top of page
  • Writer's pictureLucas Friesen

Market Summary: February 20, 2024

The TSX dropped 38.08 points today.


Loblaw Companies Ltd. plans to add 7,500 Canadian jobs in 2024. It plans to build 40 new stores, expand or relocate 10 stores and renovate over 700 stores. Market cap: $43.15B.


GFL Environmental Inc. has $19.87B in assets and liabilities. It earned $32.2M on revenue of $7.51B in 2023. It lost $311.1M on revenue of $6.76B in 2022. It has $135.7M in cash. The company expects 2024 revenue of approximately $8B. Market cap: $17.7B.


iA Financial Corp. has $93.84B in assets and liabilities. It earned $789M on insurance revenue of $5.74B in 2023. It earned $334M on insurance revenue of $5.13B in 2022. It has $1.37B in cash and short-term investments. Market cap: $9.3B.


First Quantum Minerals Ltd. has $23.75B (U.S.) in assets and liabilities. It lost $1.24B (U.S.) on sales revenue of $6.45B (U.S.) in 2023. It earned $1.14B (U.S.) on sales revenue of $7.62B (U.S.) in 2022. On its balance sheet, it had $900M (U.S.) in impairment and related charges in 2023, compared with nil in this category for 2022. It also had $142M (U.S.) in other expenses in 2023, compared with $203M (U.S.) in other income in 2022. It has $959M (U.S.) in cash, equivalents and bank overdrafts. These results follow a string of bad news releases for the company in Q4 2023, which included a boat blockade at its Cobre Panama mine, two deaths at its Kansanshi operation and the suspension of commercial production at Cobre. Market cap: $8.05B.


Gibson Energy Inc. has $4.94B in assets and liabilities. It earned $214.21M on revenue of $11.01B in 2023. It earned $223.24M on revenue of $11.03B in 2022. It has $143.75M in cash and equivalents. The company’s CEO, Steve Spaulding, has announced his retirement. Market cap: $3.37B.


SSR Mining Inc. and Turkish authorities have suspended search and rescue activities at the Copler mine, which suffered a slip on February 13, 2024. SSR and the authorities will now focus on stabilizing the heap leach area. Market cap: $1.26B.


Calibre Mining Corp. has $819.57M (U.S.) in assets and liabilities. It earned $85.02M (U.S.) on revenue of $561.7M (U.S.) in 2023. It earned $43.34M (U.S.) on revenue of $408.61M (U.S.) in 2022. It has $86.16M (U.S.) in cash and equivalents. It expects to produce and sell between 275,000 and 300,000 ounces of gold in 2024. Market cap: $1.08B.


Osino Resources Corp. has received a superior offer for its acquisition. Previously, the company had received an offer from Dundee Precious Metals Inc. to acquire all Osino shares at $0.775 per share and 0.0801 of a Dundee share for each Osino share. Now, a “foreign-based mining company” has offered to acquire all Osino shares at $1.90 per share. Osino market cap: $305.85M.


Lucara Diamond Corp. has $575.8M (U.S.) in assets and liabilities. It lost $20.19M (U.S.) on revenue of $177.37M (U.S.) in 2023. It earned $40.43M (U.S.) on revenue of $212.93M (U.S.) in 2022. Lucara has $13.33M (U.S.) in cash and equivalents. The company expects diamond revenue to be between $220M (U.S.) and $250M (U.S.) in 2024. Market cap: $174.06M.


In the U.S., over the long weekend, Capital One Financial Corp. agreed to acquire Discover Financial Services for over $35B (U.S.) in an all-stock deal. Discover shareholders will receive 1.0192 Capital One shares for each Discover share held. Capital One market cap: $52.26B (U.S.). Discover Financial Services market cap: $27.63B (U.S.).

6 views0 comments

Recent Posts

See All

Comments


bottom of page