Toronto Star ePaper

Winners and Losers:

Stock surges and setbacks for the week ending Jan. 14. Compiled by freelance contributor Chen Liu

Revenue boosts stock at Aritzia while uranium prices drive Cameco shares down.

WINNERS Aritzia Inc. (ATZ.TO)

Shares of Aritzia increased roughly 19 per cent on Thursday after the company released its third quarter fiscal 2022 results. The company reported a 63 per cent increase in revenues to $453 million, from $278 million the prior year. Net income more than doubled to $65 million, from $31 million in 2020, driven by the growth in the top line. Aritzia designs, and sells apparels and accessories for women and is based in Vancouver, B.C. Its brands include Wilfred, Babaton and TNA.

Cenovus Energy Inc. (CVE.TO)

The price of West Texas Intermediate, an oil benchmark, increased from $78.23 on Monday to $81.71 on Thursday. The increase was enough to boost the share price of Cenovus Energy roughly four per cent by end of day Thursday. Cenovus develops, produces and markets crude oil, natural gas liquids and natural gas. In its third quarter fiscal 2021 results, the company reported a surge in revenues to $12.7 billion, from $3.7 billion in 2020. Net income for the quarter increased to $551 million, up from a $194-million net loss the prior year.

Velan Inc. (VLN.TO)

Velan designs, manufactures, and markets industrial valves around the world. The sectors it serves include nuclear power, oil and gas, chemical and mining. In its third quarter fiscal 2021 results, the company reported an increase in revenues to $110 million (U.S.), from $71 million the year prior. Despite the growth in the top line, net income more than halved to $4.2 million, from $9.4 million in 2020, driven by a $7-million increase in administration costs. Shareholders seemed to be unperturbed, as suggested by the roughly four per cent increase in the stock price by end of day Thursday.

LOSERS Cameco Corporation (CCO.TO)

Shares of Cameco decreased roughly four per cent by end of day Friday as uranium spot prices are trending downward, decreasing from $45.75 (U.S.) per pound on Nov. 30 to $42.05 per pound on Dec. 31. Cameco produces and sells uranium, and is headquartered in Saskatoon, Sask. In its third quarter fiscal 2021 results, revenues decreased slightly to $361 million (CAD), from $379 million the prior year. The company reported a net loss of $72 million, up from a loss of $61 million in 2020, driven by a $16 million loss on derivatives, down from a $21 million gain the prior year.

Tilray Brands, Inc. (TLRY.TO)

Shares of Tilray popped up on Monday after its earnings release then declined throughout the week. Tilray researches, cultivates, produces, markets and distributes cannabis products. In its second quarter fiscal 2022 results, the company reported revenues of $155 million, up from $129 million. Net income for the quarter increased to $6 million, from an $89 million loss the prior year, driven by $65 million in nonoperating income. Despite the strong quarter, shares of Tilray closed four per cent lower by end of day Thursday.

OrganiGram Holdings Inc. (OGI.TO)

Organigram produces and sells cannabis and cannabis-derived products, with its adult-use recreational segment accounting for the majority of its revenues. In its first quarter fiscal 2022 results released on Tuesday, the company reported net revenues of $30 million (CAD), up from $19 million the prior year. The company’s net loss improved to $1 million, from a $34-million net loss in 2020. The improvement in its bottom line was not enough to impress shareholders, however, who pushed the share price down almost three per cent by end of day Thursday.

BUSINESS

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2022-01-17T08:00:00.0000000Z

2022-01-17T08:00:00.0000000Z

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