More than a few speculators likely cashed in with a gaming stock Thursday following encouraging revenue, earning growth. Here’s some small stocks making big moves on Thursday, May 10, 2018 (as of 4 pm EST):
Great Canadian Gaming Corporation (TSX:GC), a gaming stock, surged 27% to $47.22 on Thursday after announcing a 62% rise in its first-quarter revenue to $230.5 million, along with net earnings of $29.2 million, an increase of 64% from the same period last year.
As well, shares of Dunnedin Ventures Inc. (TSXV:DVI) slipped 11% to $0.255 as the diamond explorer said unusually poor weather allowed it to test just a handful of targets as part of the ongoing 2018 drill program at its 100%-owned Kahuna project in Nunavut.
ValGold Resources Ltd. (TSXV:VAL), meanwhile, reported that it has agreed to be acquired by Metalla Royalty & Streaming Ltd. (TSXV:MTA) in an all-stock transaction valued at approximately $7.2 million. ValGold shareholders will receive 0.1667 of a Metalla common share for each ValGold share held. ValGold Resources stock popped 50% to $0.12 following the announcement.
Finally, PetroFrontier Corp. (TSXV:PFC) shares gained 70% to $0.085 as the junior energy company announced a development agreement with Bigstone Oil & Gas Ltd., the wholly-owned energy company of the Bigstone Cree Nation, for an initial 3,040 acres of oil and gas rights from surface to the base of the Mannville in the Wabasca area of north-central Alberta.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Great Canadian Gaming Corporation (TSX:GC), a gaming stock, surged 27% to $47.22 on Thursday after announcing a 62% rise in its first-quarter revenue to $230.5 million, along with net earnings of $29.2 million, an increase of 64% from the same period last year.
