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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Laurentian Bank of Canada    LB   CA51925D1069

LAURENTIAN BANK OF CANADA (LB)
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TSX ends lower as banks, mining stocks weigh

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12/05/2017 | 10:56pm CET
The Toronto Stock Exchange sing is seen in Toronto

Canada's main stock index slipped on Tuesday, as banks pulled back at the end of their earnings season and one warned about mortgage originations while mining stocks also weighed with copper and gold prices hitting two-month lows.

* The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended down 53.35 points, or 0.33 percent, to 15,915.68. Seven of its 10 main groups finished lower while decliners were outnumbering advancers by almost 2-to-1.

* The heavyweight financials group slipped 0.5 percent, with Toronto-Dominion Bank (>> Toronto-Dominion Bank) off 1.3 percent at C$72.43.

* Shares in smaller lender Laurentian Bank of Canada (>> Laurentian Bank of Canada) fell 7.9 percent to C$56. The bank said in an annual report that it had identified documentation issues and client misrepresentations in some mortgages at its B2B Bank subsidiary and plans to perform an in-depth review of originations.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1 percent as miners of copper, nickel, zinc and other base metals were hit hard by falling commodity prices.

* First Quantum Minerals Ltd (>> First Quantum Minerals Limited) fell 4.5 percent to C$14.56 and Teck Resources Ltd (>> Teck Resources Ltd) lost 2.9 percent to C$28.99 as copper prices <CMCU3> fell their most in two years to hit a two-month low.

* Gold miners also fell, with Goldcorp Inc (>> Goldcorp Inc.) shedding 2.2 percent to C$15.61 and Barrick Gold Corp (>> Barrick Gold Corp) off 0.9 percent at C$17.51 as gold dropped 1 percent to a two-month low.

* Commodity prices were in part hurt by a stronger U.S. dollar on the back of a U.S. tax overhaul plan.

* Licensed marijuana producer Aphria Inc (>> Aphria Inc) jumped 16.4 percent to C$13.53 after saying it had reached a deal to supply medical cannabis to Loblaw Cos Ltd's (>> Loblaw Companies Ltd) pharmacy chain Shoppers Drug Mart.

* Bombardier Inc (>> Bombardier, Inc.) ended 1 percent higher at C$3.17 after two sources said Aeromexico has held preliminary talks to take some of its CSeries jets orders from Delta Air Lines Inc, which owns a stake in the Mexican carrier, to avoid possible U.S. trade duties levied on the planes.

* The heavyweight energy group was little changed, while Kinder Morgan Canada Ltd (>> Kinder Morgan Canada Ltd) fell 2.6 percent to C$16.61 after saying late on Monday that the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020.

(Reporting by Alastair Sharp; Editing by Meredith Mazzilli and Lisa Shumaker)

By Alastair Sharp

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Financials ( CAD)
Sales 2018 1 111 M
EBIT 2018 396 M
Net income 2018 245 M
Debt 2018 -
Yield 2018 4,44%
P/E ratio 2018 9,23
P/E ratio 2019 8,53
Capi. / Sales 2018 2,01x
Capi. / Sales 2019 1,87x
Capitalization 2 231 M
Chart LAURENTIAN BANK OF CANADA
Duration : Period :
Laurentian Bank of Canada Technical Analysis Chart | LB | CA51925D1069 | 4-Traders
Technical analysis trends LAURENTIAN BANK OF CANADA
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 60,0  CAD
Spread / Average Target 4,5%
EPS Revisions
Managers
NameTitle
François Desjardins President, CEO, COO & Director
Isabelle Courville Chairman
François Laurin Chief Financial Officer & Executive Vice President
Deborah Rose CIO & Executive VP-Intermediary Banking
Lise Bastarache Independent Director
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