Canadian market movers: Teranga Gold (T.TGZ) up 8.7%, Bombardier down

Elizabeth Walters Elizabeth Walters, Stockhouse
1 Comment| February 13, 2014


Here are the most active stocks on Thursday mid-morning on the TSX and TSX Venture Exchange.

On Thursday, the top TSX mover was Bombardier Inc. (TSX: T.BBD.B, Stock Forum). It lost 9.9% and was trading at $3.64 on volume of 37.7 million shares.
 
Today, the transportation equipment manufacturer announced its financial results for the fourth quarter and the fiscal year ended Dec. 31, 2013.
 
Revenues totalled $5.3 billion for the fourth quarter ended Dec. 31, 2013, compared to $4.6 billion for the corresponding period last fiscal year. For the year, revenues totalled $18.2 billion, an increase of 11% compared to $16.4 billion last fiscal year.
 
Teranga Gold Corp. (TSX: T.TGZ, Stock Forum) was the second most active stock on the TSX. The stock was up 8.7% and trading at $1.13 on volume of 4.4 million.

On January 28, the exploration company reported its fourth quarter results for the three months ended Dec. 31, 2013.
 
During the quarter, 46,561 ounces were sold at an average realized gold price of $1,249 per ounce. During the same prior year period, 71,604 ounces were sold at an average realized gold price of $1,296 per ounce including 33,606 ounces delivered into gold hedge contracts at an average price of $833 per ounce and 37,998 ounces sold at an average spot price of $1,705 per ounce.
 
Renegade Petroleum Ltd. (TSX: V.RPL, Stock Forum) was the volume leader on the TSX Venture Exchange. It gained 0.8% and was trading at $1.32 on volume of 8.4 million.
 
On February 11, Alexander Energy Ltd. (TSX: V.ALX, Stock Forum) and Renegade announced that they had entered into an agreement that provides for the combination of the companies to create a premier light oil focused high-growth company.
 
The second most active stock on the TSX Venture was WesternZagros Resources Ltd. (TSX: V.WZR, Stock Forum) It slipped 6.5% and was trading at $1.01 after 6.9 million shares changed hands.

Today, the oil and gas junior reported the completion of a revised resources assessment of its Kurdamir Oligocene reservoir in the Kurdistan Region of Iraq and there are no material changes. On the Garmian Block, declaration of commerciality has been filed, the Baram-1 exploration well has discovered light oil, albeit in low permeability reservoir, and the Hasira-1 well has thus far confirmed the extension of the Sarqala oil discovery in the Jeribe reservoir.


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duediligencedone
A chart so bad it looks good :) - Have a look at the chart of v.DAR (Darwin Resources.) Way too oversold now ! Currently at its 52 week and all-time low of 4.5 cents. Darwin Resources has $ 1.1 million in cash in their treasury. They recently raised just over $ 600,000 at 8 cents per share of which insiders participated in. Watch for a bounce back in v.DAR on Friday as early buyers scoop up the cheapies in a stock with a very small float (less than 34 million shares outstanding !) Darw...
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February 13, 2014
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