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Iamgold’s Essakane gold mine in Burkina Faso.

Inside the Market's roundup of some of the Canadian small caps making news and on the move today. This post will be updated through the morning.

Peyto Exploration and Development Corp. announced a hike in its dividend late Wednesday as it reported earnings that were generally in line with market expectations.

The hike in its monthly dividend payments by 10 per cent to 11 cents per share commencing in November was its second increase this year and the third since the company converted into a corporation in 2010.

Dundee Securities analyst Geoff Ready called the dividend increase a "pleasant surprise" as he reiterated a "buy" rating and $41 (Canadian) price target after reviewing the latest results.

Peyto's third-quarter production was 77,592 barrels of oil equivalent per day, nearly matching Street estimates, while cash flow of $1.09 a share was 2 cents higher than consensus. Management also announced a preliminary $700-million to $750-million capital budget for 2015.

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Iamgold Corp. reported revenues of $341.5-million, up from $293.5-million a year ago, and beating the consensus estimate of $323.8-million. But its breakeven adjusted net earnings were down from EPS of 7 cents a year ago and missed Street expectations for 3.5 cents.

Iamgold also said it is on track to meet its 2014 gold production and cost guidance, with its forecast production range narrowed to 835,000 to 850,000, from 835,000 to 900,000. It also reduced its 2014 capital expenditures guidance by 10 per cent to $360-million, plus or minus 5 per cent.

Dundee Securities analyst Josh Wolfson called the results "slightly positive" but maintained a "sell" rating and $2.75 (Canadian) price target given that the company is consuming cash at current gold prices.

"Key to Iamgold's long-term outlook is the ability of the company to successfully ramp-up Westwood and sustain financial liquidity. While we continue to forecast material cash consumption at current gold prices (corporate fully loaded costs are $1,250-$1,300/oz), Westwood initial commercial production results and aggressive cost cutting measures in our view are incrementally positive," Mr. Wolfson said in a note.

Shares in the company were down 6 per cent in early afternoon trading.

Painted Pony Petroleum Ltd. announced it made a recent acquisition of land in the northeastern British Columbia Montney region as it reported its third-quarter results. Net income per share was 9 cents vs. breakeven a year ago, as revenue rose to $38.9-million from $25.5-million. The Street was expecting adjusted EPS of 6 cents.

The company also announced a $50-million bought deal equity financing.

Sprott Resource Corp. recorded a third-quarter net loss of $10.1-million, or $0.10 loss per share, compared to a net gain of $44.9-million, or $0.45 gain per share, a year earlier. The company's discount to net asset value widened to 25 per cent at the end of the quarter from 18 per cent a quarter earlier.

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Chemtrade Logistics Income Fund reported strong third-quarter 2014 results. Revenue in the quarter was $324.6-million, compared to $206.9-million in 2013, while EBITDA came in at $72.1-million. The company beat Street estimates for earnings ($304-million) and EBITDA ($63.5-million).

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Klondex Mines Ltd. reported third-quarter 2014 revenue of $38.0-million, missing Street expectations of $39.4-million. Earnings per share came in at $0.06, beating expectations of $0.04.

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Computer Modelling Group Ltd. reported its fiscal second-quarter results, with earnings per share of 9 cents rising from 7 cents a year ago and revenues rising to $19.731-million from $17.184-million.

Acumen Capital Research analyst Brian Pow said the results were generally in line with his estimates and he raised his price target to $14.80 from $14.50. "We think the recent sell off has been misguided and once again has created a long-term buying opportunity," he said.

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Spartan Energy Corp. reported it achieved record average production of 7,399 barrels of oil equivalent a day in the third quarter, up 16 per cent from the previous quarter. It also made an upward revision to where it expects production to be at the end of this year.

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Chorus Aviation Inc. reported EBITDA of $56.2-million compared to $55.8-million in the same quarter 2013. Adjusted net income of $29.0-million or $0.24 per basic share was up by $1.3-million or $0.01 per basic share over the third quarter 2013.

