TORONTO – Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,140.33 up 28.70 points):
Research In Motion (TSX:RIM). Wireless technology. Up 30 cents, or 2.80 per cent, at $11 on 8,370,816 shares. The stock closed higher despite news that Nokia Corp. asked courts in several countries to uphold an arbitrator’s ruling that could prevent RIM from using certain patented technology, unless it pays royalties to the Finnish cellphone maker.
Poseidon Concepts Corp. (TSX:PSN). Fluid handler. Down $1.22, or 23.11 per cent, at $4.06 on 5,957,322 shares.
Talisman Energy Inc. (TSX:TLM). Oil and gas. Down six cents, or 0.52 per cent, at $11.42 on 5,630,969 shares.
B2Gold Corp. (TSX:BTO). Miner. Down six cents, or 1.67 per cent, at $3.54 on 4,282,518 shares.
Kinross Gold Corp. (TSX:K). Miner. Up eight cents, or 0.79 per cent, at $10.27 on 3,920,341 shares. The gold sector was up 0.48 point to 312.24 points on the main index.
Spartan Oil Corp. (TSX:STO). Oil and gas. Down three cents, or 0.66 per cent, at $4.52 on 3,544,761 shares.
TSX Venture Exchange (1,205.37 down 0.80 point):
Pinecrest Energy Inc. (TSXV:PRY). Oil and gas. Down two cents, or 1.20 per cent, at $1.64 on 15,705,709 shares. The Calgary-based company booked third-quarter income of $4.6 million or two cents per share. That`s more than double its year-earlier profit of $1.7 million or a penny per share. Revenue jumped 60 per cent to $21 million. The company has agreed to merge with Spartan Oil Corp. (TSX:STO), subject to shareholders’ approval in January.
Oceanic Iron Ore Corp. (TSXV:FEO). Mineral explorer. Up half a cent, or 3.45 per cent, at 15 cents on 7,604,100 shares.
Companies reporting major news:
Celtic Exploration Ltd. (TSX:CLT). Oil and gas. Up three cents, or 0.12 per cent, at $26.03 on 1,711,301 shares. Imperial Oil (TSX:IMO) says it will invest $1.55 billion to acquire a half interest in the assets of Celtic. The Calgary-based oil and natural gas exploration and production company is currently in the process of being fully acquired by ExxonMobil Canada Ltd. in a transaction worth $3.1 billion. Shares in Imperial Oil were up 47 cents, or 1.11 per cent, at $42.98 on 665,148 shares.
CGI (TSX:GIB.A). Information technology. Down 93 cents, or 3.87 per cent, at $23.12 on 2,112,979 shares. The Montreal-based company posted a fourth-quarter net loss of under $170 million or 58 cents per diluted share, compared with a profit of $69.6 million or 26 cents per share in the year-earlier period. Revenue rose to $1.61 billion from just over $1 billion.
Inmet Mining Corp. (TSX:IMN). Miner. Up $9.20, or 17.42 per cent, at $62 on 2,444,736 shares. The Toronto-based miner rejected an unsolicited takeover offer from First Quantum (TSX:FM) worth $4.9 billion. Inmet says its board of directors has determined the offer is not in the best interest of its shareholders. The company also announced a shareholder rights plan, or so-called poison pill, a common tactic used to fend off hostile takeovers.