Archives: News and Insights

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss the markets amid tech profit concerns.

 

Our Portfolio Manager, Sam LaBell, discusses WSP Global, GE HealthCare Technologies, and Brookfield Infrastructure Partners.

 

Sam discusses Barrick, Hudbay Minerals, Agnico Eagle, Bombardier, Fairfax Financial, Constellation Software, Rogers Communications, BCE, Telus, Quebecor and Shopify.

 

Hudbay Minerals Inc. (NYSE, TSX: HBM) rose in December, as gold prices increased 1.9% and copper prices rose 13.6%. HBM was able to resume full operations in Peru following local unrest this fall and remains on track to reach its full-year 2025 guidance.  The company’s long-term outlook is backed by strong mine output and continued cost discipline. 

TFI International Inc. (NYSE, TSX: TFII) rose in December, as the freight market tightened, driving a rally in trucking stocks. Spot truck load rates increased materially in December, reaching year-end pricing levels from 2022. For 2026, TFII management expects TForce Freight to improve its Operating Ratio by 200-300 bps even in a flat demand environment, driven by SMB initiatives, improved fleet utilization, and targeted cost management.

Other top performers included Newmont Corp. (NYSE: NEM), Toronto-Dominion Bank (NYSE, TSX: TD) and Royal Bank of Canada (NYSE, TSX: RY).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of December 31, 2025

Barrick Mining Corp. (NYSE: B, TSX: ABX) rose in November, as gold prices increased 5.9% and copper prices rose 3.3%. Despite production challenges in Q3, Barrick beat expectations on free cash flow and maintained its 2025 financial targets. Spurred on by an activist investor, Barrick’s board is also considering a split of the company into two separate entities, one focused on North America and the other on Africa and Asia, which we expect could boost its valuation.

Agnico Eagle Mines Ltd. (NYSE, TSX: AEM) also rose in November on higher gold prices, with management reiterating its 2025 guidance at the end of October. The company remains on track to achieve its targets this year. We continue to like AEM for its low geographic risk and operating consistency.

Other top performers included Bombardier Inc. (TSX: BBD.b), Loblaw Companies Ltd. (TSX: L) and Dollarama Inc. (TSX: DOL).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of November 30, 2025

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss the market pullback and his cautious approach to tech stocks.

 

Rogers Communications Inc. (NYSE: RCI, TSX: RCI.b) rose in October, as the Blue Jay’s playoff run brought renewed attention to its media division and the company upwardly revised its free cash flow guidance. RCI plans to buy out the remaining 25% interest in MLSE, allowing it to combine its media properties and potentially repackage a minority stake that will unlock its value.

Hudbay Minerals Inc. (NYSE, TSX: HBM) rose in October alongside the 3.7% increase in gold and 5.8% increase in copper prices. HBM’s outlook is underpinned by strong mine output, ongoing cost discipline, and management’s reassurance that it can manage through unrest in Peru.

Other top performers included Canadian Imperial Bank of Commerce (NYSE, TSX: CM), Toronto-Dominion Bank (NYSE, TSX: TD) and Loblaw Companies Ltd. (TSX: L).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of October 30, 2025

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss the markets and why he is pulling back on gold.

 

With gold rising a further 11.9% in September to US$3,859 per ounce, our top performers in September included gold producers Hudbay Minerals Inc. (NYSE, TSX: HBM), Barrick Mining Corp. (NYSE: B, TSX: ABX), Agnico Eagle
Mines Ltd. (NYSE, TSX: AEM) and Newmont Corp. (NYSE: NEM). Each of the companies remains on track to achieve their 2025 production guidance and lower their unit costs. Hudbay also benefited from the announcement of its Copper World JV with Mitsubishi and management’s reassurance that it can manage through unrest in Peru.
Another top performer was Bombardier Inc. (TSX: BBD.b), which rose in September as the Business Jet maker outlined its outlook for defence revenues and aftermarket services, which it expects to reach roughly half of future sales. Bombardier sees opportunities from increased government procurement tied to rising NATO spending goals in Canada and other member countries.

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of September 30, 2025

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss labour trends, consumer spending, tariffs and a key holding, Alimentation Couche-Tard Inc.