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
Showcase Minerals Inc (SHOW.C)
Market Cap ~ $1.17 million
Showcase Minerals Inc. engages in the identification, acquisition, exploration, and development of mineral projects. The company primarily explores for gold and vanadium deposits. It owns interests in the Dixie Flats which consist of 180 unpatented lode claims covering approximately 1311 hectares; the North Star which consist of 56 unpatented lode claims covering 360 hectares; and Woodruff claims which consist of 18 unpatented lode claims covering approximately 147 hectares located in Elko County, Nevada.
The stock is up 26% on news that it has closed a $450,000 private placement financing consisting of the sale of 1,500,000 units at $0.30 per unit. Each unit consists of one common share and one two-year share purchase warrant, which entitles the holder to acquire an additional common share for $0.40/share. The Company intends to use the proceeds of the private placement for further exploration on its Dixie Flats-North Star Gold Project and for general working capital.
More than average volume for the stock today with the news. The stock is attempting to target the resistance zone around $0.68.
Winshear Gold (WINS.V)
Market Cap ~ $22 million
Winshear Gold Corp., a junior gold exploration company, engages in the identification, acquisition, exploration, and development of mineral properties. The company holds 100% interest in the Gaban gold project that consists of 41 concessions covering an area of 15,629 hectares located in the Puno Orogenic Gold Belt in south eastern Peru. It also holds 100% interest in the ICA iron oxide-copper-gold project, which covers an area of 2,933 hectares located to the southeast of the town of Ica and southeast of Lima, Peru.
The stock is up 21.7% on the news that the Board of Directors has decided, in light of the US$30 million settlement reached with Government of the United Republic of Tanzania to make a Return of Capital payment to shareholders of CDN $0.25 per Winshear common share. The Record Date and the Payment Date for the distribution are as follows:
The market is reacting extremely positive to the news. A major gap up and the stock is now testing a key resistance zone. A zone that when broken, will lead to a breakout and a move to to the $0.38 zone.
Montero Mining and Exploration (MON.V)
Market Cap ~ $6.8 million
Montero Mining and Exploration Ltd., together with its subsidiaries, engages in the acquisition, evaluation, exploration, and development of mineral properties in Chile. It explores for gold, silver, and copper molybdenum deposits. The company holds an interest in the Avispa project that covers an area of 478.3 kilometer square located in the Atacama Desert of northern Chile. It also holds an interest in the Isabella gold silver project located in southern Chile.
The stock is up 12% on no news.
The stock is in recovery mode after a major drop down. There is some resistance at $0.18, but the stock must fill the gap between $0.20-$0.22 to turn things around. This move can just be a corrective move in a downtrend.
Sitka Gold Corp (SIG.C)
Market Cap ~ $29 million
Sitka Gold Corp. engages in the exploration of mineral resource properties in Canada and the United States. The company explores for gold, silver, zinc, and copper deposits. It owns interests in the Coppermine River project covering an area of approximately 50,000 hectares located in Nunavut; the Alpha Gold property that includes 293 claims that covers an area of approximately 4780 acres situated in Eureka County, Nevada; the OGI property, which comprises 99 quartz mining claims located in Dawson City, Yukon; and the RC Gold property that consists of 1,891 claims covering an area of approximately 37,600 hectares situated in Yukon. The company also holds an option to acquire a 100% interest in the Burro Creek property covering an area of approximately 750 hectares, which includes four patented mineral claims and 35 surrounding lode mineral claims located in the Mohave County, Arizona; and the Barney Ridge property situated to the east of Dawson City, Yukon. In addition, it holds a 100% interest in the Mahtin property that comprises 1447 quartz mining claims covering an area of 30,242 hectares located in Yukon territory; and the Clear Creek Gold property situated to the east of Dawson City, Yukon.
The stock is up 10% on news that it has signed a drilling contract and plans to begin drilling its Alpha Gold Property in Nevada. Sitka has engaged Midnight Sun Drilling Inc., a highly reputable drill contractor with over 50 years of experience, to carry out the next phase of drilling at its Alpha Gold Property in Nevada.
A nice pop but the price remains within what appears to be a reversal pattern. Support still comes in at $0.13, so the stock can continue its uptrend after a breakout but currently, price trajectory seems to be rolling over.
