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REVEALED: 6 | Vintage Vibes

Xtra-Gold Acquires Third Drill Rig To Expedite Kibi Gold Project

Xtra Gold Resources Corp (TSX:XTG) (OTC:XTGRF) has acquired a third drill rig to accelerate its exploration efforts at Kibi Gold Project. The drill rig consists of a CS1000/P4 crawler-mounted diamond drill rig designed explicitly for Xtra-Gold. Xtra-Gold operates its fleet of drill rigs, significantly reducing drilling costs versus contracting rigs from third parties.…

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RBC Capital Bumps Up Price Target For Vermilion Energy, Leucrotta Exploration

Vermilion Energy Inc (TSX: VET) (NYSE: VET) price target has been raised to C$28 from C$26 by RBC Capital analyst Greg Pardy.

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Magna Clocks 5% Sales Decline In Q1; Cuts FY22 Outlook

Magna International Inc (NYSE:MGA) (TSX:MG) reported a first-quarter FY22 sales decline of 5.3%, to $9.64 billion, beating the consensus of $9.31 billion. Global light vehicle production growth was down 7%, primarily driven by a 16% decrease in Europe. Body Exteriors & Structures segment sales grew 1.3% Y/Y, Power & Vision fell 3.5%,…

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Linamar Expands Agriculture Portfolio Via Salford Group Acquisition For C$260M

GenNx360 Capital Partners, a New York-based private equity firm, has agreed to sell its portfolio company, Salford Group, a manufacturer of tillage and crop nutrition application equipment, to Linamar Corp (TSX:LNR) (OTC:LIMAF) for C$260 million. The acquisition will expand Linamar's agriculture portfolio. Following the acquisition, Salford Group will continue to leverage its established manufacturing…

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SNC-Lavalin Wins Second Consecutive Contract As ITS Communications General Consultant For FDOT

SNC-Lavalin Group Inc (TSX:SNC) (OTC:SNCAF) has been selected for a second term as the statewide Intelligent Transportation Systems (ITS) Communications General Consultant for the Florida Department of Transportation (FDOT). SNC has provided this service for the FDOT Central Office Traffic Engineering and Operations Office since 2017. Under the five-year, $22 million contract, with…

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Why Cenovus Energy Shares Are Trading Higher Today

Cenovus Energy Inc (NYSE:CVE) (TSX:CVE) reported a first-quarter basic EPS of C$0.81 compared to C$0.10 in 1Q21. Q1 total revenues increased to C$16.2 billion from C$13.7 billion in the previous quarter, driven by higher average realized sales prices for the company's products across the Upstream and Downstream businesses. The total operating margin was…

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Winpak Clocks 23% Revenue Growth In Q1

Winpak Ltd. (TSX:WPK) (OTC:WIPKF) reported first-quarter revenue growth of 22.8% year-over-year to $275.98 million. Selling price and mix changes had a favorable effect on revenue of $51.4 million as the substantial increase in raw material and other costs throughout 2021 resulted in higher selling prices to customers. Gross margin expanded by…

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Morgan Stanley Bumps Up Enbridge Price Target By ~12%

Enbridge Inc (TSX:ENB) (NYSE:ENB) price target has been raised to C$67 from C$60 by Morgan Stanley analyst Robert Kad. The analyst maintained the Equal Weight rating on the shares Kad is bullish on the midstream sector for the rest of 2022. He expects solid Q1 prints and constructive management outlooks, citing a favorable commodity backdrop.…

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Why NFI Group Shares Are Falling Today

NFI Group Inc (TSX:NFI) (OTC:NFYEF) has been downgraded to Market Perform from Outperform by BMO Capital analyst Jonathan Lamers. The analyst also lowered the price target to C$15.50, from C$21. Lamers stated that he is concerned with downside risk to the company's 2022 guidance as supply chain challenges are unlikely to improve in the near…

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VitalHub Acquires Hicom Technology For £8.7M

VitalHub Corp (TSX:VHI) (OTC:VHIBF) has acquired Hicom Technology Limited, a company incorporated and registered in England and Wales. Hicom was acquired via a share acquisition by Vitalhub's subsidiary, VitalHub UK Limited, for £8.7 million. The purchase was composed of a cash payment of £7.825 million and the issuance of 475,104 shares of…

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Kinross Sells Chirano Mine In Ghana To Asante Gold

Kinross Gold Corp (TSX:K) (NYSE:KGC) has agreed to sell its 90% stake in the Chirano mine in Ghana to Asante Gold Corp (OTC:ASGOF) for a total consideration of $225 million in cash and shares. The Ghanaian government has a 10% carried interest in Chirano. Kinross will get $115 million in cash upon the transaction's completion.…

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Novibet Extends Global Partnership With Nuvei

Nuvei Corp (NASDAQ:NVEI) (TSX:NVEI) extended its partnership with Novibet, European sports betting and online casino operator, to accept payments as it expands globally. Novibet is now also offering its players the option to deposit seamlessly and securely using Apple Inc (NASDAQ:AAPL) Apple Pay for the first time via its single point of integration with…

