Enerplus Corporation Logo

Enerplus Corporation

ERF.TO

(2.8)
Stock Price

26,78 CAD

18.87% ROA

31.79% ROE

10.37x PER

Market Cap.

4.142.926.795,00 CAD

15.94% DER

1.33% Yield

23.9% NPM

Enerplus Corporation Stock Analysis

Enerplus Corporation Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

Enerplus Corporation Fundamental Stock Analysis
# Analysis Rating
1 ROE

The stock's ROE exceeds expectations (79.15%), revealing strong profitability and efficient use of shareholders' equity, making it an attractive investment opportunity.

2 ROA

This stock has a great ability to make a lot of money from the things it owns, which makes it a really good investment for smart investors.

3 DER

The stock has a minimal amount of debt (23%) relative to its ownership, showcasing a strong financial position and lower risk for investors.

4 Dividend

The company's consistent dividend payouts over the past five years exemplify its strong commitment to providing shareholders with reliable returns, making it an attractive investment option.

5 Graham Number

Based on the Graham number, this company's stock price appears to be lower than its intrinsic value, signaling a potentially favorable investment choice.

6 Dividend Growth

The company's dividend growth has exhibited a remarkable upward trend over the past three years, consistently delivering higher payouts to shareholders.

7 Buffet Intrinsic Value

Warren Buffett's formula suggests that the company's stock is undervalued (86), making it an appealing investment prospect with its intrinsic value surpassing the current market price.

8 PBV

The stock's high Price-to-Book Value (P/BV) ratio (3.02x) suggests it's overvalued, potentially making it an expensive investment.

9 Revenue Growth

Company has experienced no growth in revenue over the past three years, suggesting limited profitability and making it a less desirable investment opportunity.

10 Net Profit Growth

This company's net profit has remained stagnant over the past five years, indicating a lack of growth and making it a less favorable investment option.

11 Assets Growth

Company's revenue has stayed stagnant, showing no signs of improvement and making it a less favorable choice.

Enerplus Corporation Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

Enerplus Corporation Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Hold
2 MACD Sell
3 RSI Hold
4 Stoch RSI Hold

Enerplus Corporation Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

Enerplus Corporation Revenue
Year Revenue Growth
1996 40.572.095
1997 35.290.006 -14.97%
1998 26.970.819 -30.85%
1999 37.491.455 28.06%
2000 120.886.126 68.99%
2001 401.625.132 69.9%
2002 394.744.034 -1.74%
2003 721.653.513 45.3%
2004 956.431.712 24.55%
2005 1.335.085.819 28.36%
2006 1.368.671.806 2.45%
2007 1.554.228.864 11.94%
2008 1.916.092.366 18.89%
2009 1.234.419.826 -55.22%
2010 1.351.698.728 8.68%
2011 1.309.142.017 -3.25%
2012 1.465.111.627 10.65%
2013 1.230.878.029 -19.03%
2014 1.516.605.792 18.84%
2015 740.162.428 -104.9%
2016 515.835.875 -43.49%
2017 743.541.153 30.62%
2018 1.247.498.953 40.4%
2019 1.153.577.744 -8.14%
2020 826.967.596 -39.49%
2021 1.319.549.000 37.33%
2022 2.353.374.000 43.93%
2023 1.868.632.000 -25.94%
2023 1.694.333.000 -10.29%
2024 1.451.164.000 -16.76%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

Enerplus Corporation Research and Development Expenses
Year Research and Development Expenses Growth
1996 0
1997 0 0%
1998 0 0%
1999 0 0%
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 0 0%
2013 0 0%
2014 0 0%
2015 0 0%
2016 0 0%
2017 0 0%
2018 0 0%
2019 0 0%
2020 0 0%
2021 0 0%
2022 0 0%
2023 0 0%
2023 0 0%
2024 0 0%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

Enerplus Corporation General and Administrative Expenses
Year General and Administrative Expenses Growth
1996 0
1997 0 0%
1998 0 0%
1999 0 0%
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 94.331.694 100%
2013 103.552.879 8.9%
2014 90.485.502 -14.44%
2015 74.851.011 -20.89%
2016 64.220.668 -16.55%
2017 59.086.282 -8.69%
2018 55.639.743 -6.19%
2019 55.771.777 0.24%
2020 45.157.470 -23.51%
2021 56.807.000 20.51%
2022 69.954.000 18.79%
2023 75.448.000 7.28%
2023 65.664.000 -14.9%
2024 97.028.000 32.32%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

