May 5, 2017 / 2:23 PM / in 6 months

BUZZ-Bonavista Energy Corp: First profit beat in 4 quarters

** Oil and gas producer’s shares rise as much as 12 pct to $2.90

** Company reported better-than-expected quarterly profit on Thursday, helped by a fall in costs

** First time BNP’s profit has topped estimates in 4 quarters

** RBC raises rating on company’s shares to “outperform” from “sector perform”

** 9 of 14 brokerages rate the stock “buy”, with the remaining rating it “hold”

** Up to Thursday’s close, stock had lost nearly half its value so far this year

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