TSX this week
The TSX has experienced a rocky week, marked by five consecutive sessions of declines. This downturn coincided with the unexpected resignation of Canada’s Finance Minister, Chrystia Freeland, just hours before she was scheduled to present a fall economic update to parliament. The market’s reaction to this political upheaval has added to the volatility, making it a challenging period for investors.
Air Canada: Soaring through the holidays
Air Canada (TSX:AC, Forum), the nation’s leading airline, has been proactive in ensuring smooth travel during the peak holiday season. The airline released its top travel tips this week to help customers navigate the busiest travel days, expected to be from December 19 to 23, 2024, and extending through January 6, 2025.
What the “Buzz”
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In addition to holiday preparations, Air Canada announced ambitious long-term plans at its 2024 Investor Day. The airline set targets for 2028, including C$30 billion in operating revenues, a minimum 17 per cent adjusted EBITDA margin, and approximately 5 per cent free cash flow margin. Air Canada also reaffirmed its 2024 full-year guidance and provided new guidance for 2025, reflecting its strategic focus on growth and profitability.
WELL Health Technologies: Innovating healthcare
WELL Health Technologies Corp. (TSX:WELL, Forum) has made significant strides in the healthcare sector. This week, it rebranded its subsidiary, WELL Provider Solutions Group, to WELLSTAR Technologies Corp., positioning it as a high-growth, profitable, pure-play Software-as-a-Service healthcare technology company. WELLSTAR supports over 37,000 healthcare providers across Canada, enhancing patient care with advanced technology and services.
WELLSTAR recently closed a C$50.4 million equity placement, backed by major investment firms, to fund its growth objectives. Additionally, WELLSTAR acquired two healthcare technology companies, boosting its proforma revenue to over C$70 million in 2025 with EBITDA margins of approximately 20 per cent. WELL Health aims to spin out WELLSTAR by the end of 2025, offering investors a unique opportunity in the healthcare technology space.
Sintana: Expanding horizons in energy
In the energy sector, Sintana Energy Inc. (TSXV:SEI, Forum) announced a significant development with QatarEnergy joining the Petroleum Exploration License 90 (PEL 90) joint venture. QatarEnergy acquired a 27.5 per cent working interest in the license, which covers Block 2813B in Namibia’s Orange Basin. This strategic move aligns with QatarEnergy’s increasing presence in the region, including its involvement in the nearby Venus discovery.
The PEL 90 joint venture is set to commence its inaugural exploration campaign with the Deepsea Bollsta drilling rig mobilizing to drill the Kapana-1X well in the second half of December 2024. This exploration effort underscores Sintana Energy’s commitment to expanding its footprint in the lucrative offshore energy market.
Auld lang syne
As the year draws to a close, these three TSX stocks—Air Canada, WELL Health Technologies, and Sintana Energy —offer compelling opportunities for investors. Each company is making strategic moves to enhance its market position and deliver value to shareholders. Stay tuned for the latest updates and enjoy the holiday season.
From the newest hot sectors and rising small-cap opportunities, to the monumental shakeups and stories that seem to pop up out of nowhere to captivate the markets, make sure to stay tuned, and for previous editions of Buzz on the Bullboards, click here.
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Buzz on the Bullboards | Sign Up HereAs we wrap up 2024, it is time to look to the new year ahead, and see if the holidays have a positive effect on the markets in the form of a “Santa Claus Rally”.
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(Top image generated with AI.)
