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MT Newswires Canada Stocks To Watch: Barrick; Descartes; Royal Bank; Americas Gold and Silver Corp; Anaergia; Payfare
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MT Newswires Canada Stocks To Watch: Barrick; Descartes; Royal Bank; Americas Gold and Silver Corp; Anaergia; Payfare
Mar 31, 2024 4:35 PM

07:00 PM EDT, 03/31/2024 (MT Newswires) -- (The following companies were in the news over the holiday weekend between 5pm ET on Thursday and 7pm ET on Sunday).

Barrick Gold Corporation ( GOLD ) Chairman John Thornton in the company's 2024 Information Circular said the company's balance sheet, "once burdened by heavy debt, is now one of the industry's most robust and its strong operational cash flows ensure that it has the capacity to fund existing and new organic growth projects, as well as to take advantage of any fresh opportunities that meet the company's stringent investment criteria."

For its part, Descartes Systems Group ( DSGX ) , a global player in uniting logistics-intensive businesses in commerce, and trading at the high end of its 52 week range on the TSX, announced that it has acquired OCR Services, Inc, a provider of global trade compliance solutions and content. OCR is headquartered in Rockville, Maryland. Descartes acquired OCR for approximately US$90 million, satisfied from cash on hand.

Meanwhile, upon completion of the acquisition of HSBC Bank Canada by Royal Bank of Canada ( RY ) (RY.TO, RY), HSBC Global Asset Management (Canada) Limited, HSBC Canada's asset management division, became a wholly-owned subsidiary of RBC and is renamed RBC Indigo Asset Management Inc. In addition, all HSBC Mutual Funds and HSBC Pooled Funds managed by RBC Indigo will be referred to as RBC Indigo Mutual Funds and RBC Indigo Pooled Funds and renamed.

Elsehwere, Americas Gold and Silver Corporation ( USAS ) , a growing North American precious metals producer, trading near 52 week lows on the TSX, reported revenue increased to US$89.6 million for 2023 or 5% compared to $85.0 million for 2022, resulting from higher silver production, offset by lower mill throughput, lower base metal production, and lower realized zinc price during the year. It reported a net loss of $38.2 million for 2023, or an attributable loss of $0.16 per share, including a $6.0 million impairment and $3.2 million care and maintenance charge at the Relief Canyon property. The net loss represents a decrease in net loss of $7.0 million compared to 2022. "Silver production during 2023 increased by 56% year-over-year which represents the company's first step in increasing its production to more silver-copper mineralization at the company's two producing mines," said President and CEO Darren Blasutti. "The company expects healthy silver production growth in 2024 and a further step change in 2025 as it brings on its silver-copper EC120 Project at the Cosala Operations and finishes the maintenance on the Galena shaft. The company is also encouraged by the impressive high-grade, silver-copper mineralization that it has recently drilled near infrastructure at the Galena Complex which could positively impact production both near and longer term."

On earnings delays, Anaergia Inc. ( ANRGF ) announced a delay in the filing of Its Audited Financial Statements and Related Disclosure. The company added it will be in a position to file the required documents on or about April 15, 2024. Separately, Anaergia ( ANRGF ) announced that, following the initiation on March 28, 2024 by Marny Investissement SA of a C$13.6 million wire payment and its bank confirmation of the same, the second tranche of the previously announced equity investment of C$40.8 million from Marny has closed, in escrow

Payfare Inc. ( PYFRF ) (also announced delay in its annual filings. The company reaffirmed its previously issued fourth quarter and full year 2023 guidance on its revenues and earnings and reiterated that the delay in receiving an SOC 1 report from a vendor has no impact on its financial outlook. It expects to remedy the default in filing by April 12, 2024.

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