GR Silver Mining Ltd (GRSL.V)
Market Cap ~ $13 million
GR Silver Mining Ltd. engages in the acquisition, exploration, and development of mineral resource properties. The company explores for gold, silver, lead, and zinc deposits in Mexico and the United States.
The stock is up 11% on no news, however two days ago, the Company announced it proposes to undertake a non-brokered private placement of up to 30 million units, at a purchase price of $0.04 per Unit, to raise total gross proceeds of up to $1.2 million.
This is one to watch for reversal traders. The stock is within a range and a breakout could be in the cards. Watch for a close above $0.05.
Top 5 Losers
Golden Minerals Company (AUMN.TO)
Market Cap ~ $12 million
Golden Minerals Company, a precious metals exploration company explores for mineral properties. It explores for gold, silver, copper, zinc, lead, and other minerals. The company holds a 100% interest in the Rodeo gold mine situated in Durango State, Mexico; and a 100% interest in the Velardeña and Chicago gold-silver mining properties and associated oxide and sulfide processing plants located in the State of Durango, Mexico. It also holds a 100% interest in the El Quevar advanced exploration silver property situated in the province of Salta, Argentina; Yoquivo property situated in Chihuahua State, Mexico; Sarita Este gold-copper property situated in the province of Salta, Argentina; and diversified portfolio of precious metals and other mineral exploration properties located in Argentina, Nevada, and Mexico.
The stock is down 36% on no news.
Have covered this chart on Market Movers before. The stock broke out and is seeing profit taking. For the trend to continue, it must hold above the $1.50 support zone. If not, then we have a false breakout.
Theratechnologies (TH.TO)
Market Cap ~ $33 million
Theratechnologies Inc., a biopharmaceutical company, focuses on the development and commercialization of various therapies to address the unmet medical needs in the United States, Canada, and Europe. The company offers EGRIFTA and EGRIFTA SV for the reduction of excess abdominal fat in human immunodeficiency virus (HIV)-infected patients with lipodystrophy; and Trogarzo, a recombinant humanized monoclonal antibody, which is an injection for the treatment of multidrug resistant HIV-1 infected patients. Its pipeline products include F8 Formulation for the treatment of lipodystrophy in people living with HIV; and TH1902, which is in Phase 1 clinical trials for the treatment of various solid tumors, including HR+ breast cancer, triple negative breast cancer, ovarian cancer, endometrial cancer, melanoma, thyroid cancer, small cell lung cancer, and prostate cancer.
The stock is down 19% on news that it has priced its previously announced public offering of 12,500,000 common shares of the Company at a public offering price of US$1.00 per Common Share. The gross proceeds of the Public Offering are expected to be approximately US$12,500,000, before deducting the underwriting discounts and commissions and other estimated offering expenses.
A gap down on the news which is a continuation of the weakness the stock has shown. Support is coming at $1.20. A break below would result in the next support coming at $1.00.
Champion Electric Metals (LTHM.C)
Market Cap ~ $16 million
Champion Electric Metals Inc., a discovery-focused exploration company, engages in the acquisition and exploration of natural resources in Canada and the United States. It explores for lithium and cobalt deposits. The company holds a 100% interest in the Champion Electric lithium project that comprises of 980 claims covering an area of approximately 500.66 square kilometers located in Quebec, Canada. It also holds interest in the Idaho cobalt project that owns 622 claims covering an area of approximately 6,871 hectares located in northern Idaho.
The stock is down 18% on no news.
The stock has broken below a support zone at $0.09. There are a lot of support levels down here but the stock will need to close above $0.11 for upside momentum.
Tokens.com Corp (COIN.NE)
Market Cap ~ $16 million
Tokens.com Corp. provides blockchain verification services through proof-of-stake technology. The company’s technology secures next-generation blockchain networks through Proof-of-Stake technology to support the growth of decentralized finance applications. It invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming-based digital assets; purchases and stakes tokens; operates in virtually integrated digital real estate business; and holds NFT assets and invests in crypto-based games.
The stock is down 20% on no news.
A retreat, likely profit taking after the major move in cryptos. The stock is supported above $0.12 but there is a chance the buyers step in as the stock recently had a trendline break.
Aecon Group (ARE.TO)
Market Cap ~ $558 million
Aecon Group Inc., together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.
The stock is down 14% after reporting Q3 2023 results. The numbers can be seen here.
A major gap down on the earnings report. Now the stock faces support around $8.50. A breakdown would lead to the next major support zone coming in at $7.00.
