Financial News · Live Terminal

Page 112 of 215

Neo Performance Materials Maintained at Buy at Stifel Canada After Q1 Results; Price Target Raised to C$38.00

Stifel Canada on Wednesday reiterated its buy rating on the shares of Neo Performance Materials (NEO.TO) while raising its price target to C$38.00 from C$26.00 following the company's first-quarter results."NEO's 1Q26 EBITDA beat consensus by 89% while its midpoint 2026E EBITDA guidance was raised by 35% to $105 mm. In our view, the updated guidance only reflects a strong 2Q26E and does not assume any positive impact from elevated rare metals prices in 2H26E. We believe investor concerns around working capital build is overdone, as NEO's business model allows for inventory to be passed through to customers with a margin and there is little risk of negative financial impact. Key catalysts include: (1) sanctioning of Estonia Phase 1B; (2) further details on the Estonia HRE expansion; and (3) additional debottlenecking in Magnequench at Korat, Thailand. We are increasing our target price to $38.00/sh due to a 17% increase in our 2027E EBITDA and expanding our target EV/EBITDA multiple to 12.0x (prior: 10.0x)," analyst Ian Gillies wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $31.01, Change: $+0.50, Percent Change: +1.64%

$NEO.TO

Mining & Metals47d ago

Exchange Income Upgraded to Outperform at BMO, Price Target Lifted to $120.00

BMO Capital Markets upgraded its rating on the shares of Exchange Income (EIF.TO) to outperform from market perform and raised its price target to $120.00 from $111.00 following the company's first-quarter results.While acknowledging the investment is "not without risk," analyst Michael Goldies said given the stock's rapid expansion of valuation multiples, the company has a set of clear catalysts and tailwinds to support go-forward share price performance. He also sees these opportunities as being multi-year and multi-segment.Goldie has also lifted Exchange Income's 2026 EPS estimate to $4.45 from $3.98 and 2027 to $5.02 from $4.65.Price: $107.04, Change: $+2.68, Percent Change: +2.57%

$EIF.TO

Mining & Metals47d ago

CIBC Confirms Neutral Rating on Pet Valu and Cuts It Price Target to $22.00 on Q1 Results

CIBC Capital Markets maintained its neutral rating on the shares of Pet Valu Holdings (PET.TO) and lowered its price target to C$22.00 from $28.00 after the company reported its first quarter-financial results on Tuesday.The bank said the core issue is "macro as opposed to execution, though PET's price/promo positioning remains a headwind." CIBC reduced its earnings forecasts in line with management's updated outlook and now forecasts 10% growth in 2027."Though we believe valuation reflects substantial pessimism, we do not see a visible catalyst to push shares higher in the near-term (outside of a privatization)," said analyst Mark Petrie. "While there are understandable explanations for the pressures, we believe it will take PET some time to re-build investor confidence in medium-term growth potential."The bank also reduced its target multiple on the company to 13x, taking its price target to C$22.00."We have never been of the view that PET was a particularly strong fit with a strategic acquirer (such as CTC or EMP), but given the share price and compressed valuation, it could be an attractive target for a financial sponsor that could cut costs and push it into a franchise," added Petrie.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $17.27, Change: $+0.27, Percent Change: +1.59%

$PET.TO

Mining & Metals47d ago

RBC Maintains Ovintiv's Outperform Rating, US$70.00 Price Target

RBC Capital Markets on Tuesday reiterated its outperform rating on the shares of Ovintiv (OVV.TO., OVV) and its US$70.00 price target following first-quarter results from the oil and gas producer.Ovintiv delivered solid first-quarter results and streamlined its portfolio around the Montney and Permian basins, according to RBC.The company has emerged as one of the largest condensate producers in Canada, the constructive pricing outlook for which reflects ongoing oil sands growth and a supply deficit, RBC said."In our eyes, Ovintiv's streamlined portfolio, resource depth and enhanced shareholder returns point toward ongoing share price appreciation and relative multiple expansion over time," analyst Greg Pardy said."That the company's strong well performance in the Montney will offset higher royalties-while its ongoing efficiency gains are set to neuter inflationary pressures-in 2026 is also bullish in our books," Pardy added.Price: $78.60, Change: $-0.99, Percent Change: -1.24%

