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  • Writer's pictureLucas Friesen

Market Summary: February 23, 2024

Happy Friday. Here is your afternoon market summary. The TSX rose 95.07 points today.


CGI Inc. has agreed to acquire for cancellation 1.67 million Class A shares from Serge Godin, the company’s founder and executive chairman. The company will acquire the shares at $149.26 per share for a total cost of $250M. After the transaction, Mr. Godin will still hold 10.5% of the company’s shares and 53% of the total voting rights. CGI market cap: $31.75B.


Teck Resources Ltd. has $56.19B in assets and liabilities. It earned $2.3B on revenue of $15.01B in 2023. It earned $3.29B on revenue of $17.31B in 2022. It has $744M in cash and equivalents. Market cap: $27.7B (dual-class structure).


The word Pembina, a company logo, black and red and grey

Pembina Pipeline Corp. has $32.61B in assets and liabilities. It earned $1.77B on revenue of $9.12B in 2023. It earned $2.97B on revenue of $11.61B in 2022. It has $137M in short-term cash and equivalents. Market cap: $25.51B.


RB Global Inc. has $12.03B (U.S.) in assets and liabilities. It earned $206M (U.S.) on revenue of $3.67B (U.S.) in 2023. It earned $319.8M on revenue of $1.73B (U.S.) in 2022. It has $747.9M (U.S.) in cash, equivalents and restricted cash. It expects to have capital expenditures in the range of $275M (U.S.) to $325M (U.S.) in 2024. Market cap: $16.85B.


Onex Corp. has $9.02B (U.S.) in assets and liabilities. It earned $529M (U.S.) on income of $1.12B (U.S.) in 2023. It earned $235M (U.S.) on income of $442M (U.S.) in 2022. It has $265M (U.S.) in cash and equivalents. Market cap: $8B.


Lundin Gold Inc. has $1.46B (U.S.) in assets and liabilities. It earned $179.45M (U.S.) on revenue of $902.51M (U.S.) in 2023. It earned $73.55M (U.S.) on revenue of $815.66M (U.S.) in 2022. It has $268.02M (U.S.) in cash and equivalents. It expects to produce between 450,000 and 500,000 ounces of gold at FDN in 2024. Market cap: $3.88B.


TransAlta Corp. has $8.65B in assets and liabilities. It earned $796M on revenue of $3.35B in 2023. It earned $161M on revenue of $2.97B in 2022. It has $348M in cash and equivalents. Market cap: $2.9B.


CI Financial Corp. has $9.98B in assets and liabilities. It earned $6.08M on revenue of $2.74B in 2023. It earned $301.82M on revenue of $2.33B in 2022. It has $137.02M in cash and equivalents. Market cap: $2.58B.


Hudbay Minerals Inc. has $5.31B (U.S.) in assets and liabilities. It earned $69.54M (U.S.) on revenue of $1.69B (U.S.) in 2023. It earned $70.38M (U.S.) on revenue of $1.46B (U.S.) in 2022. It has $249.79M (U.S.) in cash and equivalents. It expects consolidated copper production of 156,500 tonnes in 2024. It also expects consolidated gold production of 291,000 ounces in 2024. It expects to have capital expenditures of $335M (U.S.) in 2024. Market cap: $2.52B.


Docebo Inc. has $158.37M (U.S.) in assets and liabilities. It earned $2.84M (U.S.) on revenue of $180.83M (U.S.) in 2023. It earned $7.01M (U.S.) on revenue of $142.91M (U.S.) in 2022. It has $71.95M (U.S.) in cash and equivalents. Market cap: $2.18B.


Storagevault Canada Inc. has $2.04B in assets and liabilities. It lost $1.7M on revenue of $288.72B in 2023. It lost $41.24M on revenue of $261.82B in 2022. It has $13.86M in cash and short-term deposits. Market cap: $2.02B.


In Germany, cannabis has been legalized for recreational use. On April 1, 2024, it will be legal to smoke cannabis in public spaces. The vote to legalize recreational cannabis passed by 407 votes to 226. Non-commercial members’ clubs will grow and distributed cannabis. Each club can have up to 500 members and will be available only to German residents. You can also grow up to three plants yourself.

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