Benzinga

RBC Capital Cuts EverGen Infrastructure Price Target By 14%

EverGen Infrastructure Corp (TSXV:EVGN) (OTC:EVGIF) price target has been lowered to C$6 from C$7 by RBC Capital analyst Nelson Ng. The price target supports an Outperform, Speculative Risk rating. The analyst continues to see upside once management executes on its RNG development plans. He adds that the project delays in both near-term projects, due to…

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RBC Capital Cuts Shopify's Price Target By 23%

Shopify Inc (NYSE:SHOP) (TSX:SHOP) price target has been lowered to $1000 (an upside of 116%) from $1300 by RBC Capital analyst Paul Treiber. The analyst maintained the Outperform rating on the shares. The analyst states that the proposed changes to Shopify’s share structure may be contentious. Treiber adds that while some terms in the proposal…

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RBC Capital Downgrades AGF Management - Read Why

AGF Management Limited (TSX:AGF) (OTC:AGFMF) has been downgraded to Underperform from Sector Perform by RBC Capital analyst Geoffrey Kwan. The analyst also lowered the price target to C$8 from C$8.50. Kwan updated his 12-month objectives on his asset manager coverage universe to reflect expected decreases in AUM this month and slightly lower target…

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BMO Capital, Canaccord Raise Altius Minerals Price Target - Read Why

BMO Capital analyst Rene Cartier raised the price target for Altius Minerals Corp (TSX:ALS) (OTC:ATUSF) to C$23 from C$22 while maintaining the Market Perform rating on the shares. The target price was increased as the analyst raised multiples to align more closely with royalty/streaming peers. The analyst states that ALS delivered slightly better-than-expected 1Q22 attributable…

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Maxar Reveals Strategic Investment In Blackshark.ai

Maxar Technologies Inc (NYSE:MAXR) (TSX:MAXR) has made a strategic investment in Blackshark.ai, a provider of AI-powered geospatial analytics services. Financial terms were not disclosed. The Blackshark.ai platform processes petabytes of satellite imagery in hours, and it detects and segments objects, roads, vegetation, and other infrastructure on the surface of the planet without…

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Aura Agrees To Acquire Big River Gold; Form JV With Dundee Resources

Aura Minerals In (TSX:ORA) (OTC:ARMZF) agreed to acquire 100% of Big River and form an 80%/20% joint venture with Dundee Resources. Big River Shareholders (other than Dundee Resources) will receive A$0.36 in cash consideration for each Big River Share held, which values Big River at a purchase price of ~A$91.7 million. The acquisition represents…

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RBC Capital Bumps Up PrairieSky Royalty Price Target By 5%

PrairieSky Royalty Ltd (TSX: PSK) (OTC: PREKF) price target has been raised to C$22 from C$21 by RBC Capital analyst Luke Davis.

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RBC Capital Bumps Up Solaris Resources Price Target By 11%

RBC Capital analyst Alexander Jackson raised the price target on Solaris Resources Inc (TSX:SLS) (OTC:SLSSF) to C$20 from C$18 while maintaining the Outperform rating on the shares. Solaris' Warintza Project remains one of the analyst's favorite undeveloped copper projects, and the mineral resource update confirmed the meaningful scale and above-average grades at Central, which, in…

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Sierra Wireless Inks New Partnership With Orange Wholesale France

Sierra Wireless, Inc. (TSX:SW) (NASDAQ:SWIR) has entered a new partnership with Orange Wholesale France, expanding its access to global networks and connectivity coverage across Europe. Deal terms were not disclosed. Sierra Wireless initially collaborated with Orange Wholesale France in 2021 to enhance connectivity to its IoT customers. "This partnership with Orange not…

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BMO Capital Cuts First Majestic Silver Price Target By 7%

BMO Capital analyst Ryan Thompson lowered the price target on First Majestic Silver Corp (TSX:FR) NYSE: AG) to C$12 from C$13 while maintaining the Market Perform rating on the shares. First Majestic is an intermediate primary silver producer with three operating mines in Mexico. The analyst states that the consolidated Q1 gold and silver production…

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Air Canada's One-Day Passenger Load Exceeds 100,000 After 2 Years

For the first time since early in the pandemic, Air Canada (TSX:AC) (OTC:ACDVF) has flown more than 100,000 customers in a single day, reported the company, with passenger loads continuing to recover with customers returning to travel. The last time Air Canada carried over 100,000 passengers in a single day was March 13, 2020.…

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Iamgold Stock Slips After BMO Capital Downgrade, Price Target Reduction

Iamgold Corp (TSX:IMG) (NYSE:IAG) has been downgraded to Market Perform from Outperform, and the price target has been lowered to $2.75 (a downside of 19.5%) from $4 by BMO Capital Markets analyst Jackie Przybylowski. The downgrade is partly on valuation as the company's share prices have appreciated YTD, says the analyst. According to Przybylowski, a…

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BMO Capital Bumps Up Cogeco Communications Price Target By 4%

Cogeco Communications Inc (TSX: CCA) (OTC: CGEAF) price target has been raised to C$130 from C$125 by BMO Capital Markets analyst Tim Casey. The analyst maintained the Market Perform rating on Cogeco shares.

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