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Mining & Metals2d ago

Earnings Flash (LNF.TO) Leon's Furniture Posts Q1 Adjusted EPS C$0.29 per Share, vs. FactSet Est of C$0.29

$LNF.TO

Mining & Metals2d ago

Earnings Flash (LNF.TO) Leon's Furniture Q1 Revs C$557.2M, vs. FactSet Est of C$569.9M; System Wide Sales Down 3.5%

$LNF.TO

Mining & Metals2d ago

Belo Sun Mining Begins Trading on OTCQX Best Market; Shares up 1.6%

Belo Sun Mining's (BSX.TO) shares have qualified to trade on the OTCQX Best Market in the United States under the ticker "BSXGF", effective today, said the company on Thursday.The company's shares will continue to trade on the TSX Exchange under the symbol "BSX", it added."Our move to OTCQX underscores Belo Sun's commitment to enhancing shareholder value by broadening our reach within the U.S. investment community," said Clovis Torres, Chief Executive Officer of Belo Sun. "We believe this transition will provide U.S. investors with a more efficient, liquid platform to participate in our growth. As we advance the Volta Grande Gold Project in Brazil we will continue evolving our capital markets and growing our international shareholder base."The company's shares were last seen up $0.03 at $1.26 on the Toronto Stock Exchange.Price: $1.25, Change: $+0.02, Percent Change: +1.63%

$BSX.TO

Mining & Metals2d ago

Orestone Mining Provides First Gold Assays From Francisca Surface Exploration Program, Argentina

Orestone Mining (ORS.V) provided initial assay results received from the Phase I exploration program on the Francisca Gold project in Salta Province, Argentina, on Thursday.The company noted this program included the resampling of existing trenches for which it only possessed historic summary data. Mapping at the South Gold zone indicates a stockwork width from 40-70 metres averaging 50 metres along a 400-500 metre strike length, it said."The zone consists of highly sericite argillic altered porphyry and hornfels host rocks cut by a dense stockwork of thin light brown limonite veinlets with thin dark quartz vein centres and thicker dark limonite quartz veins that are both vertical and shallow dipping," said Orestone in a statement. "Assay results for the first two trenches at Francisca compare favorably to historically reported data and confirm that a robust gold-silver mineralized stockwork system is exposed on the surface."The company's goal is to define a gold-silver deposit that can be mined by open pit.Shares of the company were last seen down 4.2% at $0.115 on the TSX Venture Exchange.Price: $0.115, Change: $-0.005, Percent Change: -4.2%

$ORS.V

Mining & Metals2d ago

Galloper Gold to Begin 2026 Drilling Program at the Glover Island Property

Galloper Gold (BOOM.CN) on Thursday said it plans to begin a 2026 drilling program at Glover Island targeting new high-grade gold targets in the Lunch Pond South Extension (LPSE) gold deposit.The company also plans regional exploration drilling, particularly at Lucky Smoke.An updated geological modelling and engineering exercise resulted in the recently released and increased LPSE Mineral Resource Estimate (MRE), said the company and added that the 2026 drilling program will follow-up and build on this "momentum."The 2026 drilling program is expected to include up to 7,000 meters of diamond drilling in over 25 boreholes. Drilling will target along-strike and down-dip continuity of the LPSE and Lucky Smoke gold deposits within the Kettle Pond formation, the company added."Galloper Gold Corp. has been comprehensively evaluating the Kettle Pond Formation gold mineralized trend with historical data, and, as a result of this, we have recently released an updated MRE for the LPSE deposit," said chief executive Hratch Jabrayan. "This effort has resulted in a new understanding of the geological architecture of the property and has built targeting for additional gold mineralization intercepts."Shares of the company were last seen unchanged at $0.10 on the Canadian Securities Exchange.

