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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Laurentian Bank of Canada    LB   CA51925D1069

LAURENTIAN BANK OF CANADA (LB)
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TSX ends lower as banks, mining stocks weigh

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12/05/2017 | 10:56pm CEST
The Toronto Stock Exchange sing is seen in Toronto

TORONTO (Reuters) - Canada's main stock index slipped on Tuesday, as banks pulled back at the end of their earnings season and one warned about mortgage originations while mining stocks also weighed with copper and gold prices hitting two-month lows.

* The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended down 53.35 points, or 0.33 percent, to 15,915.68. Seven of its 10 main groups finished lower while decliners were outnumbering advancers by almost 2-to-1.

* The heavyweight financials group slipped 0.5 percent, with Toronto-Dominion Bank (>> Toronto-Dominion Bank) off 1.3 percent at C$72.43.

* Shares in smaller lender Laurentian Bank of Canada (>> Laurentian Bank of Canada) fell 7.9 percent to C$56. The bank said in an annual report that it had identified documentation issues and client misrepresentations in some mortgages at its B2B Bank subsidiary and plans to perform an in-depth review of originations.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1 percent as miners of copper, nickel, zinc and other base metals were hit hard by falling commodity prices.

* First Quantum Minerals Ltd (>> First Quantum Minerals Limited) fell 4.5 percent to C$14.56 and Teck Resources Ltd (>> Teck Resources Ltd) lost 2.9 percent to C$28.99 as copper prices <CMCU3> fell their most in two years to hit a two-month low.

* Gold miners also fell, with Goldcorp Inc (>> Goldcorp Inc.) shedding 2.2 percent to C$15.61 and Barrick Gold Corp (>> Barrick Gold Corp) off 0.9 percent at C$17.51 as gold dropped 1 percent to a two-month low.

* Commodity prices were in part hurt by a stronger U.S. dollar on the back of a U.S. tax overhaul plan.

* Licensed marijuana producer Aphria Inc (>> Aphria Inc) jumped 16.4 percent to C$13.53 after saying it had reached a deal to supply medical cannabis to Loblaw Cos Ltd's (>> Loblaw Companies Ltd) pharmacy chain Shoppers Drug Mart.

* Bombardier Inc (>> Bombardier, Inc.) ended 1 percent higher at C$3.17 after two sources said Aeromexico has held preliminary talks to take some of its CSeries jets orders from Delta Air Lines Inc, which owns a stake in the Mexican carrier, to avoid possible U.S. trade duties levied on the planes.

* The heavyweight energy group was little changed, while Kinder Morgan Canada Ltd (>> Kinder Morgan Canada Ltd) fell 2.6 percent to C$16.61 after saying late on Monday that the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020.

(Reporting by Alastair Sharp; Editing by Meredith Mazzilli and Lisa Shumaker)

By Alastair Sharp

Stocks mentioned in the article
ChangeLast1st jan.
APHRIA INC -1.30% 19.7 End-of-day quote.-19.14%
BARRICK GOLD CORP -1.39% 13.52 Delayed Quote.-24.59%
BOMBARDIER, INC. -2.12% 4.62 Delayed Quote.52.48%
FIRST QUANTUM MINERALS 1.18% 17.18 Delayed Quote.-3.58%
GOLDCORP INC. -1.65% 13.67 Delayed Quote.-14.72%
KINDER MORGAN CANADA LTD 0.12% 16.79 Delayed Quote.-1.29%
LAURENTIAN BANK OF CANADA -0.81% 44.15 Delayed Quote.-21.90%
LOBLAW COMPANIES LTD -0.68% 68.15 Delayed Quote.-0.10%
S&P/TSX COMPOSITE INDEX 0.06% 16224.13 Delayed Quote.0.03%
TECK RESOURCES LTD 2.23% 33.08 Delayed Quote.0.64%
TORONTO-DOMINION BANK -0.10% 79.65 Delayed Quote.8.26%
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News from SeekingAlpha
09/18Buy This Canadian Bank With A 6% Yield At 52-Week Lows 
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09/04MORE ON LAURENTIAN BANK Q3 : Continues shift towards commercial loans 
09/04Laurentian Bank of Canada declares CAD 0.64 dividend 
Financials (CAD)
Sales 2018 1 053 M
EBIT 2018 407 M
Net income 2018 224 M
Debt 2018 -
Yield 2018 5,76%
P/E ratio 2018 8,42
P/E ratio 2019 7,95
Capi. / Sales 2018 1,76x
Capi. / Sales 2019 1,70x
Capitalization 1 854 M
Chart LAURENTIAN BANK OF CANADA
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Technical analysis trends LAURENTIAN BANK OF CANADA
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 47,8  CAD
Spread / Average Target 8,3%
EPS Revisions
Managers
NameTitle
François Desjardins President, Chief Executive Officer & Director
Isabelle Courville Chairman
Deborah Rose Chief Operating & Information Officer
François Laurin Chief Financial Officer & Executive Vice President
Lise Bastarache Independent Director
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