Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Eldorado Gold Corp. (ELD-T; EGO-N) reported second quarter revenues of $153.2-million up from $82.7-million a year ago. Its net loss was $24.4-million or 3 cents per share versus a profit of $11.2-million or 2 cents a year ago. Analysts were expecting revenue of $121.3-million and a loss of a penny per share in the latest quarter.
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Summit Industrial Income REIT (SMU-UN-T) says it will acquire a single-tenant logistics facility in Oshawa, Ont. for $36.6-million. “We continue to build our presence in the Greater Toronto Area, a key target of our growth programs and Canada’s strongest industrial property market,” stated CEO Paul Dykeman.
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Nevsun Resources Ltd. (NSU-T; NSU-A), which is the target of a hostile takeover bid from Lundin Mining (LUN-T), reported second-quarter revenue of US$76.4-million up from US$66.1-million a year ago. Its net loss was US$9.3-million or 3 cents per share versus a loss of US$57.9-million or 9 cents a year ago. Analysts were expecting revenue of US$91.1-million and earnings of zero cents per share in the latest quarter.
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Aecon Group Inc. (ARE-T) reported second-quarter revenue of $755-million, which it said was higher by $69-million or 10 per cent compared to the second quarter of 2017. Its profit was $8.4-million or 13 cents per share versus a profit of $800,000 or a penny per share last year. Analysts were expecting revenue of $754.8-million and earnings of 13 cents per share in the latest quarter.
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StorageVault Canada Inc. (SVI-X) says its has entered into four asset purchase agreements with four unrelated parties to buy five stores in Ontario, two in Quebec and one in Saskatchewan for a total of $43.7-million.
With the acquisitions, StorageVault will own 103 stores across Canada for a total of 159 stores when including managed stores.
Year to date, StorageVault has closed or announced $148-million in acquisitions, “exceeding our revised acquisition outlook of $90-to-$110-million,” the company stated.
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AGT Food and Ingredients Inc.'s (AGT-T) largest shareholder, Letko, Brosseau & Associates Inc. – an independent investment manager which controls about 18.6 per cent of AGT – said it intends to vote against the recently proposed management buyout of the company.
“Based on the firm’s analysis, the proposed offer significantly undervalues the company and we remind the company’s board of directors of its duty to consider the interests of all shareholders in reviewing the merits of this offer,” the firm stated in a release.