Inc. Cormark Securities Inc. is a leading employee-owned independent investment bank focused on providing comprehensive coverage of Canadian listed companies to domestic and international institutional investors from offices in Toronto and Calgary. Cormark offers a full range of services to its corporate clients including equity underwriting, mergers and acquisition advisory, and debt capital market solutions. Cormark prides itself in providing its corporate and institutional clients with an intimate link to the capital markets, top-tier execution and insightful investment ideas.
Business Insider
4 days ago
- Business
- Business Insider
Enerflex (EFX) Receives a Buy from ATB Capital Markets
In a report released today, from ATB Capital Markets maintained a Buy rating on Enerflex, with a price target of C$19.00. The company's shares closed today at C$12.56. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Currently, the analyst consensus on Enerflex is a Strong Buy with an average price target of C$16.21, a 29.06% upside from current levels. In a report released today, BMO Capital also maintained a Buy rating on the stock with a C$16.00 price target. Based on Enerflex's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$561 million and a net profit of C$15 million. In comparison, last year the company earned a revenue of C$782.21 million and had a GAAP net loss of C$127.34 million Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EFX in relation to earlier this year.
Business Insider
7 days ago
- Business
- Business Insider
Enbridge (ENB) Receives a Buy from ATB Capital Markets
In a report released today, from ATB Capital Markets maintained a Buy rating on Enbridge, with a price target of C$67.00. The company's shares closed today at $46.74. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. In addition to ATB Capital Markets, Enbridge also received a Buy from Raymond James's Justin Jenkins in a report issued today. However, on the same day, National Bank maintained a Hold rating on Enbridge (NYSE: ENB). Based on Enbridge's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $18.5 billion and a net profit of $2.36 billion. In comparison, last year the company earned a revenue of $11.04 billion and had a net profit of $1.51 billion
Yahoo
15-07-2025
- Business
- Yahoo
Canadian dollar to strengthen; analysts see 'systemic weakness' for USD through 2025
The Canadian dollar is expected to rise against its American counterpart through 2025, say analysts predicting investors will continue to shun the U.S. currency. ATB Capital Markets head of currencies Bill Kellett says the story remains one of U.S. dollar weakness, rather than loonie strength. He expects both currencies will underperform through the remainder of the year, with the American dollar falling harder than Canada's currency. 'USD weakness will likely outpace CAD weakness, setting up for a move lower in USD/CAD,' he wrote in a research report on Monday. 'We anticipate USD/CAD will drift moderately lower over the second half of 2025, edging down to the low 1.3000's.' The Canadian dollar (CADUSD=X) eased slightly against its U.S. counterpart on Tuesday, trading at US$0.7287. U.S. President Donald Trump's chaotic trade agenda continues to stoke fears of rising inflation and softer growth among global investors. Uncertainty linked to Trump's unpredictable bursts of tariffs against major economies has raised questions about the stability of the U.S. dollar and its role as the global reserve currency. 'While dramatic capital rotation out of the U.S. is not a sustainable reality, the USD is showing signs of longer-term systemic weakness,' Kellett wrote. 'We expect the theme of USD weakness will continue through the balance of 2025, and this variable will be the main overarching factor impacting FX markets.' CIBC economists Avery Shenfeld and Katherine Judge agree. 'The Canadian dollar has remained on a strengthening trajectory recently, but that continues to be a reflection of the broad USD falling out of favour with investors, rather than a case of strong Canadian fundamentals,' they wrote in the bank's July foreign exchange report. 'Markets are pricing in a slightly more modest dose of easing from the Bank of Canada than we expect, and look to be too optimistic on Fed cuts,' they added. 'That leans towards pressure on the loonie in the near term, but progress on trade negotiations over the next few months could be an offset, leaving USDCAD relatively stable at 1.37 into the end of Q3.' Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo
15-07-2025
- Business
- Yahoo
Canadian dollar to strengthen; analysts see 'systemic weakness' for USD through 2025
The Canadian dollar is expected to rise against its American counterpart through 2025, say analysts predicting investors will continue to shun the U.S. currency. ATB Capital Markets head of currencies Bill Kellett says the story remains one of U.S. dollar weakness, rather than loonie strength. He expects both currencies will underperform through the remainder of the year, with the American dollar falling harder than Canada's currency. 'USD weakness will likely outpace CAD weakness, setting up for a move lower in USD/CAD,' he wrote in a research report on Monday. 'We anticipate USD/CAD will drift moderately lower over the second half of 2025, edging down to the low 1.3000's.' U.S. President Donald Trump's chaotic trade agenda continues to stoke fears of rising inflation and softer growth among global investors. Uncertainty linked to Trump's unpredictable bursts of tariffs against major economies has raised questions about the stability of the U.S. dollar and its role as the global reserve currency. 'While dramatic capital rotation out of the U.S. is not a sustainable reality, the USD is showing signs of longer-term systemic weakness,' Kellett wrote. 'We expect the theme of USD weakness will continue through the balance of 2025, and this variable will be the main overarching factor impacting FX markets.' CIBC economists Avery Shenfeld and Katherine Judge agree. 'The Canadian dollar has remained on a strengthening trajectory recently, but that continues to be a reflection of the broad USD falling out of favour with investors, rather than a case of strong Canadian fundamentals,' they wrote in the bank's July foreign exchange report. 'Markets are pricing in a slightly more modest dose of easing from the Bank of Canada than we expect, and look to be too optimistic on Fed cuts,' they added. 'That leans towards pressure on the loonie in the near term, but progress on trade negotiations over the next few months could be an offset, leaving USDCAD relatively stable at 1.37 into the end of Q3.' Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
