Breadcrumb Trail Links
News Investor
For the day, there were 179 gainers versus 46 losers
Article content
The S&P/TSX composite index is riding the coattails of investors who are now betting the United States Federal Reserve won’t raise rates when it meets later this week.
On Oct. 10, the TSX jumped 1.33 per cent to close at 19,501.20, with most of the main sectors making gains the day after Canadian markets took a break for Thanksgiving.
Article content
The energy sector rose the most, gaining 3.19 per cent, while materials rose 2.18 per cent, utilities gained 1.8 per cent and financials closed 0.77 per cent higher. For the day, there were 179 gainers versus 46 losers.
Advertisement 2
Article content
Here are the top three performers on the TSX for Oct. 10:
Lithium Americas Argentina Corp.
One-day change: 15.41 per centYear-to-date change: 23.05 per cent
Investors in Lithium Americas Argentina, a resource company focused on producing the precious metal critical to the electric-vehicle supply chain, continued to push the stock higher on their third day of trading.
The Vancouver-based company was recently spun off from Lithium Americas Corp. and both stocks began trading independently on the Toronto Stock Exchange on Oct. 4. The stocks also trade on the New York Stock Exchange.
On Oct. 5, Bank of Nova Scotia began covering Lithium Argentina and gave it a price target of $10.
Analysts currently have 15 buys, three holds and no sells on the stock, and an average 12-month price target of $38.01, according to Bloomberg.
Lithium Americas Argentina closed Oct. 10 at $10.41.
One-day change: 7.11 per centYear-to-date change: -18.27 per cent
Shares of oil and natural gas producer Vermilion Energy Inc. posted their third consecutive day of gains, and closed up the most since September 2022.
Investor
Article content
Advertisement 3
Article content
ATB Capital Markets Inc. maintained its outperform call on the stock on Oct. 10. In an earnings preview note, analyst Amir Arif said ATB believes Vermilion is poised to benefit from forecasted gains in European gas as the continent enters the winter heating season.
Arif also cited the possibility of a “meaningful increase in share buybacks” and a possible 20 to 25 per cent increase in dividends.
Still, the stock is on pace for its worst year since 2020, when it fell 73.25 per cent.
Analysts currently have seven buys, eight holds and no sells on the stock, and an average 12-month price target of $25.43, according to Bloomberg.
Vermilion closed Oct. 10 at $19.59.
One-day change: 6.16 per centYear-to-date change: -6.05 per cent
Bombardier has had a tough stretch in the markets, but analysts see things looking up for the private jet maker.
Shares of the company have pulled back over the last five-and-a-half months, noted Konark Gupta, an analyst with Scotiabank Global Equity Research, due to concerns about the macroeconomic picture and rising inventories of pre-owned jets.
Advertisement 4
Article content
But Gupta said the latter worry appeared to be overdone, and that the stock’s recent 30 per cent drop “makes BBD (Bombardier) the most appealing stock in our coverage, in terms of upside potential.” In his Sept. 12 note, he also noted the company “appears on track to achieve or exceed its recently raised 2025 goals.”
Scotiabank has a one-year price target of $84 for the company.
Matthew Geudtner of Bloomberg Intelligence recently noted that “improving credit quality” could result in a hike to the Montreal-based manufacturer’s credit rating.
Related Stories
The week’s top 3 winners and biggest losers on TSX
Thursday’s top 3 performers on the TSX
Wednesday’s top 3 performers on the TSX
Analysts currently have nine buys, four holds and two sells on the stock, and an average 12-month price target of $79.67, according to Bloomberg.
Bombardier closed Oct. 10 at $49.11.
• Email: gmvsuhanic@postmedia.com
Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.
Article content
Share this article in your social network
Comments
Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.