What is driving Aecon stock? It is ticking upwards slowly. I am thinking of keeping it for dividend and some upside.. Any thoughts please? Also, Ivanhoe Electric.. Is it a good time to take a small position? Any idea why the stock shows different statuses on tsx versus nyse.. Sometimes it does not trade much on tsx and other times the values are different eventhough i take into account exchange rates. Thanks very much
ARE is likely ticking up from its recent earnings announcement, other than that there is no news. Although revenue numbers were not too strong in terms of growth and slightly missing estimates, earnings were solid in the quarter. EPS beat estimates of $0.47, coming in at $1.63 and displayed substantial growth from the prior year at $0.45. We are fine holding onto ARE as it is still expected to be profitable in the future, although the valuation has now risen to 14x forward earnings. In the event of a bounce back among infrastructure stocks, ARE could benefit.
IE is currently spiking up in the last month up nearly 8.5% but is still down year-to-date approximately 6%. One bank recently initiated coverage while another has it listed at outperform. IE recently announced a joint venture with a Saudi mining company, Ma'aden, for exploration. IE committed funding of US$127.1M and US$66M from Ma'aden. IE is not expected to be profitable next year, but revenues are supposed to grow by approximately 17% next year. IE has plenty of cash on its balance sheet at $338.3M but with it not being profitable and having negative operating cash flows, it continues to be a more speculative play.
Differences in stock prices between the TSX and the NYSE can be attributed to variations in trading hours, liquidity, arbitrage activities, market-specific factors, listing structures, and tax considerations. These factors collectively contribute to discrepancies in stock values, outside of exchange rates, although it is more rare to see.