$OVV$OVV.TO

Mining & Metals47d ago

Getty Copper Adds Second Drill Rig and Applies to List on the OTCQX Market

Getty Copper (GTC.V) on Wednesday said it added a second drill rig to its ongoing spring drilling program at the Getty Project in British Columbia and began the application process to list its shares on the OTCQX Best Market.The two drill rigs are now in operation on site, as the company "aggressively moves forward" with its drilling program, focused initially at Getty North, said the company and added that over 3,000 meters of drilling have been completed to date.The program is part of Getty's two-pronged resource and exploration-focused strategy in the district, with the primary goal of expanding and confirming the resource potential at both the Getty North and Getty South deposits, said the company.The listing of the company's shares on the OTCQX remains subject to the approval of the OTC Markets Group and the satisfaction of applicable listing requirements, stated the company and added that it will continue to trade on the TSX Venture Exchange as its primary listing."As we ramp up 2026 drilling activities, increasing our accessibility to U.S. investors is a high priority," said Chief Executive Officer Ryan O'Regan. "The OTCQX is a recognized market that requires companies to be current in their reporting and undergo an annual verification process, which we believe will provide our stakeholders with greater confidence and improved liquidity."The company's shares were last seen up $0.005 to $0.18 on the TSX Venture Exchange.Price: $0.18, Change: $+0.01, Percent Change: +2.86%

$GTC.V

Mining & Metals47d ago

Pet Valu Holdings Price Target Cut to $23.00 After Q1 Miss

Stifel Canada has cut its price target on the shares of Pet Valu Holdings (PET.TO) by $9.00 to $23.00 after the company reported a first-quarter earnings miss.Analyst Martin Landry, who is maintaining a buy rating on the shares, believes Pet Valu is negatively impacted by macroeconomic events rather than company specific issues. Consumer confidence has lagged in recent months, as inflationary pressure impacts discretionary spending. Still, the pet-food industry has resilient characteristics and Pet Valu seems to be gaining market share according to management, he writes. Pet Valu has an 18% market share, 300bps higher than the next competitor.If the Iran conflict gets resolved, consumer confidence could return and fuel costs could abate, Landry adds. He is lowering his 2026 earnings per share forecast to $1.57, down 2% Y/Y, and flat when removing the extra week in 2025.The revised price target reflects lower valuation multiples and lower forecast.Price: $17.02, Change: $+0.02, Percent Change: +0.12%

$PET.TO

Mining & Metals47d ago

Red Light Holland Receives Shareholder Approval of Name Change; Keith Li to Resign as CFO

Red Light Holland's (TRIP.CN) shareholders approved its proposed corporate name change at its annual general and special meeting held on May 11, at its office in Toronto, it said Wednesday.The company said it is continuing to evaluate and finalize its new corporate name and will announce the effective date of the name change once finalized with the applicable regulatory authorities and the Canadian Securities Exchange. Red Light Holland also announced that Keith Li, its Chief Financial Officer, provided notice of his intention to resign from his position as CFO.Li agreed to stay on until a new CFO is named, and has assured the company he will provide assistance until the completion of the company's annual audit and, as well, to assist the company in the recruitment and training of his successor, it said.Shares of the company were last up 12% at $0.045 on the Canadian Securities Exchange.

$TRIP.CN

Mining & Metals47d ago

UBS Maintains Neutral Rating, US$12.00 Price Target on Canada Goose

UBS is maintaining its neutral rating and US$12.00 price target on the shares of Canada Goose (GOOS.TO) ahead of the luxury outerwear retailer reporting its fiscal fourth-quarter results on May 14.UBS Quant Team's data shows GOOS' crowding score is modestly below the industry average. The stock is also down 15.4% YTD vs. the S&P 500's +8% move. At the same time, GOOS' FY2 P/E multiple is roughly 1-turn above its past 3-year average."Overall, we believe sentiment leans slightly bearish and our conversations with investors suggests the same," UBS writes.Price: $14.88, Change: $-0.14, Percent Change: -0.93%

