Latest news with #RBCDominionSecurities
Al Jazeera
3 days ago
- Business
- Al Jazeera
China slaps temporary duties on Canadian canola in ‘gut punch' move
China has announced preliminary anti-dumping duties on Canadian canola imports, a new escalation in the yearlong trade dispute that began with Ottawa's imposition of tariffs on Chinese electric vehicle imports last August. The provisional rate will be set at 75.8 percent, effective from Thursday, the Ministry of Commerce said in a statement on Tuesday. Intercontinetal Exchange (ICE) November canola futures RSX5, the global benchmark for canola trading, fell 6.5 percent to a four-month low after the announcement. 'This really came as a surprise and a shock,' said trader Tony Tryhuk of RBC Dominion Securities. China, the world's largest importer of canola – also known as rapeseed – sources nearly all of its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained. 'This is huge. Who will pay a 75 percent deposit to bring Canadian canola to China? It is like telling Canada that we don't need your canola, thank you very much,' said one Singapore-based oilseed trader. China's Ministry of Commerce said on Tuesday that an anti-dumping probe launched in September 2024 had found that Canada's agricultural sector – particularly the canola industry – had benefitted from 'substantial' government subsidies and preferential policies. China has until September, when the investigation formally ends, to make a final decision on the duties, though it has the option of extending that deadline by six months. A final ruling could result in a different rate, or overturn Tuesday's decision. The decision marks a shift from the conciliatory tone struck in June when China Premier Li Qiang said there were no deep-seated conflicts of interest between the countries during a phone call with Canadian Prime Minister Mark Carney. 'This move … will put additional pressure on Canada's government to sort through trade frictions with China,' said Trivium China agriculture analyst Even Rogers Pay. Canada's trade, agriculture and the prime minister's office did not immediately respond to request for comment. The Canadian embassy in Beijing did not respond to Reuters' request for comment. China had already imposed tariffs on canola oil and meal in March. Canada is now in a trade conflict with the world's two largest economies, as it also faces tariffs on some goods from the United States. Separately, China also launched an anti-dumping investigation into Canadian pea starch and imposed provisional duties on imports of halogenated butyl rubber, according to ministry statements. 'Extend the losses' Replacing millions of tonnes of Canadian canola is likely to be difficult at short notice, say analysts. China primarily uses imported canola to make animal feed for its aquaculture sector. A separate duty on Canadian canola meal imports in March has already put these supplies at risk. The move provides an opportunity for Australia, which looks set to regain access to the Chinese market with a few test cargoes this year after a years-long freeze in the trade, Pay said. Australia, the second-largest canola exporter, has been shut out of the Chinese market since 2020 due mainly to Chinese rules to stop the spread of fungal plant disease called 'blackleg'. However, even if Australian imports increase, 'fully replacing Canadian canola will be very difficult unless import demand drops sharply,' said Donatas Jankauskas, an analyst with commodity data firm CM Navigator. Commodity funds have a substantial long position in ICE canola futures, traders said, which should add fuel to the selloff fire. 'This will help accelerate their exit of that long and could really extend the losses,' said Tryhuk. Another trader said there was already downward pressure coming into canola prices as Canada's crop is widely believed to be bigger than many previously forecast due to good weather. 'We're just realising we've got a better crop that's about to come off,' said the trader. 'This is a gut punch no one was expecting.' Ventum Financial broker David Derwin said some traders do not know how to take the Chinese move yet, since it is not a final rule. 'Is it a negotiating tactic? Or does China put it in and that's that?' Derwin asked.
Yahoo
29-07-2025
- Business
- Yahoo
Air Canada shares slide over 10% as earnings miss, U.S. travel demand stays weak
Shares of Air Canada ( fell over 10 per cent on Tuesday, after the airline's quarterly earnings missed expectations. 'This quarter was not business as usual,' said Mark Galardo, executive vice-president and chief commercial officer. 'We faced significant economic and geopolitical uncertainty,' Galardo added, referencing 'an evolving geopolitical landscape affecting the Middle East and India," increased competition in China, currency fluctuations and weakened demand for transborder travel. The airline continues to see lower demand for trips to the U.S., with revenue dropping 11 per cent on eight per cent less capacity, says president and CEO Michael Rousseau. According to Statistics Canada, Canadian return trips by air from the U.S. declined throughout the first five months of 2025, dropping 14 per cent year-over-year in April and 24.2 per cent in May. On an adjusted basis, Air Canada earned a net income of $207 million in its second quarter, compared to $369 million in the same period last year. Its adjusted earnings are 60 cents per diluted share, down from 98 cents per share last year. In a note, RBC Dominion Securities analyst James McGarragle took a neutral view on the results, saying that the broader narrative of demand recovery remains intact. Meanwhile, National Bank analyst Cameron Doerksen says he's cautious of the near-term risk of a potential strike in mid-to-late August. As of July 28, Air Canada flight attendants began voting on whether to give a strike mandate to the Air Canada component of the Canadian Union of Public Employees, which represents more than 10,000 flight attendants. The vote runs until Aug. 5. 'Such a vote is a normal step in the negotiation process and does not mean any disruption will take place,' Rousseau said, adding that the company remains 'focused on what we can control,' such as managing costs, and supply and demand. As at 11:25 a.m. ET Tuesday, Air Canada's stock was trading on the Toronto Stock Exchange at $18.99 per share, down $3.05 or 13.84 per cent.
