Oil and Gas Junior Pumps Up on Financial Results

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Cub Energy Inc. (CVE:KUB), an oil and gas junior, rose after announcing first-quarter net income of $900,000

Sean Mason | May 18, 2017 | SmallCapPower

Q1 financial results grabbed the attention of more than a few oil & gas junior speculators Thursday. Here’s some small stocks making big moves on Thursday, May 18, 2017 (as of 4 pm EST):

Cub Energy Inc. (TSXV: KUB) shares gained 14% to $0.04 on Thursday after the Ukraine-focused oil & gas junior announced first-quarter net income of $900,000 from an equity investment of $2.1 million, which was largely driven by a $6.88/mcf average natural gas price and a $4.58/mcfe netback.

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As well, shares of EnGold Mines Ltd. (TSXV: EGM) slid 26% to $0.335 as the mineral exploration company revealed assay results from two holes within the step-out drilling program 1.8 km south of the Spout Skarn Deposit at its 100% owned Lac La Hache Property in British Columbia, which indicated that the mineralization in this location appears to be narrowing to the south, east and west, as shown by the local magnetic and gravity geophysical anomalies in this discovery area.

ATS Automation Tooling Systems Inc. (TSX: ATA), meanwhile, reported fourth-quarter revenue that rose 8% to $265.7 million, while earnings per share for the quarter came in at $0.08, up from $0.02 during the same period last year. ATS stock moved up 8% to $12.38 following the announcement.

Finally, Posera Ltd. (TSX: PAY) shares powered 15% higher to $0.155 after the provider of software solutions for the hospitality industry announced the completion of certification with Vantiv, the largest payment processor in the U.S., for Posera’s pay-at-the-table (PATT) solution, SecureTablePay.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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