Latest Reports on Market Movers Birchcliff Energy, Centerra Gold, Methanex, and Silver Standard Resources

NEW YORK, NY / ACCESSWIRE / August 24, 2016 / Canadian markets were buoyed by the financial sector Tuesday after the Bank of Montreal reported earnings that topped expectations. The S&P/TSX Composite Index increased 0.11 percent to close at 14,764.77, with the financial sector increasing 0.80 percent. The materials sector, which includes metals miners and fertilizer companies, fell 1.08 percent. Potash Corporation of Saskatchewan Inc. was one of the bright spots of the materials group with a 2.71 percent increase.

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Birchcliff Energy Ltd. (TSX: BIR)

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

Birchcliff Energy’s shares increased 3.07 percent to close at $9.07 a share Tuesday. The stock traded between $8.76 and $9.19 on volume of 1.44 million shares traded. Scotiabank has recently reaffirmed its “focus stock” rating on Birchcliff Energy. The firm currently has a price target of $12.00 on the stock. Birchcliff reported average production of 39,513 barrels of oil equivalent per day and record low operating costs of $3.45 per barrel of oil equivalent in the second quarter of 2016. Shares of the Birchcliff Energy have gained approximately 124.5 percent year-to-date and are up roughly 5.0 percent in the past month.

Centerra Gold Inc. (TSX: CG)

Get Your Up-To-Date Centerra Gold Research Report at www.rdinvesting.com/company/CG.

Centerra Gold’s shares dropped 10.59 percent to close at $6.84 a share Tuesday. The stock traded between $6.78 and $7.40 on volume of 1.94 shares traded. The company expects gold production to be between 500,000 to 530,000 ounces for 2016. Centerra reported sales of 127,909 ounces of gold in the second quarter of 2016. Shares of Centerra Gold have gained approximately 3.8 percent year-to-date, but have fallen roughly 7.6 percent in the past month.

Methanex Corporation (TSX: MX)

Get Your Up-To-Date Methanex Research Report at www.rdinvesting.com/company/MX.

Methanex’s shares spiked 4.80 percent to close at $39.31 a share Tuesday. The stock traded between $37.25 and $39.58 on volume of 287,602 shares traded. Methanex Corporation is a producer and supplier of methanol to a range of international markets. On July 28th, the company announced that it had entered into gas supply agreement with Empresa Nacional del Petroleo (ENAP). Shares of Methanex have fallen approximately 14.0 percent year-to-date and are up roughly 5.2 percent in the past month.

Silver Standard Resources Inc. (TSX: SSO)

Get Your Up-To-Date Silver Standard Resources Research Report at www.rdinvesting.com/company/SSO.

Silver Standard Resources’ shares increased 1.39 percent to close at $18.92 a share Tuesday. The stock traded between $18.88 and $19.72 on volume of 1.02 million shares traded. The company reported revenues were $118.8 million for the second quarter of 2016, compared to $95.8 million in the second quarter of 2016. Analysts at BMO Capital Markets have recently upgraded the company’s rating to “outperform” from “market perform.” Shares of Silver Standard Resources have gained approximately 164.3 percent year-to-date and are up roughly 9.0 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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