S&P/TSX Venture Composite Movers: Patient Home Monitoring Corp, Leucrotta Exploration, Sirona Biochem Corp

James West
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Patient Home Monitoring Corp. (CVE:PHM) (OTCMKTS:PHMZF), Leucrotta Exploration Inc. (CVE:LXE), and Sirona Biochem Corp (CVE:SBM) are all high trader today on the S&P/TSX Venture Composite Index(INDEXTSI:JX) shares continue to slide in value providing an extraordinary buying opportunity for investors seeking to gain access to the company’s growing earnings profile at a very reasonable point of entry. The company’s shares are down another cent and a half today on volume of 1.83 million shares traded, a dip of 3.03 percent. Weakness in the healthcare sector overall as a result of growing fears of Canadian healthcare companies being cast in a negative light overall thanks to the performance of Valeant Pharmaceuticals Intl inc.(TSE:VRX) (NYSE:VRX), which is unfortunately the price context into which Canadian healthcare companies seem to be framed.

It certainly doesn’t help when passive-agressive statements from Bill Ackman of Pershing Square serve to distance the company’s once-largest backer from it, but such is the character and integrity of Ackman. Instead of admitting errors in the timing of trading in his fund and his misuse of his position as investor and not company spokesperson, he chooses to bad-mouth the company and its CEO, J Michael Pearson. That’s the kind of fund manager he is though. Buyer beware.

Leucrotta Exploration Shares Boosted by Increased Montney Position

As for Leucrotta Exploration Inc., the improved performance of oil today and the timing of a news release announcing its increased land position in the Liquids-Rich Montney formation converged to drive the company’s share price higher in mid-day trading, with its market cap increasing by 6.82 percent today to $0.94 a share on volume of over 720,000 shares traded.

Leucrotta said it had “increased its Montney development drilling inventory to 160 gross (128 net) drilling locations from the previously disclosed 78 gross (70 net) drilling locations in the highly prolific Lower Montney Turbidite play. The acquired lands are adjacent to the previously announced 13-19 well that tested at a rate of 1,290 boepd. Leucrotta also placed a Lower Montney development well at Doe on-stream in December with an IP30 of 890 boepd and production of 780 boepd at the end of the 30 day period.”

Sirona Biochem Corp Down 10 Percent

Also trading strongly today is Sirona Biochem Inc. who’s shares were down over 10 percent on volume of 2.4 million shares traded to $0.20 at 2:45 E.T. on Thursday, also part of the general aversion to Canadian Healthcare stocks that grips markets today.

Sirona Biochem is the developer or specialized glycoproteins with anti-aging properties that are incorporated into products targeting the $350 billion cosmetic anti-aging market.

Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants.

James West

James West

Editor and Publisher

James West founded Midas Letter in 2008 and has since been covering the best of Canadian and US small cap companies. He covers global economics, monetary policy, geopolitical evolution, political corruption, commodities, cannabis and cryptocurrencies. As an active market participant, James is not a journalist and is invariably discussing markets...
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