cenovus energy

LOBLAW COMPANIES LTD., $175.89, Toronto symbol L, is a buy.

The company operates 1,131 supermarkets under several banners, including Loblaws, Zehrs, Provigo, Real Canadian Superstore and No Frills.

In March 2014, it purchased the Shoppers Drug Mart chain for $12.3 billion in cash and shares....

Cenovus Energy keeps rewarding shareholders with dividends and stock buybacks as it looks to boost production & performance on the back of a strong balance sheet.

NEWMONT CORP., $39.13, remains a buy for long-term growth and as a hedge against inflation. The company (New York symbol NEM; Shares outstanding: 1.1 billion; Market cap: $43.4 billion; TSINetwork Rating: Average; Dividend yield: 2.6%; www.newmont.com) continues to make progress with its plan to sell six of its less-important mines....

CENOVUS ENERGY INC. $22 is a buy. Canada’s third-largest oil producer (Toronto symbol CVE; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.8 billion; Market cap: $39.6 billion; Price-to-sales ratio: 0.7; Dividend yield 3.3%; TSINetwork Rating: Average; www.cenovus.com) expects to spend between $4.5 billion and $5.0 billion in 2024 on exploration and upgrades.


Those investments will lift the company’s full-year output to between 785,000 and 810,000 barrels a day (its oil sands projects in Alberta account for 76% of that total)....

This month we highlight a natural resources ETF actively managed by a team with a strong track record. We also consider an ETF that invests in smaller U.S.-listed companies that are considered high-quality and pay regular dividends.


Mackenzie Core Resources ETF $20.97 (Toronto symbol MORE) invests mainly in the shares of Canadian companies involved in oil and gas production as well as mining.


The fund intends to keep at least 80% of the portfolio invested in Canadian companies, with the balance spread across the world....

CENOVUS ENERGY, $22.57, is a buy for long-term gains. The company (Toronto symbol CVE; Shares outstanding: 1.8 billion; Market cap: $41.2 billion; TSINetwork Rating: Average; Dividend yield: 3.2%; www.cenovus.com) reported that its net debt (total debt less cash balances) fell to $4.0 billion in July 2024 from $5.06 billion at the end of 2023.


Under the company’s new shareholder return policy, once net debt falls to $4.0 billion, it will return 100% of its free cash flow (after capital expenditures) to shareholders in the form of higher dividends and share buybacks.


That bodes well for more dividend hikes....

CENOVUS ENERGY INC., $21.89, Toronto symbol CVE, remains a buy for the Resources section of your portfolio.

The company is now Canada’s third-largest producer of oil and natural gas after Canadian Natural Resources and Suncor (see next Hotline item)....

CENOVUS ENERGY INC. $24 is a buy. Canada’s third-largest oil producer (Toronto symbol CVE; Conservative Growth Portfolio, Resources sector; Shares o/s: 1.9 billion; Market cap: $45.6 billion; Price-to-sales ratio: 0.8; Dividend yield 3.0%; TSINetwork Rating: Average; www.cenovus.com) reported that its net debt (total debt less cash balances) fell to $4.0 billion in July 2024 from $5.06 billion at the end of 2023.


Under the company’s new shareholder return policy, once net debt falls to $4.0 billion, it will return 100% of its free cash flow (after capital expenditures) to shareholders in the form of higher dividends and share buybacks.


That bodes well for more dividend hikes....

Cenovus Energy Inc. offers a solid yield and plenty of upside from a value, growth and income perspective with a 24% cash flow boost anticipated this year.

COLLIERS INTERNATIONAL GROUP INC., $189.43, Toronto symbol CIGI, is a buy for aggressive investors.

This company offers a range of services, including helping clients buy and sell commercial real estate, arranging financing, and assessing properties for tax purposes.

Colliers tends to use acquisitions to enhance its market share and spur its long-term growth....