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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Cenovus Energy Inc.    CVE   CA15135U1093

CENOVUS ENERGY INC.

(CVE)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 06/04 04:20:33 pm
6.5 CAD   +0.46%
05/20Canada recommends masks, says emergency loans have no cap but many limits
RE
05/19TSX rises 1.68% to 14,885.48
RE
05/14CANADA STOCKS - TSX rises 0.04% to 14,509.66
RE
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Canada recommends masks, says emergency loans have no cap but many limits

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05/20/2020 | 12:14pm EDT

(Adds recommendation to wear masks, daily update on COVID-19 numbers)

By Steve Scherer

OTTAWA, May 20 (Reuters) - There will be no cap on the size of Canada's emergency loans to large companies harmed by the coronavirus pandemic but there will be multiple restrictions, the government said on Wednesday, as it recommended wearing masks in public for the first time.

"We are not offering companies a bailout," Prime Minister Justin Trudeau said of the loan facility during his daily news conference. The aim is to help them "weather this storm", Trudeau said.

Also on Wednesday, medical officials urged Canadians to wear non-medical masks.

"In situations where you cannot physically distance to 2 meters (6 ft), people are encouraged to wear masks," said Trudeau, who later donned one when he entered parliament.

For a second consecutive day, Canada's coronavirus deaths rose less than 1% from the previous day, official data showed.

The so-called Large Employer Emergency Financing Facility https://www.cdev.gc.ca/leeff-factsheet (LEEFF) is accepting applications as of Wednesday from all companies, except those in finance, with an annual revenue of C$300 million ($216 million) or more that are seeking financing of at least C$60 million.

Among the LEEFF restrictions is that publicly traded companies issue warrants that provide the option to purchase equity or receive cash equivalents, Finance Minister Bill Morneau told reporters, to allow the state to "share in any upside borrowers see in the recovery to come."

Public health limitations aimed at slowing the pandemic have clobbered companies in Canada and worldwide.

Air Canada said last week it was cutting its workforce by up to 60%. Canada's oil industry is facing its worst crisis in 40 years.

A spokeswoman for Canada's No. 2 oil producer Suncor Energy said the company had managed its business "so as not to have to rely on these sorts of programs at this time." ($1 = 1.3879 Canadian dollars)

(Reporting by Steve Scherer; Editing by Will Dunham and Marguerita Choy)

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA 5.72% 19.42 Delayed Quote.-59.97%
CENOVUS ENERGY INC. 0.46% 6.5 Delayed Quote.-50.76%
LONDON BRENT OIL 5.17% 41.92 Delayed Quote.-40.24%
WTI 4.82% 38.895 Delayed Quote.-39.82%
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Latest news on CENOVUS ENERGY INC.
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Financials
Sales 2020 10 774 M 8 028 M 8 028 M
Net income 2020 -2 616 M -1 950 M -1 950 M
Net Debt 2020 8 764 M 6 531 M 6 531 M
P/E ratio 2020 -2,76x
Yield 2020 0,94%
Capitalization 7 988 M 5 907 M 5 952 M
EV / Sales 2019
EV / Sales 2020 1,55x
Nbr of Employees 2 361
Free-Float 82,9%
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Cenovus Energy Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends CENOVUS ENERGY INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 6,12 CAD
Last Close Price 6,50 CAD
Spread / Highest target 69,2%
Spread / Average Target -5,86%
Spread / Lowest Target -58,5%
EPS Revisions
Managers
NameTitle
Alexander J. Pourbaix President, CEO & Non-Independent Director
Keith A. J. MacPhail Chairman
Jonathan M. McKenzie Chief Financial Officer & Executive Vice President
Harbir Singh Chhina Chief Technology Officer & Executive VP
Steven F. Leer Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CENOVUS ENERGY INC.-50.76%5 907
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PETROCHINA COMPANY LIMITED-29.92%105 845
TOTAL S.A.-26.60%105 268
GAZPROM-21.43%68 629