Top 5 stock gainers and losers: UGH.C, BCM.V, CNE.TO

In this summary report, we will take a quick look at the top 5 gainers and losers up or down double digits on the Canadian stock markets.

Here is a summary of the intraday action of assets:

Top 5 Gainers

XORTX Therapeutics (XRTX.V)

Market Cap ~ $13 million

XORTX Therapeutics Inc., a late stage clinical pharmaceutical company, engages in the development and commercialization of therapies to treat progressive kidney diseases, diabetes, insulin resistance, metabolic syndrome, diabetes, diabetic nephropathy, and infection.

The stock is up 75.61% on no news but eight days ago, the Company announced that Institutional Shareholder Services Inc. (“ISS”) has recommended that the Company’s shareholders vote FOR the proposed share consolidation resolution at XORTX’s special meeting of shareholders.

The stock recently printed new 52 week lows hitting $0.33 on October 10th. Since then, the stock began to range and today’s price action is significant. A strong gap up pop which is setting the stock up to test the resistance zone at $1.00.

NextSource Materials (NEXT.TO)

Market Cap ~ $204 million

NextSource Materials Inc. acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits.

The stock is up 33.88% on no news. But on message boards, some are attributing the pop to the news that China is to curb graphite exports.

Another stock which recently printed new 52 week lows at $1.20 before seeing a huge pop. The pop has seen some sellers step in at the resistance zone between $1.80-$1.90. Going forward, this will be a critical zone the stock will need to break in order to begin a new uptrend.

Santacruz Silver Mining (SCZ.V)

Market Cap ~ $81 million

Santacruz Silver Mining Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral properties in Latin America. The company primarily explores for silver and zinc, as well as lead and copper deposits.

The stock is up 22.85% on no news. Two days ago, the Company announced Q2 2023 production results. This resulted in:

1,728,863 ounces of silver;
3,370 tonnes of lead;
23,095 tonnes of zinc;
252 tonnes of copper;
For silver equivalent production of 5,669,905 ounces.

After printing new 52 week lows a few weeks ago, the stock began to range and then took off with the production fundamental catalyst alongside strong metals price action. The next resistance zone comes in at $0.26.

Kootenay Silver (KTN.V)

Market Cap ~ $43 million

Kootenay Silver Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Mexico and Canada. The company explores for silver, gold, lead, and zinc ores.

The stock is up 26.67% on no news. Two days ago, the Company put out a press release sharing positive results from the first three drill holes at the Columba Project.

This is one for the reversal traders. After a long downtrend, the stock finally began to range. The stock is still within this range but today’s price action may see the breakout above $0.10. This is the key price zone for bulls.

Uriel Gas Holdings (UGH.C)

Market Cap ~ $5.6 million

Uriel Gas Holdings Corp, an oil and gas company, engages in the exploration for and production of crude oil and natural gas in Western Canada.

The stock is up 33.33% after filing its corporate update and fiscal year end materials.

This is a stock which has already begun the transition into a new uptrend. The stock broke above the lower high in September and since then, has been attempting to confirm its first higher high and higher low. This has not happened just yet. A break above $0.10 is required.

Top 5 Losers

Ophir Gold Corp (OPHR.V)

Market Cap ~ $16 million

Ophir Gold Corp. acquires, explores, and evaluates mineral property assets in the United States. The company explores for lithium, and precious and base metal deposits.

The stock is down 10% on no news.

The stock is currently in a downtrend and a major support zone is coming up. This support comes in at the $0.15 zone.

Bear Creek Mining (BCM.V)

Market Cap ~ $31 million

Bear Creek Mining Corporation engages in the acquisition, exploration, and development of precious and base metal properties in Peru. The company explores for silver, lead, zinc, and gold deposits.

The stock is down 12% on news of Q3 2023 production results. The Company announced it produced 9,158 ounces of gold and 34,929 ounces of silver from the Mercedes Mine (“Mercedes”) during the three months ended September 30, 2023 (“Q3 2023”). It did not achieve the level of gold production management anticipated.

A significant breakdown on the stock. After ranging for a bit, the stock failed to breakout to the upside. This is why it is important to wait for ranges to break before jumping in. Instead, the downtrend is now continuing.

Fortune Bay (FOR.V)

Market Cap ~ $9.4 million

Fortune Bay Corp. engages in the acquisition, exploration, and development of mineral properties. It primarily explores for gold deposits.

The stock is down 12% on no news.

A choppy chart but the stock is technically testing a support zone here at $0.22. If buyers step in, this could lead to a retest of the $0.30 resistance zone. If we break, the stock will head back down to the $0.16 zone.

Canacol Energy (CNE.TO)

Market Cap ~ $308 million

Canacol Energy Ltd., an oil and gas company, engages in the exploration, development, and production of natural gas in Colombia.

The stock is down 11.83% on news that the long term take or pay gas sales contract with Empresas Publicas de Medellin E.S.P. (“EPM”), previously scheduled to commence deliveries on December 1, 2024 has been terminated by the Corporation.

The stock is heading to test a key support zone around $8.75. If this breaks, the next support would come in around $7.00.

Bluestone Resources (BSR.V)

Market Cap ~ $40 million

Bluestone Resources Inc. engages in the exploration and development of precious metals. Its flagship asset is the Cerro Blanco gold project located in Southern Guatemala in the department of Jutiapa.

The stock is down 11.67% on no news.