TransAmerican Energy (V.TAE) up 15% on Superior Court of Quebec’s decision: 52-week high and low rep

Stockhouse Editorial
0 Comments| February 14, 2014


A report on TSX and Venture companies that have hit their 52-week high and low during trading on Friday, February 14.

The first company on the TSX to hit a 52-week high was Precision Drilling Corp. (TSX: T.PD, Stock Forum), which hit a new high of $11.39 after gaining 2.3% and since February 1 has enjoyed a 17% lift.

The stock has lifted over 2013 from a 52-week low of $7.47 in April.


On February 13, the oilfield services company declared a first quarter dividend on Precision's common shares of $0.06 per share, payable on March 14, 2014, to shareholders of record on Feb. 27, 2014.

Net earnings for the quarter were $68 million, or $0.24 per diluted share, compared to a net loss of $116 million, or $0.42 per diluted share, in the fourth quarter of 2012. 


On the low side of the TSX, The Cash Store Financial Services Inc. (TSX: T.CSF, Stock Forum) lost 36.5% to $0.66 a share. Since February 1, has lost 39.1%

The stock has been quite volatile and has fallen from a 52-week high of $3.45 in May.


On February 13, the lender and broker of short-term advances reported that the Registrar of the Ministry of Consumer Services in Ontario has issued a proposal to refuse to issue a license to the company's subsidiaries, The Cash Store Inc. and Instaloans Inc. under the Payday Loans Act, 2008.

 
On the Venture, the top 52-week high gainer was TransAmerican Energy Inc. (TSX: V.TAE, Stock Forum), which soared 15.4% to $0.075 a share. Since February 1, has gained 220.4%.

The stock rose sharply on February 12, up from a 52-week low of $0.01 in January.


On February 13, oil and gas companies on Anticosti Island, Quebec received a favorable decision on Feb. 11, 2014 from the Superior Court of Quebec invalidating a Gaspe municipal by-law that would restrict drilling locations within municipality limits.


On the low side, AMI Resources Inc. (TSX: V.AMU, Stock Forum) slipped 33.3% to a new 52-week low of $0.02. Since February 1, the stock has slipped 88.3%

The stock is down from a 52-week high of $0.10 in March.

The exploration and development company had no news.


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