Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, June 29, 2012

Article Excerpt

MART RESOURCES, $1.36, symbol MMT on Toronto, jumped over 28% this week after the company declared a special dividend of $0.10 a share, payable on August 8, 2012. Mart will then begin paying quarterly dividends of $0.05 a share starting in September 2012. The stock is now up 288.6% since we first recommended it in our May 2010 issue at $0.35. Mart is focused on developing, producing and drilling for oil at its properties in Africa. The company is currently producing oil at its 50%-held Umusadege field in Nigeria. In the three months ended March 31, 2012, Mart’s revenue jumped 129.6%, to $62.0 million from $27.0 million a year earlier. Cash flow was $55.0 million, or $0.16 a share, up sharply from $23.9 million, or $0.07 a share. Higher production and oil prices were the main reasons for the gains. Mart’s production jumped 89.6%, to an average of 631,202 barrels a day from 332,890 barrels. The company holds cash of $38.7 million and has…