$BOOM.CN

Mining & Metals2d ago

DLP Resources Down 16% After Launching $5 Million Brokered Private Placement

DLP Resources (DLP.V) shares were last seen down 16% after the company on Thursday said it will raise up to $5 million in a "best efforts" private placement of share units.The company is placing up to 20-million units priced at $0.25 apiece and made up of a share and a three-year warrant to buy a share for $0.35. It is also granted it agent a four-million unit over-allotment option.Proceeds will be used for the advancement of its Aurora Cu-Mo-Ag project in southwest Peru, the exploration of its Esperanza Cu-Mo project in southern Peru, as well as for general working capital and corporate needs.The offering is anticipated to close on May 21.Shares of the company were last seen down $0.045 at $0.235 on the TSX Venture Exchange.Price: $0.24, Change: $-0.05, Percent Change: -16.07%

$DLP.V

Mining & Metals2d ago

CIBC Raises Linamar's Price Target to C$110.00 From C$105.00 Following Q1 Results

CIBC Capital Markets maintained its outperformer rating on the shares of Linamar (LNR.TO) and raised its price target to C$110.00 from C$105.00 on Wednesday, after the company reported first-quarter results.Q1 results were "well above expectations," and apart from the impact of Section 232 tariff changes, performance is "tracking ahead" of LNR's original outlook, said CIBC."Incremental tariff impacts drove a reduction in Industrial and consolidated margin guidance, though a stronger sales outlook in both segments drives our AOI forecast modestly higher, bringing our price target to $110 (from $105)," said CIBC. "We view this as likely a temporary impairment of earnings rather than a permanent one, and overall LNR's results point to a fundamentally healthy business that is executing well. Valuation remains attractive (3.8x CIBC 2026E EBITDA) and we stay Outperformer-rated."Strong Mobility sales growth was driven by recent acquisitions, launching activity, and volume growth on existing programs, stated CIBC. "Management continues to see many potential distressed M&A opportunities, particularly in Europe," noted CIBC.Industrial segment outperformance was primarily driven by continued share gains in Skyjack , where volumes were +66% Y/Y driven by innovation and demand from AI-related construction projects, said CIBC. "Ag continued to decline amid weak farmer sentiment, though the company noted pent-up demand, more balanced dealer inventory levels, and potential H2 catalysts from relief payments," further noted CIBC. "LNR expects modest growth in Access markets in 2026/2027, while N.A. Agricultural markets are expected to be down 15%-20% in 2026."Changes to Section 232 steel/aluminum tariffs are "negatively impacting" Industrial margins starting in the second quarter, but there is no impact to Mobility, said CIBC. CIBC has estimated a ~300bps headwind to segment margins, though this is uncertain and likely a moving target."Guidance reflects mitigation steps already in-place, but LNR continues to explore a variety of alternatives," added CIBC. "The focus is on low-cost, low-effort actions, and LNR is not looking at moving production."Price: $96.50, Change: $+5.84, Percent Change: +6.44%

$LNR.TO

Mining & Metals2d ago

Weak Economic Growth Dynamics Still Holding The Canadian Dollar Back, Says Rosenberg Research

The Canadian trade balance swinging from deficit to surplus in March and the perceived hawkish bias of the Bank of Canada couldn't manage to take the Canadian dollar (CAD) to levels much better than $1.36, said Rosenberg Research after Wednesday's trade data.The exchange rate is level at which the recent rally stalled out, attesting the view that there are still weak economic growth dynamics holding the loonie back, according to Rosenberg Research.

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Mining & Metals2d ago

TSX Down 27 Points in Choppy Trade With Energy The Worst Performer

The Toronto Stock Exchange is down 27 points in choppy trade, with energy the worst performerEnergy, down 2.0% is the worst performer, pulled down by lower oil prices as hopes remain that a deal may be nearing to allow tankers to deliver crude once again from the Persian Gulf to customers. Traders are still waiting Iran's response to the latest U.S. proposal.Limiting losses are gains in info tech (+1.7%) and telecoms (+0.6%).In stocks, B2Gold (BTO.TO) is up over 15% and is the most actively traded on the TSX after it reported a first-quarter earnings beat.Sherritt (S.TO) plunged 32% to $0.17 with 7.2-million shares being traded, after it suspended its direct participation in joint-venture activities in Cuba, after the U.S. widened sanctions on the country. Sherritt is repatriating its expatriate employees in Cuba. Three directors, including board chair Brian Imrie are reported to have resigned from the board. Sherritt and the General Nickel Company of Cuba each hold a 50% stake in the Moa joint venture.

