Maverix Metals offers a precious metals-focused portfolio with "a mix of over 100 producing, development and exploration assets," that offer "diverse revenue sources and organic growth opportunities," said CIBC. The bank also emphasized that the assets are in stable jurisdictions.
CIBC has forecast annual free cash flow to grow by 62% to C$54 million in 2025, "before additional acquisitions." Further, development and exploration stage assets offer significant long-term growth potential, it said. CIBC raised its target price to C$9 from C$8.50.
Expected Major Events for Tuesday
05:00/JPN: Jul Supermarket sales
06:00/GER: 2Q GDP - Detailed breakdown
08:59/JPN: Jun Final Labour Survey - Earnings, Employment & Hours Worked
10:00/UK: Aug CBI Distributive Trades Survey
10:00/FRA: 2Q OECD trade statistics release
11:45/US: Weekly Chain Store Sales Index
12:30/CAN: 2Q Quarterly financial statistics for enterprises
12:55/US: 08/21 Johnson Redbook Retail Sales Index
14:00/US: Jul New Residential Sales
14:00/US: Aug Richmond Fed Business Activity Survey
17:00/US: Jul Money Stock Measures
20:30/US: 08/20 API Weekly Statistical Bulletin
23:01/UK: Aug REC JobsOutlook survey
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
Advance Auto Parts Inc (AAP) is expected to report $3.19 for 2Q.
Bank of Montreal (BMO,BMO.T) is expected to report $2.82 for 3Q.
Bank of Nova Scotia (BNS,BNS.T) is expected to report $1.87 for 3Q.
Best Buy Co Inc (BBY) is expected to report $1.84 for 2Q.
Citi Trends Inc (CTRN) is expected to report $0.43 for 2Q.
Concentrix Corp (CNXC) is expected to report for 3Q.
Electromed (ELMD) is expected to report $0.05 for 4Q.
FTI Consulting (FCN) is expected to report $1.49 for 4Q.
Flanigan's Enterprises Inc (BDL) is expected to report for 3Q.
Heico Corp - A Share (HEI,HEIA) is expected to report $0.55 for 3Q.
Intuit Inc (INTU) is expected to report $0.83 for 4Q.
Medtronic plc (MDT) is expected to report $1.02 for 1Q.
Nordstrom Inc (JWN) is expected to report $0.28 for 2Q.
Prospect Capital Corp (PSEC) is expected to report $0.08 for 4Q.
Puretech Health PLC (PRTC.LN) is expected to report for Interim.
ScanSource (SCSC) is expected to report $0.43 for 4Q.
Tofutti Brands (TOFB) is expected to report for 2Q.
Toll Brothers (TOL) is expected to report $1.48 for 3Q.
Urban Outfitters (URBN) is expected to report $0.79 for 2Q.
bebe stores (BEBE) is expected to report for 4Q.
iMedia Brands Inc (IMBI) is expected to report for 2Q.
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ANALYST RATINGS ACTIONS
ACV Auctions Raised to Buy From Neutral by Citigroup
Chesapeake Energy Cut to Equal-Weight From Overweight by Wells Fargo
ContinentalRes Oklahoma Raised to Overweight From Equal-Weight by Wells Fargo
Dycom Raised to Overweight From Equal-Weight by Wells Fargo
Earthstone Energy Cut to Underweight From Equal-Weight by Wells Fargo
EOG Resources Raised to Overweight From Equal-Weight by Wells Fargo
Facebook Cut to Neutral From Buy by Arete Research
Oasis Petroleum Raised to Equal-Weight From Underweight by Wells Fargo
Plexus Raised to Overweight From Equal-Weight by Fox Advisors
Snap Raised to Buy From Neutral by Arete Research
Vine Energy Cut to Equal-Weight From Overweight by Morgan Stanley
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
08-24-21 0556ET
