One of the world’s largest gold producers is ready to invest more in Canada. Fresh off the Canada Investment Summit, Amber Kanwar sits down with Ammar Al-Joundi, President & CEO of Agnico Eagle Mines Limited, for a wide-ranging conversation about Canada’s changing investment climate, the outlook for gold and why he believes this could be a pivotal moment for the country’s resource sector.
Looking to invest in high-quality companies without high fees? The HAMILTON CHAMPIONS™ suite of ETFs offers exposure to diversified portfolios of equity champions across tech, financials, utilities, and dividend strategies, all with a low 0.19% management fee, designed to help you stay invested with confidence for the long term. For more information on the HAMILTON CHAMPIONS™ suite, visit: www.hamiltonetfs.com/hamilton-
FROM AMBER’S DESK
I asked my daughter what she and her friends did at recess. “We sent each other texts, but like, on paper,” she replied. “Do you mean you wrote each other notes?” I asked. “Yeah, like paper texts.” Digital kids relating to analog things.
Here are five things to know today
1.
Stocks mixed after yesterday’s surge
Tech stocks are leading the charge this morning even as oil prices turn green. Friday is a good day for perspective so with all this consternation about whether AI will kill us, a slowdown in CapEx spending, and a rout in the bond markets: the S&P 500 is only 2% away from a record high and the TSX is less than 3% away. The indices are holding in, but it might not feel that way if you own individual stocks. Bespoke points out that 40% of the S&P 500 are down 20% or more from their 52-week high. Overnight we got a rate hike by the Bank of Japan, which was expected. However, the Yen is selling off because the decision wasn’t unanimous with two dissents and the BOJ Governor adopted a more “wait and see” approach with respect to the next rate decision, rather than implying it would definitely happen.
|
“While I thought BoJ Governor Ueda handled the press conference very well, he didn’t come out as one-sided in a hawkish way as some—including US Treasury Secretary Bessent who claimed insider information that would buoy the yen—would have perhaps wished.” — derek holt, scotiabank |
━━━━━━━━━━━━ ◆ ◆ ◆ ━━━━━━━━━━━━
2.
BMO downgrades Linamar and Magna
Trade tensions and a hawkish Federal Reserve are behind the downgrades from Tamy Chen at BMO. She was previously bullish hoping that margin improvement would continue to drive the narrative around the stocks. While both have held up well and outperformed the market this year, Chen is worried that a combination of tariffs and rising interest rates puts production volumes at risk.
━━━━━━━━━━━━ ◆ ◆ ◆ ━━━━━━━━━━━━
3.
Netflix cut to sell at Wells Fargo
Steven Cahall is now the only analyst with a sell rating on Netflix which has dropped nearly 40% over the past year. Cahall isn’t recommending buying the dip here and warns of further headwinds. A lack of breakout hits while simultaneously focused on trying to compete with YouTube is showing up in lack of audience engagement. Even though the stock has underperformed, his price target implies a further 24% downside. I own this one but have been nervous about it for a while.
━━━━━━━━━━━━ ◆ ◆ ◆ ━━━━━━━━━━━━
4.
On Holding surges 6% on signing Mbappe
The running shoe company signed the French soccer superstar Kylian Mbappe as a partner to develop products and represent the brand. It’s a blow to Nike and Adidas which are both trading lower and a win for On Holding which recently hit a 3-year low. All of sports apparel has been challenged but this move shows how competitive the landscape has become with newer entrants making deals with heavyweights.
━━━━━━━━━━━━ ◆ ◆ ◆ ━━━━━━━━━━━━
5.
Brookfield hosts Investor Day
Brookfield and Brookfield Asset Management laid out their targets for the future aiming for 24% growth in distributable earnings. Both stocks have been under pressure recently on higher rate fears. “Higher rate expectations have weighed on the stock recently,” said Cherilyn Radbourne, “But we think a bigger TAM for alt assets overrides higher rates. The stub value offers high optionality and BN will continue to repurchase stock in that vein.”
Don’t miss the next episode! Time to get your questions in! Click here to submit a question!
