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Globe and Mail
3 days ago
- Business
- Globe and Mail
BCE Inc: Analyst Update & Analysis
BCE Inc. (BCE:CA) (BCE) National Bank Financial has maintained its 'Outperform' rating for BCE Inc., adjusting its 12-month price target to CAD 35 from CAD 36. This revision reflects a cautious outlook amid ongoing challenges in the telecommunications sector. Analyst Adam Shine's updated forecast for BCE's FY2025 earnings per share is CAD 2.70, slightly down from the previous estimate of CAD 2.71. This adjustment aligns with broader concerns over the company's financial health, including high leverage and dividend sustainability. Despite these challenges, BCE continues to offer a substantial dividend yield, which remains a key attraction for income-focused. Stock Forecast & Analysis According to the stock forecast from 12 analysts, the average 12-month target price for BCE Inc. is CAD 34.94. This represents a potential upside of approximately 17% from its most recent closing price of CAD 29.87. However, the average analyst rating is a 'Hold,' indicating a neutral stance on the stock. Analysts see limited near-term catalysts for significant growth, suggesting that investors should not expect major upside in the short term. Stock Target Advisor's independent fundamental analysis paints a more negative picture, rating BCE Inc. as 'Bearish.' This rating is based on three positive signals and eleven negative signals. The bearish assessment reflects concerns about the company's financial fundamentals, which likely include high levels of debt, weak earnings growth, and pressure on revenue. There are also likely worries about BCE's ability to sustain its dividend amid high capital expenditure and broader challenges in the Canadian telecom sector. Despite some recent signs of stabilization, BCE's share performance over the past year has been notably weak. The stock has gained 0.54% over the past week and 1.12% over the past month, but these small increases follow a steep decline of 36.78% over the past year. This long-term drop has been driven by factors such as rising interest rates, which reduce the appeal of dividend-paying stocks, concerns about the sustainability of BCE's dividend, and regulatory and competitive pressures affecting the Canadian telecom industry. In summary, while BCE Inc. still offers an attractive dividend and maintains its role as a defensive telecom stock, analysts and technical models remain cautious. With a 'Hold' rating consensus and bearish sentiment from algorithmic analysis, the company may struggle to regain investor confidence until it demonstrates more stable earnings, improved growth prospects, or clarity around its long-term capital strategy.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
Alaris Equity Partners Announces Closing of $80 Million Bought Deal Offering of 6.50% Convertible Unsecured Senior Debentures, and a US$21.5 Million Follow-On Investment in the Shipyard
NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) -- Unless otherwise stated, all numbers in this press release are presented in Canadian dollars. Alaris Equity Partners Income Trust (" Alaris" or the " Trust") (TSX: is pleased to announce that it has completed its previously announced offering of convertible unsecured senior debentures (" Debentures") with a syndicate of underwriters (the " Underwriters") led by National Bank Financial, CIBC Capital Markets and Desjardins Capital Markets, and including Acumen Capital Partners, Raymond James Ltd., RBC Capital Markets, Scotiabank, and Cormark Securities Inc. A total of $80 million aggregate principal amount of Debentures were issued at a price of $1,000 per Debenture (the " Offering"). The Trust has also granted the Underwriters an option to purchase up to an additional $12,000,000 aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, from time to time, up to 30 days following the closing of the Offering. The Debentures will bear interest at a rate of 6.50% per annum, payable semi-annually in arrears on June 30 and December 31 of each year commencing on December 31, 2025. The first payment will include accrued and unpaid interest for the period from closing to, but excluding, December 31, 2025. The Debentures will mature on June 30, 2030. The Debentures will commence trading today on the Toronto Stock Exchange under the symbol " The Trust intends to use the net proceeds of the Offering to partially repay outstanding indebtedness under Alaris' subsidiary's senior debt facility which may be subsequently redrawn and used to fund future investments in new Partner (as defined below) investments or general trust purposes. The Shipyard Follow-On On May 14, 2025, Alaris closed a US$21.5 million follow-on investment into The Shipyard LLC (" The Shipyard") in exchange for additional preferred equity in The Shipyard, which entitles Alaris to an additional annualized distribution of US$3.01 million (the " Shipyard Distribution"). The Shipyard used the proceeds of the additional investment to fund the purchase price of an acquisition. ABOUT ALARIS The Trust, through its subsidiaries, invests in a diversified group of private businesses (" Partners") primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Partners. This news release is not an offer of securities of Alaris for sale in the United States. The Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the Debentures may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. FORWARD