Our roundup of Canadian small-caps in the news today.
Boralex Inc. (BLX-T) says Caisse de dépôt et placement du Québec has acquired all of the Class A common shares of Boralex held by Cascades Inc. representing 17.3 per cent of the outstanding shares for $287.5-million.
"As part of the transaction, the company and la Caisse have agreed to explore partnership opportunities with respect to investing in future projects developed by Boralex that are in line with its growth strategy," the company said in a statement.
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SunOpta Inc. (STKL-Q; SOY-T) says it's selling equipment used in the production of flexible, re-sealable pouches from its Allentown, PA facility to Skjodt-Barrett for $2-million.
"The asset sale is in conjunction with the company's decision to discontinue flexible, re-sealable pouch products as part of its ongoing portfolio optimization strategy and value creation Plan," it stated in a release.
The company said flexible re-sealable pouch products accounted for $46-million of revenues in fiscal 2016, and $10-million of revenues in the first quarter of 2017.
SunOpta said it will continue to produce aseptic beverages from its Allentown, PA facility, which were not part of the sale.
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Coeur Mining, Inc. (CDE-N) reported second quarter revenue of $173.4-million (U.S.) versus $182-million a year earlier.
Its net loss was $11-million, or 6 cents per share, versus net income of $14.5-million or 9 cents a year earlier. Adjusted EPS was a loss of a penny per share versus a profit of 11 cents a year ago.
Analysts were expecting revenue of $174.7-million and an adjusted EPS at a loss of 2 cents.
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Western Energy Services Corp. (WRG-T) reported a net loss of $16.6-million in the second quarter of 2017 or 23 cents per share as compared to a net loss of $24.2-million or 33 cents per share a year earlier. Analysts were expecting a loss of $14.4-million or 21 cents per share.
Operating revenue increased to $30.5-million in the quarter as compared to $12.4-million in the same period a year earlier.
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Uni-Select Inc. (UNS-T) reported second-quarter sales of $340.3-million, a 5.1-per-cent increase compared to the same quarter last year.
Net earnings were $13.7-million or 33 cents per share versus $16.8-million or 40 cents a year ago. Adjusted EPS was 39 cents versus 40 cents a year ago.
Analysts were expecting revenue of $337.9-million and adjusted EPS of 37 cents.
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MEG Energy Corp. (MEG) reported funds flow from operations of $49.6-million in the second quarter, up from $7.7-million a year earlier.
Net earnings were $104.3-million versus a loss of $146.2-million a year earlier.
MEG's second quarter 2017 production averaged 72,448 barrels per day (bpd), compared to 77,245 bpd for the first quarter of the year.
The company says it remains on track to meet its 2017 average production guidance of 80,000 to 82,000 bpd.
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Canfor Pulp Products Inc. (CFX-T) reported net income of $20.2-million, or 31 cents per share for the second quarter of 2017, compared to $2.2-million, or 3 cents per share, for the second quarter of 2016. Analysts were expecting earnings of 33 cents.
Sales were $280.9-million versus $257.2-million a year earlier.
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Sherritt International Corp. (S-T) reported a second-quarter net loss of $101.9-million compared to a net loss of $103.6-million in the second quarter of 2016.
"The net loss is driven largely by Ambatovy's performance, as the share of loss of an associate, net of tax, was $64.2-million in the second quarter," the company stated.
Revenue was $76.8-million up 3 per cent from $74.9-million a year earlier.
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Acadian Timber Corp. (ADN-T) reported sales of $12.6-million in the second quarter compared to $13.7-million in the prior year, "primarily due to lower selling prices for biomass products. Analysts were expecting revenue of $10.9-million.
Net income for the second quarter totaled $4-million, or 24 cents per share, compared to $5.8-million, or 35 cents per share a year ago.
The company also said its chief financial officer Wyatt Hartley will be leaving his job on July 27 "to take on new responsibilities within Brookfield Asset Management." Mabel Wong will replace him.
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Detour Gold Corp. (DGC-T) reported revenues for the second quarter of $180.1-million (U.S.) compared to $166.7-million a year earlier.
Net earnings for the second quarter were $24.4-million or 14 cents per share compared to a loss of $30.7-million or 18 cents a year ago.
Adjusted EPS was 15 cents versus 2 cents a year ago.
Analysts were expecting earnings of 9 cents and revenue of $224.3-million.
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MacDonald, Dettwiler and Associates Ltd. (MDA-T) says it has received an authorization to proceed on a multi-million dollar contract from Sierra Nevada Corporation (SNC).
MDA said it will provide a communications subsystem for on-board communication signal processing capabilities for the Dream Chaser Cargo System, a cargo transportation spacecraft being developed by SNC under the NASA Commercial Resupply Services (CRS2) program.