CI Can Am Small Cap (Trades, Portfolio) Fund looks for long-term capital growth by investing mostly in equity and equity-related securities of Canadian small cap companies. It also invests in foreign securities occasionally.
While the Fund enjoyed returns exceeding 5% in last year’s challenging environment, that figure represented a drop from previous years when its returns were in double digits.
The Fund’s most significant transaction of the third quarter was the sale of its 109,280-share stake in ScanSource (SCSC, Financial), a Greenville, South Carolina-based technology products distributor, for an average price of $36.62 per share. The divestiture had a -2.74% impact on the Fund’s portfolio.
ScanSource has a market cap of $973.96 million and an enterprise value of $1.03 billion. It has a P/E of 16.8, a forward P/E of 12.2, a P/B of 1.3 and a P/S of 0.3. GuruFocus has given ScanSource a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Chuck Royce (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), James Barrow (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of ScanSource in their portfolios.
ScanSource sold for $36.21 per share Thursday.
The Fund acquired a 271,150-share stake in Labrador Iron Ore Royalty Corp. (TSX:LIF, Financial), a Toronto-based corporation formed from the conversion of the Labrador Iron Ore Royalty Income Fund, for an average price of C$14.57 (roughly $10.73 in U.S. currency) per share. The transaction had a 2.11% impact on the Fund’s portfolio.
Labrador Iron Ore Royalty has a market cap of $764.8 million and an enterprise value of $744.31 million. It has a P/E of 12.9, a forward P/E of 14.8, a P/B of 1.3 and a P/S of 7.3. GuruFocus has given Labrador Iron Ore Royalty a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
On Thursday Labrador Iron Ore Royalty sold for C$11.95 (about $8.80 in American money) per share.
The Fund bought a 98,375-share stake in SNC-Lavalin Group (TSX:SNC, Financial), a Montreal-based engineering and construction services company, for an average price of C$42.04 (about $30.97 in American money) per share. The deal had a 2.04% impact on the Fund’s portfolio.
SNC-Lavalin Group has a market cap of $6 billion and an enterprise value of $4.54 billion. It has a P/E of 4.0, a forward P/E of 14.8, a P/B of 1.6 and a P/S of 0.6. GuruFocus has given SNC-Lavalin Group a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
Signature Select Canadian Fund (Trades, Portfolio) has shares of SNC-Lavalin Group in its portfolio.
SNC-Lavalin Group sold for C$40.09 (approximately $29.53 in U.S. dollars) per share Thursday.
The Fund invested in a 68,500-share stake in Home Capital Group Inc. (TSX:HCG, Financial), a Toronto-based credit, mortgage and lending company, for an average price of C$37.58 (approximately $27.68 in U.S. dollars) per share. The transaction had a 1.2% impact on the Fund’s portfolio.
Home Capital Group has a market cap of $1.99 billion and an enterprise value of $1.54 billion. It has a P/E of 6.1, a forward P/E of 6.5, a P/B of 1.2 and a P/S of 3.3. GuruFocus has given Home Capital Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Leith Wheeler Canadian Equity (Trades, Portfolio), Mawer New Canada Fund (Trades, Portfolio) and Signature Select Canadian Fund (Trades, Portfolio) have shares of Home Capital Group in their portfolios.
On Thursday Home Capital Group sold for C$28.42 (roughly $20.93 in American currency) per share.
The Fund bought a 25,125-share stake in Hyster-Yale Materials Handling Inc. (HY, Financial), a Cleveland-based forklift company, for an average price of $63.82 per share. The transaction had a 1.06% impact on the Fund’s portfolio.
Hyster-Yale Materials Handling has a market cap of $1.08 billion and an enterprise value of $1.03 billion. It has a P/E of 10.4, a forward P/E of 12.0, a P/B of 2.4 and a P/S of 0.3. GuruFocus has given Hyster-Yale Materials Handling a Financial Strength rating of 9/10 and a Profitability and Growth rating of 6/10.
Diamond Hill Capital (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Richard Snow (Trades, Portfolio), David Dreman (Trades, Portfolio), Ken Fisher (Trades, Portfolio) and Jim Simons (Trades, Portfolio) have shares of Hyster-Yale Materials Handling in their portfolios.
Hyster-Yale Materials Handling sold for $53.31 per share Thursday.
The Fund reduced its stake in Empire Co. Ltd. (TSX:EMP.A, Financial), a Stellarton, Nova Scotia-based food retail and corporate investment company, by nearly 39%. The Fund sold 140,190 shares for an average price of C$29.29 (about $21.57 in American currency) per share. The deal had a -2.01% impact on the Fund’s portfolio.
Empire has a market cap of $5.51 billion and an enterprise value of $7.45 billion. It has a P/E of 16.9, a forward P/E of 14.8, a P/B of 0.9 and a P/S of 0.3. GuruFocus has given Empire a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Signature Select Canadian Fund (Trades, Portfolio) has shares of Empire in its portfolio.
On Thursday Empire sold for C$26.03 (about $19.17 in U.S. dollars) per share.
The Fund trimmed its stake in WSP Global Inc. (TSX:WSP, Financial), a Montreal-based construction management and engineering consulting company, by more than 57%. The Fund sold 68,900 shares for an average price of C$43 (about $31.67 in U.S. dollars) per share. The transaction had a -1.4% impact on the Fund’s portfolio.
WSP Global has a market cap of $4.36 billion and an enterprise value of $4.83 billion. It has a P/E of 24.7, a forward P/E of 15.7, a P/B of 1.6 and a P/S of 0.7. GuruFocus has given WSP Global a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
WSP Global sold for C$44.38 (approximately $32.69 in American currency) per share Thursday.
The Fund also reduced its existing stake in Open Text Corp. (TSX:OTC), a Waterloo, Ontario-based computer software company, by more than 36%. The Fund sold 32,850 shares for an average price of C$57.93 (roughly $42.67 in American money) per share. The deal had a -1.07% impact on the Fund’s portfolio.
Open Text has a market cap of $7.79 billion and an enterprise value of $8.96 billion. It has a P/E of 30.7, a forward P/E of 13.4, a P/B of 3.3 and a P/S of 3.2. GuruFocus has given Open Text a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Leith Wheeler Canadian Equity (Trades, Portfolio) has shares of Open Text in its portfolio.
On Thursday Open Text sold for C$64.23 (about $47.31 in U.S. dollars) per share.
The Fund reduced its stake in Mitel Networks Corp. (TSX:MNW), a Kanata, Ontario-based telecommunications company, by nearly 46%, selling 161,100 shares for an average price of C$11.01 (about $8.11 in U.S. money) per share. The transaction had a -1.01% impact on the Fund’s portfolio.
Mitel Networks has a market cap of $1.3 billion and an enterprise value of $1.55 billion. It has a forward P/E of 8.6, a P/B of 1.5 and a P/S of 0.8. GuruFocus has given Mitel Networks a Financial Strength rating of 7/10 and a Profitability and Growth rating of 2/10.
Mitel Networks sold for C$10.83 (approximately $7.98 in American currency) per share Thursday.
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