|Bid||8.14 x 0|
|Ask||8.20 x 0|
|Day's Range||8.14 - 8.53|
|52 Week Range||3.98 - 24.25|
|Beta (5Y Monthly)||3.81|
|PE Ratio (TTM)||32.80|
|Earnings Date||Nov 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||19.93|
Village Farms International, Inc. ("Village Farms") (TSX:VFF; Nasdaq:VFF) today responded to the ongoing, inaccurate and misleading public disclosure by Emerald Health Therapeutics, Inc. ("Emerald") relating to Village Farms' majority ownership interest in Pure Sunfarms Corp. ("Pure Sunfarms").
Village Farms Confirms Rejection of Emerald's Invalid Set-Off Claim and Invalid Shareholder Loan Repayment Demand
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX: EMHTF) today responded to misleading public disclosure made by Village Farms International, Inc. ("Village Farms") (TSX: VFF; Nasdaq: VFF) yesterday in connection with their joint venture, Pure Sunfarms Corp. ("PSF"). Emerald reiterates the disclosure in its November 20, 2019, news release and confirms that, factually, Emerald and Village Farms each continue to own 50% of PSF. As set out in Village Farms’ own news release, no additional shares of PSF have been issued to Village Farms and none of Emerald’s escrowed shares in PSF have been cancelled.
VANCOUVER , Nov. 27, 2019 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (TSX:VFF; Nasdaq:VFF) today announced that its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has entered into a supply agreement with the Alberta Gaming, Liquor & Cannabis Commission ("AGLC") to supply recreational adult-use cannabis products to Alberta's licensed private retailers, including Alberta's only legal online source for recreational cannabis, AlbertaCannabis.org. The AGLC is the wholesaler to private retailers and the only authorized online retailer in Alberta.
The marijuana industry is made up of companies that either support or are engaged in the research, development, distribution, and sale of medical and recreational marijuana. The biggest companies include Canopy Growth Corp. (CGC), Tilray Inc. (TLRY), and Aurora Cannabis Inc. (ACB), but the industry has scores of upstarts that are trying to grab a piece of the market. The marijuana industry, as measured by the ETFMG Alternative Harvest ETF (MJ), has substantially underperformed the S&P 500 over the past year.
VANCOUVER , Nov. 26, 2019 /CNW/ - Village Farms International, Inc. ("Village Farms") (TSX: VFF; Nasdaq: VFF) today responds to inaccurate and misleading public disclosure by Emerald Health Therapeutics, Inc. ("Emerald") and provides an update in respect of its majority ownership interest in Pure Sunfarms Corp. ("Pure Sunfarms"), as described in more detail in Village Farms' press release dated November 19, 2019 (the "Prior VF Press Release"). As a result of Emerald's failure to pay $5,940,000 to Pure Sunfarms on November 1, 2019 (the "Emerald Payment Default"), Village Farms made an additional equity contribution (the "VF Additional Equity Contribution") and increased its ownership in Pure Sunfarms on November 19, 2019 , thereby becoming the majority owner of Pure Sunfarms.
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX: EMHTF) today responded to inaccurate allegations made by Village Farms International, Inc. ("Village Farms") (TSX: VFF; Nasdaq: VFF) in connection with their 50/50 joint venture, Pure Sunfarms Corp. ("PSF"), and updated the market on certain related matters. Late yesterday evening Emerald received notice from Village Farms stating that Village Farms had advanced $5.94 million to PSF for additional equity. Village Farms claims that it has the right to acquire these shares under the PSF shareholders’ agreement.
VANCOUVER , Nov. 19, 2019 /CNW/ - Village Farms International, Inc. ("Village Farms") (TSX:VFF; Nasdaq:VFF) today announced that, following an equity payment default by Emerald Health Therapeutics, Inc. ("Emerald") (TSV:EMH) pursuant to the Delta 2 option agreement involving Pure Sunfarms Corp. ("Pure Sunfarms"), Village Farms notified Pure Sunfarms that it has exercised its rights under the Pure Sunfarms shareholders agreement to increase Village Farms' ownership position in Pure Sunfarms and advanced an equity payment to Pure Sunfarms of $5,940,000 (the "VF Additional Equity Contribution"). Following Emerald's failure to make this equity payment, Pure Sunfarms issued a default notice to Emerald. Assuming the VF Additional Equity Contribution is accepted by Pure Sunfarms, Village Farms will receive an increased equity interest in Pure Sunfarms effective as of November 19, 2019 .
Shareholders in Village Farms International, Inc. (TSE:VFF) had a terrible week, as shares crashed 23% to CA$8.31 in...
