CI Financial (TSE:CIX) Sets New 1-Year High - What's Next?

CI Financial Corp. (TSE:CIX) achieved a new 52-week high during midday trading on Thursday. The stock reached a peak of C$31.43 before closing at C$31.33, with a trading volume of approximately 497,902 shares. Prior to this, the stock had set a closing price of C$31.36.

Analysts Provide New Price Projections

In recent days, multiple analysts have released updated reports concerning CI Financial's stock. Scotiabank revised their price target from C$25.00 to C$26.00 in a report released on November 15th. CIBC also increased their target, moving it from C$23.00 to C$32.00 on November 26th. Jefferies Financial Group raised their price target from C$20.00 to C$27.00 and assigned a "buy" rating on November 1st. However, TD Securities downgraded their rating from "buy" to "sell," adjusting the price target upwards from C$28.00 to C$32.00 on November 26th. Additionally, Raymond James changed their stance, moving from a "moderate buy" rating to a "strong sell" rating on January 23rd. Currently, the stock is viewed by two analysts as a sell, four have assigned a hold rating, and two recommend a buy, leading to a consensus rating of "Hold" and an average target price of approximately C$27.94, according to MarketBeat data.

Keep up with Our Latest Analysis on CI Financial

CI Financial Stock Experiences Slight Decline

Despite recent performance, CI Financial's stock showed a minor decrease of 0.1%. The firm has a market capitalization of approximately C$4.52 billion, a price-to-earnings (P/E) ratio of -65.31, and a P/E to growth (P/E/G) ratio of 0.04, with a beta of 1.67. The company's 50-day simple moving average stands at C$31.09, while its 200-day simple moving average is C$24.31. Notably, the firm has a high debt-to-equity ratio of 506.88, with a quick ratio of 0.17 and a current ratio of 0.32.

About CI Financial

CI Financial Corp. operates as a publicly traded asset management holding company. Through its subsidiaries, the firm manages a variety of investment portfolios, including equity, fixed income, and alternative investments. Additionally, it provides mutual funds, hedge funds, and fund of funds services to its clientele.

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This news brief was generated utilizing advanced narrative technology and financial data to ensure prompt reporting. The content has been reviewed to meet editorial standards.

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