Short Interest Ratio Indicates Bullish Canadian Stocks: $WEF $BSX $TOG

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Western Forest Donates $100,000 To Food Banks In Vancouver

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There is a bullish sentiment on Western Forest Products Inc. (TSX:WEF) stock. The stock has a short interest ratio of 2.17 which implies that investors are optimistic the price will increase in the near-term. The company is donating $100,000 to around 13 different food banks across Powell River and Vancouver. Among the groups, the received funding includes Harvest Food Bank, Campbell River Food Bank, Powell River Food Bank which received $15,000, $10,000, and $5,000 respectively, and also the Gold River Food Bank.

In its Q2 2020 results, Western Forest reported adjusted earnings of $29.5 million. Despite the impact of the pandemic on businesses the company remained operational and continued servicing consumers. Net income was $8.5 million or $0.02 per diluted share compared to a net loss of $21.0 million or $0.06 per share in Q1 2020.

Belo Sun Mining Release Results Of Election Of Directors

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Belo Sun Mining Corp (TSX:BSX) is also another stock that is bullish and has a short interest ratio of 3.49. This means investors think the price is to increase in the near-term. The company has announced its Annual Shareholder Meeting results of the election of company directors. The Annual General Meeting approved Belo Sun's amended stock option plan as well as appointment of auditors. Around 67.23 of the company's outstanding and issued shareholders were represented.

Rui Botica Santos was appointed as a new director and will bring massive experience as a lawyer in the mining sector for more than 25 years. Besides Santos other directors elected include Mark Eaton, Peter Nixon, Peter Tagliamonte, and Carol Fries.

TORC Oil and Gas Report Q2 and 1H 2020 Results

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With a short interest ratio of 2.02 for TORC Oil and Gas Ltd (TSX:TOG) stock, it means investors expect the price of the stock to rise in the near-term. Therefore it shows a bullish sentiment on the stock. The company has announced financial results for the first half of 2020 and the quarter ended June 30, 2020. Q2 2020 net income was $41,023 or $0.18 per basic share and for the six months, net income was $920,918 0r $4.15 per basic share. Due to the shutdown because of the pandemic, the company's production in Q2 was 24,905 boepd. TORC spent around $1.6 million in exploration and development in Q2 taking overall spend in the first half of 2020 to 66 million. The company expects that its revised 2020 capital budget of $80 million will result in the production of 25,000 boedp at the end of 2020.

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