Yahoo
23-06-2025
- Business
- Yahoo
Arizona Sonoran Copper finalises C$51.75m public offering
Arizona Sonoran Copper Company has successfully closed a public offering, raising C$51.75m ($37.6m) through the issuance of 25,875,000 common shares. This includes 3.3 million shares from the full exercise of the over-allotment option by underwriters. Priced at C$2 per share, the offering is a strategic move to secure financial stability for the company's upcoming projects. The offering was conducted under an underwriting agreement dated 6 June 2025, with a syndicate led by Scotia Capital acting as the sole bookrunner. The consortium also included Canaccord Genuity, Haywood Securities, Paradigm Capital, Raymond James, RBC Dominion Securities and Stifel Nicolaus Canada. The net proceeds from the offering are earmarked for several key initiatives. They will primarily enable the company to exercise buy-down rights on net smelter return (NSR) royalties for the Cactus Project, fund potential land acquisitions, complete essential technical and engineering studies, and provide working capital and general corporate resources. The company expects the newly acquired funds to sustain operations up to the final investment decision (FID) for the Cactus Project, which is expected in the fourth quarter of 2026 (Q4 2026). The common shares were made available through a short form prospectus in Canada (excluding Quebec) and were offered in the US and other jurisdictions on a private placement basis, in compliance with all applicable laws. Final approval of the offering from the Toronto Stock Exchange is pending. In January this year, Arizona Sonoran Copper announced a strategic private placement worth C$19.9m with Hudbay Minerals, which will see Hudbay increase its stake in Arizona Sonoran by subscribing for 11.8 million common shares at C$1.68 each. "Arizona Sonoran Copper finalises C$51.75m public offering" 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 al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Globe and Mail
17-06-2025
- Business
- Globe and Mail
CANSO CREDIT INCOME FUND - RECIRCULATION OF CLASS A UNITS (TSX Ticker: PBY.UN)
TORONTO, June 17, 2025 /CNW/ - Lysander Funds Limited announces that Canso Credit Income Fund (the "Fund") intends to recirculate Class A units of the Fund (TSX ticker: tendered for redemption under the Fund's annual redemption privilege. This recirculation is in accordance with the Fund's declaration of trust and a recirculation agreement between the Fund and RBC Dominion Securities Inc. ("RBC DS"). Pursuant to the recirculation agreement, RBC DS shall use commercially reasonable efforts to find purchasers for 96,667 Class A units of the Fund tendered for redemption on July 3, 2025, until 4:00 p.m. EST.
