11 Canadian Stocks Hit 52-Week Highs on Friday at Toronto Stock Exchange

TORONTO, CANADA – Even as the S&P/TSX Composite Index was down by 14.30 points at the close on Friday, 11 stocks trading at the Toronto Stock Exchange (TSX) posted their new 52-week highs, led by International Road Dynamics Inc. (TSX:IRD), which gained 15.62 percent to hit its 52-week high of 1.11 a share.

International Road Dynamics (TSX:IRD)’s stock soared to its 12-month high after the company announced continued strong growth in the three and nine months ended August 31, 2015.

Revenue was up 52 percent on growth in key geographic markets and products segments in Q3, while gross margin continues to increase, up 29 percent in the same quarter. Year-to-date revenue rose 24 percent, generating 21 percent increase in gross margin.

EBITDA was up 89 percent for Q3 and 45 percent year to date. Net earnings for Q3 tripled to CAN1.5 million or CAN0.10 per share.

“With significant gains in revenues and profitability across all of our key business lines and geographic segments, we generated stellar results and achieved the highest single quarterly earnings in the Company’s history,” commented Terry Bergan, President and CEO.

Other stocks that hit their 52-week highs on Friday were iShares FactorSelect MSCI USA IndexETF (TSX:XFA), which gained 5 percent to trade at 21.00 a share. Lassonde Industries Inc (TSX:LAS A), gained 0.57 percent to hit its 52-week high of 158.00 a share.

Rogers Communications Inc (TSX:RCI.B) gained 0.76 percent to trade at 47.83 at the close, its 52-week high. TMAC Resources Inc (TSX:TMR)’s stock rose 5.44 percent to hit a high of 6.20 a share.

Just Energy Group Inc (TSX:JE) posted its new 52-week high of 9.01 on Friday after its stock gained 2.39 percent. Acasta Enterprises Inc. Class A (TSX:AEF.A)’s stock gained 1.54 percent to trade at 9.90 a share.

BMO International Dividend Hedge (TSX:ZDH) also posted a fresh 52-week high on Friday when its stock rose 0.68 percent to end the day at 20.65 a share.

First Asset Canadian REIT ETF (TSX:RIT) rose 0.36 percent to trade 13.87 while Cardinaly Energy Ltd (TSX:CJR)’s stock saw a fresh 52-week high of 11.06 when it gained 0.36 percent.

Moneta Porcupine Mines Inc (TSX:ME) also posted a new 52-week high of 0.11 after gaining 4.76 percent on Friday’s close. – BusinessNewsAsia.com

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