TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (13,687.66 up 105.37 points):
Bombardier Inc. (TSX:BBD.B). Aerospace. Up 11 cents, or 2.82 per cent, to $4.01 on 15.8 million shares.
Air Canada (TSX:AC.B). Airline. Down $1.07, or 12.30 per cent, to $7.63 on 12.3 million shares. The airline’s stock, and those of other carriers, took a big hit after Merrill Lynch analyst Glenn Engel cut price and profit targets because of what he says will be severe headwinds because of the sharply lower Canadian dollar. He said the pressure will come in the form of higher prices for fuel and new aircraft.
Tuscany International Drilling Inc. (TSX:TID). Oil and gas. Down 0.5 cents, or 16.67 per cent, to 2.5 cents on 6.4 million shares.
Fortis Inc. (TSX:FTS.IR). Utilities. Down 25 cents, or 0.82 per cent, to $30.20 on 6.3 million shares.
Baja Mining Corp. (TSX:BAJ). Miner. Up one cent, or 16.67 per cent, to seven cents on 5.6 million shares.
Dalradian Resources Inc. (TSX:DNA). Miner. Down two cents, or 2.90 per cent, to 67 cents on 4.3 million shares.
Toronto Venture Exchange (958.63 up 6.88 points):
Primary Petroleum Corporation. (TSXV:PIE). Oil and gas. Up 8.5 cents, or 35.42 per cent, to 32.5 cents on 5.6 million shares.
Red Pine Exploration Inc. (TSXV:RPX). Miner. Down two cents, or 19.05 per cent, to 8.5 cents on 3.6 million shares.
Companies reporting major news:
Bank of Montreal (TSX:BMO). Bank. Up eight cents, or 0.11 per cent, to $70.54 on 2.26 million shares. The bank is making plans to double its wealth management business with the $1.3-billion acquisition of U.K.-based F&C Asset Management. The deal, which requires shareholder and other approvals, is expected to close after May 1.
First Quantum Minerals Ltd. (TSX:FM). Miner. Up 52 cents, or 2.62 per cent, to $20.36 on 3.7 million shares. The mining company said Tuesday its Cobre Panama project will cost more and take longer to build, but produce more copper annually than under a previous plan. The company said it now expects the copper mine to cost about US$6.4 billion and produce its first concentrate in the fourth quarter of 2017.
Metro Inc. (TSX:MRU). Grocer. Up $2.76, or 4.42 per cent, to $65.25 on 609,021 shares. The supermarket operator raised its dividend 20 per cent Tuesday as its first-quarter profits slipped compared with a year ago amid what it called a challenging marketplace. CEO Eric La Fleche told the company’s annual meeting that “2014 promises to be challenging, but we are confident of achieving our objectives.”
Cogeco Inc. (TSX:CGO). Cable TV, media. Down eight cents, or 0.17 per cent, to $48 on 4,388 shares. The head of the cable and media company has come out against the Quebec government’s proposed charter of values. Cogeco chief executive Louis Audet says the proposed charter, which would restrict the wearing of religious symbols by government employees, would end up harming the province’s economy.
BlackBerry Ltd. (TSX:BB). Communications equipment. Up 34 cents, or 3.14 per cent, to $11.18 on 3.1 million shares. The Waterloo, Ont.,-based company has launched a new feature that it can boast even the latest iPhones don’t have: FM radio. A new version of the BlackBerry 10 operating system, which the company says includes hundreds of enhancements and new features, started being rolled out Tuesday in Canada.