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Argo Gold Receives a Mineral Exploration Permit For The Uchi Gold Project

Argo Gold (ARQ.CN) on Thursday said it received a mineral-exploration permit for the Uchi Gold project in northwestern Ontario.The company said its 2021 exploration program at the 25-square kilometer property extended the strike length of the mineralized zones at Woco to 400 meters, at Northgate to 500 meters and at Raingold a new zone of mineralization was identified 100 meters east of Raingold. Drill results at Woco include 132.3 grams per tonne (g/t) gold (Au) over 1.8 meters at 88 meters and 20.4 g/t Au over 0.5 meters at 107 meters.It also said that at Northgate, the known gold mineralization has a strike length of about 500 meters. Drill hole AGN-21-024 intersected 26.26 g/t Au over 2.65 meters, drill hole AGN-21-025 intersected 9.24 g/t Au over 0.95 meters and drill hole AGN-21-30 located 225 meters northeast of the main Northgate area intersected 22.7 g/t Au over 1.15 meters.Shares of the company were last seen up $0.005 to $0.09 on the Canadian Securities Exchange.

$ARQ.CN

Mining & Metals113d ago

Stifel Canada Maintains Buy Rating, $11.00 Price Target on Vitalhub After Novari Contract

Stifel Canada is maintaining its buy rating and $11.00 price target on the shares of Vitalhub (VHI.TO) after the company said this week that Novari Health, a Vitalhub company, had been awarded a multi-year, multi-million dollar contract award with Ontario Health.Analyst Justin Keywood views the news positively and says the contract advances management's organic growth goals, while Vitalhub's $119-million net cash balance allows it to remain patient in acquiring the right assets."We see VHI as a relatively cheap growth stock, though we expect upcoming quarters to demonstrate management's growth targets (12-13% 2026 organic ARR growth, 10% inorganic) and progress toward 30% adj. EBITDA margins as key in and having investors revisit the story."Price: $8.16, Change: $+0.12, Percent Change: +1.49%

$VHI.TO

Mining & Metals113d ago

Amex Exploration Begins 15,000-Meter Drill Program at Perron West in Ontario

Amex Exploration (AMX.V) on Thursday provided derails on it maiden, 15,000-meter drill program on the Perron West Project in Ontario.The company said that pad construction "progressed well" over the past weeks and that the first of two drill rigs has arrived on site, been mobilized to its first pad and begun drilling.It added that a second drill rig is expected to arrive on site in coming days, which is in addition to the on-going drill program on the original Perron Project in Quebec.In a statement the company noted that, among the many targets to be tested, the first drill will begin in the Target Area A, where Amex will test for a potential repetition of a rhyolitic block to the west of the Patten Pluton."The rhyolitic Beaupre Block in Quebec is currently host to the vast majority of Amex's mineralization and therefore any repeats of this geological environment represent prime regional exploration targets for the company," it added.The company's shares were last seen down $0.03 to $4.98 on the TSX Venture Exchange.Price: $4.98, Change: $-0.03, Percent Change: -0.60%

$AMX.V

Mining & Metals113d ago

Stifel Canada Maintains Buy Rating, $1.00 Price Target on Volatus After NATO-Allied Contract Win

Stifel Canada is maintaining a buy rating and $1.00 price target on Volatus Aerospace (FLT.TO) after the company this week secured a $2.1-million contract to provide specialized training to a NATO-allied government ministry.Volatus will deliver a portfolio of advanced training programs tailored for security and law enforcement personnel in mission-critical environments. The win is consistent with Stifel's investment thesis and further validates Volatus as a trusted NATO-aligned defense training partner."In our view, this win builds momentum toward Volatus being recognized as a Sovereign Champion for Canada, as it demonstrates the company's ability to deliver sovereign capabilities such as defence training to Canada's NATO + allies. This is directly aligned with Canada's objective of being a reliable sovereign partner to allied nations, a role Volatus is already fulfilling today," writes analyst Greg MacDonald.Price: $0.72, Change: $+0.02, Percent Change: +2.86%

$FLT.TO

Mining & Metals113d ago

BRS Resources Provides an Update on Drilling at the Cowtrail Copper-Gold Project

BRS Resources (BRS.CN) on Thursday detailed its exploration plan for 2026 for the Cowtrail porphyry copper-gold project located in the Cariboo region of British Columbia and optioned from Cariboo Rose Resources (CRB.V).The company plans 1,500 to 2,000 meters of diamond drilling is planned this year in the Lea Lake target area.BRS said "significant" drill intercepts to move forward from this year at Lea Lake include CT23-16 with 0.15% copper and 0.12 grams per tonne (g/t) gold over 105.0 meters and CT25-23 with 0.20% copper and 0.1 g/t gold over 70.0 meters. Further geophysics are also planned, it added.BRS signed a four-year option agreement to earn a 60% stake in the Cowtrail project in 2022 for $0.4 million in cash and $2 million of exploration spending.BRS shares last traded Apr. 13, closing at $0.23 on the Canadian Securities Exchange.

