Latest Reports on Canacol Energy, Lucara Diamond, ProMetic Life Sciences, and Royal Bank of Canada

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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Canacol Energy Ltd. (TSX: CNE)

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Canacol Energy shares gained 4.98 percent to close at C$4.22 a share Wednesday. The stock traded between C$4.09 and C$4.22 on volume of 483,305 shares traded. On Wednesday, the company provided a positive update on its Nispero 1 exploration well on the Esperanza exploration. Canacol Energy also announced plans to double its gas-drilling program for the rest of 2016. Shares of Canacol Energy have gained approximately 52.4 percent year-to-date and are up roughly 0.96 percent in the past month.

Lucara Diamond Corp. (TSX: LUC)

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Lucara Diamond’s shares declined 2.76 percent to close at C$4.22 a share Wednesday. The stock traded between C$4.21 and C$4.33 on volume of 348,269 shares traded. The company has announced plans to install four new XRT diamond recovery units at its Karowe mine in Botswana. The project is estimated to cost up to $30-million and is expected to be completed in fourth quarter 2017. Shares of Lucara Diamond have gained approximately 87.6 percent year-to-date and are up roughly 11.9 percent in the past month.

ProMetic Life Sciences Inc. (TSX: PLI)

Get Your Up-To-Date ProMetic Life Sciences Research Report at www.rdinvesting.com/company/PLI.

ProMetic Life Sciences’ shares gained 1.77 percent to close at C$2.88 a share Wednesday. The stock traded between C$2.80 and C$2.99 on volume of 1.69 million shares traded. The company announced an agreement to acquire Telesta Therapeutics Inc. in an all share transaction. ProMetic will acquire all of the share capital of Telesta at a price of C$0.14 payable in ProMetic common shares. Shares of ProMetic Life Sciences have fallen approximately 14.3 percent year-to-date and are down roughly 5.9 percent in the past month.

Royal Bank of Canada (TSX: RY)

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Royal Bank of Canada’s shares declined 0.45 percent to close at C$81.86 a share Wednesday. The stock traded between C$81.55 and C$83.00 on volume of 2.67 million shares traded. Royal Bank of Canada reported a net income of C$2.9 billion for the second quarter of 2016, which was an increase of C$420-million or 17 percent when compared to the second quarter of 2015. Additionally, the Royal Bank of Canada raised its quarterly dividend by 2 percent to C$0.83 per share. Shares of Royal Bank of Canada have gained approximately 10.4 percent year-to-date and are up roughly 2.8 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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