09:39:10 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-15 C$ 3.59
Market Cap C$ 3,663,158,065
Recent Sedar Documents

Globe says Aurora Cannabis kept at "speculative buy"

2019-11-18 08:07 ET - In the News

The Globe and Mail reports in its Saturday edition that Canaccord analyst Matt Bottomley, with an unchanged "speculative buy" call, lowered his share target for Aurora Cannabis to $6 from $8. The Globe's David Leeder writes that analysts on average target the shares at $6.73. Mr. Bottomley says in a note: "Aurora reported FQ1/20 financial results (ended Sept 30) that fell shy of our expectations in a quarter that has seen many LPs stumble given limited retail infrastructure, growing inventory balances held with provincial buyers and a lack of product breadth available to consumers in advance of Cannabis 2.0. For the quarter, the company reported total net revenues of $75.2-million, a sizable quarter-over-quarter decrease of 24 per cent and below our forecast of $85.6-million. Although we were expecting an overall sequential decline due to elevated wholesales in the prior quarter that were not expected to reoccur at similar levels, the miss was attributed to a 33-per-cent drop in recreational cannabis sold to provincial buyers -- a seemingly common theme witnessed as part of this earnings season. We believe many of the metrics achieved by the company in the quarter should be incrementally encouraging to investors."

© 2024 Canjex Publishing Ltd. All rights reserved.