Latest Reports on Lithium X Energy, Rusoro Mining, Baytex Energy, and First Quantum Minerals

NEW YORK, NY / ACCESSWIRE / August 25, 2016 / Canadian markets slumped Wednesday as the loonie continued to fall on dropping precious metals and oil prices. The S&P/TSX Composite Index declined 0.94 percent to close at 14,626.24, up approximately 0.39 percent this week. The S&P/TSX Venture Composite Index fell 3.46 percent to close at 789.52, down approximately 5.19 percent so far this week. The loonie was trading at 1.2942 against the U.S. dollar at 9:07 a.m. EDT. Additionally, the Albertan government has recently increased its budget deficit forecasts for 2016-17 to $10.9 billion, putting further strain on Canada’s economy.

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Lithium X Energy Corp. (TSX-V: LIX)

Get Your Up-To-Date Lithium X Energy Research Report at www.rdinvesting.com/company/LIX.

Lithium X Energy shares dropped 4.80 percent to close at C$2.18 a share Wednesday. The stock traded between C$2.14 and C$2.31 on volume of 344,402 shares traded. LiTHIUM X is a lithium resource explorer and developer with a focus on becoming a low-cost supplier for the burgeoning lithium battery industry. On July 27th, the company announced that it has commenced drilling at its Clayton Valley North lithium project in Nevada. Shares of Lithium X Energy have gained approximately 384.4 percent year-to-date and are up roughly 34.6 percent in the past month.

Rusoro Mining Ltd. (TSX-V: RML)

Get Your Up-To-Date Rusoro Mining Research Report at www.rdinvesting.com/company/RML.

Rusoro Mining’s shares fell 10.14 percent to close at C$0.31 a share Wednesday. The stock traded between C$0.30 and C$0.41 on volume of 8.01 million shares traded. On Tuesday, The Globe and Mail reported an “international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than $1.2-billion for expropriating its gold mines.” The fine is payable immediately and Rusoro expects the Venezuela to comply with its obligations. Shares of Rusoro Mining have gained approximately 463.6 percent year-to-date and are up roughly 158.3 percent in the past month.

Baytex Energy Corp. (TSX: BTE)

Get Your Up-To-Date Baytex Energy Research Report at www.rdinvesting.com/company/BTE.

Baytex Energy’s shares declined 5.27 percent to close at C$6.47 a share Wednesday. The stock traded between C$6.42 and C$6.84 on volume of 6.06 million shares traded. Baytex Energy generated production of 70,031 barrels of oil equivalent per day (boe/d), with 77 percent production in oil and natural gas liquids, in the second quarter of 2016. The company reported a loss of C$86.93 million in the second quarter. Shares of Baytex Energy have gained approximately 44.4 percent year-to-date, but have fallen roughly 5.8 percent in the past month.

First Quantum Minerals Limited (TSX: FM)

Get Your Up-To-Date First Quantum Minerals Research Report at www.rdinvesting.com/company/FM.

First Quantum Minerals’ shares dropped 8.01 percent to close at C$11.08 a share Wednesday. The stock traded between C$10.96 and C$11.94 on volume of 6.66 million shares traded. The company set new quarterly records for copper production and sales of 131,349 tonnes and 132,030 tonnes, respectively, in the second quarter of 2016. The company’s realized average price for copper of $2.21 per pound in the second quarter, exceeded the average London Metal Exchange price of $2.15 per pound. Shares of First Quantum Minerals have gained approximately 113.9 percent year-to-date and are up roughly 10.9 percent in the past month.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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