I only wrote about Macro Enterprises (MCR.V) six weeks ago but there has been quite a bit of news (both good and bad) related to the company since then. So far, Mr. Market has responded to this news by pushing the stock down to C$1.80 (so -16.3% since I posted the idea). They don’t report third quarter earnings until the end of this month, but I wanted to review what’s been going on.
A major focus of my initial write-up was the potential catalyst of an LNG export terminal on British Columbia’s west coast. This would massively increase pipeline construction where Macro operates and would almost certainly lead to a lot of business for them. As a reminder, the LNG terminal closest to coming to fruition is from Petronas. The others are probably at least a year from a final investment decision and some of them have been pushing that decision farther to the right thanks to the oil collapse.
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