– Pure Sunfarms is Top Performing Dried Flower Brand with 16% Market Share and Number One Selling Dried Flower Product in October with Ontario Cannabis Store – VANCOUVER , Nov. 14, 2019 /PRNewswire/ - ...
The vast majority of the cannabis market has been beaten down over the last year as the market is concerned about a myriad of issues in the once hyped sector. The Canadian sales aren’t living up to expectations after recreational cannabis legalization in October 2018 and the U.S. companies are facing issues with raising capital at reasonable costs due to a lack of cannabis legalization on a federal level.The global market is still forecast to top $200 billion in annual sales in the distant future, but investors always need to remember that companies have to survive the present market. The cannabis sector is rife with opportunities under the surface while the majority of the media headlines focuses on the major Canadian LPs that obtained lofty valuations in the initial market over reaction to the potential cannabis opportunity.Market darling Aurora Cannabis (ACB) is down over 60% from the 2019 peak over $10 and the stock has lost ~28% from the starting price for the year. The original IPO hype from Tilray (TLRY) sent the stock surging to $300. In the months following, the Tilray has lost up 90% of the peak value and the stock is down nearly 70% YTD. A whole list of dozens of Canadian and U.S. cannabis stocks have suffered similar fate in 2019.The market isn’t all bad, but investors haven’t made any money this year chasing the well-known names. We’ve delved into these three cannabis companies that have generated stock gains in 2019 and are poised for more upside going into 2020:Trulieve Cannabis (TCNNF)Though Trulieve Cannabis is down from the highs above $16 this year, the stock started the year around $8 and has generated a 35% gain YTD with the current move above $11. The U.S. multi-state operator (MSO) based in Florida avoided the high-profile acquisitions around the market peak that has snagged the other major MSOs. The company focused on profitability over pure revenue growth and the stock has rewarded shareholders this year.Trulieve recently opened their 39th store in Florida and is slowly moving beyond a Florida focus while most other players took the aggressive expansion plan to reach operations in as many states as plausible. The company now has plans to enter California, Massachusetts and Connecticut plus a couple of other states this year via minor deals where Trulieve will only have one or two retail dispensaries in each of these news states at year end.Even without aggressive acquisitions, the company still produced 149% revenue growth in the June quarter. The most impressive part of the Trulieve story is that the company has 65% gross margins and only spends mid-20% of revenues on operating expenses to generate a substantial EBITDA margin.The stock has a market value of $1.2 billion with revenue targets approaching $400 million in 2020. The company generated over $31 million in adjusted EBTIDA in the last quarter alone allowing for more stock gains with these strong bottom line metrics in a market where most companies produce loses.All in all, Wall Street is quite positive on this 'Moderate Buy' stock; Trulieve has received 2 'buy,' and one 'hold' ratings in the last three months. Running the numbers across the Street, the 12-month average price target lands at $19.62, representing over 70% upside from current levels. (Find out how the Street’s average price target for Trulieve breaks down)Village Farms (VFF)Another company that has generated stock gains this year is Village Farms, despite a scathing report from Citron Research back in April. The research firm known for aggressive short positions suggested the company had so many red flags the stock should be valued at $1.While half the cannabis sector stocks are actually trading at $1, Village Farms is now up over 140% from the January price in the face of these allegations. The company created a 50%-owned JV to turn greenhouses growing vegetables into a cannabis cultivation business that has worked better than planned.The stock is worth $412 million, and Village Farms generated $53.5 million in quarterly revenues with $12.1 million from the Pure Sun Farms JV. The ability to generated $4.6 million in EBITDA from converting existing facilities and producing low-cost cannabis has won over investors.The Pure Sunfarms JV is already working on doubling annual cannabis production to 150,000 kg with the ability to further increase expansion to 330,000 kg via other greenhouses. In addition, Village Farms is busy building up a domestic U.S. network of land in Virginia, North Carolina, South Carolina, Colorado and Texas to grow hemp to extract hemp-based CBD oil.Analysts only target the company generating $230 million in 2020 revenues providing for substantial upside as additional cannabis and CBD supplies reach the market including recent expansion into higher margin branded products. Village Farms falls into the group of stocks with more upside having not been hyped this year due to the Citron report.TipRanks’ data shows a bullish camp backing this cannabis player. The ‘Strong Buy’ stock has amassed 4 ‘buy’ ratings in the last three months, with no 'hold' or 'sale' ratings. The 12-month average price target stands tall at $31.76, marking nearly 284% in return potential for the stock. (See