Yahoo
15-06-2025
- Business
- Yahoo
The week in stocks: Dollarama still cashing in and silver gets buffed up
Every weekend, the Financial Post breaks down the most interesting developments in this week's world of investing, from top performers to surprising analyst calls and stocks you should have on your radar. Here's this week's edition. Shares of Dollarama Inc. (DOL) have been unstoppable since the early days of the pandemic when inflation took off and price-shocked consumers turned to dollar stores for better prices on everyday household items. Since mid-March 2020, when COVID hit, the stock is up 438 per cent, including a 10 per cent leap on Wednesday when the discount retailer released earnings that beat analysts' estimates. The report showed that consumers have continued to flock to Dollarama stores despite inflation slowing. Earnings particulars included a 27 per cent increase in profit and an 8.2 per cent increase in sales in the first quarter. Still, the company's chief financial officer said the Canadian consumer appears 'fragile' and that could pose a challenge for the Montreal-based chain. The question now: Where does Dollarama go from here? 'We believe DOL (Dollarama) has a clear pathway to deliver value for shareholders in the short, medium and long term,' Irene Nattel, an analyst with RBC Dominion Securities, said in a note post-earnings. She cited tailwinds for the stock, including a target to increase the number of stores in Canada to 2,200 by 2034, 'long-term growth opportunity in Latin America' and an agreement to purchase Australia-based discount chain The Reject Shop. 'Guidance points to another solid year of performance tempered by caution around (the) evolution of consumer spending and probable weakening economic backdrop as tariffs take a toll on economic activity,' Nattel said. Analysts who follow the stock raised their price targets following the company's earnings release and Nattel has a target price of $207, up from $198 at the end of May, according to Bloomberg. Dollarama closed Friday at $193.74. Silver has caught the eye of analysts at National Bank of Canada. 'We have an optimistic outlook on the price of silver, which supports, but isn't the only reason, we are also optimistic about silver-focused companies,' analyst Alex Terentiew and associate Marc Ferrari said in a note. Silver hasn't posted the gains gold has since investors flocked to bullion to offset the potential inflationary effects of Donald Trump's trade war. Still, silver is up 12 per cent versus 24 per cent for gold since Trump's election win. National Bank's research team said it has expanded the number of 'silver focused' stocks it tracks, adding Coeur Mining Inc. (CDE) and Endeavour Silver Corp. (EDR) to their coverage, which also includes First Majestic Silver Corp. (AG), Hecla Mining Co. (HL) and Highlander Silver Corp. (HSLV). Terentiew and Ferrari see Endeavour 'as the most undervalued and highest growth silver producer in our coverage, although it's also the company with the most to prove as it ramps up production at its newest mine, Terronera (in Mexico), and also integrates the newly acquired Kolpa mine (in Peru) into its portfolio.' Their target price for Endeavour is $9. The stock closed Friday at $6.55. Several oil companies appear to have plans for share buybacks this year, according to RBC Capital Markets. Highlights from the RBC Global Power, Energy and Infrastructure Conference earlier this month pointed to share buybacks coming down the pipeline from a slew of major oilpatch companies. This includes Suncor Energy Inc. (SU), which is on tap to distribute nearly 100 per cent of its excess free funds flow (post dividends) to share repurchases,' Greg Pardy, head of global energy research at RBC Dominion Securities, said in a note following the conference. Other companies where buybacks or dividend increases are expected include Vermilion Energy Inc. (VET), Athabasca Oil Corp. (ATH) and Canadian Natural Resources Ltd. (CNQ). In CNRL's case, the company said it will direct 60 per cent of free cash flow (minus capital and dividends) to buybacks and 40 per cent to reduce net debt. All these stocks have an outperform rating from Pardy and crew. Here are their price targets: Suncor: $65. Suncor closed Friday at $55.67. Vermilion: $14. Vermilion closed Friday at $11.19. Athabasca: $6.50. Athbasca closed Friday at $6.08. CNRL: $64. CNRL closed Friday at $45.96. Donald Trump has been in the driver's seat as far as markets are concerned since his inauguration on Jan. 20. Some stocks, such as Elon Musk's Telsa Inc., have been on a roller-coaster the entire time, subject to the president's whims. With his term nearing the five-month mark, the Financial Post started to wonder which large Canadian companies have come out on top in the early stages of Trump's second stint in the Oval Office. We screened for publicly listed companies on the S&P/TSX Composite index with a market capitalization of at least $20 billion and here's what we got for the Top 20 based on price return from Jan. 20 to June 11. For reference, the S&P/TSX composite index has returned 5.3 per cent during the same period. Wheaton Precious Metals Corp. (WPM): 43.5% Kinross Gold Corp. (K): 34.4% Dollarama Inc. (DOL): 30.9% Agnico Eagle Mines Ltd. (AEM): 29.1% George Weston Ltd. (WN): 23.5% Loblaw Cos. Ltd. (L): 23.4% Franco-Nevada Corp. (FNV): 21.5% Intact Financial Corp. (IFC): 20.8 Brookfield Renewable Partners LP (BEP-U): 20.2% Power Corp. (POW): 18.9% Barrick Mining Corp. (ABX): 18.1% Cameco Corp. (CCO): 17.5% Toronto-Dominion Bank (TD): 17.5% Metro Inc. (MRU): 16.5% Fairfax Financial Holdings Ltd. (FFH): 16.4% Thomson Reuters Corp. (TRI): 13.7% GFL Environmental Inc. subordinate (GFL): 13.4% RB Global Inc. (RBA): 12.1% Constellation Software Inc. (CSU): 12.1% Hydro One Ltd. (H): 11.6% The week in stocks: Lululemon gets stretched and is Tesla a TACO trade candidate? Being an armchair hockey critic is like judging investment performance from the sidelines • Email: gmvsuhanic@ Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary, straight to your inbox. 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
