CRON.TO - Cronos Group Inc.

Toronto - Toronto Delayed Price. Currency in CAD
20.67
+0.04 (+0.19%)
At close: 4:00PM EDT
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Previous Close20.63
Open20.90
Bid20.61 x 0
Ask20.67 x 0
Day's Range20.61 - 21.55
52 Week Range7.33 - 32.95
Volume848,527
Avg. Volume1,774,729
Market Cap6.884B
Beta (3Y Monthly)4.70
PE Ratio (TTM)37.18
EPS (TTM)0.56
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est14.55
  • Better Marijuana Stock: Cronos Group vs. Green Thumb Industries
    Motley Fool23 hours ago

    Better Marijuana Stock: Cronos Group vs. Green Thumb Industries

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  • Does Cronos Group Look Expensive at the Current Price?
    Market Realist4 days ago

    Does Cronos Group Look Expensive at the Current Price?

    Cronos Group: Analysts' Ratings and Target Price Update(Continued from Prior Part)Cronos GroupCronos Group (CRON) has been trading at a significant premium to the peer average in May—a continuation of the trend over the past several months. The

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    Market Realist4 days ago

    Cronos Group: Analysts’ Ratings and Target Price

    Cronos Group: Analysts' Ratings and Target Price UpdateCronos Group’s ratingsCronos Group (CRON) has experienced an increase in the number of analysts covering the stock. Six analysts covered the stock at the beginning of the year—compared to

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    Market Realist5 days ago

    How Cronos Group and Aurora’s Valuations Compare with Peers

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  • Don’t Hold the Bag on Cronos (CRON) Stock
    SmarterAnalyst12 days ago

    Don’t Hold the Bag on Cronos (CRON) Stock

    Last week, Cronos (CRON) reported earnings for Q1’19, which just like previous earnings, were not received well by the market. With CRON now down about 35% from highs in early March, investors might be asking if it is worth holding the bag on CRON. The answer is no.Cronos’s Q1’19 net revenues of C$6.5M represented a mere C$0.9M increase from the quarter prior (C$5.6M for Q4’18). Neither the amount of revenues reported by CRON nor the quarter-over-quarter growth provide any justification for the current enterprise value of approximately C$4B. While CRON’s cash of C$2.4B brought in via the Altria investment provide the company with plenty of ability to expand, the management team at Cronos don’t appear to be taking advantage of that possibility.Cronos Continues to Botch the Launch of Recreational CannabisCronos’s MD&A from Q3’18 noted that it was selling its recreational cannabis products to cannabis control authorities in Ontario, British Columbia, Nova Scotia and Prince Edward Island. Heading into Q4’18 and the legalization of recreational cannabis this seemed pretty poor coverage of Canada relative to its peers like Canopy Growth Corporation (CGC), Aurora Cannabis (ACB), Tilray (TLRY) and Aphria (APHA).Cronos had another quarter to get things right, however, it did miss out on the launch of recreational cannabis. Unfortunately, with regards to selling recreational cannabis products, the addition of sales to private retailers in Saskatchewan was the only update to the MD&A for Q4’18. Unsurprisingly, this corresponded to only minimal revenue growth (C$0.9M) for Q1’19.With Q1’19 Cronos had yet another chance to get things right and ink supply agreements regarding its recreational cannabis products with new provinces. Alarmingly, Cronos doesn’t even appear to have a modest update on this front, the MD&A for Q1’19 doesn’t note any new territories or provinces where the company is selling its recreational cannabis products. What do investors think Q2’19 revenues will look like based on this? Cronos still does not appear to be in the two provinces where retail sales of recreational cannabis are now highest, Alberta and Quebec.Revenues from Israel Aren’t Close EnoughA substantial amount of excitement surrounds Cronos’s operations in Israel. Cronos Israel is actually a joint venture, it isn’t wholly-owned. Cronos is however entitled to 90% of the net income from Cronos Israel, but it doesn’t appear that sizable revenues are set to come from that venture in Q2’19. The Q1’19 MD&A notes that construction of a 45,000 square foot greenhouse which represents the first phase in Cronos Israel’s expansion is only set to complete in the first half of 2019. Indeed, this construction did not appear to be complete at the time of Q1’19 earnings this May. It seems highly improbable that cultivation could commence in time to produce any meaningful amount of crop for processing and sale in the remainder of Q2’19. Further, Cronos notes that while it does plan to export medical cannabis products from Cronos Israel, this is subject to obtaining all the necessary licenses and permits, something that also does not yet appear to have occurred.Bottom LineWith lackluster sales casting a shadow over the cannabis business, Cronos stock has struggled recently. While the company still has potential in the future, it seems Q2’19 will look a lot like Q1’19 and Q4’18 -- two performances the market did not applaud. It seems unwise to hang around for a third performance.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Read more: Cronos Stock Still Looks Overvalued More recent articles from Smarter Analyst: * Love or Hate Aurora Cannabis (ACB) Stock, That’s Where the Money Is * Micron's (MU) Tech Roadmap Highlights Flattening Cost Curve, Says Analyst; Reiterates Neutral on the Stock * Time to Cash Out on Cannabis Stock Canopy Growth (CGC) * GW Pharmaceuticals (GWPH) Stock Could Run Much Higher Over Time

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  • Could This Be Cronos Group's Most Logical Acquisition Target?
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  • Benzinga13 days ago

    Cronos Group Signs Multiyear Supply Agreement With MediPharm Labs

    MediPharm Labs Corp. (TSXV: LABS)(OTC: MEDIF ) has agreed to a multi-year supply deal with Cronos Group Inc. (NASDAQ: CRON ). What To Know Per the deal, MediPharm will supply Cronos Group's wholly-owned ...

  • TheStreet.com13 days ago

    Cronos Climbs After Securing Private Label Concentrate Agreement With MediPharm

    MediPharm will supply Cronos with about $30 million of high-quality private label cannabis concentrate over the next 18 months. Cronos will also use MediPharm Labs' extraction facility in Ontario to fulfill certain processing needs under a separate agreement. "As the industry develops and matures, we see opportunity to work with companies like MediPharm Labs that provide specialized, high-quality services and inputs for our products," said Mike Gorenstein, CEO of Cronos Group.

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  • GlobeNewswire13 days ago

    Cronos Group and MediPharm Labs Enter $30 Million Multi-Year Private Label Cannabis Concentrate Supply Agreement with Potential to Increase to $60 Million

    MediPharm Labs Corp. (LABS.V) (MEDIF) (“MediPharm Labs”) a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that it has entered into a multi-year supply agreement with Cronos Group Inc. (CRON) (CRON) (“Cronos Group”). MediPharm Labs will supply Cronos Group with approximately $30 million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to $60 million over 24-months.  In addition, Cronos Group has selected MediPharm Labs’ state of the art extraction facility in Barrie, Ontario, as a preferred partner to fulfill certain of its processing needs, under a separate tolling arrangement.

  • GlobeNewswire13 days ago

    Cronos Group and MediPharm Labs Enter Cannabis Concentrate Supply Agreement

    Cronos Group Inc. (CRON.TO) (CRON.TO) (“Cronos Group” or the “Company”), is pleased to announce that it has entered into a multi-year supply agreement with MediPharm Labs Corp. (LABS.V) (MEDIF) (“MediPharm Labs”). MediPharm Labs will supply Cronos Group with approximately $30 million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to $60 million over 24-months.

  • Oilprice.com14 days ago

    The Marijuana Industry’s Dirty Little Secret

    Cannabis cultivation requires enormous amounts of energy, and water, and the companies that employ smart solutions are now pulling ahead in the highly competitive cannabis boom

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