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    MEG   CA5527041084

MEG ENERGY CORP.

(MEG)
  Report
Delayed Toronto Stock Exchange  -  04:15 2022-07-06 pm EDT
15.77 CAD   -4.77%
07/06WTI Crude Oil Falls to a Three-Month Low on Recession Worries
MT
07/06Oil Pushes Back Above US$100 Following a Drubbing as Focus Returns to Supply Concerns
MT
07/05WTI Crude Oil Plunges 8.2% on Recession Worries; Dollar Rises to a 20-Year High on Flight to Safety
MT
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Toronto index rises as energy, cyclical stocks gain

05/24/2022 | 10:02am EDT

May 24 (Reuters) - Canada's main stock index rose on Tuesday as energy and cyclical shares gained after investors returned from a long weekend, although losses in U.S. equities kept sentiment in check.

At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 44.19 points, or 0.22%, at 20,241.8, and could rise for a third straight session, if gains hold.

The energy sector climbed 2.4% with oil producers Whitecap Resources and MEG Energy, up nearly 3%, the largest percentage gainers on the TSX, while the consumer staples advanced 1.0%.

The financials sector gained 0.5%, ahead of earnings from Canada's major lenders with Bank of Nova Scotia and Bank of Montreal reporting results on Wednesday.

"We had last lockdowns coming off over the course of the quarter in Canada, so what does this mean for dividends and loan lots? So there's going to be quite a bit to digest in the earnings reports," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Canada's top six banks are expected to post an average 12% drop in second-quarter earnings sequentially, as increased expenses and loan-loss reserves and lower investment banking revenues outweigh strong loan growth and margin expansion from rising interest rates.

The materials sector, which includes precious and base metals' miners and fertilizer companies, added 0.4% as bullion prices strengthened.

The benchmark index, down 4.8% so far this year, has outperformed its North American counterparts, as resilience in commodities has helped it cushion the impact of the broader risk-off sentiment.

On the economic front, domestic factory sales most likely rose 1.6% in April from March, while wholesale trade most likely edged up 0.2% in April from March, Statistics Canada said.

(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF MONTREAL 0.66% 124.43 Delayed Quote.-8.64%
LONDON BRENT OIL 1.41% 101.68 Delayed Quote.46.07%
MEG ENERGY CORP. -4.77% 15.77 Delayed Quote.34.79%
WHITECAP RESOURCES INC. -3.86% 8.21 Delayed Quote.9.61%
WTI 1.00% 99.476 Delayed Quote.46.49%
All news about MEG ENERGY CORP.
07/06WTI Crude Oil Falls to a Three-Month Low on Recession Worries
MT
07/06Oil Pushes Back Above US$100 Following a Drubbing as Focus Returns to Supply Concerns
MT
07/05WTI Crude Oil Plunges 8.2% on Recession Worries; Dollar Rises to a 20-Year High on Flig..
MT
07/05August WTI Crude Oil Closes Down US$8.93; Settles at US$99.50 per Barrel
MT
07/05Oil Mixed as Norwegian Strike Cuts Supply; Dollar Rises to a 20-Year High
MT
07/05CRUDE BRIEF : Comes Amid Multiple Reports Citing JPMorgan Saying Oil Could Hit US$380 if R..
MT
07/05CRUDE BRIEF : Brent Down 1.35% at Near US$112; NY Crude Down 0.2% at Near US$108.20
MT
07/04Oil Rises as Libya Supplies Remain Curtailed While Slowing Demand Watched
MT
07/04MEG Energy Announces Changes to Board of Directors
AQ
07/04MEG Energy Corp. Announces Executive Changes
CI
More news
Analyst Recommendations on MEG ENERGY CORP.
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Financials
Sales 2022 6 405 M 4 903 M 4 903 M
Net income 2022 1 479 M 1 132 M 1 132 M
Net Debt 2022 838 M 641 M 641 M
P/E ratio 2022 3,47x
Yield 2022 -
Capitalization 4 910 M 3 758 M 3 758 M
EV / Sales 2022 0,90x
EV / Sales 2023 0,91x
Nbr of Employees 413
Free-Float 99,5%
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Technical analysis trends MEG ENERGY CORP.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 15,77 CAD
Average target price 25,96 CAD
Spread / Average Target 64,6%
EPS Revisions
Managers and Directors
Derek Watson Evans President, Chief Executive Officer & Director
Eric L. Toews Chief Financial Officer
Ian Donald Bruce Chairman
Chi-Tak Yee Chief Technology Officer
Darlene M. Gates Chief Operating Officer
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