Friday's small-cap stocks to watch - The Globe and Mail

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

AutoCanada Inc. (ACQ-T) reported revenue was $739.4 million in the first quarter, up 19.2 per cent compared with the first quarter of 2018 and ahead of expectations of $733.9-million. The company generated a net loss attributable to its shareholders of $4.1-million of 15 cents per share versus net income of $4.8-million or 18 cents per share a year earlier.

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Horizon North Logistics Inc. (HNL-T) reported first-quarter revenue of $128.7-million compared to $82.6-million a year earlier and ahead of expectations of $115.5-million. Total profit increased $9.8 million, to $3.7-million, when compared with the $6.1-million loss a year earlier.

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Hudbay Minerals Inc. (HBM-N; HBM-T) and Waterton Waterton Global Resource Management, Inc. announced a settlement agreement related to who will be elected to Hudbay’s board of directors. “Hudbay is pleased to have reached an agreement with Waterton that is in the best interests of shareholders,” said Alan Hibben, chair of Hudbay’s Board. “On behalf of the board, we look forward to welcoming our new directors to the board and thank our departing directors for their valuable service to the company.”

“With the proxy contest behind us, we are pleased that Hudbay will now be able to focus solely on unlocking its significant potential,” said Isser Elishis, chief investment officer of Waterton Global Resource Management, Inc. “We are confident that the refreshed Hudbay Board is well-positioned to add value and deliver long-term value for all shareholders.”

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Martinrea International Inc. (MRE-T) reported sales of $1.02-billion in the first quarter up from $963.9-million. Net earnings came in at $55.3-million or 66 cents per share versus $56-million or 64 cents a year earlier. Analysts were expecting earnings of $1.01-billion and earnings of 67 cents.

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A&W Revenue Royalties Income Fund (AW.UN-T) increased its distribution and reported A&W reported same-store sales growth of 10 per cent for the first quarter of 2019.

Total sales reported by restaurants in the royalty pool were $308.8-million, an increase of 15.4 per cent from sales of $267.7-million in the first quarter of 2017. Net income was $5.7-million versus $6.3-million a year earlier.

The fund is increasing the monthly cash distributions by 4.8 per cent from 14.7 cents per unit to 15.4 cents per unit beginning with the April 2019 distribution.

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Eldorado Gold Corp. (ELD-T) reported that its first-quarter revenues decreased to US$80-million from US$131.9-million in the first quarter of 2018 “as a result of lower sales volumes, and to a lesser extent, a lower average realized gold price of US$1,265 per ounce compared to US$1,333 per ounce in the first quarter of 2018.” The company reported an adjusted net loss of US$17.9-million or 11 cents per share in the quarter, compared to adjusted net earnings of $14-million or 9 cents per share a year earlier. Analysts were expecting revenue of US$112.3-million and a loss of 4 cents per share.

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Enerflex Ltd. (EFX-T) reported revenue of $485-million in the first quarter, an increase from $385.8-million a year earlier and below expectations of $500.5-million. Net income was $17-million or 19 cents per share versus net income of $10.9-million or 12 cents a year earlier.

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Atlantic Power Corp. (ATP-T) reported first-quarter net income of $8.9-million versus $15.9-million a year ago. Project revenue came in at $73-million down from $80-million a year ago, the company stated.

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Pretium Resources Inc. (PVG-N; PVG-T) announced that executive chairman and founding shareholder Robert Quartermain will be retiring from the company on Dec. 31, 2019. “Pretivm’s board of directors has undertaken a succession plan to ensure a smooth transition and will elect a new chair prior to year-end,” the company stated. “It has also initiated a search process to identify a new director.”

The company also reported revenue of $103.1-million in the first quarter compared to revenue of $89.4-million in the first quarter of 2018. Net earnings were $4.2-million or 2 cents per share compared to a net loss of $8.1-million or 4 cents in the first quarter of 2018. Adjusted earnings were $16.5-million compared to $5.8-million in the first quarter of 2018.

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Interfor Corp. (IFP-T) recorded a net loss of $15.3-million or 23 cents per share in the first quarter compared to a profit of $32.7-million or 47 cents per share a year ago. Sales came in $451.2-million versus $527.6-million a year earlier. Analysts were expecting sales of $479.9-million and a loss of 14 cents in the latest quarter.

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Rogers Sugar Inc. (RSI-T) reported revenue of $189.2-million in the quarter ended March 30, which was relatively consistent with the year-earlier quarter. Adjusted EBITDA was $16.6-million down from $22-million a year earlier.

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May 03, 2019 at 04:53PM