Category Archives: Ticker

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The long arm of the lawsuit

Canadian companies with foreign subsidiaries are traditionally immune from liability for those subsidiaries’ actions abroad. Klippensteins, a Toronto public interest law firm, is trying to change that—with HudBay Minerals first in its sights
By Jim Middlemiss
 April 13th, 2013

Watch out corporate Canada, Klippensteins is gunning for you. The five-person public interest law firm has made its name defending human rights, particularly among indigenous peoples. Its high-profile cases include representing the family of slain native activist Dudley George, who … Continue reading →

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Disclosure 101: care and feeding of analysts

By Bruce Freedman/Street Smarts
 April 13th, 2013

I’ve always been confused by insider trading rules pertaining to the disclosure of non- public information. Not that I was confused by the intent when I was an analyst; that made perfect sense to me. Rather, I was concerned about … Continue reading →

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Still quiet on the IPO front

A pop in late-2012 momentum helped stoke market confidence for 2013. But action has yet to materialize
By Joel Kranc
 April 12th, 2013

Market volatility, overseas debt crises and instability in North American markets have, in part, had negative effects on the Canadian initial public offering market over the past three years. In 2010, 73 IPOs were issued on all exchanges raising $5.5 … Continue reading →

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Poison pills get a boost

Proposed shareholder rights rules will help target companies fend off hostile bids
By Paul Brent
 April 12th, 2013

Two new, competing proposals from Canadian regulators on poison pills promise to create new guidelines that are more predictable for target companies and tougher on hostile bidders who have made Canada a corporate hunting ground in recent years. The first … Continue reading →

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Ottawa’s long game on takeovers

From Nexen and Progress to 50% caps on state-owned buyers and the net-benefit test, the federal government is walking a fine line to preserve access to future foreign investment
By Jim Middlemiss
 February 25th, 2013

A few months have passed since the federal Conservative government outlined how it would amend the Investment Canada Act to clamp down on future takeovers by foreign state-owned enterprises (SOEs) while making other changes to clarify approval parameters for all … Continue reading →

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Miners discover profits, investor confidence

By Bruce Freedman
 February 25th, 2013

On the back of continued share-price underperformance, the last six months has shown what appears to be a strategic shift in the mining industry’s direction. Comments from senior management abound expressing the importance of return on capital and profitability over … Continue reading →

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Pack averse: having some say in your share price

By Bruce Freedman
 January 7th, 2013

Do you ever feel like nobody cares? You work so hard, returning on equity to give your shareholders high quality earnings-per-share. But then the market tanks, and your stock gets pummeled just like everybody else. The sad reality is that … Continue reading →

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Proxy advisers face restraints

The Canadian Securities Administrators got a frothy response when it asked for feedback on potential regulation of proxy advisory firms. Experts predict voluntary guidelines sometime in 2013 with firmer rules down the road
By Julie Cazzin
 December 20th, 2012

It’s been six months since the Canadian Securities Administrators (CSA) put out consultation paper 25-401 Potential Regulation of Proxy Advisory Firms, which aims to address concerns about the services provided by proxy advisory firms (PAs) and their potential impact on … Continue reading →

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Venture issuers await the simple life

New disclosure regulations that better serve small issuers and their investors are now closer to reality
By Joel Kranc
 December 19th, 2012

Any company with a “V” appended to its stock symbol knows that the cost of compliance, not to mention the time it requires, can be a burden. True, ensuring transparency, providing access to timely information and financial records for the … Continue reading →

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Technical analysis: how insiders can use it to advantage

By Bruce Freedman
 September 26th, 2012

As a general rule, investors respond well to share purchases by a company or its insiders. However, the magnitude of their enthusiasm will be a function of several factors. In the case of insiders, it’s the size of the purchase: … Continue reading →

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Pay pressure expected to increase

Canadian executives were largely spared from the 2012 “shareholder spring” backlash. But don’t bet it isn’t coming
By Cooper Langford
 September 25th, 2012

On June 5, readers of the Financial Times were treated to an unusual column. Written by Sir Martin Sorrell, CEO of advertising powerhouse WPP plc, a few days before the company’s annual meeting, it amounted to an angry defence of … Continue reading →

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Vertically challenged

The TMX name remains and Thomas Kloet is still CEO, but now that Maple Group’s takeover is complete, Canada’s dominant exchange operator is set to embark on a new, yet decidedly uncertain course
By Jim Middlemiss
 September 20th, 2012

Luc Bertrand, the leading voice in Maple Group Acquisition Corp.’s $3.8-billion takeover bid for the TMX Group Inc. (TSX:X), is finally getting his wish to pursue a “bold vision” and “build a new type of exchange for Canada.” That vision … Continue reading →

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More ways to the market

New U.S. legislation could make it easier for smaller Canadian firms to get an American listing. But it’s one particular rule, letting start-ups sell shares via crowdfunding, that has our tech industry buzzing
By Mark Anderson
 June 18th, 2012

Beginning next year, when the so-called U.S. JOBS Act is implemented, American start-ups are going to find it a lot easier to launch initial public offerings and raise money through private placements. But will Canadian companies get in on the … Continue reading →

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Drawn to short-term debt? Know these risks

By Bruce Freedman
 June 18th, 2012

If there’s one thing I’ve learned as an analyst, it’s that markets do not reward companies that take risks outside of their core business. Whether it’s an airline that has not hedged its cost of fuel or an insurance company … Continue reading →

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Game, set…rematch?

Despite seeing its proposed legislation for a national securities regulator shot down by the Supreme Court, the Harper government has signaled it plans to keep pushing the issue
By Jim Middlemiss
 March 16th, 2012

JUST WHEN you thought you might get a break from hearing about the federal government’s plans for a national securities regulator—it did just lose a Supreme Court of Canada ruling on the issue in December, after all—the subject is still … Continue reading →

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