Sector Outperform

  • 1:11 PM

    August 12, 2016: Algonquin Power & Utilities Corp. (AQN) announced another solid quarter early in morning, before market opened. Algonquin reported what consensus anticipated being a solid Q2 2016. The adjusted EPS of $0.10 remained marginally ahead of $0.09 street estimate as its core utilities performed far better than expected, which was partially offset by

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  • 10:04 PM

    On this Tuesday, Oracle reported better-than-expected fiscal third quarter earnings, but fell short of revenue projections. The firm delivered non-GAAP third quarter earnings of 64 cents a share on revenue of $9 billion. Net income for the quarter remained $2.14 billion (50 cents a share). Larry Ellison, Oracle executive chairman and CTO said “In absolute

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  • 5:39 AM

    Thompson Creek Metals Company Inc. (NYSE:TC) released satisfactory second quarter operating results for its Mt. Milligan copper-gold mine during market trading hours. The ramp-up at Mt Milligan made material progress in the quarter (second quarter is the seventh full quarter of operation), as the mine produced (on a payable basis) 20.2 million lbs of copper

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  • 10:20 AM

    Recently the management team of Ag Growth International Inc. (TSE:AFN) visited Toronto to meet with institutional investors. We summarize the key discussion points. Westeel acquisition integration is progressing well. Company remains confident that it will realize its forecasted $5 million of near-term EBITDA synergies (roughly split 50/50 between revenue and cost synergies). In June 2015,

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  • 7:08 AM

    Following approval of the Environmental Impact Assessment (EIA) for its 70%-owned Santo Domingo project obtained on the plans outlined in the 2014 Feasibility Study (FS), Capstone Mining Corp. (TSE:CS) is continuing to evaluate the project within the stage-gate approach re-scoped given market conditions. As the original plan for SD prioritized copper recovery over iron, we

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  • 6:04 PM

    After market closed, MTY Food Group (TSE:MTY) posted second quarter Revenues of $38.4 million, EBITDA of $13.4 million and EPS of $0.44 versus our estimates of $35.5 million, $10.9 million and $0.33 versus consensus of $34.3 million, $12.0 million and $0.37 respectively. The solid earnings were largely the result of higher than anticipated ($1.5 million)

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  • 6:02 PM

    For Horizon North Logistics (TSE:HNL), we are off restriction following the completion of its $80.6 million bought deal, which includes 15% overallotment option at $3.75 per share. We are reiterating our 12 months price target of $4.00 and maintain “Sector Outperform” rating as of now. We see company financing in expectation of LNG opportunities. Following

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  • 5:54 PM

    Before market opened on Wednesday; SEMAFO (TSE:SMF) released an revised NI 43-101 resource forecast for the recently acquired Natougou Au deposit in Burkina Faso. We reiterate our “Sector Outperform” rating on SEMAFO shares and our 12 months target price of C$5.50. Our risk assessment remains “Speculative”. The revised resource forecast includes an Indicated resource of

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  • 5:57 PM

    We are unconvinced by The Mosaic Company (NYSE:MOS)’s arguments that potash concerns are overblown, but more bullish on phosphate. We didn’t appreciate net closures of Chinese P capacity and therefore, why MOS/CRU is now looking for annual decreases in Chinese P exports. They are calling 2014 peak Chinese exports, which is clearly bullish. If higher

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