A uranium mining site.
Inside the Market's roundup of some of the Canadian small caps making news and on the move today. This post will be updated during the trading day.
Energy Fuels Inc. came in well under estimates, posting a 52-cent-loss per share compared with street expectations of a loss of 15 cents. Though revenues were up slightly, net loss grew to $30.3-million from $5.5-million this time last year. The company said that it suffered in the quarter from a drop in spot prices for a uranium compound as well as a drop in expectations for future uranium prices. The company is also expecting to put its uranium operations in Utah on hold for impairment, recognizing an impairment loss of $30.78-million.
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Great Canadian Gaming Corporation reported an EPS of 29 cents, beating estimates of 20 cents in the second quarter. Revenues are up 12 per cent to $114.7-million in the second quarter compared to last year, while net earnings increased 76 per cent to $19.9-million. The company said that the good performance was due primarily to record quarterly performance at its River Rock Casino Resort in British Columbia. Shares are up 12 per cent year-to-date.
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Pine Cliff Energy Ltd. benefited from greater oil and gas sales in the second quarter, with sales rising to $17.1-million from $9-million last year. The company beat expectations of a 1-cent gain per share with an EPS of 4 cents, buoyed by two acquisitions that the company described as being in line with its strategy of acquiring assets that are low cost and low decline. Cash flow increased to $7.3-million from $3.7-million this time last year. Shares have jumped 73 per cent so far this year.
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Cervus Equipment Corp. came in under estimates with a second-quarter EPS of 35 cents compared to estimates of 57 cents. Revenue was down 2.8 per cent to $237.488 from last year while net profit was also down 32 per cent to $5.6-million. Same-store revenue decreased by 8.8 per cent as a result of a decline in agricultural segment revenue.
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Birchcliff Energy Ltd. missed estimates, reporting an EPS of 18 cents compared to expectations of 31 cents. Petroleum and natural gas revenues rose to $117-million from $79-million last year. Though natural gas production was up, oil production remained the same as last year, with the company saying that production was affected by unscheduled downtime on the Alberta TransCanada Pipeline system.
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IAMGOLD Corporation came in just under estimates in the second quarter, posting an adjusted EPS of 2 cents compared to expectations of 3 cents. Revenues are down to $288.6-million from $301.1-million, while earnings from mining operations were also down to $42.3-million from $92.3-million. The company's net losses have improved from last year, though it suffered this quarter from higher net losses from its share of investments in associates and joint ventures as well as a higher costs in sales.
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Newfoundland Capital Corporation Limited reported second-quarter revenues of $42.3-million, up 19 per cent from last year. The company beat expectations with an EPS of 26 cents compared to estimates of 21 cents, as well as posting that profit was up 26 per cent to $7.5-million on the backs of recent acquisitions in Toronto and Vancouver.
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Concordia Healthcare Corp. miss estimates by a wide margin, posting a loss of 3 cents per share compared to analyst expectations of a 20-cent gain. Revenue was at $26-million this quarter.
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Morguard Corporation reported a second-quarter EPS of $2.83 and an adjusted EPS of $2.24 according to Bloomberg data, both of which came in well under analyst estimates of $4.75. Total revenues were up only slightly to $137-million from $129.8-million, partially a product of an increase in various expenses and a decrease in interest. Shares are up 16 per cent so far this year.
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PanTerra Resource Corp announced that it plans a consolidation of shares in preparation for a name change to Ikkuma Resources corp.
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Tricon Capital Group Inc. beat expectations with an adjusted EPS of 9 cents, compared to expectations of 7 cents. Adjusted base revenue was up 185 per cent to $17.1-million from $5.9-million, though net loss fell 209 per cent to a $13.5-million loss compared to last year's $12.3-million gain.
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MCAN Mortgage Corporation saw second quarter net income rise 36 per cent to $6.1-million, but missed EPS estimates of 39 cents with a reported 30 cents per share. The company was aided by higher interest income from various sources, though gains were offset partially by higher term deposit interest and higher operating expenses. Shares have risen 13 per cent year-to-date.
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Enterprise Group Inc. saw its EPS rise to nil from a loss of 2 cents per share last year, but still missed analyst expectations of a 3-cent gain this quarter. Revenues were up 194 per cent to $14.1-million, while EBITDA was up to $26-million compared to breaking even last year. the company also recently announced its acquisition of a privately-owned oilfield site services rental company in British Columbia.