$GOOS.TO

Mining & Metals47d ago

RBC Lifts Trican Well Service's Price Target to C$8.50 from C$7.50

RBC Capital Markets on Tuesday raised Trican Well Service's (TCW.TO) price target to C$8.50 from $7.50 with a sector perform rating.Trican's first-quarter results were slightly better than expectations, including adjusted EBITDA of $70.1 million that was in between RBC's estimate of $67.9 million and the Street consensus of $72.2 million.RBC increased its 2026 and 2027 EBITDA estimates for Trican following the company's first-quarter performance."We continue to see Trican as a leading Canadian service provider, with strong offerings in pressure pumping and cementing, but see stronger relative opportunity in select US pressure pumpers at present," RBC said.Trican traded at $7.72 per share at last look Wednesday on the Toronto Stock Exchange.Price: $7.74, Change: $+0.16, Percent Change: +2.11%

$TCW.TO

Mining & Metals47d ago

MiniLuxe Holding Announces Non-Brokered Private Placement of US$3.5 Million to US$5 Million

MiniLuxe Holding (MNLX.V) announced a non-brokered private placement of Class A subordinate voting shares on Wednesday.The subordinate voting shares will be offered at a price of US$0.58 each for gross proceeds of between US$3.5 million and US$5 million with a midpoint of the range as its target, said the company and added that the private placement has already signed commitments that exceed its threshold range of US$3.5 million.A closing of the offering is expected by June 5, or such other date as the investors and the company may agree upon and is subject to the completion of formal documentation and the company receiving all necessary regulatory approvals, including the final approval of the TSXV, added the company.The proceeds will be used to fund growth initiatives especially the opening of new studios and providing the flexibility to take on new strategic acquisitions or JV (joint venture) locations, said the company."We are humbled and grateful to have found partners who represent strategic capital that comes alongside proven track records of executing and scaling growth businesses," said Tony Tjan, Chief Executive Officer of MiniLuxe. "Across its recent private placements, the Company has been selective in finding partners with the disposition and capacity to be long-term oriented and with the capability to take an independent view of the intrinsic value of the business."The company's shares were last seen unchanged at $0.295 on the TSX Venture Exchange.

$MNLX.V

Mining & Metals47d ago

Update: AtkinsRealis to Buy Ireland-Based Firm TOBIN; Signs 20-Year Agreement for Engineering Services With First American Nuclear

(Updates to add acquisition of TOBIN and shares)AtkinsRealis Group (ATRL.TO) entered into a definitive agreement to acquire Patrick J Tobin & Co. Ltd. (TOBIN), a leading Irish engineering and project management consultancy firm, it said Wednesday. No financial details were given."The acquisition supports AtkinsRealis' growth strategy in Ireland, further strengthening its local footprint to over 700 employees and bolstering its capabilities to support Ireland's ambitious program of infrastructure development," the company said in a statement.Meanwhile, earlier Wednesday, the company also signed a Strategic Alliance agreement with First American Nuclear (FANCO) whereby the company will act as the exclusive engineering, procurement, and construction management (EPCM) provider for EAGL-1 small modular reactor (SMR) projects in North America.Work has begun on the task orders, and the agreement contemplates services worth up to $250 million over the first five years, it said. Under the first task orders, AtkinsRealis will prepare procedures and policies required to do design work, such as a quality program and engineering procedures.The company will also undertake the conceptual design for the balance of plant and review the design of the nuclear steam supply system.Shares of the company were last seen down 0.9% at $88.12 on the Toronto Stock Exchange.Price: $87.79, Change: $-1.11, Percent Change: -1.25%

$ATRL.TO

Mining & Metals47d ago

Finlay Minerals Details Fully Funded 2026 Exploration Programs at PIL and ATTY; Involves Freeport

Finlay Minerals (FYL.V) announced Wednesday a fully funded $4.3 million 2026 exploration program for its PIL and ATTY properties in the Toodoggone District pursuant to its earn-in agreements with Freeport-McMoRan Mineral Properties Canada Inc.Building on a "highly successful" 2025 field season that generated multiple priority targets, the 2026 program is designed to advance drilling at PIL and continue systematic fieldwork at ATTY, "underscoring the scale and discovery potential of both properties", the company said.The 2026 program at PIL will focus on drilling the highest-priority targets generated in 2025, particularly Reef, PIL South and Gold, and at ATTY, planned work will continue to refine targets through induced polarization (IP) surveying, mapping and surface sampling, it added.The company also reported receipt of all Year 1 cash payments and completion of all Year 2 expenditures by Freeport. Both the PIL and ATTY Earn-In Agreements "remain in good standing" and are now in Year 2 of their 6-year terms, providing Finlay with a "strong foundation for continued advancement of these highly prospective assets", it said..Shares of the company closed unchanged at $0.10 on Tuesday on the TSX Venture Exchange.

