Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Triangle Petroleum (NYSEMKT:TPLM) jumped 10% today after the company released earnings.
So what: Revenue rose 17% in the quarter to $34.3 million, above the $31.5 million estimate. On the bottom line, the company went from a $3 million loss a year ago to a $5.2 million profit, or $0.10 per share, double what Wall Street estimated.
Now what: Momentum is picking up and quarterly sales volumes were up 284% in the quarter. Management expects drilling costs to decline going forward, and there will be a benefit from gas sales that started in June. There's a lot of risk in small miners but I think the operational momentum and the new profit can push shares higher.
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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.