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Bullish Stocks Trading Near 52-Week High: $FR $FTT $CIGI

The Market Signal - Fri Aug 28, 9:12AM CDT

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First Majestic Silver Sees 58% Drop In Revenue In Q2 2020

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First Majestic Silver Corp (TSE:FR) is trading at C$15.21 which is near to its 52-week high of $19.41. The company has reported its unaudited interim Q2 2020 financial results in which it posted a 58% drop in revenue to $34.9 million because of limited operations during the pandemic. The company had around 6,000 gold ounces and 970,000 ounces of silver inn its inventory at the end of the quarter which will be recognized as revenue in Q3 2020 for $25 million.

Mine operating earnings were $7.8 million after the company incurred standby costs of $9.2 million in Q2 and net earnings came in at $10 million or $0.1 per share and were impacted due to suspension of operations during the quarter.

Finning International's Q2 2020 Revenue Dropped 33%

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Finning International Inc. (TSE:FTT) is also looking bullish and currently trades at C$20.03 which is near to its 52-week high of $25.85. the company has announced its Q2 2020 results in which its net revenue came in at $1.3 billion which is a 33% YoY drop and it includes a 24% decline in product support revenue in Canada due to the shutdown of operations. Strong free cash flow conversion in the quarter resulted in $312 million in free cash flow bringing 1H 2020 free cash flow to $262 million which enhanced the liquidity and financial position of the company. Earnings per share in the quarter were $0.12 which included a $0.30 per share benefit from the Canada Emergency Wage subsidy program.

Colliers International Group Reports Revenue Of $550.2 million in Q2 2020

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Another stock that is also looking bullish is Colliers International Group Inc. (TSE:CIGI) which is trading at C$84.26 near its 52-week high of $122.01. The company reported revenue of $550.2 million in Q2 2020 which is a 26% drop from $745.5 million reported in Q2 2019. Adjusted EBITDA dropped 31% to $60 million and adjusted EPS dropped 36% $0.7 per share. GAAP operating earnings came in at $14.5 million or $0.26 per share. Revenue for 1H 2020 was $1.18 billion which is a 14% YoY drop while adjusted EBITDA was $114.4 million.

Also, the company has appointed Subhankar Mitra to the role of Managing Director of the Advisory services unit in India.

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