Updating Cenovus Energy Inc., Saputo Inc. and Restaurant Brands International Inc.

Article Excerpt

ENOVUS ENERGY INC. $12 (Toronto symbol CVE; Conservative Growth Portfolio, Resources sector; Shares o/s: 1.2 billion; Market cap: $14.4 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.7%; TSINetwork Rating: Extra Risk; www.cenovus.com) produced 443,318 barrels (84% oil, 16% natural gas) in the second quarter of 2019. That’s down 14.5% from 518,530 barrels a year earlier. The drop is partly due to planned maintenance at its Christian Lake oil sands project. Meanwhile, thanks to higher crude prices, cash flow per share jumped 39.7%, to $0.88 from $0.63 a year earlier. The company continues to use that strong cash flow to pay down debt, which stood at $6.5 billion on June 30, 2019. That’s down 23.4% since the end of 2018, and while it’s still high, it represents a manageable 45% of market cap. Cenovus is still a buy. SAPUTO INC. $42 (Toronto symbol SAP; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 388.2 million; Market cap: $16.3 billion; Price-to-sales ratio: 1.2; Dividend yield: 1.6%; TSINetwork Rating: Average;…

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