If enforced, President Trump’s introduction of a 50% tariff on copper could significantly impact global copper pricing, supply chains and inventories. Join our Equity Research Analysts, Helen Amos, Matt Murphy, and Katja Jancic, as they discuss anticipated outcomes and implications moving forward. Click here for transcript.
BMO experts discuss the evolving Canadian political and economic landscape following the election of Prime Minister Mark Carney. Click here for transcript.
In a special episode of the Markets Plus podcast recorded on April 30, Camilla Sutton, Managing Director and Head of Equity Research, Canada & UK, BMO Capital Markets, moderates a timely and engaging discussion on the implications of the Canadian election. Joining her on the show: Hon. Brian Tobin, Vice Chair, BMO Financial Group and Hon. Jason Kenney, Senior Advisor, BMO Financial Group. Click here for transcript.
On April 28, Canadians elected Members of Parliament to represent them in the House of Commons. The following day, BMO hosted a discussion to cover the economic, markets and tax policy implications. Click here for transcript.
The ongoing uncertainty around U.S. tariffs on foreign goods is affecting business leaders across all industries. On April 17, BMO hosted a discussion to cover macroeconomic trends that are specifically impacting manufacturers with our economic and industry experts. (31 min) Click here for transcript.
Critical minerals are essential inputs in modern energy and high-tech applications, including batteries, energy storage and infrastructure, and national security. They also play an important role in the global energy transition, where demand is expected to necessitate significant investment in order to develop new mines, downstream processing capacity, and secure and resilient supply chains. In this BMO podcast, Greg Jones, Battery Materials Analyst with BMO Capital Markets, sits down with Kwasi...
How is the metals and mining industry driving sustainable development? Rohitesh Dhawan, CEO and President of the International Council on Mining and Metals (ICMM), and Camilla Sutton, BMO's Head of Equity Research for Canada and the UK, explore the industry's progress, key achievements, and what’s next. During this 30-minute episode, they discuss the ICMM and its members' progress on Consolidated Mining Standards, TNFD, decarbonization, the 'trust deficit,' and how the industry is contributing t...
Michael Gregory, Deputy Chief Economist and Head of US Economics, discusses how tariffs and the ongoing uncertainty around them impacts the outlook for the Canadian and U.S. economies; while Brian Belski, Chief Investment Strategist discusses his equity investment outlook for both Canada and the US. Click here for transcript. To access our full disclosures, please visit: https://research.bmo.com/public/disclosures
How will U.S. Tariffs on Canada impact the economy, equities, oil & gas, autos, and banks? Join us for a 25-minute discussion/videocast/podcast with BMO’s Deputy Chief Economist, Michael Gregory, Chief Investment Strategist, Brian Belski, Oil & Gas Analyst, Randy Ollenberger, Consumer Analyst, Tamy Chen and Banks Analyst, Sohrab Movahedi, recorded 24hrs before the tariffs are set to take effect (recorded on February 3, 2025). To access our full disclosures, please visit research.bmo.com/...
U.S. President-Elect Donald Trump’s threats to impose a 25% tariff on all Canadian and Mexican products may be a way to bargain with important trade partners but it doesn’t diminish the urgent need for North American markets to prepare for potential duties. Listen to, Steve Verheul, Former Chief Trade Negotiator for Canada,(Moderator) Allison Hakomaki, Head, National Agriculture, Public Sector & Emerging Industries, BMO Commercial Bank, Canada, Doug Porter, Chief Economist, BMO Financial Gro...
How will an altered political landscape in Washington affect the U.S. fundamental outlook? Camilla Sutton, BMO Capital Markets Managing Director, Head of Equity Research, Canada & UK, moderated a discussion with BMO experts across macroeconomics, financial markets, and rates to understand the current and future implications of the 2024 election. Listen to Doug Porter, Managing Director and Chief Economist; Brian Belski, Chief Investment Strategist; and Ian Lyngen, Managing Director and Head ...
