Short Interest Ratio Indicates Bullish Canadian Stocks: $WDO $TXP $FFH

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Wesdome Produced 25,142 Gold Ounces In Q2 2020

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Wesdome Gold Mines Ltd (TSX:WDO) has a short interest ratio of 1.7 which means investors think the price is to increase in the near-term. This means the sentiments are bullish on the stock. The company has announced its gold production results for Q2 2020. In the quarter the company produced 25,142 gold ounces bringing its 1H gold production to 50, 264 ounces. The company's CEO and President Duncan Middlemiss said that they are optimistic they will achieve this year's full-year production guidance of between 90,000 and 100,000 ounces.

Due to COVID-19 and distancing measures the company reduced its operating capacity at the Eagle River Camp mine with the focus being production and development while they stopped diamond drilling.

Touchstone Exploration Releases Independent Evaluation Highlights Of Cascadura Well

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There is also a bullish sentiment on Touchstone Exploration Inc. (TSX:TXP) stock whose short interest ratio of 1.09 implies that investors are optimistic the price will rise in the near-term. Recently the company announced results if the independent reserve evaluation at the Cascadura well. Paul Baay, the CEO of the company said that the independent evaluator gave the potential value and size of the reserve. He said that they expect by Q2 2021 to have developed developmental wells into the pool and they expect around 2,500 barrels per day of liquids.

The Cascadura Assessment area in Trinidad has estimated reserves of 381 billion cubic feet of natural gas. Touchstone owns 80% working interest in the project while Heritage petroleum holds 20%.

Fairfax Financial Reports Profit Of $434.9 million

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Another stock that is also looking bullish is Fairfax Financial Holdings Ltd (TSX:FFH) whose short-interest ratio is 1.10 implying that investors think the price is set to increase in the near-term. The company released its Q2 2020 financial results in which it reported a profit of $434.9 million or $15.26 per share compared to $494.3 million or $17.18 per share in Q2 2019. For the quarter the financial holdings company reported revenue of $5.07 billion.

During the company's Fairfax Africa signed a merge deal with Helios Holdings limited which will see Helios acquiring 45.9% equity and voting interest in Fairfax Africa. The transaction will be closed in Q3 202 for subject to customary closing conditions.

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