LOOKING STATEMENTS This news release contains forward-looking statements, including forward-looking statements within the meaning of "safe harbor" provisions under applicable securities laws (" forward-looking statements"). Statements other than statements of historical fact contained in this news release may be forward-looking statements including, without limitation, management's expectations, intentions and beliefs concerning: the use of proceeds of the Offering, the use of the senior debt facility and the Shipyard Distribution. Many of these statements can be identified by words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations on which these forward-looking statements are based will occur. By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Key assumptions include, but are not limited to, assumptions that: Alaris will use the net proceeds from the Offering in the manner described herein, that the Debentures will trade on the TSX consistent with as described herein and that Alaris will receive annual distributions from The Shipyard as set forth herein. Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to: the use of proceeds from the Offering in a manner that differs than as set forth herein, the ability of The Shipyard to pay distributions and that the listing of the Debentures will not occur in the timeframes set out herein. Additional risks that may cause actual results to vary from those indicated are discussed under the heading "Risk Factors" and "Forward Looking Statements" in the Trust's Management Discussion and Analysis for the year ended December 31, 2024, which is filed under the Trust's profile at and on its website at Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management's current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Alaris does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. For further information please contact:
Globe and Mail
23-05-2025
- Business
- Globe and Mail
TerraVest Industries Inc. Announces Closing of Upsized Bought Deal Offering of Common Shares and Concurrent Closing of the Over-Allotment Option
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- TerraVest Industries Inc. (TSX:TVK) ('TerraVest' or the 'Company') is pleased to announce that it has closed its previously announced bought deal treasury offering (the 'Offering') and concurrent closing of the exercise in full of the over-allotment option granted to a syndicate of underwriters (the 'Underwriters') with National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets acting as Co-Bookrunners. Pursuant to the Offering, the Company issued an aggregate 2,001,000 common shares (the 'Shares') at a price of $160.30 per share (the 'Offer Price') for gross proceeds of $320,760,300. The gross proceeds include 261,000 Shares issued at the same Offer Price for gross proceeds of $41,838,300 on the exercise in full of the over-allotment option granted to the Underwriters. The net proceeds from the Offering will be initially allocated towards repaying existing debt and supporting general corporate activities, until required for future acquisitions or growth opportunities. ABOUT TERRAVEST INDUSTRIES INC.: TerraVest is a diversified industrial company that manufactures and sells goods and services to a variety of end-markets. The Company is a market-leading manufacturer of home heating products, propane, anhydrous ammonia ('NH3') and natural gas liquids ('NGL') transport vehicles and storage vessels, energy processing equipment and fiberglass storage tanks. TerraVest is focused on acquiring and operating market-leading businesses that will benefit from TerraVest's financial and operational support. For more information on the Company, please visit Additional information relating to the Company, including all public filings, is available on SEDAR+ ( FOR FURTHER INFORMATION, PLEASE CONTACT: Dustin Haw Chief Executive Officer TerraVest Industries Inc. ir@ Caution Concerning Forward-Looking Statements This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding the use of proceeds of the Offering, potential for future acquisitions by TerraVest, our strategic direction and evaluation of the business segments and TerraVest as a whole, TerraVest's plans with respect to its existing portfolio businesses and long-term acquisition strategy and other plans and objectives of or involving TerraVest. Readers can identify many of these statements by looking for words such as 'expects' and 'will' or similar terms or variations of these words. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements. Assumptions and analysis about the performance of TerraVest as a whole and its business segments, the markets in which the business segments compete and the prospects and values of the business segments are considered in setting the business plan for TerraVest, plans and/or ability to pay dividends, outlook for operations, financial position, results and cash flows, other plans and objectives and in making related forward-looking statements. Such assumptions include, without limitation, demand for products and services of the business segments in respect of the Canadian and other markets in which the businesses are active will be stable, and that input costs to business segments do not vary significantly from levels experienced historically. Should any of these factors or assumptions vary, actual results may differ materially from the forward-looking statements.
