Top pick Barrick Mining just raised its dividend a whopping 140% as it generates record earnings and continues its strategic asset reorganization.
Warner Music Group Corp. is well-positioned for higher-margin catalog revenues, added streaming adoption, and new AI monetization opportunities.
ARC Resources keeps returning its cash flow to shareholders through a growing dividend and substantial share buybacks.
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BIRCHCLIFF ENERGY $4.67 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Shares outstanding: 152.3 million; Market cap: $711.3 million; No dividends paid) explores for, develops and produce oil and gas, mainly in the Peace River Arch area near the Alberta-B.C. border. About 87% of its output is gas. The remaining 13% is oil. In the three months ended December 31, 2015, Birchcliff’s cash flow per share dropped 46.3%, to $0.22 from $0.41 a year earlier. Sharply lower oil and gas prices offset a 7.3% rise in daily production. The company continues to cut costs to support its cash flow. As well, in response to low prices, Birchcliff has reduced exploration and development spending for 2016. It will likely spend $128 million this year, down 45.0% from $242.7 million in 2015....
DELPHI ENERGY $1.17 (Toronto symbol DEE; TSINetwork Rating: Speculative) (403-265-6171; www.delphienergy.ca; Shares outstanding: 155.5 million; Market cap: $182.0 million; No dividends paid) explores for, develops and produces oil and natural gas in Alberta. About 66% of its output is gas; the remaining 34% is oil. In the three months ended December 31, 2015, Delphi’s production fell 26.8%, to 8,814 barrels of oil equivalent per day from 12,035 a year earlier. That was after the company sold some fields. The lower output offset a 9.9% average increase in realized oil and gas prices. The higher prices were due to hedging contracts, whereby the company sold its oil and gas forward at above-market prices. As a result, cash flow per share fell just 10%, to $0.09 from $0.10. For the rest of 2016, Delphi has sold 75% of its gas production at nearly double current market prices. It has also sold 50% of its 2017 gas output at similar prices....
MART RESOURCES $0.25 (Toronto symbol MMT; TSINetwork Rating: Speculative) (403- 270-1841; www.martresources.com; Shares outstanding: 356.6 million; Market cap: $89.2 million; No dividends paid) has been successfully taken over at $0.25 a share by a consortium. Midwestern Oil and Gas Company Ltd., San Leon Energy plc and 1038221 B.C. Ltd. make up the group of buyers. Apart from regulatory and shareholder approvals, the deal was contingent on the consortium arranging financing. The transaction ran into a number of delays, but was finally able to attract the funds it needed for the takeover....
YAMANA GOLD $5.43 (Toronto symbol YRI; TSINetwork Rating: Speculative) (416-815-0220; www. yamana.com; Shares outstanding: 947.2 million; Market cap: $5.3 billion; Dividend yield: 0.5%) owns and operates 10 gold mines in Canada, Mexico, Brazil, Chile and Argentina. It also holds a 12.5% stake in the Alumbrera copper/ gold mine in Argentina and has a number of other properties in advanced stages of development. In the three months ended December 31, 2015, the company’s gold production fell 1.9%, to 345,788 ounces from 352,572 a year earlier. The decline was the result of lower output at some of Yamana’s smaller mines. Gold prices fell 8.2% in the latest quarter. That, plus the lower production, cut Yamana’s cash flow by 14.8%, to $150.5 million from $176.7 million. (All figures except share price and market cap in U.S. dollars.) Cash flow per share declined 20.0%, to $0.16 from $0.20, on more shares outstanding....