Enerplus Corporation EBITDA
Year EBITDA Growth
1996 30.793.928
1997 24.737.945 -24.48%
1998 14.947.683 -65.5%
1999 30.794.086 51.46%
2000 120.096.021 74.36%
2001 392.555.875 69.41%
2002 365.747.214 -7.33%
2003 702.426.995 47.93%
2004 1.039.010.828 32.39%
2005 1.436.684.130 27.68%
2006 1.331.105.507 -7.93%
2007 1.505.515.206 11.58%
2008 1.836.596.891 18.03%
2009 614.251.742 -199%
2010 732.914.733 16.19%
2011 979.163.565 25.15%
2012 735.962.928 -33.05%
2013 701.257.548 -4.95%
2014 967.806.626 27.54%
2015 294.875.656 -228.21%
2016 161.271.482 -82.84%
2017 397.553.876 59.43%
2018 632.940.537 37.19%
2019 462.869.850 -36.74%
2020 281.084.726 -64.67%
2021 742.534.000 62.15%
2022 1.597.426.000 53.52%
2023 1.131.816.000 -41.14%
2023 962.582.000 -17.58%
2024 743.724.000 -29.43%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

Enerplus Corporation Gross Profit
Year Gross Profit Growth
1996 28.093.987
1997 24.737.945 -13.57%
1998 16.117.501 -53.48%
1999 26.444.249 39.05%
2000 100.013.341 73.56%
2001 326.195.305 69.34%
2002 309.381.058 -5.43%
2003 590.191.018 47.58%
2004 793.014.237 25.58%
2005 1.148.407.872 30.95%
2006 1.153.126.581 0.41%
2007 1.277.393.197 9.73%
2008 1.642.779.779 22.24%
2009 723.769.458 -126.98%
2010 838.784.794 13.71%
2011 793.523.016 -5.7%
2012 333.458.982 -137.97%
2013 247.621.552 -34.66%
2014 570.776.837 56.62%
2015 9.934.495 -5645.4%
2016 -20.913.622 147.5%
2017 255.701.789 108.18%
2018 460.844.475 44.51%
2019 239.710.780 -92.25%
2020 101.287.682 -136.66%
2021 525.518.000 80.73%
2022 1.356.653.000 61.26%
2023 808.224.000 -67.86%
2023 646.454.000 -25.02%
2024 555.376.000 -16.4%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

Enerplus Corporation Net Profit
Year Net Profit Growth
1996 5.983.654
1997 8.385.744 28.64%
1998 -1.754.728 577.89%
1999 6.421.188 127.33%
2000 50.331.714 87.24%
2001 113.235.733 55.55%
2002 73.604.698 -53.84%
2003 192.477.757 61.76%
2004 214.880.575 10.43%
2005 372.000.116 42.24%
2006 467.383.453 20.41%
2007 343.018.409 -36.26%
2008 726.030.737 52.75%
2009 85.108.394 -753.07%
2010 127.091.665 33.03%
2011 107.186.092 -18.57%
2012 -156.543.329 168.47%
2013 45.057.618 447.43%
2014 257.633.134 82.51%
2015 -1.097.797.779 123.47%
2016 295.674.428 471.29%
2017 188.467.594 -56.88%
2018 277.731.768 32.14%
2019 -198.825.664 239.69%
2020 -724.118.542 72.54%
2021 234.441.000 408.87%
2022 914.302.000 74.36%
2023 510.620.000 -79.06%
2023 456.076.000 -11.96%
2024 264.544.000 -72.4%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

Enerplus Corporation Earning per Share (EPS)
Year Earning per Share (EPS) Growth
1996 1
1997 1 0%
1998 0 0%
1999 1 0%
2000 2 100%
2001 2 0%
2002 1 -100%
2003 2 50%
2004 2 0%
2005 3 33.33%
2006 4 0%
2007 3 -50%
2008 5 50%
2009 1 0%
2010 -1 100%
2011 0 0%
2012 -1 0%
2013 0 0%
2014 1 100%
2015 -5 120%
2016 1 600%
2017 1 0%
2018 1 100%
2019 -1 0%
2020 -3 100%
2021 1 0%
2022 4 100%
2023 2 -50%
2023 2 0%
2024 1 -100%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

