Toronto, May 25, 2026, 15:03 EDT
- goeasy added 3.4% to C$36.15 late in Toronto trading.
- TSX traded as usual with Canadian exchanges open, even with the U.S. markets closed for Memorial Day.
- Investors look at a bounce in the shares while loan losses stay high and dividends remain suspended.
goeasy Ltd. shares climbed in late Toronto trading Monday, adding to a rally for the beaten-down consumer lender. The company took a first-quarter loss, which had made investors rethink its credit risk.
GSY was up C$1.20 to C$36.15, a rise of 3.4%, on the Montréal Exchange’s real-time quotes at 3:02 p.m. EDT. Google Finance had shares at C$36.01 at 2:39 p.m., up 3.03%, with the session high at C$36.47.
goeasy is pushing to reassure investors that it’s put the worst of the credit shock behind it, but the stock hasn’t bounced all the way back. Shares are still well under the 52-week high at C$216.50, despite gains in the past week. The recent rally looks more like damage control than a true turnaround.
Canadian exchanges stayed open on May 25 while U.S. markets were shut for Memorial Day. The TMX CDS site listed Canadian markets as open, and the Toronto Stock Exchange ran its usual 9:30 a.m. to 4:00 p.m. EDT hours.
Materials stocks gave a boost as the S&P/TSX Composite hit a record high in early trading Monday, Reuters said. Investors looked for gains on hopes of a U.S.-Iran breakthrough. Nine out of ten TSX sectors were in the green in the morning. Energy stocks fell with weaker oil prices.
goeasy posted a first-quarter net loss of C$53.0 million, swinging from net income of C$38.7 million last year, even as revenue inched up 2% to C$412.9 million. The non-prime lender, based in Mississauga, Ontario, reported results on May 12.
goeasy reported its annualized net charge-off rate jumped to 17.8%, compared to 8.9% last year. The company cited more write-offs from merchant-originated automotive and powersports loans as the main reason.
goeasy CEO Patrick Ens said in the results that the company moved to reduce its exposure to merchant loans and said its “liquidity position is solid.” Loan originations dropped 19% in the quarter as goeasy tightened underwriting, putting more restrictions around who can get a loan. goeasy
goeasy’s board is suspending its regular quarterly dividend and halting share buybacks for now to keep more capital on hand. The company also put in a shareholder rights plan, or poison pill, that lets shareholders buy more stock at a discount if an investor takes too big a stake—meant to make a hostile takeover less likely.
Analysts are still wary. MarketScreener pointed to a May 13 MT Newswires note where National Bank lowered its price target on goeasy to C$34 from C$38 and left its Sector Perform rating in place. The bank flagged higher uncertainty following the quarter.
Mixed take from competitors, but it helped sentiment. Propel Holdings gained 2.68% and EQB added 1.67% on Google Finance’s related-stock list. goeasy moved more on its credit reset than on any general lift in consumer lenders.
Market shifts could be ahead of credit numbers. goeasy’s outlook for 2026 is still calling for net charge-offs in the mid-teens for the year, but the company flagged weaker jobs, lower demand, or funding strain as possible risks to loan growth and warned write-offs could top forecasts.
goeasy shares are trading as if the market is bracing for more weakness. The stock is down 72% this year, MarketScreener’s delayed quote page shows. Investors want to see if stricter lending can steady the loan book but not cut off future growth.
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