It was a tepid start to the week for Canadian stocks as the TSX Index struggled to gain any positive moment on Monday. The Index dropped by 32.49 points (0.19%) despite the fact that oil and gold posted positive daily gains. Oil jumped by 62 basis points, while the price of gold gained almost a full percentage point (0.94%).
TSX DAILY GAINERS
- DHX Media (TSX:DHX): 11.04%
- Jaguar Mining (TSX:JAG):10.53%
- Mountain Province Diamonds (TSX:MPVD): 10.34%
- First Mining Corp (TSX:FF): 9.62%
- Gogold resources (TSX:GGD): 9.38%
- Endeavour Silver Corp (TSX:EDR): 9.34%
- Turquoise Hill Resources (TSX:TRQ): 8.57%
- Just Energy Group (TSX:JE): 7.68%
- Below Sun Mining Corp (TSX:BSX): 7.69%
- Helix Biopharm (TSX:HPG): 7.48%
Of those listed, DHX Media (TSX:DHX) stands out as the lone non-resource company. DHX reported fourth quarter earnings. The company posted a loss of $0.47 (vs -0.06 expected) on revenue of $108.8 million (vs $104.16 million expected).
The biggest surprise however, was that the company announced its intentions to re-brand. It is changing its name to WildBrain, the name of its child-related YouTube Channel, and will undergo a company-wide reorganization. The changes are the first significant moves under former Marvel boss Eric Ellenbogen who was appointed as CEO only a short month ago.
The company has its work cut out for it, but the market approves of the new direction as it sent its share price soaring.
TSX DAILY LOSERS
- Nemaska Lithium (TSX:NMX): -12.50%
- Golden Star Resources (TSX:GSC): -10.72%
- Osisko Gold Royalties (TSX:OSK): -9.96%
- First Quantum Minerals (TSX:FM): -9.66%
- Real Matters (TSX:REAL): -8.90%
- Storm Resources (TSX:SRX): -8.09%
- Stelco Holdings (TSX:STLC): -6.97%
- Burcon Intersciences (TSX:BU): -6.04%
- Valeura Energy (TSX:VLSE): -5.20%
- Neptune Wellness Solutions (TSX:NEPT): -5.13%
First Quantum Minerals (TSX:FM) took a hit on Monday after it came out and announced it had not explored a sale of the company. Last week, rumors were afloat that a Chinese company was in talks to takeover the company. First Quantum denied said talks, although it did say it was in talks to sell a minority stake in its Zambian copper assets.
Osisko Gold (TSX:OSK) dropped on news that it was buying out the remaining shares of Barkerville Gold. Osisko already had a 32.6% stake in the company and it is expected to fund the purchase by issuing shares. It is expected to issue 0.0357 shares of Osisko for each Bakersville share. The reason for the drop? Further share dilution.