Genworth MI Canada (MIC) Cut to Hold at TD Securities
Genworth MI Canada (TSE:MIC) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a report issued on Thursday. They currently have a C$46.00 price objective on the stock, up from their prior price objective of C$45.00. TD Securities’ price target points to a potential upside of 3.84% from the stock’s current price.
MIC has been the subject of a number of other reports. Scotiabank lifted their target price on Genworth MI Canada from C$40.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Monday, November 6th. National Bank Financial lifted their target price on Genworth MI Canada from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 24th. CIBC downgraded Genworth MI Canada from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from C$45.00 to C$46.00 in a research report on Monday, November 6th. Finally, Royal Bank Of Canada downgraded Genworth MI Canada from a “sector perform” rating to an “underperform” rating and boosted their price objective for the stock from C$40.00 to C$41.00 in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Genworth MI Canada has a consensus rating of “Hold” and an average price target of C$44.67.
Shares of Genworth MI Canada (TSE:MIC) traded up C$0.87 during mid-day trading on Thursday, reaching C$44.30. The company’s stock had a trading volume of 274,243 shares, compared to its average volume of 215,897. Genworth MI Canada has a 12 month low of C$30.38 and a 12 month high of C$44.49.
Genworth MI Canada Company Profile
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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