Melkior Resources Inc. (TSXV:MKR), a gold explorer, gained ground after completing the first phase of Leapfrog Drill database processing at its Carscallen project
A potentially high-grade gold system attracted speculators to shares of a gold explorer Friday. Here’s some small stocks making big moves on Friday, June 26, 2020 (as of 4 pm EST):
Melkior Resources Inc. (TSXV:MKR) shares climbed 24% to $0.94 on Friday after the gold explorer announced that it has completed the first phase of Leapfrog Drill database processing at its Carscallen project in northern Ontario, which the Company believes outlines the potential of a high-grade gold system that currently has 800 meters of potential strike and is open in all directions.
As well, shares of Corus Entertainment Inc. (TSX:CJR.B) fell 17% to $2.92 as the Canadian media company said its third-quarter revenue dropped 24% to $349 million, missing analyst expectations, while swinging to a net loss of $752.3 million from a profit of $66.4 million during the same period last year.
Profound Medical Corp. (TSX:PRN) stock, meanwhile, moved up 15% to $22.22 after Raymond James analyst Rahul Sarugaser raised his target price to $38 per share from $35 while maintaining a “Strong Buy” rating on the stock, estimating “revenue without reimbursement of $9.8 million, $26.1 million, and $61.0 million during 2020, 2021, and 2022, respectively.”
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.