$BRS.CN$CRB.V$VCU.V

Mining & Metals113d ago

Martinrea International Maintains Its 2026 Outlook

Martinrea International (MRE.TO) on Thursday said it is maintaining its full-year 2026 outlook following the amendment of Section 232 tariffs on Steel, Aluminum and Copper imports into the United States, which came into effect on April 6.The company said it expects no impact to its business as a result of the Section 232 tariff amendments, as auto parts are covered under a separate agreement, and its parts, which are USMCA-compliant, remain exempt from tariffs."The company is subject to tariffs on certain imports of raw material inputs (i.e., steel and aluminum derivative products) that may be impacted by the recent amendments," added the company. "However, any adverse impact is expected to be modest, and absorbed by its customers, or otherwise mitigated."The company's shares were last seen up $0.23 to $9.18 on the Toronto Stock Exchange.Price: $9.18, Change: $+0.23, Percent Change: +2.57%

$MRE.TO

Mining & Metals113d ago

Scotiabank Comments on the Canadian Dollar, Oil Decoupling

The relationship between the Canadian dollar (CAD) and oil prices has weakened "materially" over the past decade, and the current episode is no exception, said Scotiabank.Despite a sharp rise in oil prices amid the Iran war, the CAD response has been largely muted, noted the bank.The apparent decoupling does not imply the relationship has disappeared, stated Scotiabank. There remains a meaningful underlying link between oil and the CAD, but not all oil shocks matter equally.The bank's analysis showed the CAD responds significantly more to demand-driven oil price increases than to supply-driven ones.Once the source of oil price movements is taken into account, the decoupling is largely explained, according to Scotiabank. Controlling for oil supply versus demand shocks, alongside interest-rate differentials and broad US dollar (USD) dynamics, fully accounts for the decline in the oil-CAD correlation, without the need to invoke time-varying elasticities or structural breaks.The CAD upside remains limited in supply-led oil rallies, added the bank. By and large, the combination of supply-driven oil gains, weak global demand, and US dollar safe-haven flows argues for a subdued CAD response in the current environment.

$CAD$CXY$USD

Mining & Metals113d ago

TSX Down 20 Points at Midday With Most Sectors Higher

The Toronto Stock Exchange is down 20 points at midday, with most sectors in the green.Telecoms and info tech the best performers, up 1.5% and 1.3%, respectively.In Canada, the focus was on the release of existing home sales data for March."Clearly, the market continues to struggle amid several headwinds, including soft job markets, economic uncertainty, falling population growth, and strained affordability," TD Economics said after a "soft" performance in Canadian home sales for March, following four straight monthly declines. TD added: "With these challenges in place, 2026 is shaping up to be another modest year for Canadian housing. Loose supply/demand balances should keep downwardly pressuring prices in B.C. and Ontario. Elsewhere, price growth should be firmer, but likely cool as the year progresses."New listings were also flat during the month. With new listings and sales both barely moving, the sales-to-new listings ratio stayed at 47.8% in March. "This is well below the long-term average and signals modest price growth moving forward", TD said.Average home prices were also flat in March, while the MLS home price index, a more 'like for like' measure, declined 0.4% m/m, and was down 4.7% on a year-on-year basis. Prices for detached units were down 0.3% m/m, while condo prices fell 0.9% m/m.The Canadian Real Estate Association (CREA) on Thursday cut its home sales growth forecasts for this year amid a "tepid" start to the year for the economy and higher odds of a Bank of Canada rate hike later this year to tame inflation resulting from the oil price spike. Some 474,972 residential properties are forecast to be sold in 2026, a 1% increase over 2025, CREA wrote. This is below the 5.1% increase forecast that it released in January. The national average home price is forecast to rise 1.5% on an annual basis to $688,955 this year, less than the 2.8% growth CREA saw in January. In 2027, national home sales are forecast to climb a further 2.1% to 485,071 units. This could be revised above the 500,000 mark should higher interest rates prove unnecessary to fight inflation, added CREA.In company news, First Capital REIT (FCR-UN.TO) is to be acquired by Choice Properties REIT (CHP-UN.TO) and and KingSett in a cash and units deal valued at $9.4 billion. The transaction also involves George Weston (WN.TO).