Enerplus Corporation Free Cashflow
Year Free Cashflow Growth
1996 9.121.423
1997 -3.633.823 351.01%
1998 -4.679.275 22.34%
1999 7.318.773 163.94%
2000 16.649.220 56.04%
2001 37.043.968 55.06%
2002 100.932.046 63.3%
2003 177.738.254 43.21%
2004 287.826.641 38.25%
2005 239.112.749 -20.37%
2006 271.261.523 11.85%
2007 250.846.157 -8.14%
2008 541.609.814 53.69%
2009 189.040.205 -186.51%
2010 -861.465.166 121.94%
2011 -498.280.118 -72.89%
2012 -517.620.096 3.74%
2013 -156.150.155 -231.49%
2014 -42.435.781 -267.97%
2015 -30.331.702 -39.91%
2016 -18.188.379 -66.76%
2017 2.939.959 718.66%
2018 84.980.506 96.54%
2019 48.161.558 -76.45%
2020 80.746.729 40.35%
2021 323.862.000 75.07%
2022 720.994.000 55.08%
2023 39.335.000 -1732.96%
2023 386.077.000 89.81%
2024 22.364.000 -1626.33%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

Enerplus Corporation Operating Cashflow
Year Operating Cashflow Growth
1996 18.607.705
1997 18.099.231 -2.81%
1998 9.683.499 -86.91%
1999 16.570.809 41.56%
2000 66.612.886 75.12%
2001 180.478.230 63.09%
2002 193.744.665 6.85%
2003 329.614.335 41.22%
2004 461.726.583 28.61%
2005 666.982.174 30.77%
2006 740.988.685 9.99%
2007 877.055.456 15.51%
2008 1.037.618.479 15.47%
2009 740.890.077 -40.05%
2010 703.035.514 -5.38%
2011 610.617.042 -15.14%
2012 537.857.724 -13.53%
2013 719.853.113 25.28%
2014 678.115.362 -6.15%
2015 335.331.378 -102.22%
2016 232.341.343 -44.33%
2017 378.628.230 38.64%
2018 542.413.896 30.2%
2019 531.467.460 -2.06%
2020 350.046.268 -51.83%
2021 604.839.000 42.13%
2022 1.173.382.000 48.45%
2023 212.245.000 -452.84%
2023 938.190.000 77.38%
2024 128.657.000 -629.22%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

Enerplus Corporation Capital Expenditure
Year Capital Expenditure Growth
1996 9.486.281
1997 21.733.054 56.35%
1998 14.362.774 -51.32%
1999 9.252.035 -55.24%
2000 49.963.665 81.48%
2001 143.434.262 65.17%
2002 92.812.618 -54.54%
2003 151.876.081 38.89%
2004 173.899.942 12.66%
2005 427.869.425 59.36%
2006 469.727.161 8.91%
2007 626.209.298 24.99%
2008 496.008.665 -26.25%
2009 551.849.871 10.12%
2010 1.564.500.680 64.73%
2011 1.108.897.160 -41.09%
2012 1.055.477.820 -5.06%
2013 876.003.268 -20.49%
2014 720.551.143 -21.57%
2015 365.663.080 -97.05%
2016 250.529.722 -45.96%
2017 375.688.270 33.31%
2018 457.433.390 17.87%
2019 483.305.902 5.35%
2020 269.299.539 -79.47%
2021 280.977.000 4.16%
2022 452.388.000 37.89%
2023 172.910.000 -161.63%
2023 552.113.000 68.68%
2024 106.293.000 -419.43%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

