Financial results boosted a Canadian tech stock Friday. Here’s some small stocks making big moves on Friday, February 28, 2020 (as of 11:30 am EST):
Tecsys Inc. (TSX:TCS), a Canadian tech stock, gained 8% to $20.89 on Friday after announcing record third-quarter revenue of $26.8 million, up 43% from the same period last year, while swinging to a net profit of $0.06 per share from a loss of $0.11 per share a year earlier.
As well, shares of Ely Gold Royalties Inc. (TSXV:ELY) added 3% to $0.64 as the junior royalty company said it has agreed to acquire privately-held Nevada corporation VEK Associates, in consideration for US$5 million in cash and plus 2,005,164 Ely Gold share purchase warrants, each exercisable over a 24-month term to purchase one Ely Gold common share at an exercise price of C$0.62 per share. VEK’s principal assets consist of five royalty properties and leases, four of which are with Nevada Gold Mines JV (Barrick 61.5%/Newmont 31.5%).
Mogo Inc. (TSX:MOGO), meanwhile, reported a three-year lending partnership with goeasy Ltd. (TSX:GSY), as well as the sale of the majority of its MogoLiquid loan portfolio to goeasy for $31.9 million. Mogo stock eased 8% to $2.95 following the announcement.
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.
Tecsys Inc. (TSX:TCS), a Canadian tech stock, gained 8% to $20.89 on Friday after announcing record third-quarter revenue of $26.8 million, up 43% from the same period last year, while swinging to a net profit of $0.06 per share from a loss of $0.11 per share a year earlier.
, on Friday.){kind=link}