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Globe and Mail
5 days ago
- Business
- Globe and Mail
CANSO CREDIT INCOME FUND - RECIRCULATION OF CLASS A UNITS (TSX Ticker: PBY.UN)
TORONTO, June 17, 2025 /CNW/ - Lysander Funds Limited announces that Canso Credit Income Fund (the "Fund") intends to recirculate Class A units of the Fund (TSX ticker: tendered for redemption under the Fund's annual redemption privilege. This recirculation is in accordance with the Fund's declaration of trust and a recirculation agreement between the Fund and RBC Dominion Securities Inc. ("RBC DS"). Pursuant to the recirculation agreement, RBC DS shall use commercially reasonable efforts to find purchasers for 96,667 Class A units of the Fund tendered for redemption on July 3, 2025, until 4:00 p.m. EST.
Yahoo
15-06-2025
- Business
- Yahoo
The week in stocks: Dollarama still cashing in and silver gets buffed up
Every weekend, the Financial Post breaks down the most interesting developments in this week's world of investing, from top performers to surprising analyst calls and stocks you should have on your radar. Here's this week's edition. Shares of Dollarama Inc. (DOL) have been unstoppable since the early days of the pandemic when inflation took off and price-shocked consumers turned to dollar stores for better prices on everyday household items. Since mid-March 2020, when COVID hit, the stock is up 438 per cent, including a 10 per cent leap on Wednesday when the discount retailer released earnings that beat analysts' estimates. The report showed that consumers have continued to flock to Dollarama stores despite inflation slowing. Earnings particulars included a 27 per cent increase in profit and an 8.2 per cent increase in sales in the first quarter. Still, the company's chief financial officer said the Canadian consumer appears 'fragile' and that could pose a challenge for the Montreal-based chain. The question now: Where does Dollarama go from here? 'We believe DOL (Dollarama) has a clear pathway to deliver value for shareholders in the short, medium and long term,' Irene Nattel, an analyst with RBC Dominion Securities, said in a note post-earnings. She cited tailwinds for the stock, including a target to increase the number of stores in Canada to 2,200 by 2034, 'long-term growth opportunity in Latin America' and an agreement to purchase Australia-based discount chain The Reject Shop. 'Guidance points to another solid year of performance tempered by caution around (the) evolution of consumer spending and probable weakening economic backdrop as tariffs take a toll on economic activity,' Nattel said. Analysts who follow the stock raised their price targets following the company's earnings release and Nattel has a target price of $207, up from $198 at the end of May, according to Bloomberg. Dollarama closed Friday at $193.74. Silver has caught the eye of analysts at National Bank of Canada. 'We have an optimistic outlook on the price of silver, which supports, but isn't the only reason, we are also optimistic about silver-focused companies,' analyst Alex Terentiew and associate Marc Ferrari said in a note. Silver hasn't posted the gains gold has since investors flocked to bullion to offset the potential inflationary effects of Donald Trump's trade war. Still, silver is up 12 per cent versus 24 per cent for gold since Trump's election win. National Bank's research team said it has expanded the number of 'silver focused' stocks it tracks, adding Coeur Mining Inc. (CDE) and Endeavour Silver Corp. (EDR) to their coverage, which also includes First Majestic Silver Corp. (AG), Hecla Mining Co. (HL) and Highlander Silver Corp. (HSLV). Terentiew and Ferrari see Endeavour 'as the most undervalued and highest growth silver producer in our coverage, although it's also the company with the most to prove as it ramps up production at its newest mine, Terronera (in Mexico), and also integrates the newly acquired Kolpa mine (in Peru) into its portfolio.' Their target price for Endeavour is $9. The stock closed Friday at $6.55. Several oil companies appear to have plans for share buybacks this year, according to RBC Capital Markets. Highlights from the RBC Global Power, Energy and Infrastructure Conference earlier this month pointed to share buybacks coming down the pipeline from a slew of major oilpatch companies. This includes Suncor Energy Inc. (SU), which is on tap to distribute nearly 100 per cent of its excess free funds flow (post dividends) to share repurchases,' Greg Pardy, head of global energy research at RBC Dominion Securities, said in a note following the conference. Other companies where buybacks or dividend increases are expected include Vermilion Energy Inc. (VET), Athabasca Oil Corp. (ATH) and Canadian Natural Resources Ltd. (CNQ). In CNRL's case, the company said it will direct 60 per cent of free cash flow (minus capital and dividends) to buybacks and 40 per cent to reduce net debt. All these stocks have an outperform rating from Pardy and crew. Here are their price targets: Suncor: $65. Suncor closed Friday at $55.67. Vermilion: $14. Vermilion closed Friday at $11.19. Athabasca: $6.50. Athbasca closed Friday at $6.08. CNRL: $64. CNRL closed Friday at $45.96. Donald Trump has been in the driver's seat as far as markets are concerned since his inauguration on Jan. 20. Some stocks, such as Elon Musk's Telsa Inc., have been on a roller-coaster the entire time, subject to the president's whims. With his term nearing the five-month mark, the Financial Post started to wonder which large Canadian companies have come out on top in the early stages of Trump's second stint in the Oval Office. We screened for publicly listed companies on the S&P/TSX Composite index with a market capitalization of at least $20 billion and here's what we got for the Top 20 based on price return from Jan. 20 to June 11. For reference, the S&P/TSX composite index has returned 5.3 per cent during the same period. Wheaton Precious Metals Corp. (WPM): 43.5% Kinross Gold Corp. (K): 34.4% Dollarama Inc. (DOL): 30.9% Agnico Eagle Mines Ltd. (AEM): 29.1% George Weston Ltd. (WN): 23.5% Loblaw Cos. Ltd. (L): 23.4% Franco-Nevada Corp. (FNV): 21.5% Intact Financial Corp. (IFC): 20.8 Brookfield Renewable Partners LP (BEP-U): 20.2% Power Corp. (POW): 18.9% Barrick Mining Corp. (ABX): 18.1% Cameco Corp. (CCO): 17.5% Toronto-Dominion Bank (TD): 17.5% Metro Inc. (MRU): 16.5% Fairfax Financial Holdings Ltd. (FFH): 16.4% Thomson Reuters Corp. (TRI): 13.7% GFL Environmental Inc. subordinate (GFL): 13.4% RB Global Inc. (RBA): 12.1% Constellation Software Inc. (CSU): 12.1% Hydro One Ltd. (H): 11.6% The week in stocks: Lululemon gets stretched and is Tesla a TACO trade candidate? Being an armchair hockey critic is like judging investment performance from the sidelines • Email: gmvsuhanic@ Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary, straight to your inbox. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
