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Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news

Cargojet Inc. (CJT-T) announced some near and longer-term growth plans, including reaching a new milestone of a fleet size of 40 aircraft by the end of this year, allowing it to expand its domestic overnight network to 16 Canadian cities reaching more than 90 per cent of the Canadian population.

The company also provided long-term financial targets for 2026, including revenue of between $1.3-billion to $1.4-billion. Its 2021 revenue was $758-million and the expectation for 2022 is $1-billion.

Shares were up more than 6% in late morning trade.



Dye & Durham Ltd. (DND-T) reported revenue of $129.7-million for its fourth quarter ended June 30, a 54-per-cent increase from $84.4-million for the same period a year ago. The result was below expectations of $133.9-million, according to S&P Capital IQ.

Its net loss was $3.3-million versus a profit of $6.3-million a year ago. Adjusted EBITDA of $75.2-million was an increase of 53 per cent from the same period in the prior year.

On Tuesday morning, Dye & Durham also announced plans to buy back up to a maximum of 3,457,508 of its shares, or approximately 5 per cent of its public float.

The company said the buy back it being done because it believes that “from time to time, the market price of the shares may not fully reflect the underlying value of the Dye & Durham’s business and future prospects.”

Shares were up more than 9% in late morning trade.


Sangoma Technologies Corp. (STC-T) reported sales of US$62.5-million for its fourth quarter ended June 30, compared to US$50.1-million a year ago. The expectation was for revenue to come in at US$68.6-million in the latest quarter.

Its net loss for the fourth quarter was US$99.3-million, affected by a one-time, non-cash goodwill impairment charge of US$91.7-million. That compared to a loss of US$1.3-million a year ago.

Sangoma noted that it completed its acquisition of NetFortris on March 28. “As a result, this fiscal fourth quarter is the first quarter in which our income statement includes the full contribution from NetFortris’ sales and operations,” it stated.


Methanex Corp. (MX-T) announced a “significant investment” to reduce carbon emissions at its Motunui facility in New Zealand.

“This multi-million-dollar investment will involve improving the technology in the facility’s distillation columns over the next 12 months,” the company stated, adding that the efficiency improvements provide an economic payback within two years.

“Once completed, this project has the potential to reduce the site’s carbon emissions by over 50,000 tonnes per annum, the equivalent of taking 20,000 cars off the road.”

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