Sean Mason | April 7, 2016 | SmallCapPower
Carats were a shareholder’s best friend Thursday, while a healthcare play perked up following an acquisition. Here’s some small stocks making big moves on Thursday, April 7, 2016 (as of 4 pm EST):
Peregrine Diamonds Ltd. (TSX: PGD) shares jumped 6% to $0.18 on Thursday after the diamond explorer announced a resource update for its 100% owned Chidliak Diamond Project in Nunavut, which estimates a 33% increase in its contained carats from 8.57 million to 11.39 million.
Also, PyroGenesis Canada Inc. (TSXV: PYR) shares surged 33% to $0.22 after the developer of plasma waste-to-energy systems and plasma torch products reported that its plan to spin-off 80% of its Additive Manufacturing (3D Printing) business into an independent publicly-traded company, with the shares being distributed to existing PyroGenesis investors.
As well, shares of Sandvine Corporation (TSX: SVC) slipped 9% to $2.66 as the provider of network policy control solutions for fixed and mobile operators said its first-quarter net income fell 45% to $5.6 million, while revenue for the period rose 5% to $34.2 million.
Patient Home Monitoring (TSXV: PHM), meanwhile, reported that it has closed a bolt-on acquisition focused on providing respiratory services to patients in the Ohio market where the Patient Aids division currently operates. PHM paid approximately $2.6 million in cash for the acquisition, which is expected to increase annual revenues by about $5.5 million with an estimated increase of about $1.5 million of Adjusted EBITDA. Patient Home Monitoring stock moved up 12% to $0.29 following the announcement.
In addition, shares of Asanko Gold Inc. (TSX: AKG) rose 5% to $3.10 as the gold miner said that commercial production has been declared at Phase 1 of the Asanko Gold Mine, located in Ghana, West Africa, effective April 1, 2016, a quarter ahead of schedule. The Company added that it expects to produce 90,000 to 100,000 ounces of gold during the first half of 2016.
Finally, Smart Employee Benefits Inc. (TSXV: SEB) shares shot up 24% to $0.21 after the health benefits infrastructure provider announced that its fiscal 2015 revenue increased 151.5% to $50.3 million.
Disclosure: PyroGenesis Canada is SmallCapPower client company and has paid a fee for coverage.
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