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Mining & Metals
BMO Upgrades Trican Rating to Outperform, Raises Price Target to C$9.00 from C$7.00
BMO Capital Markets on Tuesday upgraded its rating on the shares of Trican Well Services (TCW.TO) to outperform from market perform and increased its price target to C$9.00 from C$7.00 following the oilfield-services company's first-quarter results.Trican's results exceeded expectations, with a pick-up in April activity driving results higher, BMO said.While BMO does not believe the strong quarter was commodity driven, BMO expects rising activity levels and pricing in the second half of 2026 and 2027 as producers look to increase spending."In our view, TCW's financial results hold some of the best torque to higher activity in the Western Canada Sedimentary Basin, while the pressure pumping supply/demand balance currently sits in a tight band," BMO said.Price: $7.51, Change: $+0.34, Percent Change: +4.74%
$TCW.TO
Mining & Metals
Globex Mining Enters Option Agreement on Its Ramp/Maude Lake Gold Property in Ontario
Globex Mining Enterprises (GMX.TO) entered an option agreement with 1001565486 Ontario Inc., on Globex's RAMP/Maude Lake gold property located southeast of the Timmins Ontario area, it said Tuesday.The company said Ontario Co. will pay $4.7 million in cash payments, $1.05 million in Ontario Inc. shares, and complete $6.0 million in exploration work expenditures on the Ramp/Maude Lake property over four years. At the end of the option agreement Globex will retain a 3% Gross Metal Royalty GMR royalty with a buy down to 2% GMR for $1.5 million, applicable to the property and an area of influence of one km around the property boundaries.The Ramp property, 100% owned by Globex Mining Enterprises, consists of mining rights comprised of 66 unpatented mining claims, 14 patented mining claims, and 3 mining leases totalling 1,792 hectares, 7 parcels of patented and leased surface rights totalling about 208 hectares are also included in the package, it said.Shares of the company were last seen unchanged at $2.27 on the Toronto Stock Exchange.
$GMX.TO
Mining & Metals
Stifel Canada Lifts NFI Group Price Target by $0.50 to $26.00
Stifel Canada has raised its price target on the shares of NFI Group (NFI.TO) by $0.50, to $26.00 after it updated its estimates following the company's first quarter results.In a note, analyst Daryl Young, who is maintaining a buy rating on the shares, said the first quarter was a solid start to the year, reflecting momentum in the manufacturing division, with profitability improving significantly.Bus deliveries were slower than expected, but management noted that April was very strong and that volumes should increase across the year, including with the ramp up of the All-Canadian build facility.Young believes NFI could surprise to the upside on margins across the back half of the year. Key issues around tariffs, seat supply, and battery recall all remain in check, he adds."Big picture, we think the worst is behind NFI, and expect to see valuation expansion across the year as it regains its execution track record."Price: $20.44, Change: $-0.09, Percent Change: -0.41%
$NFI.TO