S&P/TSX CompositeS&P/TSX Composite$CHP-UN.TO$FCR-UN.TO

Mining & Metals113d ago

CIBC Confirms Neutral Rating on Allied Properties REIT and Raises Target to $11

CIBC Capital Markets maintained its neutral rating on the units of Allied Properties Real Estate Investment Trust (AP-UN.TO) and increased its target price to $11.00 from $10.50.The bank said the company's units have "significantly outperformed" the market in recent weeks. Its $11.00 price target is based on 10.6x 2027 FFO/u estimate, implying a 1% premium to its revised net asset value estimate."We believe management and board changes have begun to alter AP's leasing approach, which we expect will help it deliver on its three-year outlook," said analyst Tal Woolley. "We think units can continue to run here due to some possible speculative factors, but we expect the operational recovery to be a multi-year process, consistent with what AP laid out following Q4 results and the $560MM equity offering."CIBC believes the market is "either expecting a quicker fundamental turnaround or there may be some speculative factors at play"."Sufficiently chastened by the Q3/25 reporting experience (units ran up, then dropped -17%), we advise caution in aggressively chasing AP units here, as we do not expect to see a clear turn in operating performance until late 2026," added Woolley. "This is consistent with AP's 3-year outlook. AP: the financial recovery will take time."The bank also noted that in the management circular, the board made significant downward discretionary adjustments to executive incentive compensation. It also believes the reconfigured C-suite will see "more success" with a more flexible leasing strategy.(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://finwires.com/en/contact)Price: $11.27, Change: $+0.59, Percent Change: +5.52%

$AP-UN.TO

Mining & Metals113d ago

CIBC Provides Q1 Preview for Shopify; Says Strong Quarter And 2026 Outlook Expected

CIBC Capital Markets reiterated its outperformer rating and its US$185 price target on the shares of Shopify (SHOP.TO, SHOP), as it provided first quarter preview for the company.Shopify reports Q1 results on May 5 followed by a conference call, said CIBC.CIBC expects SHOP to meet or beat Q1 consensus and provide constructive Q2 guidance, supported by strength in payments, new merchant adds, and Europe."Our alt data reinforces this view and suggests Q1 momentum is extending into early Q2: Plus merchants we track saw web-traffic growth accelerate to ~25% Y/Y in April (vs. 20% in Q1 and ~17% last quarter; through Apr 11)," said CIBC.It added that this supports upside to GMV and positions SHOP to exceed revenue growth and FCF margin expectations."Our outlook assumes faster Merchant Solutions growth (offsetting slower Subscription Solutions), supported by CIBC alt-data trends for Plus merchants, EMEA momentum, enterprise and retail POS adoption, and AI integrations," added CIBC. "Key offsets include mix-driven gross margin pressure (Payments) and higher opex from reinvestment in R&D and S&M; we also assume a higher tax rate in Q1 that normalizes later in 2026."It noted that, since March 2025, SHOP has beaten consensus by ~3% on revenue and ~4% on FCF, on average. CIBC said that a key risk remains execution against FCF margin guidance in the low-to-mid-teens, with FactSet aligned currently implying it will be below Q1/25."Our price target is (US)$185, based on 12x our 2027E sales forecast plus cash and its equity stake in Flexport," added CIBC. "SHOP's Rule of X (2x growth + FCF margin) continues to screen near the top of comparable constituents in the BVP NASDAQ Emerging Cloud Index, supporting a premium multiple."Price: $176.40, Change: $+1.21, Percent Change: +0.69%

$SHOP$SHOP.TO

Mining & Metals113d ago

CIBC Raises Enerflex's Price Target to US$25.50 from US$16.75

CIBC Capital Markets on Wednesday reiterated its neutral rating on the shares Enerflex (EFX.TO, EXFT) while raising its price target to US$25.50 from US$16.75 ahead of the company's first-quarter results.CIBC said it raised the price target towards the high-end of Enerflex's historical trading range of 7.0x 2026E EV/EBITDA, which is further supported by its sum-of-the-parts analysis of the earnings generation for the company.According to CIBC, the company's earnings stability along with the potential for growing power generation revenue, should see the shares trade at an expanded multiple versus prior."We believe the prospect of increasing revenues associated with power generation projects will drive an improved valuation metric for Enerflex moving forward," CIBC said. "Increasing demand for natural gas amidst the North American LNG export buildout, and expansion of data centers, remains supportive for the company's service offerings."Amid its optimistic outlook for Enerflex, CIBC noted that the company continues to generate a meaningful amount of EBITDA from jurisdictions that carry higher levels of geopolitical risk.Price: $32.42, Change: $+0.40, Percent Change: +1.25%

