Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Stingray Digital Group Inc. (RAY.A-T) is making a big bet on a mature industry with the purchase of Newfoundland Capital Corp. Ltd., Canada’s second-biggest private radio broadcaster.
Stingray, best known in Canada for its commercial-free streaming service Stingray Music, will pay $506-million for NCC including the assumption of $112-million of debt, the company said in a news release late on Wednesday.
-Nicolas Van Praet
**
Cott Corp. (COT-N; BCB-T) reported first-quarter revenue of US$560.8-million up from US$536.9-million a year earlier. Analysts were expecting revenue of US$563.8-million. Net income attributable to the corporation was US$361.4-million or $2.54 per share versus a loss of US436.4-million or 26 cents a year earlier.
Cott also increased the targeted full-year 2018 consolidated revenue to over US$2.35-billion and full-year 2018 cash flow provided by operations to approximately US$235-million, with capital expenditures in the range of $115-to-$120 million. It says that results in adjusted free cash flow of $115-to-$120-million (when excluding acquisition, integration, and other working capital adjustments).
**
Uni-Select Inc. (UNS-T) reported consolidated sales for the first quarter of $422.1-million, a 42-per-cent increase compared to the same quarter last year. Net earnings were $10.4-million or 25 cents per share versus $11-million and 26 cents a year earlier. Analysts were expecting revenue of $423.3-million and earnings of 32 cents per share.
**
Pason Systems Inc. (PSI-T) reported consolidated revenue of $73.8-million in the first quarter, an increase of 25 per cent from the same period in 2017. Net income was $12.4-million or 14 cents per share in the first quarter, compared to a net income of $6.8-million or 8 cents per share a year ago. Analysts were expecting revenue of $71.4-million and earnings of 15 cents in the latest quarter.
**
Denison Mines Corp. (DML-T; DNN-N) reported revenue of $3.6-million in the first quarter compared to $3.7-million a year earlier. Its net loss was $7-million or a penny per share versus a loss of $1.1-million or nil per share a year ago. Analysts were expecting a loss of a penny per share in the latest quarter.
**
Taseko Mines Limited (TKO-T; TGB-N) reported revenue of $64.2-million in the first quarter down from $104.4-million a year ago. Its net loss was $18.5-million or 8 cents per share versus net income of $16.5-million or 7 cents a year ago. Analysts were expecting revenue of $76-million and a loss of 2 cents in the latest quarter.
**
Stuart Olson Inc. (SOX-T) reported consolidated contract revenue of $265.9 -million in the first quarter, up from $220.1-million a year ago. Net earnings increased to $1.6 million or 6 cents per share, compared to a net loss of $200,000 or a penny per share a year ago. Analysts were expecting revenue of $248.9-million and earnings of 4 cents in the latest quarter.
**
Stelco Holdings Inc. (STLC-T) says its first-quarter revenue rose 25 per cent to $482-million in the first quarter compared to a year ago. “The period-over-period revenue increase was due to both higher shipping volumes and to a lesser extent higher average selling prices,” the company said. Net income was $28-million versus a loss of $17-million a year ago. Adjusted net income was $49-million in the latest quarter compared to $8-million a year earlier. Analysts were expecting revenue of $502.3-million and adjusted net income of $39-million in the latest quarter.
**
Russel Metals Inc. (RUS-T) appointed John Reid as CEO. “We are indebted to our retiring CEO, Brian Hedges for his leadership at Russel and for all that he’s done to support John Reid as he takes on his new role,” stated Russel chair Jim Dinning in a release.
**
Morguard Real Estate Investment Trust (MRT.UN-T) reported net income and comprehensive income of $17.6-million in the first quarter versus $37.9-million a year ago. “The decrease is largely the result of fair value changes,” the REIT states. Revenue from real estate properties was $69.3-million for the three months ended March 31, versus $71.3-million a year earlier. Analysts were expecting revenue of $67.1-million.
**
Kinaxis (KXS-T) reported revenue of US$35.9-million in the first quarter, up 10 per cent from a year ago. Profit was US$3.2-million or 12 cents per share, which was similar to a year ago. Under IFRS, revenue was US$36.8-million and profit was US$4.6-million or 17 cents in the most recent quarter. Analysts were expecting revenue of US$37.4-million and earnings of 15 cents in the latest quarter.
**
Tahoe Resources Inc. (THO-T; TAHO-N) reported revenue of $139.9-million in the first quarter, down from $251-million a year earlier. Its loss was $6.9-million or 2 cents per share versus income of $74.7-million or 24 cents a year ago. Analysts were expecting revenue of $139.2-million and earnings of 2 cents in the latest quarter.
On Thursday, Tahoe said there has been a resolution to the labour strike at its La Arena mine in Peru. “The concerns raised by the community of La Arena have also been addressed,” the company stated. “The discussions were completed independently with both groups and it was agreed by all parties that operations at La Arena should resume as soon as possible, as this is in the best interest of all stakeholders.” It said operations are expected to reach normal levels within the next 48 hours.
**
Hudbay Minerals Inc. (HBM-T; HBM-N) reported a net profit of US$41.4-million or 16 cents per share in the first quarter, compared to a net loss of US$10-million or 4 cents a year ago. Revenue was US$386.7-million up from US$261.8-million a year earlier. Analysts were expecting revenue of US$371-million and a profit of 19 cents in the latest quarter.
**
High Arctic Energy Services Inc. (HWO-T) says chief financial officer Brian Peters is leaving, effective May 18. High Arctic appointed board member James Hodgson to replace him.
**
GMP Capital Inc. (GMP-T) reported net income of $4.1-million or 4 cents per share in first quarter versus $3.5-million or 3 cents for the same quarter last year. Revenue of $52.5-million increased from $48.9-million.
**
TVA Group Inc. (TVA.B-T) says it recorded a net loss attributable to shareholders of $5-million or 12 cents per share in the first quarter, compared with a net loss attributable to shareholders of $8-million or 19 cents per share a year earlier. The expectation was for a loss of 16 cents in the latest quarter. Revenue came in at $133.8-million compared to $141.1-million a year earlier.
**
Resolute Forest Products Inc. (RFP-N; RFP-T) reported net income of $10-million or 11 cents per share in the first quarter, compared to a net loss of $47-million or 52 cents per share in the same period in 2017. Sales were $874-million, an increase of $2-million from the first quarter of 2017. Excluding special items, the company reported a profit of 18 cents per share, compared to a loss of 33 cents per share a year earlier. Analysts were expecting sales of $913.8-million and adjusted earnings of 20 cents per share.
**
Western Forest Products Inc. (WEF-T) says it has increased its quarterly dividend by 12.5 per cent to 2.25 cents per common share. The new rate will be paid on June 15, to shareholders of record at the close of business on June 1.
The company also reported revenue of $291.6-million in the first quarter compared to $287.7-million in the first quarter of 2017. Net income was $21.7-million or 5 cents per share compared to $16.2-million or 4 cents for the same period of 2017. “Improved revenue and operating margin drove an increased net income that was partly offset by export lumber taxes and higher operating restructuring items,” the company stated. Analysts were expecting revenue of $308-million and earnings of 7 cents per share.
**
Osisko Gold Royalties Ltd (OR-T; OR-N) reported revenue of $125.6-million in the first quarter versus $17.1-million a year earlier. Net earnings were $2.3-million or a penny per share versus earnings of $4-million or 4 cents for the same period last year. Analysts were expecting revenue of $121.5-million and earnings of 3 cents per share.