Genworth MI Canada (MIC) Rating Lowered to Hold at TD Securities
Genworth MI Canada (TSE:MIC) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday. They presently have a C$46.00 target price on the stock, up from their prior target price of C$45.00. TD Securities’ target price indicates a potential upside of 3.84% from the company’s current price.
Several other research firms have also recently issued reports on MIC. National Bank Financial raised their price objective on Genworth MI Canada from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Royal Bank Of Canada cut Genworth MI Canada from a “sector perform” rating to an “underperform” rating and raised their price objective for the stock from C$40.00 to C$41.00 in a report on Monday, November 6th. CIBC cut Genworth MI Canada from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from C$45.00 to C$46.00 in a report on Monday, November 6th. Finally, Scotiabank raised their price objective on Genworth MI Canada from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Genworth MI Canada presently has a consensus rating of “Hold” and an average price target of C$44.67.
Genworth MI Canada (TSE:MIC) traded up C$0.87 during mid-day trading on Thursday, hitting C$44.30. The stock had a trading volume of 274,243 shares, compared to its average volume of 215,897. Genworth MI Canada has a 1-year low of C$30.38 and a 1-year high of C$44.49.
In related news, insider Winsor James Macdonell sold 8,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of C$37.00, for a total value of C$296,000.00.
About Genworth MI Canada
Genworth MI Canada Inc, through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, operates as a private-sector residential mortgage insurer. The Company provides mortgage default insurance to Canadian residential mortgage lenders. It underwrites mortgage insurance for residential properties in various provinces and territories of Canada.
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