4:05pm: Savaria rallies late afternoon, Equinox Gold falls
Equinox Gold Corp (TSX:EQX) shares sank 14% to close at $3.44 on Thursday after the Canadian gold miner announced that its full-year production would fall short of expectations, while production costs will likely exceed the upper-end of its target range due to inflationary pressures.
As well, shares of Canaccord Genuity Group Inc (TSX:CF) climbed 8% to $6.92 as the independent, full-service financial services firm said its capital markets advisory revenue for 2Q 2023 rose 22.2% quarter over quarter, while the company's global wealth management revenue increased by 1.8% year over year. Canaccord also declared a second-quarter dividend of $0.085 per share.
Aduro Clean Technologies Inc (CSE:ACT), meanwhile, reported that it has been accepted into the Shell GameChanger program, an accelerator designed to partner with businesses to deliver innovative solutions that have the potential to drastically impact the future of energy and the transition to net-zero emissions.
Aduro is a Canadian developer of patented water-based technologies to chemically recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels. Its stock moved up 7% to $0.87 following the announcement.
In addition, shares of Savaria Corporation (TSX:SIS) jumped 12% to $14.61 as the provider of products for the accessibility industry said its third-quarter 2022 revenue increased 11.4% to $201.4 million, while its net earnings for the quarter were $0.16 per share, up from $0.07 per share during the same period last year.
And, PyroGenesis Canada Inc (TSX:PYR) shares rose 8% to $1.24 on Thursday after the manufacturer of advanced plasma processes announced that it has been engaged by a major international aluminum company to help in decarbonization efforts by using its plasma torches as a heating source in cast house furnaces.
11:45am: Canaccord Genuity Group moves sharply higher, Equinox Gold falls
Equinox Gold Corp (TSX:EQX) shares sank 15% to $3.41 on Thursday after the Canadian gold miner announced that its full-year production would fall short of expectations, while production costs will likely exceed the upper-end of its target range due to inflationary pressures.
As well, shares of Canaccord Genuity Group Inc (TSX:CF) climbed 10% to $7.10 as the independent, full-service financial services firm said its capital markets advisory revenue for 2Q 2023 rose 22.2% quarter over quarter, while the company's global wealth management revenue increased by 1.8% year over year. Canaccord also declared a second-quarter dividend of $0.085 per share.
Aduro Clean Technologies Inc (CSE:ACT), meanwhile, reported that it has been accepted into the Shell GameChanger program, an accelerator designed to partner with businesses to deliver innovative solutions that have the potential to drastically impact the future of energy and the transition to net-zero emissions.
Aduro is a Canadian developer of patented water-based technologies to chemically recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels. Its stock moved up 11% to $0.90 following the announcement.
And, PyroGenesis Canada Inc (TSX:PYR) shares rose 9% to $1.25 on Thursday after the manufacturer of advanced plasma processes announced that it has been engaged by a major international aluminum company to help in decarbonization efforts by using its plasma torches as a heating source in cast house furnaces.
READ: PyroGenesis says engaged by a major international aluminum company to help in decarbonization efforts
Contact Sean at sean@proactiveinvestors.com