$EFX.TO$EXFT

Mining & Metals113d ago

Wedbush Refines Fennec Pharmaceuticals Estimates Ahead of Q1 Earnings

Wedbush is refining its its 2026 estimates for Fennec Pharmaceuticals (FRX.TO) ahead of the company reporting its fiscal first-quarter results."While we believe underlying demand trends remain intact, we are refining our 2026 estimates to reflect anticipated seasonality and the near-term impact of recent commercial reinvestment. Given onboarding and ramp dynamics, we do not expect meaningful contribution from new hires until 2H26 and anticipate limited sequential growth in 1H26," writes analyst David Nierengarten, who is maintaining an outperform and US$13.00 price target on the stock.Nierengarten forecasts first-quarter Pedmark revenue of US$13. million (~flat q/q), with a similar setup in the second quarter, before growth reaccelerates in the second half of the year as sales force productivity improves and the adolescent and young adult (AYA) penetration builds. (Pedmark is an injection used to lower the risk of hearing-loss induced by cisplatin chemotherapy)For fiscal 2026, Nierengarten expects Pedmark revenue of ~US$62 million (+39% y/y), with the back-half weighting driven by incremental contribution from new commercial hires."We continue to view Pedmark as a durable growth asset with a clear path to re-acceleration in 2H26, with FENC on track to achieve cash flow positivity in 2026, supporting a constructive outlook on shares."Price: $8.75, Change: $+0.10, Percent Change: +1.16%

$FENC$FRX.TO

Mining & Metals113d ago

Coyote Copper Mines Up 28% as it Starts Exploration Work on New Sulphide Copper Zone

Coyote Copper Mines (CCMM.V) shares rose 28% on Thursday after it announced the start of work on a newly discovered zone, with exposed copper sulphide mineralization and magmatic breccias within the Copper Triangle of Arizona.The company said channel samples are being cut with a diamond saw and dispatched to American Assayers Laboratories in Sparks, Nevada for analysis.Recent field efforts have led to the identification of a new mineralized zone, which includes a breccia pipe referred to as the Maher Breccia. It said broader zone remains under active evaluation, with current project mapping indicating a strike length of more than 4 km and a width exceeding 600 m.Shares of the company were last seen up $0.055 to $0.25 on the TSX Venture Exchange.Price: $0.25, Change: $+0.06, Percent Change: +28.21%

$CCMM.V

Mining & Metals113d ago

Nouveau Monde Raises US$96.5 Million in Bought Deal Offering of Subscription Receipts

Nouveau Monde Graphite (NOU.TO, NMG) Thursday said it raised US$96.5 million in its bought-deal offering of 52.4-million subscription receipts priced at US$1.84 apiece.Each subscription receipt can be exchanged for one share when certain conditions are met, including the completion of a private placement of US$213 million, which is expected to occur on May 15.Proceeds from the financing will be used to fund the Phase 2 development of Matawinie Mine and position the company to advance to a final investment decision (FID) and construction.Nouveau Monde shares were last seen up $0.05 to $2.73 on the Toronto Stock Exchange.Price: $2.75, Change: $+0.07, Percent Change: +2.43%

$NMG$NOU.TO

Mining & Metals113d ago

RBC Maintains Seabridge Gold's Outperform Rating, US$71.00 Price Target, Following Snip North MRE

RBC Capital Markets on Wednesday maintained its outperform, speculative risk, rating on the shares of Seabridge Gold (SEA.TO, SA) its US$71.00 price target after the company released a maiden resource estimate (MRE) for the Snip North deposit within the Iskut project in British Columbia's Golden Triangle region.The estimate showed the deposit contains measured and indicated resources of 9.5-million ounces of gold grading 0.47 grams per tonne (g/t), 29.5-million ounces of silver at 1.45 g/t silver, and 959-million pounds of copper grading 0.07% copper.Recent drilling indicates a strike length of 2.1 kilometers, 0.6 km of depth and up to 0.7 km in width. The deposit remains open at depth to the northwest and along strike to the north and west, RBC said.The Iskut project is being renamed as the Bronson corridor project and comprises two deposits, Bronson Slope and Snip North. An initial resource for Bronson Slope released in 2024 outlined an inferred resource of 5.4-million ounces of gold, 1.06-billion pounds of copper and 45-million ounces of silver.Price: $43.03, Change: $+0.27, Percent Change: +0.63%

$SA$SEA.TO

Mining & Metals114d ago

FireFox Gold Reported Remaining Results from 2025 Drilling at Sarvi Project in Lapland, Finland