As we prepare for the upcoming US Presidential election, we spend some time with five of our BMO Capital Markets experts who run through how they see market impacts unfolding. Our guests include: Sal Guatieri, BMO’s Sr. Economist and Brian Belski, BMO’s Chief Investment Strategist; as well as three of our Equity Research Analysts Colin Hamilton, who focuses on metal commodities, Randy Ollenberger on Oil and Gas and Doug Morrow on ESG. Please note that this podcast goes in tandem with our broader...
During this podcast Doug Morrow, ESG Analyst, takes the listening through how the AI/data center build out is contributing to a new era of electricity demand, on the back of which firms like Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META) and Microsoft (MSFT) are highly focused on responsible data center construction and operation. However he sees an emerging short-term trade-off between growing their AI business and hitting sustainability targets, particularly around Scope 3 emissions an...
All to often, energy investors focus on the commodity but for mid-cap Oil & Gas companies, share price performance is more determined by evolving company prospects, particularly related to undrilled well inventory. The change in perception as it relates to this undrilled acreage, either by a new oil pool discovery, or advancements in fracking technology, is a much more determining (and forecastable) factor in the long-term upside potential. Our conversation with Jeremy McCrea, CFA explores t...
This episode of INTune delves into the takeaways from BMO’s 19th Annual Farm to Market Conference and stretches across the food and agriculture value chain. Equity Research Analysts Kelly Bania, Joel Jackson, Doug Morrow, and Andrew Strelzik join in a discussion on the impacts of commodity price volatility, consumer trends, ag tech, and water on equities. (20 mins) Click here for transcript. Click here for Doug Morrow's Report “Water Stress in the Food & Agriculture Sector: Risks, Best Pract...
In this edition of BMO’s INTune podcast series, we sit down with Doug Morrow and Devin Dodge from BMO’s Equity Research team to discuss the BMO Climate Opportunities Screen and some of the companies from our coverage that are positively exposed to the energy transition megatrend. (15 mins) Please view our report, “Future Facing Investing: The BMO Climate Opportunities Screen” Click here for episode transcript. To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarket...
Tamy Chen and Emily Foo join this edition of our IN Tune podcast to discuss their recent report entitled “Dollarcity 101: Resonating So Far With Runway for Growth” and how recent quarters of strong equity income growth from Dollarama’s (DOL) joint venture in LATAM called Dollarcity has brought increasing attention to this business as it could provide the second leg of multi-year growth when DOL eventually matures in Canada. Click here for transcript. To access our full disclosures, please visit:...
This week we have a special episode of IN Tune sharing a podcast from BMO’s Sustainability Leaders that aired on February 20, 2024. Colin Hamilton, Commodities Analyst, BMO Capital Markets, sat down with the International Council on Mining and Metals (ICMM)’s President and CEO Rohitesh Dhawan to discuss what the industry needs to do to embrace nature-positive mining (24 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/SldQc294alVqTDhXVVh6VWR0UW4xY3RRYUx5aGFsMzByQzVGe...
In this episode we preview BMO’s 33rd Global Metals, Mining and Critical Minerals conference, and discuss the annual zinc treatment charge negotiations. 11 min Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/QkRSMEVVTDBUcG9GS3RNZDJxUTd0ZjFvUmdvSnNkMEJhSHJvd0ZOOElXVDdIdnlXbEc4ei9xMzdRUmtHUFNYcERMZTZyUGlzdmlTakx5UFBFUlgyR1E9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
In this episode we discuss our expectations for metal and bulk commodity markets into 2024, a new era for gold, and why we see a tighter copper market than expected. BMO clients can view our report, “CORRECTION: Q1 2024 Metals & Bulk Commodity Price Update: The Old Guard Step Up”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/e9d00408-6249-4535-80d7-25496e8af494/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/WDJENEJodnNFL1RyYWIrVDRTVHlPQi9OMS9t...
In this special podcast we discuss the outlook for uranium ahead of the World Nuclear Symposium in London, covering market dynamics, current sentiment towards uranium, and the demand growth potential from small modular reactors. (18 min). BMO clients can view our report, "U Kids on the Block", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/d1f5bec3-dfbe-418b-9674-948f8ba6a84e/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/MmtwT0dqQzJRYklaQmQrbVBjZmJ...
