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Highlights
Companies with a market capitalization of at least C$ 2 billion to a maximum of C$ 10 billion are referred to as mid-cap stocks. Mid-cap companies, as the name represents, fall right between small-cap and large-cap companies.
Whereas large-cap stocks are known for long-term growth and lower risks, and small-cap stocks are known for bigger rewards but greater risks, mid-cap stocks offer a balance of both. Besides, investors also opt for mid-cap companies to diversify their portfolios.
With that being said, let's flick through the financial performances of these three Toronto Stock Exchange (TSX)-listed mid-cap companies:
Lightspeed Commerce (TSX: LSPD) Operating as an omnichannel SaaS platform provider for commerce, Lightspeed Commerce Inc. enables businesses to easily manage operations, interact with their customers, and grow. Lightspeed Commerce has a market capitalization of around C$ 3.43 billion.
According to the company's third-quarter results, Lightspeed generated 24 per cent higher (26 per cent on constant currency) revenue of US$ 188.7 million compared to the same period last year. This revenue increase was primarily driven by a 9 per cent higher subscription revenue of US$ 74.5 million and a 41 per cent higher transaction-based revenue of US$ 107.2 million.
Apart from this, Lightspeed had US$ 838.1 million cash in hand in the form of unrestricted cash and cash equivalents as of December 31, 2022.
This SaaS provider's other financials are summarized below:
TransAlta Renewables Inc. (TSX:RNW) (TSX: RNW) TransAlta Renewables Inc. is an electric utility company with energy generation and transmission facilities. With a market capitalization of C$ 3.2 billion, the company had paid its shareholders a monthly cash dividend of C$ 0.078 per common share alongside a dividend yield of 7.80 per cent.
TransAlta mentioned generating a cash flow of C$ 37 million from operating activities in the third quarter of 2022, with cash available for distribution (CAFD) of C$ 46 million (C$ 0.17 per share). Adjusted EBITDA and free cash flow (FCF) for the third quarter of 2022 were C$ 88 million and C$ 58 million, respectively.
Lundin Gold Inc. (TSX: LUG) Lundin Gold Inc. poses itself as a Canadian gold exploration and development company. Fruta del Norte is the company's primary gold deposit in southeast Ecuador's Cordillera del Condor region. Lundin Gold has a total market share of approximately C$ 3.36 billion.
The company has delivered a cash dividend of C$ 0.258 per share to its shareholders semi-annually, with an annualized dividend yield of 3.603 per cent.
Lundin Gold sold 134,640 oz of gold during the third quarter of 2022 for an average realized price of C$ 1,618 per oz, resulting in total gross revenues of C$ 218 million. Additionally, per ounce of gold sold, the cash operating expenses and AISC were C$ 656 and C$ 807, respectively.
The company's EBITDA was C$ 159 million, and adjusted EBITDA was C$ 117 million, alongside net income of C$ 83.9 million from Lundin Gold's mining activities.
Bottom Line The effects of the recession and the increase in interest rates still impact the stock market. As a result, as an investor, if you want to safeguard your portfolio, carefully research the market before investing.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.