$^GSPTSE$.GSPTSE$BTO.TO$S.TO

Mining & Metals2d ago

CIBC Lifts Tamarack Valley Energy's Price Target to C$14.25 from C$12.25

CIBC Capital Markets maintained its outperform rating on the shares of Tamarack Valley Energy (TVE.TO) while raising its price target to C$14.25 from C$12.25 after the company released first-quarter results on Wednesday.The company indicated its plan to review its second-half capital program by midyear, which could support additional volume growth from its assets, CIBC said."We believe any increases, however, would likely be modest in order to balance free cash flow optimization from the business," CIBC said."We also expect Tamarack will use the buoyancy in oil pricing to accelerate further debt repayment through 2026, which should be favorable for the shares," it added.Given its strong first-quarter performance and expected development pace through 2026, CIBC's production estimate moved to the high end of Tamarack's 2026 guidance.As a result, CIBC's 2026 cash flow estimate rose to $2.04 per share from $1.91 per share.Price: $11.91, Change: $-0.17, Percent Change: -1.41%

$TVE.TO

Mining & Metals2d ago

Russel Metals Maintained at Hold at Stifel Canada Following Q1 Results; Price Target Raised to C$58.50

Stifel Canada on Thursday reiterated its hold rating on the shares of Russel Metals (RUS.TO) while raising its price target to C$58.50 from C$49.00 following the company's first-quarter results."RUS is benefitting alongside other "old world" businesses from the "HALO" effect. This stock market effect is being further aided by the company's smart capital allocation policy and elevated steel prices. As a result, we are increasing our target multiples to roughly +1STD above the 10Y average. Our new target multiples reflect 1.8x P/Book (10Y avg +1STD: 1.8x) and 16.0x P/E (10Y avg +1STD: 14.6x). This leads to an increase in our target price to $58.50 from $49.00. We had downgraded the stock to HOLD in February 2026 as we viewed the valuation as elevated and suggested waiting for a better entry point. We retain this view and our HOLD rating," 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: $57.58, Change: $+0.75, Percent Change: +1.32%

$RUS.TO

Mining & Metals2d ago

CIBC Confirms Neutral Rating on Stella-Jones and Cuts Target to $87 On Q1 Results

CIBC Capital Markets maintained its neutral rating on the shares of Stella-Jones (SJ.TO) and lowered its price target to C$87.00 from C$96.00 on modestly lower estimates and a 0.5x decrease in the bank's EV/EBITDA valuation multiple due to increased concerns around medium- to long-term rail tie demand, it said after the company reported first quarter results on Wednesday.The company's expansion into steel utility structures in Spring 2025 continues to progress well, and its vision of becoming a multi-material supplier to the utility and railway sectors provides additional growth vectors, the bank added."That being said, we moved to the sidelines on the name six months ago on concerns of increased competition in SJ's core markets amid elevated wood pole prices (SJ's price/mix has risen 55% since 2021), and ongoing rail sector M&A and tie capex tightening initiatives among Class 1s," said analyst Hamir Patel.CIBC reduced its Q2 EBITDA estimate by $3 million to $191 million primarily on slightly softer pole pricing assumptions and more cautious Residential Lumber and Industrial Products assumptions. Its 2026 EBITDA is now expected to be flat at $623 million, and 2027 EBITDA up 4% to $647 million.(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: $76.10, Change: $-0.91, Percent Change: -1.18%

$SJ.TO

Mining & Metals2d ago

Great-West Lifeco Price Target Raised to $73.00 at National Bank Following Q1 Results