DOLLARAMA ANNOUNCES PRIVATE OFFERING OF $600 MILLION SENIOR UNSECURED NOTES
/NOT FOR RELEASE OVER US NEWSWIRE SERVICES OR DISSEMINATION IN THE US/ MONTREAL, June 12, 2025 /CNW/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today that it has priced an offering (the "Offering") of $600 million aggregate principal amount of 3.850% senior unsecured notes due December 16, 2030 (the "Notes"). The Notes are being offered through an agency syndicate consisting of RBC Dominion Securities Inc., National Bank Financial Markets and TD Securities Inc., as Joint Bookrunners, CIBC World Markets Inc., as Joint Lead Manager, and including Desjardins Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., and Casgrain & Company Limited. The Offering is expected to close on or about June 16, 2025, subject to customary closing conditions. The Notes will be issued at par for aggregate gross proceeds of $600 million and will bear interest at a fixed rate of 3.850% per annum, payable semi-annually, until maturity on the 16th day of June and December of each year, commencing on December 16, 2025. The Corporation intends to use the net proceeds of the Offering to repay the $250 million aggregate principal amount of the Corporation's outstanding 5.084% senior unsecured notes due October 27, 2025 which will be repaid in full at maturity, and for general corporate purposes. The Notes will be direct unsecured obligations of Dollarama and will rank pari passu with all other unsecured and unsubordinated indebtedness of Dollarama. The Notes have been assigned a provisional rating of BBB (high), with a stable trend, by DBRS Limited, and are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the Notes in any jurisdiction where it is unlawful to do so. Forward-Looking Statements Certain statements in this press release about the timing and completion of the Offering, the expected use of the net proceeds of the Offering, and any other future events or developments constitute forward-looking statements. Forward looking statements are based on information currently available to management and on estimates and assumptions made by management in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risks and Uncertainties" section of the Corporation's annual management's discussion and analysis (MD&A) for the fiscal year ended February 2, 2025 and for the first quarter ended May 4, 2025 and in the Corporation's other continuous disclosure filings, which are available on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect us; however, they should be considered carefully. The purpose of the forward-looking statements is to provide the reader with a description of management's expectations regarding the Offering and other future events, and may not be appropriate for other purposes. The closing of the Offering is subject to general market and other conditions and there can be no assurance that the Offering will be completed or that the terms of the Offering will not be modified. Readers should not place undue reliance on forward-looking statements made herein. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as at June 12, 2025, and the Corporation has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. About Dollarama Founded in 1992 and headquartered in Montréal, Quebec, Canada, Dollarama is a recognized Canadian value retailer offering a broad assortment of consumable products, general merchandise and seasonal items both in-store and online. With stores in all Canadian provinces and two territories, our 1,638 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, midsized cities and small towns. Our quality merchandise is sold at select fixed price points up to $5.00. Dollarama also owns a 60.1% interest in Dollarcity, a growing Latin American value retailer. Dollarcity offers a broad assortment of consumable products, general merchandise and seasonal items at select, fixed price points up to US$4.00 (or the equivalent in local currency) in 644 conveniently located stores in Colombia, Guatemala, El Salvador and Peru. SOURCE Dollarama Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Pan-American shareholders give cool early reception to US$2.1-billion deal to buy MAG Silver
Pan American Silver Corp. PAAS-T has reached a friendly arrangement to buy its Canadian competitor MAG Silver Corp. MAG-T in a US$2.1-billion stock and cash deal that isn't going down well with shareholders in early trading. Vancouver-based MAG's biggest asset is its 44-per-cent share in the Juanicipio silver mine in Mexico, which is majority owned and operated by British company Fresnillo PLC. Pan American, also based in Vancouver, has a portfolio of 10 silver and gold mines in seven countries. The company expanded its footprint considerably a few years ago when it bought a suite of South American mines from Yamana Gold Inc. For each MAG share held, investors can choose between receiving US$20.54 in cash, 0.755 common shares of Pan American, or a combination of both. The maximum amount of cash that Pan American will pay out in the deal is US$500-million with the balance to be paid in stock. Pan American's takeover, announced on Monday, is 21-per-cent above MAG's Friday closing price. Michael Siperco, analyst with RBC Dominion Securities who covers Pan American, in a note to clients gave the deal a mixed review, calling it 'a solid portfolio upgrade,' but one that comes with a price. While the transaction adds significantly to the company's near-term silver production, it will be dilutive on several metrics, including net asset value, earnings before interest, taxes, depreciation, and amortization, as well as free cash flow. Pan American plans to issue roughly 60 million shares to MAG shareholders to pay for the deal. Shares in Pan American were trading down by about 14 per cent in early trading on the Toronto Stock Exchange. At least two thirds of votes cast by MAG shareholders in a shareholder meeting must be in favour for the deal to close. The deal also needs regulatory clearance from Mexico under its antitrust laws.
