Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Stelco Holdings Inc. (STLC-T) reported fourth-quarter revenue of $435-million versus $648-million a year ago. Its net loss was $24-million or 27 cents per share versus income of $100-million or $1.23 a year ago.
Its adjusted net loss was $13-million or 15 cents versus an adjusted profit of $123-million or $1.38 a year earlier. Analysts were expecting an adjusted loss of 16 cents per share and revenue of $440.5-million.
Net rental income was $36.2-million up from $30.1-million a year earlier.
Diluted funds from operations were 18 cents, which was in line with expectations and compared to 22 cents a year earlier.
Interfor Corp. (IFP-T) announced it has priced US$50-million in long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 3.34 per cent and have a final maturity in 2030, the company said. The financing is expected to close in March and the proceeds will be used for general corporate purposes, the company said.
Hudbay Minerals Inc. (HBM-T) announced that the community of Chilloroya has formally approved a surface rights agreement with the company for the Pampacancha satellite deposit located near the Constancia mine in Peru. With the completion of this agreement, the company said it expects to be mining ore from the deposit in late 2020.
The company also said it expects growth capital expenditures associated with project development and acquiring the surface rights for Pampacancha to be approximately $70-million in 2020. “In accordance with Peru’s Consulta Previa law, additional consultation between the Peruvian government and the local community is required before Hudbay can begin development activities,” it stated.
Continental Gold Inc. (CNL-T) announced that an affiliate of Zijin Mining Group Co., Ltd. has agreed to provide up to an additional US$50-million unsecured loan to the company. The loan is unsecured, repayable on the fifth-anniversary date of closing and bears interest at 10 per cent per year with quarterly interest payments, the company stated.
Russel Metals Inc. (RUS-T) announced that Martin Juravsky will succeed Marion Britton as the company’s next chief financial officer. Mr. Juravsky starts in May. Ms. Britton will remain with the company throughout 2020 “to ensure a seamless transition,” the company stated. Mr. Juravsky currently serves as senior vice president and CFO of Interfor Corp.
Its net loss was $49.4-million or $1.17 per share compared to a loss of $2.4-million or 6 cents a year earlier. Adjusted earnings came in at $4.6-million or 11 cents per share versus earnings of $5.4-million or 13 cents a year earlier.
Analysts were expecting revenue of $424.3-million and adjusted profit of 10 cents.