$FYL.V

Mining & Metals47d ago

International Tower Hill Mines Awards Feasibility Study Contracts for Livengood Project in Alaska

International Tower Hill Mines (ITH.TO) has awarded contracts for a phase-one feasibility study on the Livengood gold project in Alaska, the company said Wednesday.The company appointed a consortium comprising BBA Consultants USA LP, Hatch, Newfields Mining Design and Technical Services, Resource Development Associates and JDS Energy and Mining to lead the study.Alloy Drilling has also commenced core drilling to support the feasibility study.The metallurgical testwork on this fresh core will focus on evaluating opportunities to enhance gold recoveries and overall project economics amid higher gold prices, the company said.Price: $3.72, Change: $-0.18, Percent Change: -4.62%

$ITH.TO

Mining & Metals47d ago

TSX Down Near 150 Pts After Three Successive Days of Gains

S&P/TSX CompositeS&P/TSX Composite

Mining & Metals47d ago

Globex Options Carp Fluorspar Project in Nevada to Australia's Evion Group

Globex Mining Enterprises (GMX.TO) has granted Australia-based Evion Group an option to acquire the Carp fluorspar property in Nevada, Globex said Wednesday.Under the terms, Evion would pay US$1.645 million in cash payments, US$2.0 million in shares, and complete $3.75 million in work expenditures over four years to earn a 100% interest in the property.Globex will retain a 3% gross metal royalty (with no buy down) on the property, including a 10-mile area of influence upon which the royalty will apply.

$GMX.TO

Mining & Metals47d ago

FRNT Financial Initiates Strategic Alternatives Review After "Multiple" Approaches

FRNT Financial's (FRNT.V) board of directors has initiated a formal review of strategic alternatives "intended to maximize shareholder value", the company said on Wednesday, adding it has been approached on "multiple occasions" regarding potential transactions over the past nine months."Though none were ultimately consummated, the frequency, nature, and progression of these approaches have led the board to conclude that there is meaningful realizable value in the Company that may not fully reflect its inherent or strategic value, and that a structured process is the appropriate means to evaluate and capture that value on behalf of all shareholders," it said.The company will consider a broad range of alternatives, as part of the strategic review, including, but not limited to, an uplisting to a senior exchange, strategic investments, mergers, acquisitions, divestitures, a going-private transaction, a business combination, and the continued execution of the company's existing standalone business plan, the company added.In connection with the strategic review, the company has engaged Joseph Gunnar & Co., LLC to act as financial advisor to the company. "FRNT cautions that such engagement should not be viewed as an indication that any specific process or transaction will be pursued," it said. "There can be no assurance that the Strategic Review will result in any transaction or any particular outcome, and the Company does not intend to comment further on the process unless and until the Board has approved a specific transaction or otherwise determines that further disclosure is appropriate or required."The strategic review is ongoing, and the company has not set a definitive timetable for its completion, it added. "After a difficult period for the crypto-industry, our informal and formal conversations over the last months have shown an investor readiness to scale FRNT, rerate the business, and capture new emerging opportunities," said CEO Stephane Ouellette. "With institutional tokenization finally emerging as a monetizable opportunity, the proliferation of institutional blockchain-based payments, and regulatory commitments giving investors more confidence, we believe this is the perfect time to investigate partners for the next chapter of FRNT's story and growth."Shares in FRNT fell 12% in Canada yesterday.

