Oreninc Index Increases Slightly for Second Straight Week

The Oreninc Index continued to creep up slightly for the week ending April 3, 2014. While not showing any significant gains, the increase in performance is a positive development. Dollars announced increased to $60.7m, a three-week high. Eight brokered deals were announced for $30.2m, and three bought deals were announced for $23.2m, both three-week highs. Although the Index improved for the second straight week, the five-week moving average fell to its lowest mark in six weeks; it may stay at this level for the foreseeable future as the big dollar financings start to melt away. 

Oreninc Index Rises Slightly 

The Oreninc Index rose slightly for the week ending March 27, 2014. This week, although better than last week in every measurable way, is still lagging behind where we have been in recent months. Total dollars announced rose to $55.7m, a two-week high. Brokered and bought deals also increased, both with one deal announced for $8m, two-week highs. After last week’s YTD low, any increase, even a small one, is a welcome sight. It will be interesting to see if the Index can sustain this level of financing activity as we head into April.

Oreninc Index Crashes to Three-Month Low

The Oreninc Index fell dramatically for the week ending March 20, 2014. Total dollars announced dropped all the way to $21.5m, a YTD low. Brokered and bought dollars announced also fell, both to ten-week lows of $4m. This is the worst single week drop in performance this year. While dramatic in the size of the fall, this week’s crash isn’t particularly surprising given the distance we now have from the PDAC and the fundraising bonanza that typically surrounds the weeks bracketing it. Expect the Index to remain stagnant as companies start settling down for the spring.

Oreninc Index Falls Marginally, Remains Strong

The Oreninc Index fell slightly, but remained strong for the week ending March 13, 2014. Total dollars announced fell to $205m, a two-week low. Brokered dollars announced fell to $161m, also a two-week low. This week stands out due to the sheer number of deals announced (47), as well as the amount of brokered deals announced (18), the latter a 68-week high. While still possibly a product of a post-PDAC fundraising binge, this type of activity in what has been a stagnant financing season is encouraging news. It will be interesting to see if this continues as we head deeper into Spring and farther away from what is historically the most active period of the financing season.

Oreninc Index Strong During PDAC Week

The Oreninc Index showed strength for the week ending March 6, 2014. Total dollars announced rose to $298.9m, its highest level in almost two years. Brokered and bought dollars announced also had stellar weeks, announcing $248.9m and $213.6m respectively. This was a standout week. In addition to one large deal, some impressive mid-range financings increased the weekly state of the market, a rarity in the last year. While this week’s performance is likely due to companies wanting to announce their deals during the week of the PDAC, the fact that management feels they can raise this much cash gives us some optimism as we head into Spring.

Oreninc Index Remains Steady

The Oreninc Index increased slightly for the week ending February 27, 2014. Total dollars announced rose to $176.7m, a two-week high. Seven brokered deals were announced for $89.3m, one of them bought for $70.2m. Average deal size dropped to $4.2m, a two-week low. Deals announced rose to 42, a nine-week high. The increase in number of deals is likely due to the approach of the PDAC International Convention. Though it was only a small increase, seeing the Index improve is a positive step in the right direction. 

Oreninc Index Jumps

The Oreninc Index jumped back up for the week ending February 20, 2014. Total dollars announced rose to $218.9m, a three-week high. Brokered deals announced also increased to $45m off of four deals, two of them were bought for a combined $30m, both three-week highs. Though these are optimistic numbers, the amount of brokered activity relative to the total amount announced remained low, which held it back from being a stand-out week. Don't be surprised if this relative health lingers as we head into March and the PDAC International Convention.

Oreninc Index Falls

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The Oreninc Index fell for the week ending February 13, 2014. Total dollars announced fell to $27m on 19 deals, a five-week low. Brokered and bought dollars were both down, with one deal at $10.8m announced, also a five-week low. After three strong weeks beginning in mid-January, the Oreninc Index fell last week to modest levels and continued to fall even further this week. While this drop in performance is disappointing after a string of encouraging weeks, there is still room for optimism as we approach the PDAC.

Oreninc Index Crashes with Only Six Deals Announced

The Oreninc Index crashed for the week ending January 9, 2014. The reason for the fall was the lack of announced deals, which fell all the way to six, a multi-year low. Total dollars announced and average deal size both increased to $31.6m and $5.2m, respectively. With average deal size remaining strong, total dollars announced actually increasing, and a $150m dollar announcement that does not count towards the Index taking place, it is not all doom and gloom despite this week’s poor statistical performance. Even if we are still mildly cautious after a lackluster three weeks, expect a jump next week as we head into conference season.

Oreninc Index Falls Over Holiday-Shortened Weeks

The Oreninc Index dropped for the two holiday-shortened weeks ending January 2, 2014. Total dollars and average deal size stumbled lower than any level previously in 2013, and there were no brokered or bought deals in either week. While obviously not an encouraging sign, the fact that these two weeks included three non-trading days explains the poor performance for the most part. Expect this valley to rise at least a little as we head into 2014.