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Aurora Shares Jump on Promising Q4 2019 Results

Stockhouse Editorial
0 Comments| August 6, 2019

After providing healthy fiscal Q4 2019 results, Aurora Cannabis Inc. (TSX: ACBNYSE: ACBForum) saw a nice bump in its share price on Tuesday.

ACB stock opened at nearly $9 (CAD) and rose upwards of 13% to an intraday high of $9.51 on the Toronto Stock Exchange. Its stock fell back to $8.78, up 5% (39 cents) from Friday’s close.

The cannabis producer estimated its Q4 production available for sale was between 25,000 and 30,000 kgs — above the company’s previous guidance of 25,000 kg. The company also estimated revenue from all its sources will rise between $100 million and $107 million. However, this is below the average analyst forecast, which had estimated $114 million in Q4.

Aurora didn’t offer estimates on Q4 kgs sold, average price per gram or earnings. Full Q4 2019 and financial year-end results are expected to be issued before September 15th, 2019.

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