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
mdf Commerce (MDF.TO)
Market Cap ~ $249 million
mdf commerce inc., through its subsidiaries, provides software as a service (SaaS) solutions for consumers and businesses in Canada, the United States, Europe, Asia, and internationally. The company’s SaaS solutions optimizes and accelerates commercial interactions between buyers and sellers. Its solutions include ecommerce, eprocurement, and emarketplace.
The stock is up 54% on news it has entered a definitive agreement to be acquired by KKR. mdf commerce shareholders to receive C$5.80 in cash per share, representing C$255 million in total equity value and a premium of approximately 58% to the closing price of the common shares on the TSX on March 8, 2024.
Buyout is confirmed so not much to say on the chart. The $5.80 zone is going to be resistance.
NorthStar Gaming (BET.V)
Market Cap ~ $16.3 million
NorthStar Gaming Holdings Inc., through its subsidiaries, operates an online betting platform in Canada. It own’s and operates NorthStar Bets, a casino and sportsbook gaming platform with pre-live and live markets with monthly sports betting markets, and slot, live, table and jackpot casino games including slot games, blackjack, roulette, and baccarat.
The stock is up 30% on news the Company has commenced trading in the US on the OTCQB Venture Market.
Okay, we might have something big here. The stock is basing and is showing the structure of a cup and handle pattern. Watch for a close above the $0.10 zone to confirm the trigger of this reversal pattern. Keep this one on the watchlist.
Pampa Metals (PM.CN)
Market Cap ~ $17 million
Pampa Metals Corporation, a mineral exploration company, engages in the acquisition and exploration of base and precious metals projects in Chile. It owns an area of 47,400-hectare portfolio of seven projects for copper, molybdenum, and gold deposits located in Chile.
The stock is up 26% on news of assay results from its first drillhole at the Piuquenes Porphyry Project in Argentina.
This chart has been mentioned a few times in past Market Movers articles. Been saying that the uptrend is now in motion with higher lows and higher highs. Another higher low is set to trigger with a confirmed breakout close above recent highs.
Dore Copper Mining (DCMC.V)
Market Cap ~ $14 million
Doré Copper Mining Corp. engages in the acquisition, exploration, evaluation, and development of mineral properties in Canada. The company primarily explores for copper and gold deposits. It holds 100% interest in the Corner Bay deposit, the Cedar Bay past producing mine, the Copper Rand past producing mine, the Joe Mann past producing mine, the Devlin deposit, the Copper Rand mill; and tailings management facility, and other deposits including Doré Ramp deposit and 50% of the Gwillim past producing mine.
The stock is up 23% on no news.
A reversal could be brewing with a move above the $0.10 zone. The stock is breaking out above the current lower high which would end the current downtrend. However, the actual trigger will be the daily close confirmation. Still some time left before the market closes today.
Hertz Energy (HZ.CN)
Market Cap ~ $13 million
Hertz Energy Inc. engages in the acquisition, exploration, and development of mineral properties in the United States, Canada, and Brazil. It primarily explores for lithium deposits. The company holds interest in the Lucky Mica project comprises 114 mineral claims covering an area of approximately 939 hectares located in the Arizona Pegmatite Belt in the Maricopa County, Arizona; and the AC/DC project that consists of 26,500 hectares located in the renowned James Bay Lithium District in Quebec, Canada. It also has an option agreement to acquire 100% interests in the Patriota Lithium project includes 2,963 hectares located in the Eastern Brazilian Pegmatite Province in Minas Gerais, Brazil; and the Cominco Uranium property located in Nunavut, Canada.
The stock is up 25% on news it has entered into a consulting agreement with Lithium Consultants Australasia (LCA) to advance the development of its hard rock lithium extraction process optimization technology being conducted at Penn State University (PSU) as well as advance the Company’s commercialization of the technology.
A nice gap up pop on the news. An important resistance comes in at the $0.24 zone. The stock has not made a higher low yet so that would be what I would be watching for. This does require a close above $0.24.
Top 5 Losers
Gabriel Resources (GBU.V)
Market Cap ~ $31 million
Gabriel Resources Ltd. engages in the exploration, evaluation, and development of precious metal mining properties in Romania. The company primarily explores for gold, silver, and copper deposits. It primarily holds interest in the Bucium exploration concession covering an area of 2,325 hectares located in Western Transylvania; and Rosia Montana concession covering an area of 2,388 hectares located in West-central Romania.
The stock is down 96% on the release of a corporate update. That the Company’s ICSID arbitration claims against the Romanian Government were dismissed by a two to one majority and the tribunal awarded Romania approximately US$10 million in legal fees and expenses.
Ouch. That’s a drop. Not a good way to wake up this morning for shareholders. The stock is making new all time record lows, and the Company will need further funding to pay off this financial obligation and keep exploration activities going. A lot that management has to pull off and the stock is likely to see weakness until it gets a sense of what management will do. This is putting things nicely.
GT Resources (GT.V)
Market Cap ~ $14 million
GT Resources Inc. engages in the exploration and development of mineral resource properties. It primarily explores for zinc, rhenium, molybdenum, palladium, platinum group elements, gold, copper, cobalt, and nickel. The company holds 100% interest in Tyko, Disraeli, Hemlo East, Big Lake, North Rock, and Black Bear projects in Ontario, as well as Canalask project in Yukon, Canada. It also holds 100% interest in the Läntinen Koillismaa and Kostonjarvi projects located in Finland.
The stock is down 20% on news of final results from the 2023 drill program on the Tyko II Property.
The stock is printing new all time record lows. For things to turn around, it would require a reversal and close above the $0.07 zone.
NextSource Materials (NEXT.TO)
Market Cap ~ $106 million
NextSource Materials Inc. acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar.
The stock is down 17% on no news.
The stock printed an engulfing candle last week but no momentum following. This is why structures such as previous lower high and lower low levels are important. The stock could base here as we know buyers do step in around this zone.
Dryden Gold Corp (DRY.V)
Market Cap ~ $10 million
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers & acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone.
The stock is down 14% on no news.
The stock is looking to test previous lows around the $0.10 zone. Watch to see if a range develops here.
Big Gold (BG.CN)
Market Cap ~ $1.18 million
Big Gold Inc., a mineral exploration and development company, focuses on the acquisition and exploration of mineral properties. It holds 100% interest in the Martin Kenty Property consists of 264 mineral claims located in Kenora, Ontario.
The stock is down 25% on no news.
A stock that is trending on message boards and I believe it is because of the range pattern and breakout which investors are trying to play. Unfortunately, no breakout just yet and sellers are stepping in at resistance. A candle close above the $0.045 zone gets the breakout trigger.