Globe and Mail
20-05-2025
- Business
- Globe and Mail
Are Canadian investors souring on U.S. stocks? Forget it
The exchange-traded fund that pulled in the most money last month invests in the S&P 500 stock index. The Canadian boycott of U.S. travel definitely has some traction, and commitment to buy Canadian in retail stores seems to be holding. But investors in this country remain open to U.S. stocks, particularly in light of their sharp price decline in the past two months. A report from National Bank Financial shows the top performing ETF sector in April was international equity ETFs, which took in $3-billion in assets. U.S. equity funds had flows of $1.5-billion, and Canadian equity funds took in $577-million. The ETF with the overall largest in-flows in April was the Vanguard S&P 500 Index ETF (VFV-T) – it took in $665-milllion. The currency hedged version of this ETF – the ticker symbol is VSP – made the best-selling list as well with in-flows of $151-million, while the more diversified Vanguard U.S. Total Market Index ETF (VUN-T) took in $152-million. Some readers I've heard from in the past few months said they're avoiding U.S. stocks because they disapprove of President Donald Trump's tariffs and comments about Canada becoming the 51st state. They also worry that Mr. Trump's policies will hurt the performance of U.S. stocks. In fact, U.S. stocks have underperformed Canadian and international markets for the year to date. But longer-term numbers favour U.S. stocks decisively. The 10-year annualized return for the S&P 500 stock index to April 30 was 11.2 per cent, compared to 7.2 per cent for the MSCI EAFE Index and 8.3 per cent for the S&P/TSX composite index. When the U.S. market falls, it can go down hard. There were three consecutive losing years in the early 2000s after the tech bubble exploded, and the loss in 2008 was a monster at close to 37 per cent. But the U.S. market is essential for a diversified portfolio, along with Canadian and international stocks. The April ETF sales figures suggest investors don't disagree.
Yahoo
19-05-2025
- Business
- Yahoo
i-80 Gold to raise $184m for Nevada development
US-based mining company i-80 Gold will raise a total of $184m through a bought deal public offering and a concurrent private placement. The proceeds are earmarked for the company's growth initiatives, particularly advancing a new development plan in Nevada, as well as for general corporate purposes. The previously announced public offering saw the issuance of 345.76 million units at $0.50 each, resulting in gross proceeds of $172.88m, including the full exercise of the over-allotment option. Each unit consists of one common share and half of one common share purchase warrant, with each full warrant allowing the purchase of an additional common share at $0.70 until 16 November 2027. In addition to the public offering, i-80 Gold is undertaking a private placement of 22.24 million units to generate an additional $11.12m. This private placement mirrors the terms of the public offering and involves certain directors, officers and individual shareholders. Subject to regulatory approvals, the private placement is expected to close around 20 May 2025 and will adhere to a six-month US and a four-month plus one-day Canadian hold period. The offering was spearheaded by National Bank Financial and Cormark Securities as co-bookrunners, alongside Canaccord Genuity and SCP Resource Finance as co-lead underwriters. Other financial institutions including BMO Nesbitt Burns, RBC Dominion Securities, Scotia Capital, Stifel Nicolaus Canada and Ventum Financial also played key roles. The public offering was facilitated by a shelf registration statement filed with the Securities and Exchange Commission on 14 April 2025, which became effective on 7 May 2025. The Canadian prospectus supplement was filed in all provinces and territories excluding Québec, based on the final base shelf prospectus dated 21 June 2024. Last year, in May, i-80 Gold closed its bought deal public offering, raising around C$115m ($83.8m). "i-80 Gold to raise $184m for Nevada development" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