Enerplus Corporation Equity
Year Equity Growth
1996 64.798.598
1997 55.974.842 -15.76%
1998 41.398.583 -35.21%
1999 43.153.148 4.07%
2000 152.466.338 71.7%
2001 862.501.416 82.32%
2002 1.004.777.913 14.16%
2003 1.398.268.002 28.14%
2004 1.660.301.068 15.78%
2005 2.146.994.157 22.67%
2006 2.344.767.939 8.43%
2007 2.665.858.830 12.04%
2008 3.565.113.658 25.22%
2009 3.985.239.232 10.54%
2010 3.904.494.280 -2.07%
2011 3.209.577.864 -21.65%
2012 3.065.402.129 -4.7%
2013 1.814.759.995 -68.92%
2014 1.915.068.139 5.24%
2015 646.941.319 -196.02%
2016 1.086.604.419 40.46%
2017 1.272.977.335 14.64%
2018 1.469.122.559 13.35%
2019 1.126.534.330 -30.41%
2020 420.088.459 -168.17%
2021 609.310.000 31.06%
2022 1.076.613.000 43.4%
2023 1.227.349.000 12.28%
2023 1.215.882.000 -0.94%
2024 1.245.874.000 2.41%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

Enerplus Corporation Assets
Year Assets Growth
1996 89.244.016
1997 87.631.027 -1.84%
1998 82.277.247 -6.51%
1999 85.961.072 4.29%
2000 271.632.235 68.35%
2001 1.434.850.577 81.07%
2002 1.569.976.986 8.61%
2003 2.017.021.153 22.16%
2004 2.645.904.420 23.77%
2005 3.556.589.743 25.61%
2006 3.606.557.642 1.39%
2007 4.345.279.612 17%
2008 5.119.254.187 15.12%
2009 5.639.877.757 9.23%
2010 5.834.238.521 3.33%
2011 5.605.594.515 -4.08%
2012 5.440.288.290 -3.04%
2013 3.457.835.025 -57.33%
2014 3.516.614.406 1.67%
2015 1.860.094.113 -89.06%
2016 1.963.283.981 5.26%
2017 2.104.041.351 6.69%
2018 2.289.450.305 8.1%
2019 1.964.220.260 -16.56%
2020 1.150.016.468 -70.8%
2021 1.990.084.000 42.21%
2022 1.937.981.000 -2.69%
2023 2.068.476.000 6.31%
2023 2.112.418.000 2.08%
2024 2.038.325.000 -3.63%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

Enerplus Corporation Liabilities
Year Liabilities Growth
1996 24.445.417
1997 31.656.184 22.78%
1998 40.878.663 22.56%
1999 42.807.923 4.51%
2000 119.165.896 64.08%
2001 572.349.161 79.18%
2002 565.199.072 -1.27%
2003 618.753.150 8.66%
2004 985.603.351 37.22%
2005 1.409.595.586 30.08%
2006 1.261.789.703 -11.71%
2007 1.679.420.781 24.87%
2008 1.554.140.529 -8.06%
2009 1.654.638.525 6.07%
2010 1.929.744.240 14.26%
2011 2.396.016.650 19.46%
2012 2.374.886.161 -0.89%
2013 1.643.075.030 -44.54%
2014 1.601.546.267 -2.59%
2015 1.213.152.793 -32.02%
2016 876.679.562 -38.38%
2017 831.064.015 -5.49%
2018 820.327.746 -1.31%
2019 837.685.930 2.07%
2020 729.928.009 -14.76%
2021 1.380.774.000 47.14%
2022 861.368.000 -60.3%
2023 841.127.000 -2.41%
2023 896.536.000 6.18%
2024 792.451.000 -13.13%

Enerplus Corporation Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
7.91
Net Income per Share
1.89
Price to Earning Ratio
10.37x
Price To Sales Ratio
2.57x
POCF Ratio
4.83
PFCF Ratio
15.78
Price to Book Ratio
3.2
EV to Sales
2.68
EV Over EBITDA
4.9
EV to Operating CashFlow
5.22
EV to FreeCashFlow
16.4
Earnings Yield
0.1
FreeCashFlow Yield
0.06
Market Cap
4,14 Bil.
Enterprise Value
4,31 Bil.
Graham Number
16.13
Graham NetNet
-2.71

Income Statement Metrics

Net Income per Share
1.89
Income Quality
2.15
ROE
0.32
Return On Assets
0.19
Return On Capital Employed
0.31
Net Income per EBT
0.83
EBT Per Ebit
0.94
Ebit per Revenue
0.31
Effective Tax Rate
0.17

