Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Hut 8 Mining Corp.
  6. News
  7. Summary
    HUT   CA44812T1021

HUT 8 MINING CORP.

(HUT)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-11-29 pm EST
1.510 CAD   +1.34%
11/28Toronto Stocks Edge Lower; E3 Lithium Rises on C$27 Million Canadian Government Investment
DJ
11/28Hut 8 Mining Falls 5% as Seeks to Start Mediation With Validus Power for Dispute Over Supply to North Bay Facility
MT
11/28Hut 8 Mining Seeks Mediation with Third-Party Energy Supplier in Ontario
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies
Days
:
Hours
:
Minutes
:
Seconds

Cannabis, energy stocks drag TSX to near three-week low

08/22/2022 | 11:16am EST

Aug 22 (Reuters) - Canada's main stock index fell to a near three-week low on Monday in a broad-based selloff led by cannabis, energy and financial stocks, as investors remained nervous over the pace of rate hikes by major central banks and a potential recession.

At 10:54 a.m. ET (14:54 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 238.7 points, or 1.19%, at 19,872.68 – its lowest level since Aug. 10.

The healthcare sector, which includes weed stocks, lost 2.9, while the S&P/TSX Information Technology Index dipped 1.7%, dragged by a 5% slide in Hut 8 Mining and a 3.4% fall in Lightspeed Commerce.

"Technicians are suggesting a relatively minor correction giving back some of the gains that we've had since the June lows and then we will move onwards and potentially start another four year bull market in equity up-cycle," Robert McWhirter, president and portfolio manager at Selective Asset Management said.

"Industries that may do well during rising interest rates would likely be defensives and banks as they had end up earning larger profit margins spreads as interest rates move higher over time."

The Toronto market has rallied about 9.2% from its July trough on the back of upbeat earnings and signs of cooling inflation in the United States and Canada.

However, fears of a recession and a faster tightening in monetary policy have slipped back into the market in the wake of hawkish comments from Federal Reserve policymakers last week.

The index is still below 10.6% from its April highs.

Canadian banks are expected to post declines in profits on average, when they report third-quarter results this week, as a murky economic outlook drives up provisions for credit losses (PCL) while market turmoil pressures capital markets and wealth management results, analysts and investors said.

Canadian liquor and cannabis retailer SNDL Inc said on Monday it would buy pot products maker Valens Company Inc for about C$138 million ($106 million).

The energy sector, which accounts for 18% of the TSX's market capitalization, dropped 1.7% as crude prices dropped over 3.5% a barrel on concerns economic slowdown may dent fuel demand. (Reporting by Aniruddha Ghosh in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HUT 8 MINING CORP. 1.34% 1.51 Delayed Quote.-85.00%
LIGHTSPEED COMMERCE INC. 2.51% 20.79 Delayed Quote.-60.30%
SNDL INC. 1.98% 2.57 Delayed Quote.-56.42%
THE VALENS COMPANY INC. 8.41% 1.16 Delayed Quote.-65.59%
All news about HUT 8 MINING CORP.
11/28Toronto Stocks Edge Lower; E3 Lithium Rises on C$27 Million Canadian Government Investm..
DJ
11/28Hut 8 Mining Falls 5% as Seeks to Start Mediation With Validus Power for Dispute Over S..
MT
11/28Hut 8 Mining Seeks Mediation with Third-Party Energy Supplier in Ontario
DJ
11/28Hut 8 Mining Seeks to Start Mediation With Validus Power for Dispute Over Supply to Nor..
MT
11/28Hut 8 Mining Brief: Providing Update on North Bay Facility
MT
11/28Hut 8 provides update on North Bay Facility
PR
11/11Craig-Hallum Downgrades Hut 8 Mining to Hold From Buy, Price Target is $2
MT
11/10Transcript : Hut 8 Mining Corp., Q3 2022 Earnings Call, Nov 10, 2022
CI
11/10Hut 8 : Q3 Earnings Snapshot
AQ
11/10Hut 8 Mining Reports Q3 Revenue of C$31.7 million; Basic and Diluted Loss Per Share of ..
MT
More news
Analyst Recommendations on HUT 8 MINING CORP.
More recommendations
Financials
Sales 2022 158 M 116 M 116 M
Net income 2022 -27,8 M -20,4 M -20,4 M
Net Debt 2022 - - -
P/E ratio 2022 -5,66x
Yield 2022 -
Capitalization 292 M 215 M 215 M
Capi. / Sales 2022 1,85x
Capi. / Sales 2023 2,36x
Nbr of Employees 44
Free-Float 93,3%
Chart HUT 8 MINING CORP.
Duration : Period :
Hut 8 Mining Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HUT 8 MINING CORP.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,49 CAD
Average target price 4,25 CAD
Spread / Average Target 185%
EPS Revisions
Managers and Directors
Jaime Leverton Chief Executive Officer & Director
Shane Downey Chief Financial Officer
William Ping Tai Chairman
Jason Zaluski Head-Technology
James Beer Senior Vice President-Operations
Sector and Competitors
1st jan.Capi. (M$)
HUT 8 MINING CORP.-85.00%217
INTUIT INC.-40.05%108 491
ADYEN N.V.-36.22%47 428
FIDELITY NATIONAL INFORMATION SERVICES, INC.-39.96%38 884
WORLDLINE-5.59%13 536
ROBINHOOD MARKETS, INC.-48.25%8 149