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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Natural Resources Limited    CNQ   CA1363851017

CANADIAN NATURAL RESOURCES LIMITED

(CNQ)
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TSX sustains six-week high as gold miners gain

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02/18/2016 | 04:37pm EDT
A man walks past an old Toronto Stock Exchange sign in Toronto

TORONTO (Reuters) - Canada's main stock index gained for a fourth straight session on Thursday, sustaining a six-week high, as gold miners rose with bullion and consumer and telecom stocks also rose, though energy shares weighed as crude oil stockpiles increased.

Canadian Tire Corp (>> Canadian Tire Corporation Limited) was one of the most influential movers on the index, advancing 7.8 percent to C$125.63 after its earnings beat expectations despite a slip in revenue.

The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended up 64.2 points, or 0.5 percent, at 12,931.36. The rise was much less dramatic than those of the prior three days, but the market outperformed Wall Street, which posted small losses. [.N]

The gains barely extended the index's Wednesday push to its highest level since Jan. 5, near the start of a sharp fall.

"The stock market was sold off to an irrational level based upon no real fundamental news," said Barry Schwartz, portfolio manager at Baskin Financial Services. "Value always surfaces."

He said investors have been calmed by recent central banks efforts and anticipate major stimulative actions from the federal government.

"No one wants to miss out on a rally after the TSX has dropped 11 percent in 2015," Schwartz said.

The materials group, which includes precious and base metals miners and fertilizer companies, added 3.8 percent.

Gold prices rose more than 2 percent, helping Barrick Gold Corp (>> Barrick Gold Corp.) jump 6.8 percent to C$17.36 and Goldcorp Inc (>> Goldcorp Inc.) gain 6.2 percent to C$21.68. [GOL/]

The consumer groups were higher, with staples up 1.3 percent and discretionary gaining 0.6 percent, while telecom stocks jumped 1.5 percent.

The country's largest wireless provider, Rogers Communications Inc (>> Rogers Communications Inc.), rose 2.4 percent to C$49.89.

The energy group fell 1.4 percent, as U.S. oil settled barely higher and Brent fell after data showed U.S. crude inventories rose to record highs, overshadowing plans by oil major producers to freeze production. [O/R]

Canadian Natural Resources (>> Canadian Natural Resources Limited) declined 2.3 percent to C$29.11 and Enbridge Inc (>> Enbridge Inc) fell 3.2 percent to C$44.05.

Seven of the index's 10 main groups were in negative territory, with advancers outnumbering decliners by a 3-to-2 ratio.

First Quantum Minerals Ltd (>> First Quantum Minerals Limited) slumped 11.2 percent to C$4.36 after providing 2016-2018 guidance on Wednesday.

(Reporting by Alastair Sharp; Editing by W Simon and Leslie Adler)

By Alastair Sharp

Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORPORATION 0.40% 22.58 Delayed Quote.21.43%
CANADIAN NATURAL RESOURCES LIMITED -0.60% 33.19 Delayed Quote.0.39%
CANADIAN TIRE CORPORATION, LIMITED 0.19% 144.29 Delayed Quote.0.89%
ENBRIDGE INC. 0.83% 47.36 Delayed Quote.10.75%
FIRST QUANTUM MINERALS -0.18% 11.08 Delayed Quote.0.54%
GOLD -0.13% 1490.893 Delayed Quote.16.43%
GOLDCORP INC. 0.00%End-of-day quote.6.21%
ROGERS COMMUNICATIONS INC. 0.18% 65.28 Delayed Quote.-6.62%
S&P/TSX COMPOSITE INDEX -0.30% 16377.12 Delayed Quote.14.61%
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Financials (CAD)
Sales 2019 22 959 M
EBIT 2019 6 073 M
Net income 2019 5 522 M
Debt 2019 21 008 M
Yield 2019 4,43%
P/E ratio 2019 7,18x
P/E ratio 2020 12,3x
EV / Sales2019 2,63x
EV / Sales2020 2,45x
Capitalization 39 447 M
Chart CANADIAN NATURAL RESOURCES LIMITED
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Technical analysis trends CANADIAN NATURAL RESOURCES
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 44,50  CAD
Last Close Price 33,19  CAD
Spread / Highest target 65,7%
Spread / Average Target 34,1%
Spread / Lowest Target -12,6%
EPS Revisions
Managers
NameTitle
Tim Shawn McKay President, Chief Operating Officer & Director
Norman Murray Edwards Executive Chairman
Mark A. Stainthorpe Chief Financial Officer & Senior VP-Finance
Stephen C. Suche Vice President-Information & Corporate Services
Joy P. Romero Vice President-Technology & Innovation
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