|Bid||2.97 x 0|
|Ask||2.98 x 0|
|Day's Range||2.91 - 2.99|
|52 Week Range||2.13 - 4.64|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Bets on blockchain and pot are paying off for GMP Capital Inc., the Canadian investment bank that has moved beyond energy, where it sees “major” roadblocks for investment. Chief Executive Officer Harris Fricker said his Toronto-based firm is "on the right path" by diversifying beyond energy and resources into cannabis and new areas of technology. GMP’s first-quarter earnings proved his point, with investment-banking revenue nearly doubling to C$30.2 million ($23.5 million).
The cannabis industry should prepare itself for a “clash of the titans” as growing U.S. companies face off with Canada’s already-established players, says a GMP Capital Inc. investment banker who specializes in the industry. “My thesis is the Canadian companies won’t go down to the U.S. immediately but will go around the globe and become their own little behemoths, while the U.S. companies are going to come up,” Steve Ottaway, who’s a managing director at the firm’s GMP Securities business, said in an interview at Bloomberg’s Toronto office.
A slew of equity capital markets offerings in the cannabis sector helped smaller Canadian investment banks and boutiques climb up the league table rankings in the first quarter, according to Thomson Reuters data released on Thursday. If this keeps up, it will be a tough year overall from a volume perspective," said Sante Corona, executive managing director and head of equity capital markets at TD Securities. TD Bank, Canaccord Genuity and Credit Suisse took the top three positions in the equity capital markets rankings, advising on deals worth C$954 million, C$797 million and C$677 million respectively.
A least 50 firms tied to blockchain and cryptocurrencies are set to list on Canadian stock exchanges in the next year, thanks in part to a junior market that’s more comfortable with risk than other parts of the world, the head of securities firm GMP Capital Inc. said. “The level of activity in this market of quality plays, quality teams is as high as I’ve seen since the internet age," Harris Fricker, chief executive officer of the Toronto-based firm said in an interview at Bloomberg’s offices. Canada is emerging as a hub for bitcoin and cryptocurrency stocks amid “a virtuous circle" of expertise and business, backed by a capital markets ecosystem that supports small companies, particularly on the TSX Venture Exchange, Fricker said.
Categories: Yahoo FinanceGet free summary analysis GMP Capital, Inc. reports financial results for the quarter ended March 31, 2017. Highlights Summary numbers: Revenues of CAD 48.86 million, Net Earnings of CAD 3.49 million. Gross margins narrowed from 97.05% to 95.70% compared to the same period last year, operating (EBITDA) margins now 7.91% from -6.95%. Change in operating ... Read more (Read more...)