Top 5 Gainers and Losers: TLRY.TO, SMN.V, GLXY.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

Discovery Lithium (DCLI.CN)

Market Cap ~ $9.5 million

Discovery Lithium Inc., an exploration company, focuses on advancing mineral resource projects in North America. It holds a 100% interest in 1,675 mineral claims in Serindac Lake and 2,113 mineral claims in Vaubert Lake for a combined total of approximately 164,283 hectares located in the Nunavik region of Northern Quebec. The company also owns 303 mineral claims covering 16,392 hectares that are identified as the Route De Nord, Lac Belanger, Lac Ferland, and Lac Roberston properties located across the northern and eastern regions of Québec, including the prolific lithium district of the James Bay region. In addition, it holds ESN project that consists of 33 unpatented lode claims covering an area of approximately 660 acres located in White Pine County, Nevada.

The stock is up 43% on no news.

The stock is bouncing at a major support level which also coincides with a large gap. The stock still needs to climb above $0.25 to really turn things around.

Sun Summit Minerals (SMN.V)

Market Cap ~ $8.3 million

Sun Summit Minerals Corp. engages in the acquisition, exploration, and development of precious metal properties in Canada. It primarily explores for gold, silver, and zinc deposits. The company has an option to acquire a 100% interest in the Buck property covering an area of totaling approximately 43,000 hectares located in north-central British Columbia.

The stock is up 41% on no news.

A very nice looking chart. We closed above $0.12 yesterday breaking the range. Today, the stock is testing another key resistance zone at $0.25. A close above this level triggers the break of a broader range and the beginning of a new uptrend.

MAX Resource Corp (MAX.V)

Market Cap ~ $35 million

Max Resource Corp. engages in the acquisition, exploration, and development of mineral properties. It explores for gold, silver, and copper. The company holds interest in the Cesar copper-silver project situated in Colombia. It also has an option to acquire a 100% interest in the RT Gold property that includes two contiguous mineral concessions located within the district of Tabaconas, Peru.

The stock is up 37% on no news.

Another beautiful chart for those reversal traders. You can clearly see the inverse head and shoulders breakout and the first confirmed higher low. A major resistance at $0.18 is being tested currently. This one has room to go as long as the current higher low at $0.14 is held.

Rockridge Resources (ROCK.V)

Market Cap ~ $3.1 million

Rockridge Resources Ltd., a mineral exploration company, engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company explores for copper, silver, zinc, gold, and cobalt deposits. It holds 100% interests in the Knife Lake project that comprises 82 claims totaling an area of 56,865 hectares located in Saskatchewan, Canada; and the Raney Gold project that covers an area of approximately 2,800 hectares located in the Raney Township, Porcupine Mining Division of Ontario.

The stock is up 66% on news that it has received an Exploration Permit for its 100% owned Knife Lake Copper Project located in Saskatchewan, Canada.

The stock has been bouncing around at record lows but a range has developed. We have positive news, and the real potential of some catalyst with future results. Watch for a close above $0.02 for a breakout of the range.

Ximen Mining (XIM.V)

Market Cap ~ $8.1 million

Ximen Mining Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It primarily explores for gold, silver, lead, zinc, and molybdenum deposits. The company owns a 100% interest in its precious metal projects, including the Amelia Gold Mine, Kenville Gold Mine, and the Brett Epithermal Gold Project located in southern British Columbia. It also owns a 100% interest in the Treasure Mountain Silver Project located in southern British Columbia.

The stock is up 35% on no news.

The stock is bouncing from record lows and is showing interesting market structure. Potential inverse head and shoulders to develop? We would need some retracement after hitting $0.30 before a higher low swing to form a right shoulder.

Top 5 Losers

Inca One Gold (INCA.V)

Market Cap ~ $6.7 million

Inca One Gold Corp. engages in the business of operating and developing of gold-bearing mineral processing operations in Peru. It owned two gold milling facilities, which includes Chala One and Kori One located in Peru.

The stock is down 30% on news of a corporate update pertaining to receiving a notice of default from OCIM Precious Metals related to a missed gold loan payment, due pursuant to the Company’s Gold Pre-Payment Facility.

