Record earnings and a dividend increase boosted a Canadian financial services stock Wednesday. Here’s some small stocks making big moves on Wednesday, July 31, 2019 (as of 4 pm EST):
Equitable Group Inc. (TSX:EQB), a Canadian financial services stock, jumped 15% to $92.20 on Wednesday after announcing record Q2 Adjusted Diluted earnings per share of $3.18, up 31% year over year. The Company added that it will increase its dividend 22% beginning in September, which is keeping with its commitment to grow Equitable’s dividend at a rate of between 20% to 25% in each of the next five years.
As well, shares of Golden Star Resources Ltd. (TSX:GSC) slid 17% to $4.70 as the gold miner said its Q2 gold production fell 21% year over year to 48,422 ounces, while the Company also lowered its production guidance for 2019 to 190,000-205,000 ounces from 220,000-240,000 ounces.
North American Construction Group Ltd. (TSX:NOA), meanwhile, reported second-quarter revenue of $176.9 million, a 123% increase from the same period last year, while EBITDA for the quarter rose 144% to $37.1 million. North American Construction stock moved up 19% to $16.55 following the announcement.
Finally, CannTrust Holdings Inc. (TSX:TRST) shares rose 9% to $3.09 after the Canadian cannabis company announced that it will explore strategic alternatives, which could include, among other things, a sale of the Company or a portion thereof, a strategic investment, a business combination, changes to the Company’s operations or strategy, or continuing to execute on the Company’s current business plan.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Equitable Group Inc. (TSX:EQB), a Canadian financial services stock, jumped 15% to $92.20 on Wednesday after announcing record Q2 Adjusted Diluted earnings per share of $3.18, up 31% year over year. The Company added that it will increase its dividend 22% beginning in September, which is keeping with its commitment to grow Equitable’s dividend at a rate of between 20% to 25% in each of the next five years.
