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April 25, 2024

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Top 5 stock gainers and losers: BEA.V, FM.TO, LION.C

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 Gainers

Belmont Resources (BEA.V)

Market Cap ~ $4.7 million

Belmont Resources Inc. engages in the acquisition, exploration, and development of mineral resource properties in Canada and the United States. It explores for copper, gold, lithium, and uranium projects. The company holds a 100% interest in the Kibby Basin property that covers an area of approximately 13,440 acres located in Esmeralda County, Nevada; and the Crackingstone property situated in the Northern Mining District, Saskatchewan. It also has an option to acquire a 100% interest in the Pathfinder property comprising 253.34 hectares located in southern British Columbia; the Athelstan-Jackpot property located in Phoenix mining camp of southern British Columbia; the Come by Chance property located in Phoenix mining camp of Southern British Columbia; and the Lone Star property located in northern Washington State.

The stock is up 120% on drilling news. Belmont has completed nine drill holes in a 2,000 metre diamond drilling program at its 100% owned A-J gold project situated in the prolific Greenwood mining camp of southern British Columbia. Drilling tested IP anomalies defined by the 2020 IP geophysical survey as well as targets defined by surface mineralization and historical workings. Results of the drill program will be announced as soon as all assays have been received, compiled and verified.

TradingView Chart

A major pop after the stock hit lows of $0.02. The stock is looking to close above the previous lower high at $0.04. The next zone? Resistance at $0.09.

 

Global Li-Ion Graphite Corp (LION.C)

Market Cap ~ $2.4 million

Global Li-Ion Graphite Corp., an exploration stage company, engages in the exploration and evaluation of mineral resources in Canada. It holds an option to acquire 100% interest in the Madagascar Graphite property comprising 3 mining exploitation permits covering an area of approximately 4,375 hectares located in Madagascar; and the Neuron Graphite project situated in Northern Manitoba, Canada.

The stock is up 40% on news that it sees a path to restarting its Graphite Mine. The President of Madagascar has signed the new Malagasy mining code into law. This new code is structured to better support sustainable development, good minerals and environmental governance, as well as benefiting the people of Madagascar- all of which aligns with Lion’s commitment to being a good corporate citizen. This is a very positive step in the realisation of the Ambato-Arana graphite mining project. Moreover, Madagascar’s Ministry of Mines and Strategic Resources has confirmed that the mine plan submitted by LION for the development of the project complies with existing regulatory requirements. 

TradingView Chart

The stock recently printed record lows hitting $0.02. Bulls should watch for today’s daily candle close to close above the $0.04 level which is resistance and the current lower high.

 

MustGrow Biologics (MGRO.V)

Market Cap ~ $79 million

MustGrow Biologics Corp., an agricultural biotech company, focuses on development and commercialization of natural biopesticides, biofumigants, and bioherbicides derived from mustard seed. It provides preplant soil biofumigation, a technology to treat soil-borne diseases and pests for various crops, including fruit, vegetables, and other crops; and TerraMG, a mustard-derived soil biopesticide technology for use as a preplant soil biopesticide for soil-borne diseases and pests for various crops, such as fruits & vegetables, bananas, canola, and pulses. The company is also developing bioherbicide to treat unwanted plant growth for use in organic agriculture, home, and garden markets, as well as agriculture markets; and postharvest food preservation, an application in sprout, disease, and pathogen treatment for storage and food preservation markets.

The stock is up 26.4% on news it has received a receipt of organic compliance certification from the USDA National Organic Program for its TerraSanteTM crop fertilizer and soil amendment technology.

TradingView Chart

A very important day for the stock and currently, today’s candle close would break above a resistance zone and a lower high at $1.40 which would mean the end of the current downtrend. Watch to see if bulls can keep the stock up until the end of the day.

 

Minauram Gold (MGG.V)

Market Cap ~ $51 million

Minaurum Gold Inc., an exploration stage company, engages in the acquisition and exploration of mineral properties in Mexico and the United States. The company explores for gold, silver, copper, lead, and zinc deposits. Its flagship project is the Alamos project, which covers an area of approximately 37,928 hectares in Southern Sonora.

