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 Stock Gainers
Awale Resources (ARIC.V)
Market Cap ~ $47 million
Awalé Resources Limited engages in the identification and exploration of precious metal projects. The company primarily explores for gold and copper deposits. It holds interest in Bondoukou project that includes three permits covering 1,191.5 square kilometers in the northeast of Côte d’Ivoire; and Odienné project that includes four permits covering 1,600 square kilometers in the northwest Denguèlé Region of Côte d’Ivoire.
The stock is up 90% on news it has hit 45.7 g/t gold over 32m at the Odienne Project.
The stock has gone parabolic. A major gap up on the news and the stock did at one time today go over the $1.00 zone. Watch for a daily close above $0.88 today.
St Georges Eco-Mining (SX.CN)
Market Cap ~ $26 million
St-Georges Eco-Mining Corp. develops new technologies to solve common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The company explores for nickel and PGEs on the Manicouagan and Julie Projects on Quebec’s North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project.
The stock is up 26% on news that its wholly owned battery recycling subsidiary, EVSX Corp., has received the Environmental Compliance Approval for its battery processing plant in Thorold, Niagara Region, Ontario.
The stock is printing what looks like an inverse head and shoulders pattern. Watch for a close above the $0.095 zone for a trigger.
Sona Nanotech (SONA.CN)
Market Cap ~ $45 million
Sona Nanotech Inc., a nanotechnology life sciences company, engages in developing various rapid diagnostic tests. Its products and services include COVID-19 Saliva Lateral Flow Assay, an immunochromatographic assay for the detection of the spike protein antigen from SARS-CoV-2 in saliva specimens from individuals, who are suspected of COVID-19; Gemini gold nanorods; and contract services. The company is also involved in developing pre-clinical targeted hyperthermia therapy for colorectal cancer.
The stock is up 15% on news of positive interim results from its study with The Giacomantonio Immuno-Oncology Research Group at Dalhousie University.
A breakout occurred a couple of weeks ago and the stock resumes its uptrend. In recent days, the stock is retesting support at the $0.36 zone for a continuation. So far so good. Buyers are stepping in.
Auxly Cannabis Group (XLY.TO)
Market Cap ~ $30 million
Auxly Cannabis Group Inc. operates as a consumer-packaged goods company in the cannabis products market in Canada. The company focuses on developing, manufacturing, and distributing cannabis products for wellness and recreational consumers. It offers cannabis products under various forms, including vape catridges, infused pre-rolls, vape pens, milled and dried flower, concentrates, chocolates, soft chews, oil drops, capsules, and topicals under the brands KOLAB PROJECT, Dosecann, BACK FORTY, and Foray.
The stock is up 50% on news of Q4 and full year 2023 financial results.
A choppy range here but the stock is breaking out above the $0.02 zone. The next resistance comes in at the $0.04 zone.
Perpetual Energy (PMT.TO)
Market Cap ~ $39 million
Perpetual Energy Inc. engages in the exploration, production, and marketing of oil and natural gas in Canada. The company’s portfolio of assets includes liquids-rich natural gas assets located in deep basin of west central Alberta; heavy crude oil and shallow conventional natural gas assets in Eastern Alberta; and undeveloped bitumen leases located in Northern Alberta.
The stock is up 43% on no news.
Now that is a strong breakout. A close above $0.48 will trigger a confirmed breakout and the stock will begin a new uptrend. Resistance comes in at $0.68.
Top 5 Losers
Canopy Growth (WEED.TO)
Market Cap ~ $814 million
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. The company’s products include dried cannabis flower, extracts and concentrates, beverages, gummies, and vapes. It offers its products under the Tweed, 7ACRES, 7ACRES Craft Collective, DOJA, Ace Valley, Quatreau, Deep Space, First + Free, Surity Pro, Spectrum Therapeutics, Vert, Tokyo Smoke, Twd, Martha Stewart CBD, DNA Genetics, BioSteel, Storz & Bickel, This Works, HiWay, Simple Stash, Whisl, and Truverra brands.
The stock is down 15% on no news.
Profits are being taken here. A new trend could be in play as the stock has taken out the previous lower high. However, we need our first higher low.
EnviroGold Global (NVRO.CN)
Market Cap ~ $13 million
EnviroGold Global Limited operates as a clean technology company in Canada. The company focuses on reclaiming mine tailings and resource development waste streams to sell various precious, strategic, and critical metals and metal concentrates.
The stock is down 62% on news of management changes and an update on its proprietary leaching technology commercialization.
The stock is printing new all time record lows. This would be like catching a falling knife. Wait for a range to develop to indicate selling exhuastion.
Torq Resources (TORQ.V)
Market Cap ~ $16 million
Torq Resources Inc., a junior exploration company, engages in the acquisition and exploration of mineral properties in the Americas. It has an option to acquire 100% interests in the Margarita iron oxide-copper-gold project covering an area of approximately 1,445 hectares located in the city of Copiapo, Chile; Santa Cecilia gold-copper project, which covers an area of 3,250-hectares located in Chile; and Andrea copper porphyry project that covers an area of 1,200 hectares located in northern Chile.
The stock is down 33% on news the Company has implemented cash preservation measures and has announced board and management changes.
The stock is breaking down and the downtrend continues. The next support comes down at the $0.06 zone.
Angel Wing Metals (AWM.V)
Market Cap ~ $8.1 million
Angel Wing Metals Inc., a minerals exploration company, focuses on exploring early-stage precious metals properties in Canada and Mexico. The company’s flagship asset is the El Grande gold project that covers approximately 550 square kilometers in the southern extension of the prolific Sierra Madre Occidental gold-silver belt in the state of Nayarit, Mexico. It also owns two early-stage gold exploration projects in Northwestern Ontario.
The stock is down 29% on no news.
The stock is contained within a range. It is testing the support portion. Buyers are expected to hold this zone.
Roscan Gold (ROS.V)
Market Cap ~ $33 million
Roscan Gold Corporation, an exploration stage company, engages in the acquisition, exploration, and development of gold properties in West Africa. It holds 100% interests in the Kandiole project comprising ten contiguous gold exploration permits covering an area of approximately 401.8 square kilometers located in Mali, West Africa.
The stock is down 15% on no news.
The stock is selling off at the $0.10 resistance zone. A break above this zone would be bullish for the stock. There is a cup and handle formation to keep an eye on.
