Connect to share and comment
TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (13,114.39 down 19.03 points):
Mercator Minerals Ltd. (TSX:ML). Miner. Up 4.5 cents, or 100 per cent, at nine cents on 32.11 million shares. Intergeo MMC Ltd., a mining company controlled by Russian billionaire Mikhail Prokhorov's Onexium Group, will acquire Mercator. Financial terms were not disclosed but the move is seen as a way for the Russian company to gain a listing in Canada.
Bombardier Inc. (TSX:BBD.B). Plane and train maker. Down two cents, or 0.44 per cent, at $4.48 on 14.74 million shares. American Airlines, which recently merged with US Airways, awarded about one-third of its big new order of regional jets to Bombardier in a deal valued at about US$1.42 billion at list prices. However, Brazilian rival Embraer won the rest of the orders.
Southern Pacific Resource Corp. (TSX:STP). Oil and gas. Up two cents, or 16.67 per cent, at 14 cents on 10.34 million shares. The Calgary-based company announced Wednesday that it will undergo a review of strategic alternatives, which may include to sale, merger or other business combination.
Cangene Corp. (TSX:CNJ). Drug developer. Up 72 cents, or 26.67 per cent, at $3.42 on 7.86 million shares. The biopharmaceutical company said after the close Wednesday that it has agreed to be acquired by Maryland-based Emergent BioSolutions (NYSE:EBS) in an all-cash deal that values the company at US$222 million. Emergent has offered the equivalent of C$3.44 per share.
Iamgold Corp. (TSX:IMG). Miner. Down 44 cents, or 10.81 per cent, at $3.63 on 7.29 million shares. The company announced after the close Wednesday that it was suspending its dividend until further notice in order to preserve cash amid falling gold prices.
Toronto Venture Exchange (886.09 down 10.94 points):
Madalena Energy Inc. (TSXV:MVN). Oil and gas. Unchanged at 59 cents on 8.20 million shares.
Helio Resources Corp. (TSXV:HRC). Gold exploration. Down a penny, or 16.67 per cent, at five cents on 4.42 million shares.
Companies reporting major news:
Cenovus Energy Inc. (TSX:CVE). Oil and gas. Down 33 cents, or 1.09 per cent, at $29.87 on 2.46 million shares. The Calgary-based company expects to spend between $2.8 billion and $3.1 billion in 2014, a 13 per cent decrease over this year. Oil production is expected to average between 190,000 and 208,000 barrels per day, a 10 per cent increase from its 2013 forecast.
Empire Company Ltd. (TSX:EMP.A). Grocer. Down $1.01, or 1.36 per cent, at $72.99 on 260,765 shares. The Nova Scotia-based company posted higher second-quarter profit of $169.2 million from $91.9 million a year ago, helped by cost containment. Sales rose two per cent to $4.42 billion despite competitive retail challenges.
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.