The stock is up 16.6% on no news. 

TradingView Chart

The stock is bouncing from support and appears to be developing a multi bottom pattern. There is a possibility of a reversal if the stock can confirm a close above $0.18 going forward.

 

Planet 13 Holdings Inc (PLTH.C)

Market Cap ~ $191 million

Planet 13 Holdings Inc., an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. It also operates licensed cannabis dispensaries; non-cannabis retail merchandise store and event space; and owns and operates Trece Eatery + Spirits, coffee shop and pizzeria.

The stock is up 14.6% on news that it plans to release its financial results for the third quarter ended September 30th, 2023, on November 8, 2023, aftermarket.

TradingView Chart

After a major spike in late August, the stock has given back those gains but is now retesting the breakout zone at $0.75. Buyers did step in yesterday as can be seen with the daily wick. Today’s candle will go a long way in determining if the breakout zone holds and gains momentum.

 

Top 5 Losers

Rackla Metals (RAK.V)

Market Cap ~ $7.3 million

Rackla Metals Inc., a junior gold exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company holds a 100% interest in the Rivier property located in the Watson Lake Mining District, Yukon. It also holds interests in the Tombstone Gold Belt projects situated in Yukon and Northwest Territories.

The stock is down 37.5% on news that it has exercised three previously announced exploration option transactions on the HIT and SER properties in Yukon, and the Astro property in Northwest Territories. 

TradingView Chart

The stock is approaching support at $0.12. This is where buyers should step in. If the sellers continue the pressure, the stock can fall to the $0.06 zone.

 

Geodrill Limited Ordinary (GEO.TO)

Market Cap ~ $82 million

Geodrill Limited, together with its subsidiaries, provides mineral exploration drilling services to mining companies in West Africa, Egypt, Zambia, Chile, and Peru. It offers reverse circulation, core, air-core, deep directional Navi drilling, reverse circulation grade control, water borehole, underground, and horizontal drilling services. The company operates a fleet of multi-purpose, core, air-core, grade control, and underground drill rigs; boosters and auxiliary compressors; and various support vehicles, such as pick-up, MAN, and other trucks, as well as purpose-built crawler-mounted support vehicles and bell tractors.

The stock is down 26.4% on news that it is pre-announcing certain items impacting the Company’s quarterly earnings, earnings before interest, taxes, depreciation and amortization (“EBITDA”)1, and earnings per share and the decision not to declare a second semi-annual dividend in 2023. 

TradingView Chart

A major drop down after the news release. The stock has gapped down to a support zone but the close below $2.00 is a major breakdown.

 

Railtown Capital Corp (RLT-P.V)

Market Cap ~ $55 million

Railtown Capital Corp. does not have significant operations. It intends to identify and evaluate business acquisitions with a view to complete the qualifying transaction.

The stock is down 16.6% on no news, but five days ago, the Company announced the appointment of a CEO and Board Member and a CAD $1 million private placement.

TradingView Chart

After major performance the last few days, the stock is pulling back. The drop is likely profit taking.

 

Resolute Resources (RRL.V)

Market Cap ~ $24 million

Resolute Resources Ltd., an energy company, engages in the exploration and development of crude oil from shallow cretaceous sandstone reservoirs utilizing multi-lateral drilling technology in Northeast British Columbia and Northwest Alberta.

The stock is down 14% on news of an operational update and leadership transition

TradingView Chart

The stock is retreating but to a support zone around $0.35. Today’s close will be important for the stock.

 

First Quantum Minerals (FM.TO)

Market Cap ~ $11.5 billion

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia. It is exploring the Taca Taca copper-gold-molybdenum project in Argentina, as well as the Haquira copper deposit in Peru.

The stock is down 16% as the stock sell off continues after news dropped that Panama’s government said it will hold a referendum on the Cobre Panama mine as it attempts to quell mass unrest.

TradingView Chart

We spoke about the major support at $20. This did not hold and the stock has broken down. The next support area comes around $14.00.

 

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