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Crombie Real Estate Investment Trust reported adjusted funds from operations in the third quarter was 23 cents per unit, down a penny from a year ago. Property revenue rose to $87.796-million from $71.161-million a year ago.

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Fiera Capital Corp. reported its third-quarter results, with assets under management rising by $2.8-billion, or 3 per cent, to $84.9-billion. Adjusted net earnings were 21 cents per share, versus 16 cents a year ago.

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EnerCare Inc. reported its third-quarter revenues rose 4 per cent to $80.469-million. Adjusted EBITDA fell to $41.044-million from $43.184-million, which was close to market expectations.

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Claude Resources Inc. announced the appointment of Brian Skanderbeg as its new president and CEO. He was previously chief operating officer.

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Primero Mining Corp. said it has discovered a new high-grade vein at its San Dimas mine and a new ore shoot at its Ventanas property.

"We have extended the known mineralization in one of our largest producing veins at San Dimas, beyond a minor fault that was historically considered its limit. This improves knowledge of the vein extensions eastward in the central block and is important to the mine life of our platform San Dimas mine. We also discovered a new vein in the west block, which encourages our geologists that this area of the mine will continue to expand as we continue to invest in exploration. Our strategy at San Dimas remains focused on exploring for high-grade mineralization in close proximity to existing infrastructure in order to minimize the time between discovery and inclusion in the mine plan. In addition, we are very pleased with the exploration results from Ventanas, an exploration property close to the San Dimas mine. With further success this property could ultimately deliver additional ore to the expanded San Dimas mill," CEO Joseph Conway said.

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Golden Star Resource Ltd. said it is in discussions with "a number of providers of capital to secure the funding necessary" to develop its Prestea project.

"The high grade nature of the deposit at Prestea's West Reef is truly remarkable and offers us the opportunity to mine at exceptionally low cash costs per ounce. With the infrastructure of haul roads and a processing plant already in place, the capital requirements to bring Prestea into production are also relatively low. This makes the project ideally suited to our strategy to transform Golden Star into a low cost producer. Once production from the West Reef is attained, I am confident that we will be able to extend the life of mine materially. As such, I believe that this project offers us the opportunity to reduce the company's cash operating costs over the long term to the benefit of enhanced returns to our shareholders," CEO Sam Coetzer said.

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Alterra Power Corp. said net income was $2.4-million, compared with $16.4-million earlier. "This change is largely due to insurance proceeds received in the comparative quarter at Toba Montrose and changes in non-cash items," the company said in a statement.

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Birchcliff Energy Ltd. said it expects 2015 exit production to be between 48,000 and 50,000 boe per day. "The capital expenditure required to achieve this production target is expected to be between $450-million to $500-million, which includes approximately $110-million for infrastructure," the company said. Net income to common shareholders was $28.7-million or $0.19 per common share, an increase of 213 per cent and 217 per cent respectively, from the third quarter of 2013.  Birchcliff also confirmed  its 2014 exit production rate guidance of 40,000 boe per day.

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Artek Exploration Ltd. said it is currently completing two Inga Doig wells as well as drilling a Montney well and a Doig well in the Fireweed area. "Artek expects to have all four remaining wells on-stream by year-end and meeting its exit guidance of 5,500 to 5,600 boe/d (40 per cent liquids). Average production for 2014 is forecast to be approximately 4,200 to 4,250 boe/d (39 per cent liquids). "

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SilverCrest Mines Inc. said net earnings were $0.2-million ($0.00 per share) for the third quarter, compared with $3.7-million ($0.03 per share) in 2013. "The earnings decrease is primarily attributed to declining realized metal prices and the accounting requirement to capitalize sales of silver and gold ounces and related expenses while SilverCrest's expansion assets were being commissioned. During the third quarter, SilverCrest capitalized sales of $7.5 million, or 48 per cent of its total $15.5-million third quarter sales," the company said.

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