National Bank raised its price target on the shares of Great-West Lifeco (GWO.TO) to C$73.00, from C$65.00, and reiterated its sector-perform rating, after it reported an earnings beat.The company's stronger than expected results unexpectedly came from experience gains in the reinsurance segment, writes analyst Gabriel Dechaine."While this line item is inherently volatile, we view the quarter overall as a positive one," he writes.Highlights included strong earnings growth (and positive net inflows) at both Empower Retirement and Wealth, Dechaine notes, while messaging on share buybacks suggests a similar level of activity this year as last year.Price: $76.16, Change: $+3.30, Percent Change: +4.53%

$GWO.TO

Mining & Metals2d ago

CIBC Increases Tourmaline Oil's Price Target to C$70 from C$67.50 Following Q1 Results

CIBC Capital Markets reiterated its outperformer rating on the shares of Tourmaline Oil (TOU.TO) while raising its price target to C$70.00 from $67.50 after the Western Canadian natural-gas producer reported first-quarter results on Wednesday.CIBC said Tourmaline's results were mixed. Its production of 666,000 barrels of oil equivalent per day aligned with CIBC's estimate and the consensus forecast.The company's cash flow of $2.21 per share was 3% below the consensus forecast of $2.27 per share and 6% below CIBC's forecast of $2.36 per share."Although near-term gas pricing remains a headwind, we do see the company's initiatives as helping to bolster future profitability in the business, which should drive increasing free cash flow," CIBC said.Price: $63.40, Change: $-3.45, Percent Change: -5.16%

$TOU.TO

Mining & Metals2d ago

Algoma Central Swings to a Q1 Profit on Higher Revenue and One-Time Gains

Algoma Central (ALC.TO) on Thursday said it swung to a first-quarter profit on one-time gains and higher revenue.The shipping company reported net income of $2.2 million, or $0.05 per share, compared with a net loss of $23.3 million, or $0.57, in the prior- year period.Algoma said the result included one-time net gains totaling $18.9 million. Excluding these gains, its loss narrowed to $16.7 million.Revenue rose to $127.8 million, from $107.2 million, over the same period.In its outlook, Algoma said global tariffs could increase operating costs and reduce trade volumes. Earnings could also be impacted by conflicts in Europe and the Middle East, however nearly all of the company's operations are outside these high risk areas. Algoma does not anticipate major changes in cargo volumes at this time.The company will pay a regular quarterly dividend of $0.21 per share on June 1, to shareholders of record on May 15.Algoma Central shares were last seen up $0.25 to $21.84 on the Toronto Stock Exchange.Price: $21.84, Change: $+0.25, Percent Change: +1.16%

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Mining & Metals2d ago

Canadian Natural Resources Maintained at Hold at TPH After Q1 Results; Price Target at C$70.00

Tudor, Pickering, Holt on Thursday maintained its hold rating on the shares of Canadian Natural Resources (CNQ.TO, CNQ) with a C$70.00 price target following first-quarter results from the country's No.1 oil producer."While generally expected given net debt levels exiting 2025, highlights from the overall update include the formal step-up in return-of-capital alongside the ~4% beat on Q1 cash flow. On Q1 results, headline metrics include C$4.37B AFFO vs. TPHe/Street consensus C$4.19B/C$4.26B (C$2.09/shr vs. TPHe/Street C$2.01/C$2.01), with the delta vs. our model owing to realizations and expenses more than offsetting production. 1,643mboepd came in slightly below TPHe/Street 1,657/1,651, primarily driven by Oil Sands with 275mbopd In Situ comparing to TPHe/Street 279/276 and 588mbopd OSM comparing to TPHe/Street 594/595, though the April run-rate within OSM of 630mbopd bodes well for Q2 (TPHe/Street 587/587). On the balance sheet and return of capital, net debt is now sufficiently below C$16B to have driven CNQ to plan for returning 75% of FCF to shareholders. This is already starting to take effect, with April buybacks already totaling ~$0.3B, matching full Q1's buyback activity ($1.5B in return of capital, consisting of $1.2B in dividends and $0.3B in share repurchases); no change to TPHe H2'27+ at strip for the final uplift to 100% with ND (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: $59.80, Change: $-2.46, Percent Change: -3.95%