Fadi Chamoun and John Stephenson join this edition of our IN Tune podcast to discuss their recent report on FedEx and its well-received cost reduction plan. Although the plan is sizeable and recent results are favorable, they argue that the program needs to be deeper and bolder and see the risk/reward in the stock as more balanced despite the encouraging steps FDX has taken to improve efficiency. BMO clients can view our report, “FDX/UPS Comparative Analysis: Deeper & Bolder DRIVE Needed”, b...
BMO Capital Markets’ CEO & Group Head, Dan Barclay, moderates a discussion on the takeaways from BMO’s 18th Annual Farm to Market Conference across the food and agriculture value chain. Equity Research Analysts, Kelly Bania, Joel Jackson, Doug Morrow and Andrew Strelzik, join Dan for an engaging discussion that includes commodity price volatility, inflation, ag tech, regenerative agriculture, food waste and how all of this impacts equities in the sector. Essentially this is a deep dive into ...
Mike Markidis, MD & BMO REITs Analysts walks us through his 2023 outlook. He suggests that higher interest rates have him more cautious, particularly as the adjustment process continues and the spectre of a recession looms. Accordingly, from his perspective, investors' expectations should be more tempered in 2023. Valuation screens attractive on a P/NAV basis, but our weighted average AFFO yield spread is below the LTA. In addition, capital constraints and the potential impact of a recession...
In this episode of IN Tune, we are joined by Doug Morrow, ESG Analyst; Rachel Walsh, Carbon Innovation Analyst; Saj Shapiro, Head, BMO Radicle; and Chelsea Bryant, Managing Director, Trading, BMO Radicle, discuss the interplay between BMO Radicle, energy transition, and the world of carbon credits. In December 2022, BMO Financial Group completed its acquisition of Radicle, expanding the bank's carbon credit development capabilities and its footprint in the environmental commodity market, and dee...
The Best of BMO is our quarterly compilation of our broad macro views, as well as our best stock ideas for the next 12 months. Essentially, it is an equity idea book. In this episode, we are joined by eight of our mining analysts to delve into the details of their Best of BMO stock picks. Joining the podcast are Dave Gagliano, Alex Pearce, Jackie Przybylowski, Brian Quast, Andrew Mikitchook, Rene Cartier, Raj Ray, and Ryan Thompson. BMO clients can view our report, “The Best of BMO Q4/22”, by vi...
In this edition of our IN Tune podcast, we sit down with Doug Morrow and Juan Sanabria from BMO’s equity research team to discuss the key findings from their recent note on climate change impacts on US real estate companies. Doug and Juan have analyzed the exposure of 70 US REITs to physical climate risk for their US assets in the "new normal" with ever-increasing billion-dollar climate and weather disasters. They believe that REITs will increasingly have to execute strategies in an environment ...
Recorded on October 31st, Sohrab Movahedi and Etienne Ricard join our IN Tune podcast to discuss their recent report "Spin Mechanics", covering Brookfield Asset Management and the anticipated transaction to spin out a 25% interest in its asset management franchise as a 'pure-play', as well as the drivers of value at BAM and BN, and the value proposition of alternative investment strategies in a higher interest rate environment. BMO clients can view our report, “Spin Mechanics”, by visiting: http...
In this episode of our IN Tune podcast we sit down with Doug Morrow, BMO’s Director of ESG Strategy, to go over the key findings from the department’s recent launch of ESG coverage for the base metals and diversified mining industries in a report entitled, “Beneath the Surface: Exploring ESG Trends and Progress in the Base Metal and Diversified Mining Industries”. We talk everything from minerals traceability to diversity, equity & inclusion, and review how investors can apply the findings i...
There has been a lot of buzz around the voluntary carbon market over the past few years given increased interest in corporate carbon offsetting to help facilitate the explosion in net-zero and emissions reduction targets. We believe this market is currently in its “carpe diem” moment and that it has arrived at an important crossroad, with a need to meet increasing demand for offsets while still maintaining market integrity through products that reflect actual impact. While we believe this market...