$FRNT.V

Mining & Metals47d ago

AtkinsRealis Buying Ireland-based engineering and project management consultancy firm TOBIN

$ATRL.TO

Mining & Metals47d ago

Power Metallic Employing New Tomography Imaging Program at Lion Zone Discovery

Power Metallic (PNPN.V) has engaged Ideon Technologies to activate a borehole muon tomography imaging program at the Lion Zone discovery within the Nisk project in Quebec, the company said on Wednesday.The Ideon REVEAL solution will generate a high-resolution, three-dimensional density model of the rock composition in and around the Lion deposit, a statement said.The program is structured in two stages: first, validating the Ideon density model against Power Metallic's existing 100-plus hole drill dataset at Lion; then applying the calibrated mineralization fingerprint to rank and test deep targets across the 330 km Nisk district scale property that are below 200 metres, the detection limit of conventional surface-based geophysical methods.The survey will map the density of over 55 million cubic metres of rock volume. The imaging program is planned to run for six months, with the option to extend to eight months if needed to optimize resolution and establish the Lion Zone ore signature. The end result will be a three-dimensional density model of the deposit.Power Metallic shares closed unchanged at $1.48 on Tuesday on the Toronto Stock Exchange.

$PNPN.V

Mining & Metals47d ago

Orosur Mining Provides Positive Drill Results from Pepas West Prospect in Colombia

Orosur Mining (OMI.V) provided Wednesday positive drill results from the Pepas West prospect within the Anza project in Colombia.Highlights include 16.1 meters at 2.68 grams per tonne gold (g/t), 21.7 m at 1.42 g/t gold and 9.8 m at 1.41 g/t gold.Results were highly encouraging with thick intersections of shallow gold mineralization being recorded, Orosur said.Orosur's rig is currently drilling south of Pepas, and will return to Pepas West in several weeks, the company said.

$OMI.V

Mining & Metals47d ago

Update: Equinox Gold, Orla Mining Agree to Combine in Cash-and-Stock Deal to Create Senior Gold Producer

(Adding commentary from Wedbush in the second paragraph and share prices in the third paragraph)Equinox Gold (EQX.TO) and Orla Mining (OLA.TO) have entered into an agreement to combine into a new North American senior gold producer under the name of Equinox Gold, the companies said on Wednesday.According to Wedbush in a 'Special Situations' note published a short time ago, the stock should trade well near-term as the market prices in the re-rating from mid-tier to senior producer status, with the primary risk being gold price reversion and Mexican regulatory complexity around Camino Rojo/Los Filos.At last look, EQX was down 2.7% and ORLA down 0.8% in US premarket trade.Under the agreement, Equinox Gold will acquire all of Orla's issued and outstanding shares. Orla shareholders stand to receive 1.00 Equinox Gold common share and a nominal cash payment of $0.0001 for each Orla common share held prior to the effective time of the transaction.At deal completion, existing Equinox Gold shareholders and former Orla shareholders will own about 67% and 33% of the outstanding common shares of the combined company, respectively.The combined company will have about 1.1 million ounces of expected annual gold production and an implied market capitalization of US$18.5 billion.It will be anchored by three long-life Canadian gold mines, with a clear path to more than 1.9 million ounces of annual gold production from an internally funded North American growth pipeline.The combined company will be led by executives and directors from both Equinox Gold and Orla. Equinox Gold's chief executive officer, Darren Hall, will remain as CEO. Orla's president and CEO, Jason Simpson, will join Equinox Gold's leadership team as president.The board of directors of the combined company will consist of 11 directors, with Chuck Jeannes as chair, along with six directors from Equinox Gold and an additional four directors from Orla.The transaction will require approval by 66.67% of the votes cast by the shareholders of Orla at a special shareholders meeting expected to be held in July.The issuance of Equinox Gold common shares is subject to approval by the company's shareholders by a simple majority of the votes cast at a special shareholders meeting also scheduled for July.The board of directors of each of the companies have each unanimously approved the transaction and recommend that their respective shareholders vote in favor of the deal.The deal is expected to close in the third quarter, subject to the satisfaction of certain closing conditions.

$EQX.TO$OLA.TO

Showing 2221-2240 of 4296

Mining & Metals47d ago

Update: Equinox Gold, Orla Mining Agree to Combine in Cash-and-Stock Deal to Create Senior Gold Producer

$EQX.TO$OLA.TO