Margins

Sales, General, & Administrative to Revenue
0.04
Research & Developement to Revenue
0
Stock Based Compensation to Revenue
0.01
Gross Profit Margin
0.36
Operating Profit Margin
0.31
Pretax Profit Margin
0.29
Net Profit Margin
0.24

Dividends

Dividend Yield
0.01
Dividend Yield %
1.33
Payout Ratio
0.13
Dividend Per Share
0.49

Operating Metrics

Operating Cashflow per Share
4.06
Free CashFlow per Share
1.29
Capex to Operating CashFlow
-0.68
Capex to Revenue
-0.35
Capex to Depreciation
-1.29
Return on Invested Capital
0.28
Return on Tangible Assets
0.19
Days Sales Outstanding
57.27
Days Payables Outstanding
127.44
Days of Inventory on Hand
0
Receivables Turnover
6.37
Payables Turnover
2.86
Inventory Turnover
1024022000
Capex per Share
-2.76

Balance Sheet

Cash per Share
0,25
Book Value per Share
6,12
Tangible Book Value per Share
6.12
Shareholders Equity per Share
6.12
Interest Debt per Share
1.04
Debt to Equity
0.16
Debt to Assets
0.1
Net Debt to EBITDA
0.19
Current Ratio
0.7
Tangible Asset Value
1,25 Bil.
Net Current Asset Value
-0,48 Bil.
Invested Capital
0.16
Working Capital
-0,13 Bil.
Intangibles to Total Assets
0
Average Receivables
0,26 Bil.
Average Payables
0,33 Bil.
Average Inventory
1580500.5
Debt to Market Cap
0.05

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

Enerplus Corporation Dividends
Year Dividends Growth
1991 1
1992 0 0%
1993 1 0%
1994 1 0%
1995 0 0%
1996 1 0%
1997 1 0%
1998 0 0%
1999 1 100%
2000 3 50%
2001 6 60%
2002 3 -66.67%
2003 4 25%
2004 4 0%
2005 4 0%
2006 5 20%
2007 5 0%
2008 5 -25%
2009 2 -100%
2010 2 0%
2011 2 -100%
2012 2 0%
2013 1 0%
2014 1 0%
2015 1 0%
2016 0 0%
2017 0 0%
2018 0 0%
2019 0 0%
2020 0 0%
2021 0 0%
2022 0 0%
2023 0 0%
2024 0 0%

Enerplus Corporation Profile

About Enerplus Corporation

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. As of December 31, 2021, it had proved plus probable gross reserves of approximately 8.2 million barrels (MMbbls) of light and medium crude oil; 20.7 MMbbls of heavy crude oil; 299.3 MMbbls of tight oil; 56.2 MMbbls of natural gas liquids; 19.7 billion cubic feet (Bcf) of conventional natural gas; and 1,367.9 Bcf of shale gas. Enerplus Corporation was founded in 1986 and is headquartered in Calgary, Canada.

CEO
Mr. Ian Charles Dundas B.Com.,
Employee
404
Address
The Dome Tower
Calgary, T2P 2Z1

Enerplus Corporation Executives & BODs

Enerplus Corporation Executives & BODs
# Name Age
1 Drew Mair
Manager of Investor Relations
70
2 Mr. Ian Charles Dundas B.Com., B.Comm., L.L.B.
President, Chief Executive Officer & Non-Independent Director
70
3 Ms. Shaina Brianne Morihira B.Com., C.A., CPA
Vice President of Finance
70
4 Mr. David A. McCoy B.Comm., Llb
Vice President, General Counsel & Corporate Secretary
70
5 Ms. Jodine Julene-Jenson Labrie B.Com., B.Comm, C.A., CBV
Senior Vice President & Chief Financial Officer
70
6 Mr. Wade D. Hutchings
Senior Vice President & Chief Operating Officer
70
7 Mr. Garth R. Doll
Vice President of Marketing & Midstream
70
8 Ms. Pamela Anne Ramotowski
Vice President of People & Culture
70

Enerplus Corporation Competitors

ARC Resources Ltd. Logo
ARC Resources Ltd.

ARX.TO

(3.0)
MEG Energy Corp. Logo
MEG Energy Corp.

MEG.TO

(1.5)
NuVista Energy Ltd. Logo
NuVista Energy Ltd.

NVA.TO

(2.5)