Short Interest Ratio Indicates Bullish Canadian Stocks: $ONEX $IVN $TIH

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ONEX is bullish with changes in its leadership

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ONEX Corporation (TSX: ONEX) has a short interest ratio of 3.33 which means investors think the price is to increase in near-term. This means the sentiments are bullish on the stock.
Onex Corporation has promoted Bobby Le Blanc to the position of President and will be in charge of all the company's business units. Mr. Le Blanc boasts decade long commitment to Onex and has a strong reputation among his peers. He is a successful investors with proven track record driving value creation and managing teams.

The change is part of the company's long term strategy to revamp its management and strategically position itself for continued growth. Over the last five years, the company has reported $35 billion in assets under management.

As part of the changes, the company has appointed v to become its Vice Chairman of Onex who will be involved in offering investment advice in the firm. He will be the chair of the company's investment committee.

Seth Mersky will resign from his role at Onex. He will take over as Vice Chairman of Gluskin Sheff.he has been an integral part of the company's transformation journey since he joined in 1997.

Ivanhoe Mines looks promising as it announces preliminary study for a new mine

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Ivanhoe Mines Ltd (TSX: IVN) has a short interest ratio of 4.86 which means investors think the price is to increase in near-term. This means the sentiments are bullish on the stock.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) will issue the independent definitive feasibility study for its projected development of the 6 million-tonne-per-annum (Mtpa) Kakula Mine. In addition, the company has announced that it will issue a pre-feasibility study that will include mining 1.6 Mtpa from Kansoko Mine. Ivanhoe Mines will also issue an expanded preliminary economic assessment of the development plan of up to 19 Mtpa for all of the copper discoveries.

Toromont Industries is bullish with stable 2Q 2020 results

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Toromont Industries Ltd (TSX: TIH) has a short interest ratio of 1.77 which means investors think the price is to increase in near-term. This means the sentiments are bullish on the stock.

Toromont Industries has reported a 13% drop in revenue to $849.6 million in the 2Q 2020. The drop in revenue was caused by lower economic activities as a result of the COVID-19 pandemic. The company reported the lowest level of operations in April with some recovery reported in May and June.

Toromont Industries reported a 15% drop in product support and 31% in rental revenue during the quarter. There was an 8% drop in equipment sales. During the quarter, the company reported a 75 drop in revenue to $1.6 billion. There was 31% drop in operating income in 2Q 2020.

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