A roundup of some of the North American equities making moves in both directions today
On the rise
Iamgold Corp. (IMG-T) jumped 6.8 per cent on Thursday in response to a Bloomberg News report that the company is “exploring a possible sale of all or part of the company.”
According to the report, China National Gold Group Corp., the nation’s second-biggest miner of the metal, is studying a bid for a stake in the Toronto-based miner, which is “working with advisers and has spoken to several potential buyers.”
Shares of gold producers were up in afternoon trading after the U.S. Federal Reserve hinted at a rate cut on Wednesday.
Gold prices surged to a more than five-year peak on Thursday after the U.S. central bank signaled it was ready to cut interest rates as early as next month to boost growth, triggering a sharp fall in the dollar.
Spot gold was 1.7 per cent higher at $1,383.04 per ounce after touching $1,386.42, its highest since March, 2014.
U.S. gold futures rose nearly 3 per cent to $1,386.90 per ounce.
Barrick Gold Corp. (ABX-T) was up 5.1 per cent, while New Gold Inc. (NGD-T) and Yamana Gold Inc. (YRI-T) were up 5.7 per cent and 9.5 per cent, respectively.
Green Organic Dutchman Holdings Ltd. (TGOD-T) was 2.5 per cent higher after unveiling the launch of its Global Strategic Hemp Division.
“This new division will leverage TGOD’s solid expertise in the European hemp CBD market to fuel growth and accelerate the development and commercialization of new products across its network of international partners,” the company said.
It added: “TGOD’s acquisition of HemPoland in 2018 will continue to provide the Company with significant intellectual property and valuable insights as its Global Strategic Hemp Division expands into emerging hemp CBD markets. HemPoland saw its revenue for the first quarter grow by nearly 30% quarter over quarter as demand for high-quality hemp CBD products in Europe gains momentum.”
Acuityads Holdings Inc. (AT-X), a Toronto-based technology company that provides targeted digital media solutions, was up 5.3 per cent after announcing that is has received conditional approval from the Toronto Stock Exchange to graduate from the Toronto Venture Exchange and list its common shares on the TSX under the symbol “AT”.
“This is an important milestone for the AcuityAds team and our shareholders," said chief executive officer Tal Hayek. “The strength of our performance and our growth strategy has been recognized with this graduation and we are now able to expand our investor audience and improve the liquidity of our shares."
Vancouver-based miner NGEX Resources Inc. (NGQ-T) jumped 4.9 per cent after announcing shareholder approval for the spin-out of its Los Helados property and certain other exploration properties into a wholly owned subsidiary NGEx Minerals Ltd.
Recipe Unlimited Corp. (RECP-T), the Vaughan, Ont.-based parent company of Swiss Chalet and several other restaurant brands, rose 0.3 per cent after announcing the Toronto Stock Exchange has approved its notice of intention to make a normal course issuer bid for its subordinate voting shares.
Recipe may acquire over the next 12 months up to 1,822,329 shares, representing 10 per cent of the public float of 18,223,293. The average daily trading volume for the last six months was 14,615 shares. Daily purchases will be limited to 3,653 shares, other than block purchase exemptions. There are 26,871,249 shares outstanding as of June 14.
On the decline
Dream Global Real Estate Investment Trust (DRG-UN-T) dipped 0.4 per cent after announcing its intention to launch the placement of a €300 million unsecured bond.
The Bond will be issued by subsidiary Dream Global Funding I S.à r.l.
Colliers International Group Inc. (CIGI-T) fell 1.1 per cent after announcing the termination of Dylan Taylor as Chief Executive Officer of its Real Estate Services division “for misconduct including improper trading activity in Colliers securities in breach of his employment obligation.”
“Mr. Taylor has made certain allegations which he asserts as the basis for a potential constructive dismissal claim," the company said. "While management and the Board of Directors of Colliers have no reason to believe the validity of such claims, the Board has constituted a special committee to oversee an independent review of the allegations.”
With files from staff and wires
David Leeder