$CNQ$CNQ.TO

Mining & Metals2d ago

Bitzero Holdings Applies to List on Nasdaq; Shares up 7.2%

Bitzero Holdings (BITZ-U.CN) on Thursday said its application to list on the Nasdaq stock market is being reviewed by the exchange..The company applied to list its shares under the symbol "AIBZ", subject to Nasdaq approval. The shares will continue to trade on the Canadian Securities Exchange under its existing symbol."Applying for a Nasdaq listing marks an important milestone in our company's growth journey. We believe this step will broaden our access to global capital markets, increase our visibility within the investment community, and reinforce our commitment to transparency and long-term value creation," chief executive Mohammed Bakhashwain said.The company plans to file a registration statement on Form 40-F with the U.S. Securities and Exchange Commission in connection with the proposed Nasdaq listing.Shares of the company were last seen up US$0.23 at US$3.44 on the Canadian Securities Exchange.Price: $3.44, Change: $+0.23, Percent Change: +7.17%

$BITZ-U.CN

Mining & Metals2d ago

RBC Maintains Suncor Energy's Outperform Rating, C$100 Price Target

RBC Capital Markets on Wednesday reiterated Suncor Energy's (SU.TO) outperform rating and C$100 price target, with the bank noting the company delivered another quarter of "robust performance" punctuated by a "jumbo-sized" downstream pre-tax margin of $2 billion (including FIFO gains) in part driven by record refined product sales of 680,900 bbl/d.RBC's updated production outlook of 862,100 bbl/d, anchored by a $5.7 billion capital program, remains relatively unchanged."Suncor's first-quarter results reinforced our confidence that its culture of sustained high performance is taking deep root and enabling the company to be on the podium, come what may," RBC said. "We believe the ingredients are in place for the company to earn a premium relative valuation, conceivably over the next year," RBC added.Suncor is RBC's favorite integrated producer in Canada and is part of its Global Energy Best Ideas list.Suncor traded at $85.70 per share at last look Thursday on the Toronto Stock Exchange.Price: $85.70, Change: $-2.21, Percent Change: -2.51%

$SU.TO

Mining & Metals2d ago

Forge Resources Raises $6 Million After Closing Second Tranche of Private Placement

Forge Resources (FRG.CN) closed the second tranche of its previously announced brokered private placement financing, it said Thursday.The company issued an aggregate of 5.3-million flow-through units that intend to qualify as "flow-through shares" at $0.50 apiece for $2.7 million. The offering was completed for total proceeds of $6 million.Each FT unit consists of one common share issued on a "flow-through" basis and one common share purchase warrant with each warrant entitling the holder to buy a share for a three-year period expiring May 7, 2029, at $0.70 per warrant share.Proceeds will be used to incur exploration expenses that qualify as "Canadian exploration expenses". Such expenses will be incurred on or before Dec. 31, 2027, and renounced to purchasers of the FT units with an effective date no later than Dec. 31, 2026, it said.Shares of the company were last seen up 1.2% at $0.435 on the Canadian Securities Exchange.Price: $0.44, Change: $+0.01, Percent Change: +1.16%

$FRG.CN

Mining & Metals2d ago

iA Financial Price Target Lowered to $180.00 at CIBC After Q1 Earnings

CIBC has lowered its price target on the shares of iA Financial (IAG.TO) by $4.00, to $180.00 after the company reported a mixed first quarter.Analyst Paul Holden, who is maintaining a neutral rating on the company, also lowered 2026 and 2027 EPS estimates by ~1% each due to a higher tax rate.Insurance experience was negative during the quarter, but earnings in the wealth management business was strong, increasing 24%, on the back of strong AUM growth, he noted. "We expect strong earnings growth will continue and model 13% growth in 2026," Holden said.iA Financial also reported mixed results for the Canadian segment, while U.S. segment core earnings declined 13%.Price: $161.26, Change: $+2.05, Percent Change: +1.29%

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Mining & Metals2d ago

CIBC Raises Linamar's Price Target to C$110.00 From C$105.00 Following Q1 Results

$LNR.TO