Top 5 Gainers and Losers: AMC.TO, FT.TO, DEF.V

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

Arizona Metals (AMC.TO)

Market Cap ~ $267 million

Arizona Metals Corp. operates as a mineral exploration company in the United States. The company primarily explores for copper, gold, zinc, and silver deposits. It holds 100% interests in the Kay mine project with approximately 1,300 acres of patented and BLM claims located in Yavapai County, Arizona; and the Sugarloaf Peak gold project with 4,412 acres of BLM claims located in La Paz County, Arizona.

The stock is up 11% on news of a management transition.

A very nice bottoming inverse head and shoulders pattern. This looks good. Watch for a strong close above $2.50 to confirm the breakout and to trigger the pattern.

Lomiko Metals (LMR.V)

Market Cap ~ $10 million

Lomiko Metals Inc. engages in the acquisition, exploration, and development of resource properties in Canada. It explores for graphite and lithium deposits. The company’s flagship project is its 100% owned La Loutre graphite property located in Laurentian region of Quebec.

The stock is up 66% on news that it has been awarded a Department of Defense Technology Investment Agreement grant of US$8.35 million where Lomiko will match the funding over a period of 5 years, for a total agreement with the DoD of US$16.7 million.

The stock is breaking out on the news. Positive news, and with this breakout at a low price, it will be interesting to see if the stock can attract buyers for momentum. A confirmed close above $0.02 is bullish.

Delta 9 Cannabis (DN.TO)

Market Cap ~ $6.2 million

Delta 9 Cannabis Inc., together with its subsidiaries, operates as an integrated cannabis company. The company engages in the cultivation, processing, extraction, wholesale distribution, retail, and sale of medical and recreational cannabis products. Its products include dried cannabis flowers, pre-rolls, and dried sift cannabis, as well as oils, and extracted and derivative products. The company also offers grow pods and live plants to other licensed and pre-licensed companies.

The stock is up 50% on news of Q1 2024 financials.

The stock remains in its basing pattern. Watch for a strong daily close above $0.035 for a retest of $0.05 and possible breakout.

Fortune Minerals (FT.TO)

Market Cap ~ $38 million

Fortune Minerals Limited engages in the exploration and development of specialty metals, base metals, and precious metals in Canada. The company explores for gold, cobalt, bismuth, copper, silver, lead, and zinc deposits. Its primary asset is the NICO gold-cobalt-bismuth-copper project covering an area of 5,140 hectares located in the Northwest Territories.

The stock is up 33% on news after reporting funding from the Government of Canada to help advance the Company’s 100%-owned, vertically integrated NICO cobalt-gold-bismuth-copper Critical Minerals asset in Canada.

The stock is confirming a breakout above $0.06. This will trigger a reversal pattern as long as the price remains above $0.06. Potential retest before starting the uptrend. The stock has a strong catalyst too.

Cannabix Technologies (BLO.CN)

Market Cap ~ $92 million

Cannabix Technologies Inc., a technology company, develops marijuana breathalyzer for employers, law enforcement, workplaces, and laboratories in the United States. It develops tetrahydrocannabinol breath analyzers, a point of care breath testing tool for the rapid detection of recent cannabis use; MS breath sampler; and contactless alcohol breathalyzer, as well as breath collection units.

The stock is up 28% on news it has entered into a strategic partnership and development agreement dated May 15, 2024 with Omega Laboratories Inc of Ohio, USA. The Agreement provides a pathway for commercialization of Cannabix’s marijuana breathalyzer technology.

Spoke about the range breakout above $0.25 in a previous Top Stocks article. The uptrend continues with higher lows and higher highs. The $1.00 zone is the next major psychological resistance level.

Top 5 Losers

Global Uranium (GURN.CN)

Market Cap ~ $1.62 million

Global Uranium, a junior exploration company, is currently focused on the Wing Lake Property located in the Mudjatik Domain of northern Saskatchewan, an area known for uranium and base metal deposits. The Company also targets other mineral exploration opportunities in North America and may acquire interests in additional mineral projects of sufficient geological or economic merit.

The stock is down 42% on no news.

Not much to say as the stock began trading on May 7th 2024. Limited price data here but the major support comes in at $0.38.

Bri-Chem Corp (BRY.TO)

Market Cap ~ $5.6 million

Bri-Chem Corp., together with its subsidiaries, engages in the wholesale distribution of oilfield chemicals for the oil and gas industry in North America. The company supplies, blends, and packages drilling fluid products in various weights and clays, lost circulation materials, chemicals, and oil mud products. It also offers completion, cementing, acidizing, stimulation, and production chemicals; and sells calcium nitrate, barite, silica fume, hydrated lime, bentonite, potash, sodium bicarbonate, calcium chloride, and soda ash. In addition, the company provides testing of drilling fluids for customers for various analyses, including viscosity, fluid loss, lubricity, and others.

The stock is down 32% on news of Q1 2024 results.

A major breakdown of support at $0.32. Zooming out on the chart, I see some support around the $0.12 zone. Watch to see if buyers will step in around this zone.

SouthGobi Resources (SGQ.V)

Market Cap ~ $225 million

SouthGobi Resources Ltd., together with its subsidiaries, operates as an integrated coal mining, development, and exploration company in Mongolia and Hong Kong. The company primarily explores for coking and thermal coal. Its flagship project is the Ovoot Tolgoi open pit coal mine located in the Umnugobi Aimag of Mongolia.

The stock is down 26% on no news. Two days ago, the Company announced Q1 2024 results.

The stock is looks like it topped at $1.15. It also had a strong close below the $1.00 zone. Support is coming in around the $0.65 zone.

Defiance Silver (DEF.V)

Market Cap ~ $93 million

Defiance Silver Corp., an exploration stage company, acquires, explores, evaluates, and develops mineral properties primarily in Mexico. It primarily explores for gold, copper, and silver deposits.

The stock is down 14% on no news.

The stock is likely seeing some profits being taken after a major move. The higher low comes in at $0.24 meaning the stock remains in an uptrend as long as it remains above this level.

Pacific Ridge Exploration (PEX.V)

Market Cap ~ $11 million

Pacific Ridge Exploration Ltd., an exploration stage company, acquires and explores for resource properties in Canada and the United States. The company primarily explores for gold and copper. Its flagship project is the Kliyul copper-gold project covering an area of approximately 6,000 hectares located in the northern Quesnel terrane, British Columbia.

The stock is down 17% on no news.