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Friday's most followed in Canada including BlackBerry, Fairfax, Bankers Petroleum, Harry Winston, Northland Resources, SilverCrest Mines, Rathdowney Resources

Friday's most followed in Canada including BlackBerry, Fairfax, Bankers Petroleum, Harry Winston, Northland Resources, SilverCrest Mines, Rathdowney Resources


Toronto's main market rose on Friday as prices for key commodities gained amid an unexpected drop in a gauge of consumer sentiment in the U.S. 

On the corporate front, shares of BlackBerry (TSE:BB) (NASDAQ:BBRY) lost more than 2.3% in Toronto as rival Samsung (KRX:005930), the biggest seller of smartphones, unveiled Galaxy S4, the latest in its best-selling Galaxy line late Thursday. Shares of Apple (NASDAQ:AAPL), rose on Friday in the U.S., however. 

Shares of Fairfax Holdings (TSE:FFH) rose, despite Greece's National Bank saying the Canadian investment fund's interest in taking part in its recapitalization has stalled because Fairfax wanted certain amendments to the terms, which were not in the bank's control. 

Bankers Petroleum (TSE:BNK), which produces oil and gas in Albania, said its last year's profit fell 4 percent as costs and royalties increased. Full-year net income as of December 31 dropped to $34.4 million from $35.9 million a year earlier, the Calgary-based company said in a statement on Friday. 

Elsewhere in energy, Casimir Capital resumed coverage Friday on Sterling Resources (CVE:SLG) after the company successfully raised $63.3 million to shore up its funding position for its Breagh project. The oil and natural gas producer operates primarily in the United Kingdom, Romania, the Netherlands and France. It has three key projects: Breagh, Cladhan and Ana/Doina. 

In metals and mining news, shares of Harry Winston Diamond Corp. (TSE:HW) (NYSE:HWD) were up Friday, after it reported an updated reserves and resources report at its Diavik diamond mine at Lac de Gras, Northwest Territories.

Northland Resources SA (TSE:NAU), a producer of iron ore concentrate, will have its common shares delisted from the Toronto Stock Exchange (TSX) at the close of market on Friday.

Northland has received notice from the TSX that the company has failed to meet the continued listing requirements of the Toronto bourse, following a decision to file for corporate reorganization of its three Swedish units, the Luxembourg-based company said in a statement on Friday, citing CEO Karl-Axel Waplan.

Moving to the junior markets, SilverCrest Mines (CVE:SVL) (NYSE MKT:SVLC) received some bullish coverage from analysts this morning, a day after announcing a sharp boost in fourth quarter profit on the back of lower annual income taxes, and as silver sales reached a quarterly record. 

Jennings Capital re-initiated coverage Friday on the Mexico-focused silver miner, with a buy rating and a 12-month price target of $3.50 per share, with an implied return of 41 percent. 

Stonecap Securities' Christos Doulis also maintained his outperform rating and $3.90 price target on SilverCrest after the results, with the analyst highlighting better-than-expected annual cash costs, which came in at $7.39 per silver equivalent ounce for the year, compared to management's guidance for $8.20 per ounce. 

Equities research firm PI Financial initiated coverage on Rathdowney Resources (CVE:RTH) earlier this week, with a “buy” recommendation, citing the company’s proximity to infrastructure, exploration upside and near term catalysts.

Rathdowney is working to develop its 100-per-cent-owned Olza zinc project, located in the Upper Silesian Mining District in Poland – a Brownfield historical mining district with access to mining and logistical infrastructure. 

Otis Gold (CVE:OOO) is currently chasing many different opportunities when it comes to its Kilgore asset in Idaho as challenging times for juniors are calling for creative measures, says the Canadian company's chief, Craig Lindsay, as he sat for a chat with Proactiveinvestors at the PDAC conference last week. 

Marifil Mines (CVE:MFM) says it has closed the private placement financing it announced last month, raising $950,000 in new funds that will be used for exploration and development activities on its properties in Argentina. The junior explorer issued 19.0 million units at 5 cents each, subject to final exchange approval. 

Rock Tech Lithium (CVE:RCK) says it has received approval from the TSX Venture Exchange for the $600,000 loan transaction it announced last month. The new funds will be used for working capital and to deal with "short term" obligations, the lithium and graphite explorer said. 


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Canadian Market Wrap Timeline

October 16 2015

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