Today’s price action will be crucial. The stock recently broke out above a range but is now retesting the breakout zone after the news. Bulls should watch to see if the stock can hold these levels. If not, we would have a false breakout.

Tilray Brands (TLRY.TO)

Market Cap ~ $2.09 billion

Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. It also offers medical and adult-use cannabis products; purchases and resells pharmaceutical and wellness products; and produces, markets, sells, and distributes beverage alcohol products, and hemp-based food and other wellness products. In addition, the company offers its products under the Tilray, Aphria, Broken Coast, Symbios, B!NGO, The Batch, Dubon, Good Supply, Solei, Chowie Wowie, Canaca, RIFF, SweetWater, Breckenridge Distillery, Alpine Beer Company, and Green Flash brands.

The stock is down 19% on Q3 2024 financial results:

Net revenue of $188.3 million increased ~30% in the third quarter compared to $145.6 million in the prior year quarter.
Gross profit was $49.4 million, while adjusted gross profit increased 17% to $51.6 million in the third quarter. Gross margin was 26% and adjusted gross margin was 27%.
Beverage-alcohol net revenue increased 165% to $54.7 million in the third quarter from $20.6 million in the prior year quarter. The increase was related to our new Craft Acquisition brands while our existing brands stayed consistent.

A gap down on the Q3 revenue miss. The stock was riding strong bullish momentum but this gap down will stall things. We do have a higher low at $2.60, bulls should watch to see if this zone holds.

Galaxy Digital Holdings (GLXY.TO)

Market Cap ~ $4.28 billion

Galaxy Digital Holdings Ltd., an asset management firm, operates in the digital asset, cryptocurrency, and blockchain technology industry. It operates through five segments: Trading, Principal Investments, Asset Management, Investment Banking, and Mining. The company provides spot and derivative executions, and liquidity to institutional clients, counterparties, and venues that transact in cryptocurrencies; and offers access to traded cryptocurrencies to clients and counterparties across a suite of service offerings, including over-the-counter (OTC) spot liquidity provision, on- exchange liquidity provision, OTC options and trading, and bespoke lending and structured products, as well as engages in the proprietary quantitative, arbitrage, and macro trading strategies.

The stock is down 17% on news it has agreed to increase the size of its previously announced bought deal financing with Canaccord Genuity Corp. The Underwriter has agreed to purchase, on a bought deal basis, an additional 2,350,000 ordinary shares of the Company at a price of C$14.00 per Ordinary Share. As a result of the upsize, the aggregate number of Ordinary Shares purchase by the Underwriter shall be 12,100,000 Ordinary Shares, for aggregate gross proceeds to the Company of C$169,400,000.

The stock is still in its uptrend with higher lows and higher highs. A pullback on todays news, but the critical higher low comes in at the $12.00 zone. A close below this would end the current uptrend. However, the stock did breakout and then fall signaling a false breakout. This adds to the bearish signs.

Sonoro Energy (SNV.V)

Market Cap ~ $32 million

Sonoro Energy Ltd. explores for, appraises, develops, and produces oil and gas resources in Southeast Asia. The company holds a 25% interest in the Selat Panjang Production Sharing Contract covering an area of approximately 940 square kilometers located in Riau province, Central Sumatra.

The stock is down 17% on no news.

The stock recently broke above the range with a close above $0.14. The stock is now retesting this zone and so far, buyers are stepping in.

Delta Resources (DLTA.V)

Market Cap ~ $15 million

Delta Resources Limited, an exploration company, engages in the acquisition, exploration, and development of gold and base metal projects in Canada. The company holds 100% interest in the Delta-1/Eureka project, which consists of 279 contiguous unpatented mining claims covering approximately 5,201.7 hectares located in the Thunder Bay district of Ontario; and the Delta-2/ R-14 project comprising 332 contiguous mining claims covering an area of 17,712.12 hectares located in the Chibougamau Mining district of Quebec. It also holds an optioned agreement property comprises the Dollier property that consists of 40 claims covering an area of 2,228 hectares located in Chibougamau, Quebec.

The stock is down 14% on news of final assay results for six (6) drill holes, and one (1) drill hole extension, from its ongoing 2024 drill campaign at its 100% owned Delta-1 Gold project in Thunder Bay, Ontario.