Village Farms stock-price forecast and analyst ratings on TipRanks)Medicine Man (MDCL)As the year started, Medicine Man hardly had a visible business in the cannabis sector. The company only generated 2018 revenues of $9.4 million while ending the year with only $3.4 million in current assets.The stock started the year trading at just above $1 and currently trades above $3 after reaching $4 as recently as September. The main driver of the stock price was an acquisition spree to snap up assets in Colorado following new regulations via the passing of HB19-1090 allowing for the consolidation of the industry via outside investors such as Medicine Man Tech.Over the course of six months since the passing of the bill in May, Medicine Man Tech. has bought a dozen companies pending approvals not expected until early 2020. The company forecasts the businesses generating 20% EBITDA margins with a goal of reaching 30% margins via collaborative growth and economies of scale.The major problem with the story is the lack of visibility of the financials from all of pending deals. The company reports Q3 result on November 11, but none of these businesses will be on the books yet. The stock still isn’t well known by the general investing public so any success by Medicine Man Tech to consolidate these businesses into a high margin business would reward shareholders. (Get TipRanks' free stock analysis report on Medicine Man)To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
-- Company to Report its Third Quarter 2019 Financial Results Via News Release on Thursday, November 14, 2019 at Approximately 5:00 p.m. ET -- VANCOUVER , Nov. 8, 2019 /PRNewswire/ - Village Farms International, ...
We are still in an overall bull market and many stocks that smart money investors were piling into surged through October 17th. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 45% and 39% respectively. Hedge funds' top 3 stock picks returned 34.4% this year and beat the S&P […]
When it comes to Canada’s $2.2 trillion stock market, you would think that foreign investors would be lining up to get a piece of the action. However, this is not the case. Despite seeing a record breaking performance this year, investors are looking to the U.S. as a safe haven.“At times of risk — macro, geopolitics or trade — investors sell assets from other areas and focus on the safety of U.S. equities. Canada, being a small weight in many global benchmarks, is easy to ignore and from an equity point of view is thought of as acting closer to emerging markets, given its resource exposure,” Purpose Investments’ Chief Investment Officer, Greg Taylor, commented.That’s not to say that compelling investment opportunities can’t be found in the Canadian market. Using TipRanks’ Best Stocks to Buy tool, we were able to pinpoint 3 Canadian names that each boast more than 50% upside potential from the current share price.If that wasn’t promising enough, each stock has received enough bullish calls over the last three months to give it a “Strong Buy” consensus rating. Canada Goose (GOOS)While the luxury outerwear company has seen shares slip 9% year-to-date, some analysts argue that Canada Goose is just getting started on its growth trajectory.One of the biggest questions on investors’ minds is how the company will maintain sales when a single coat can put you out $1,000. RBC Capital analyst Kate Fitzsimons believes that GOOS has room to expand and gain market share as the company only has 12 stores currently.Bearing this in mind, the addition of five new stores in China as well as its efforts to expand its product lineup could drive substantial top-line gains. In the next few years, GOOS wants to be known as a three-season brand that offers knitwear, spring wear, lighter-weight down jackets and footwear on top of its heavier coats.While there have been concerns regarding GOOS’ ability to sustain its strong margins, Fitzsimons is “comfortable with GOOS's margin expansion story as the Direct mix shift buoys GMs all in, pricing and supply chain efficiencies flow through, and, on the channel front, considering GOOS's superior productivity levels”. She added, “We see Canada Goose's premium positioning, technical emphasis, strong and authentic heritage, customer loyalty and seasoned management team as key assets”. As a result, the analyst kept her Buy rating and $57 price target. (To watch Fitzsimons’ track record, click here)The rest of the Street appears to agree with the analyst. 4 Buy ratings and no Holds or Sells assigned over the last three months add up to a ‘Strong Buy’ analyst consensus. With an average price target of $61.16, the upside potential comes in at about 50%. (See Canada Goose stock analysis on TipRanks) Village Farms (VFF)Village Farms started off growing vegetables like cucumbers, peppers, tomatoes and other produce. Now, the company has shifted its focus towards a higher margin industry, cannabis. As part of this shift, VFF entered into a joint partnership with Emerald Health Therapeutics (EMH) that became known as Pure Sunfarms (PSF).Following the recent receipt of its packaging license to sell cannabis products directly to provincial or territorial wholesalers and authorized private retailers, VFF appears poised to become a major player in the Canadian cannabis space. PSF has proven in its most recent quarter that it leads the market in terms of growing low cost per gram marijuana, with