RE:RE:RE:Tax loss selling ???See below for the translated article. Great west life also advertised last week they dropped Canam from there portfolio due to poor management. I think you will see some other funds starting to drop there position and others selling for tax loss purposes. Either way it doesn't look pretty here.
Canam Group (CAM, $ 9.14): division of bridges still ill, reduced target The recovery of the US division of bridges will take longer than expected, said Leon Aghazarian, National Bank Financial, during a meeting with Canam leaders. The analyst reduced his target price slightly from $ 11 to $ 10.50. "Contrary to what the company has repeated throughout 2016, US bridge operations will not be profitable in the fourth quarter of 2016 due to persistent problems of efficiency at the manufacturing and painting stages," notes Aghazarian . The analyst inferred from the leaders that the deficit division will recover profitability, at best, in the second half of 2017. "We will monitor the situation more closely," he said. The announcement of a repurchase of 1.3 million shares at $ 8.75 bounced back from $ 8.41 in November to $ 9.52 on December 13. Canam has also decided to suspend this redemption in order to preserve its capital, even if its price is trading below its carrying value of $ 10.60. Mr. Aghazarian no longer recommends the purchase of Canam whose share loses 4% in the morning on December 15, increasing to 34% its decline since the beginning of the year.