FireFox Gold (FFOX.V) on Thursday reported the results from the remaining three holes of the 2025 reconnaissance drill program at the company's 100%-held Sarvi gold project in Lapland, Finland.The company said that the target concept for this small reconnaissance drill program was to examine interpreted regional scale structures cutting through discrete magnetic highs and magnetic gradients in the Keulakko permit on the western side of the project area.The company further said that drill hole 25SA002 was drilled as part of a northeast-southwest oriented fence testing a structural-magnetic corridor located 250 to 500m east of the GTK holes. It stated that the drill hole 25SA002 encountered a narrow gold mineralized interval yielding 1.0 metre at 2.68 g/t Au from 51.5 metres downhole depth.It added that the drill holes 25SA004 and 25SA005 were collared approximately 480 metres east from drill hole 25SA003. These holes were drilled in a fence towards the southwest direction and targeted interpreted regional scale structures, said the company and added that hole 25SA005 returned a single interval of low-grade gold.The company plans to follow up this scouting drill program with additional surface sampling, detailed geophysical surveying and drilling later this year.The company's shares were last seen unchanged at $0.64 on the TSX Venture Exchange.

$FFOX.V

Mining & Metals114d ago

Arya Resources Increases Flow-Through Financing to $2.19M

Arya Resources (RBZ.V) on Thursday said it increased the flow-through component of the previously announced non-brokered private placement to $2.19 million, from $2 million.The company said the upsized flow-through component will now consist of up to near 4.4-million flow-through common shares (FT shares) at $0.50 per FT share."We initially capped the flow-through financing at $2.0 million, with only a modest increase to $2.19 million to manage dilution prudently," said Arya Resources Chief Executive Rasool Mohammad. "While demand was strong, we elected not to accept additional subscriptions to maintain a disciplined capital structure and minimize dilution to our shareholders."The proceeds from the FT shares will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" and will be renounced to subscribers with an effective date no later than Dec. 31, 2026. Funds will be directed toward the continued advancement of its Saskatchewan exploration projects, including the Wedge Lake Gold project and the Dunlop Nickel-Copper-Cobalt project.Shares of the company were last seen unchanged at $0.45 on the TSX Venture Exchange.

$RBZ.V

Mining & Metals114d ago

Nouveau Monde Graphite Announces Closing of US$96.5 Million Equity Public Offering

$NOU.TO

Mining & Metals114d ago

Vizsla Copper Down Near 3% Even As Secures Drill Permit for Copperview Project in British Columbia

Vizsla Copper (VCU.V) was down near 3% early Thursday even as it received an exploration permit for the Copperview project in British Columbia.Among highlights, Vizsla said the five-year multi-year area based permit allows the company to drill at multiple sites and conduct limited construction and modification of exploration access trails.Vizsla said planning is underway for a drill program later in the year, focusing on evaluating the porphyry-related copper potential of the previously undrilled M5 target, which the company has refined through systematic exploration programs over the last two years."We look forward to announcing more detailed drilling plans in due course, which we anticipate commencing this fall," Executive Chairman and Chief Executive Officer Craig Parry said.Price: $1.32, Change: $-0.04, Percent Change: -2.94%

$VCU.V

Mining & Metals114d ago

Smooth Rock Ventures Up Near 6% As Launches 2026 Exploration Program on Giroux Project

Smooth Rock Ventures (SMRV.V) was at last look up near 6% after announcing Thursday the launch of its 2026 exploration program on the Giroux project, positioned within Nevada's Walker Lane shear zone.The company said the 2026 program is building off its previously successful exploration programs that returned up to 1% nickel, 23.5 grams per tonne (g/t) gold, 7.67% copper and 9.87 g/t silver from three outcrops and an old mine dump, respectively. Historical regional sampling programs by previous operators further confirmed the property's merit, with prior geophysical surveys on the property, indicating several potential drill targets, it added.The 2026 Giroux exploration program will consist of reconnaissance prospecting, detailed geological mapping, surface trenching, systematic sampling, and the relocation of numerous historical workings. The company said this reconnaissance program will provide accurate modern data to assist in the planning of an initial drill program, "bringing Giroux one step closer to realizing its resource potential."Shares of the company were last seen up 5.8% at $0.365 on the TSX Venture Exchange.Price: $0.37, Change: $+0.02, Percent Change: +5.80%

$SMRV.V

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Mining & Metals113d ago

TSX Down 20 Points at Midday With Most Sectors Higher

S&P/TSX CompositeS&P/TSX Composite$CHP-UN.TO$FCR-UN.TO