TORONTO – Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (11,929.79 down 204.87 points):
Bombardier Inc. (TSX:BBD.B). Transportation equipment. Down 11 cents, or 3.33 per cent, at $3.19 on 11,511,828 shares. Standard and Poor’s rating agency downgraded the plane and train maker’s long-term corporate rating one notch after to weak third-quarter results. However, Moody’s restored Bombardier’s liquidity rating to SGL-2, indicating good liquidity, Wednesday after downgrading it last week.
Manulife Financial Corp. (TSX:MFC). Insurer. Down 19 cents, or 1.56 per cent, at $11.96 on 6,671,512 shares. The financials sector dropped 1.26 per cent to 179.39 points.
Kinross Gold Corp. (TSX:K). Miner. Down 44 cents, or 4.40 per cent, at $9.57 on 5,431,902 shares.
B2Gold Corp. (TSX:BTO). Miner. Down 19 cents, or 4.92 per cent, at $3.67 on 4,685,760 shares. The Vancouver-based miner booked adjusted earnings of $19.6 million or five cents per share compared with $18.3 million or five cents per share in the same 2011 period. Gold revenue jumped to a record $67.1 million as ounces sold increased despite lower average price.
Yamana Gold Inc. (TSX:YRI). Miner. Down 71 cents, or 3.62 per cent, at $18.90 on 4,658,407 shares. The gold sector was the largest decliner, dropping 3.97 per cent to 313.49 points.
Air Canada (TSX:AC.B). Airline. Up three cents, or 1.65 per cent, at $1.85 on 4,618,945 shares. ACE Aviation Holdings Inc. (TSXV:ACE.H) sold 31 million Air Canada shares, 1.25 million warrants to purchase Air Canada shares at an exercise price of $1.51 and 1.25 million warrants with an exercise price of $1.44. AC is being dissolved now that its subsidiaries, including the airline, have been spun off or sold.
TSX Venture Exchange (1,258.69 down 28.20 points):
Petroamerica Oil Corp. (TSXV:PTA). Oil and gas explorer. Up four cents, or 17.39 per cent, at 27 cents on 5,402,000 shares. The Calgary-based company said Tuesday light oil was discovered at its La Casona-1 exploration well in Colombia.
Sagres Energy Inc. (TSXV:SGI). Oil and gas explorer. Unchanged at a penny on 4,731,000 shares.
Companies reporting major news:
Iamgold Corp. (TSX:IMG). Miner. Down $2.90, or 19.49 per cent, at $11.98 on 3,640,900 shares. Shares plunged as low as $11.93, or by nearly 20 per cent compared with yesterday’s close, after the gold miner missed analyst expectations in its third quarter. In its earnings report released after markets closed Tuesday, Iamgold cited lower gold sales and higher exploration expenses for a drop in revenue and adjusted profit in the third quarter.
Loblaw Companies Ltd. (TSX:L). Grocer. Up 29 cents, or 0.87 per cent, at $33.64 on 880,015 shares. The grocery, pharmacy and general merchandise retailer is boosting its dividend by nearly five per cent despite a drop in third-quarter results. Net income fell by 5.9 per cent to $222 million while overall revenue grew by one per cent to $9.8 billion.
Rona Inc. (TS:RON). Home improvement retailer. Up 54 cents, or 4.92 per cent, at $11.52 on 1,072,797 shares. The company’s second-largest institutional shareholder said it was seeking to sweep out the existing board and install new directors. The fund manager, which owns about one-tenth of Rona`s shares, issued the call for change after the chain reported dismal financial results last week and its long-time chief executive resigned.