the cost coming in at $0.65 to be exact.In addition, VFF stands to benefit from the Cannabis 2.0 market, which refers to the legalization of vapes, edibles, beverages and concentrates in Canada. To capitalize on this growing market, it’s building a 25,000 sq. ft. extraction facility at its new Delta 3 location, which could be operational by 2020 depending on license approval.The company is also gearing up for the hemp CBD opportunity in the U.S., with its first hemp CBD harvest this fall expected to produce about 500,000 pounds of biomass.All of this contributed to Roth Capital analyst Scott Fortune’s conclusion that VFF “is just beginning to disrupt the Canadian cannabis industry as the low-cost, validated quality price leader with one of the largest greenhouse footprints in production and new capacity coming on line." With this in mind, the analyst reiterated his Buy rating while raising the price target to $29. This new price target suggests huge upside potential of 249%. (To watch Fortune’s track record, click here)Similarly, other Wall Street analysts take a bullish approach when it comes to VFF. With 100% Street approval in the last three months, the stock is a ‘Strong Buy’. Not to mention its $32.61 average price target indicates 284% upside potential. (See Village Farms stock analysis on TipRanks) Trilogy Metals (TMQ)Trilogy Metals is a development stage base metals company that explores locations throughout the Ambler Mining District in Alaska, U.S. With its key assets including a 100% owned Arctic deposit and Bornite deposit called the Upper Kobuk Mineral Projects (UKMP), TMQ represents a unique opportunity for investors wanting to increase their exposure to copper.Its flagship high-grade copper development project, Arctic, is located in Alaska which is considered a low-risk jurisdiction. Back in February 2018, the company announced positive PFS results for Arctic, based on a conventional 10,000 tpd truck and shovel, single open pit mine and mill design. With the Alaskan government’s support of the construction of a road which would join Arctic with current infrastructure, TMQ could see an improvement in production efficiency. On top of this, its partnership with NANA, a Regional Native Corporation to ensure all local stakeholders participate in the socio-economic benefits of the project, is an important factor to be considered.While all of this is promising, Raymond James’ Brian MacArthur points out that TMQ could see significant gains based on its South32 option agreement. South32 can pay around $150 million for half of Trilogy’s assets in Alaska, which could reduce its capital requirements for Arctic.This prompted MacArthur to initiate his coverage with a Buy and set a CA$3.75 price target. “We believe Trilogy is an attractive base metals development opportunity that offers investors exposure to copper, one of our preferred longer-term commodities, through its flagship Arctic project,” he explained. (To watch MacArthur’s track record, click here)As only Buy ratings have been assigned in the last three months, TMQ earns a ‘Strong Buy’ consensus rating. Additionally, analysts think that shares could soar 82% over the next twelve months. (See Trilogy Metals stock analysis on TipRanks)
The cannabis industry has grown in recent months and years, and many companies in the cannabis and health-related industries have been uplisted to reputable U.S. exchanges. Learn about the marijuana stocks on the Nasdaq.
VANCOUVER , Oct. 22, 2019 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (VFF) (VFF) announced today that it has completed its previously announced bought deal offering of 3,059,000 common shares (the "Offered Shares") in the capital of the Company at a price of $9.40 per Offered Share for aggregate gross proceeds to the Company of $28,754,600 (the "Offering"). The Offering was conducted by a syndicate of underwriters co-led by Beacon Securities Limited, as sole bookrunner, and GMP Securities L.P. (together, the "Underwriters"). The Offering included 399,000 Offered Shares issued pursuant to a full exercise of the Underwriters' over-allotment option.
Nasdaq:VFF) today announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp. ("Pure Sunfarms" or the "Joint Venture"), was advised by Emerald that it would be receiving a dispute notice from Emerald Health Therapeutics ("Emerald") (TSV:EMH) in respect of certain amounts for which Pure Sunfarms has invoiced Emerald under the Supply Agreement (as defined below). The wholesale market price for cannabis in the markets where the Joint Venture sells its production has declined during the three months ended September 30, 2019, resulting in lower margins realized by the Joint Venture for its production as compared to the three months ended June 30, 2019.
Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week Welcome to the Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for ...
VANCOUVER , Oct. 10, 2019 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (VFF) (VFF) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Beacon Securities Limited ("Beacon"), as sole bookrunner, and GMP Securities L.P. (together with Beacon, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 2,660,000 common shares (the "Offered Shares") in the capital of the Company at a price of $9.40 per Offered Share (the "Issue Price") for aggregate gross proceeds to the Company of $25,004,000 (the "Offering").