• 5:46 PM

    Vale (NYSE:VALE)’s common share price has declined 40% to $5.32 after peaking at $8.80 on May 5. Vale’s preferred shares now trade at only $4.48. We anticipate the steep fall in Vale’s share price is derivable to a 30% drop in the iron ore price to $44.60/tonne in just two weeks. We believe iron ore

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  • 5:39 PM

    On Tuesday, after market closed, listening to the fourth quarter conference call and reviewing the recent technical document for Bell Creek, we rate Lake Shore Gold Corp. (TSE:LSG) as “Sector Perform” and have downgraded our target price to $1.35 per share. Minor net asset value changes; lower near-term CF. We have adj. unit cost estimates,

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  • 6:06 PM

    Before market opened on Wednesday, WestJet Airlines Ltd (TSE:WJA) posted June traffic results and updated its second quarter guidance. June LF of 76.9% (down 50 basis points year-over-year) was a touch better than our expectations but was partially the by-product of a more price-driven traffic growth strategy (RPMs up 7%). ASMs were up 7.6% mainly

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  • 5:43 PM

    On Wednesday, before the market opened, Trevali Mining Corporation (TSE:TV) posted fourth quarter of 2014 financial results Tuesday after market close. Detailed production volumes had been earlier released. Fourth quarter of 2014 adj. EPS of -$0.01 and cash flow per share of -$0.01 were modestly below our estimates and consensus at $0.00 and $0.01, correspondingly.

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  • 5:32 PM

    On Thursday, before market opened, DragonWave (NASDAQ:DRWI) released first quarter results last night. Results remained in-line with updated outlook. Revenue of $26.3 million was in line with updated outlook of $27 million. EPS -$0.08 was in-line with our expectation for -$0.09. Two customers each represented more than 10% of revenue. Nokia comprised 52% of revenue,

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  • 5:19 PM

    On Tuesday, before the market opened, Vicwest Inc. (TSE:VIC) delivered fourth quarter of 2014 Adjusted EBITDA of $12.3 million in-line with our forecast of $12.9 million and ahead of consensus estimates of $10.1 million. Management noticed that the sale of Vicwest to Kingspan and Ag Growth for $12.70 per share is proceeding well. Shareholders have

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  • 5:29 PM

    After markets closed on Wednesday, we have started coverage on the common shares of Concordia Healthcare Corp. (TSE:CXR) with a “Sector Outperform” rating and a 12 months target price of $90.00 per share. Concordia’s preliminary strategic focus is to acquire products that generate durable cash flow, have some possible for growth, and have firmly established

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  • 5:13 PM

    During Intraday hours; Stornoway Diamond Corporation (TSE:SWY) declared that it has successfully finished the drawdown of the first $80 million tranche of its $250 million diamond stream; illustrating that construction of Renard remains on schedule and on budget. The timing of this payment is in-line with our modeling assumptions. Recall, as part of the C$946

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  • 4:53 PM

    We are raising Sabesp (BVMF: SBSP3) to “Sector Outperform” rating and raising our price target to R$22 (increased by 5%); while risk assessment remains “Medium”. First quarter reservoir inflows were good, in spite of readings in the Cantareira system that were yet lower than long-term averages. Overall, the main São Paulo (SP) reservoirs now demonstrate

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