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  • Writer's pictureLucas Friesen

Market Summary: February 27, 2024

The TSX was down 5.41 points today. Here is your market summary for Feb. 27, 2024.


Bank of Montreal has $1.32T in assets and liabilities. It earned $1.29B on revenue of $7.67B in the quarter ended Jan. 31, 2024. It earned $133M on revenue of $5.09B in the quarter ended Jan. 31, 2023. It has $74.65B in cash and equivalents. It will pay a quarterly dividend of $1.51 per share on May 28, 2024. Market cap: $88.72B.  


The logo for Scotiabank. Red lettering with a white backdrop. An S with a globe at its centre.

Bank of Nova Scotia has $1.39T in assets and liabilities. It earned $2.19B on revenue of $15.43B in the quarter ended Jan. 31, 2024. It earned $1.75B on revenue of $13.15B in the quarter ended Jan. 31, 2023. It has $9.21B in cash and equivalents. It will pay a dividend of $1.06 per share on April 26, 2024. Market cap: $80.53B.


Ovintiv Inc. has $19.98B (U.S.) in assets and liabilities. It earned $2.08B (U.S.) on revenue of $10.88B (U.S.) in 2023. It earned $3.63B (U.S.) on revenue of $12.46B (U.S.) in 2022. It has $3M (U.S.) in cash, equivalents and restricted cash. It expects to produce between 545 million and 575 million barrels of oil equivalent per day in 2024. Market cap: $16.92B.


Element Fleet Management Corp. has $16.47B in assets and liabilities. It earned $466.19M on revenue of $1.13B in 2023. It earned $542.66M on revenue of $761.57M in 2022. It has $127.77M in cash. Market cap: $8.97B.


Tricon Residential Inc. has $13.24B (U.S.) in assets and liabilities. It earned $121.82M (U.S.) on revenue from single-family rental properties of $795.31M (U.S.) in 2023. It earned $814.48M (U.S.) on revenue from single-family rental properties of $645.58M (U.S.) in 2022. It has $170.73M (U.S.) in cash. Market cap: $4.12B.


SSR Mining Inc. has $5.38B (U.S.) in assets and liabilities. It lost $120.22M (U.S.)  on revenue of $1.42B (U.S.)  in 2023. It earned $210.42M (U.S.)  on revenue of $1.14B (U.S.)  in 2022. It has $492.49M (U.S.)  in cash, equivalents and restricted cash. Market cap: $1.28B.


Sandfire Resources America Inc. has seen the Montana Supreme Court reverse its 2021 decision and has told the Montana Department of Environmental Quality to reinstate Tintina Montana Inc.’s mine operating permit for the Black Butte project. Black Butte is an underground copper mine. The Montana court granted Sandfire’s request to move forward with construction of the mine. The decision upheald the 2020 decision of the Montana Department of Environmental Quality to allow copper mining at Black Butte and overturned the district court that invalidated the permit. The CEO of Sandfire, Lincoln Greenidge, said the case was “the most reviewed and examined proposed project in the history of Montana mining. The court record stands at over 90,000 pages.” Market cap: $184.2M.


ME Therapeutics Holdings Inc. has arranged a $1.55M offering of 1.55 million units at $1 per unit. Each unit consists of one share and one warrant to purchase a share of the company at $1.50 for two years. The securities are subject to a four-month-and-one-day hold period. The company confirms that the unit price was reserved confidentially on Jan. 31, 2024. Market cap: $60.26M.


Heritage Cannabis Holdings Corp. has $55.85M in assets and liabilities. It lost $20.09M on revenue of $42.05M in 2023. It lost $24.24M on revenue of $41.99M in 2022. It has $3.92M in cash. Market cap: $5.29M.


In the U.S., the Justice Department has begun an antitrust investigation against UnitedHealth Group Inc. The Justice Department has been asking healthcare-industry representatives about relationships between UnitedHealth’s insurance unit and its Optum health-services branch. The Justice Department is already scrutinizing UnitedHealth’s planned $3.3B (U.S.) acquisition of Amedisys Inc. UnitedHealth is also facing a private antitrust suit by Emanate Health, a California hospital system. Amedisys market cap: $3.08B (U.S.). UnitedHealth market cap: $485.88B (U.S.).

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