TORONTO – Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,721.79 down 53.49 points):
Poseidon Concepts Corp. (TSX:PSN). Oil and gas services. Down 62 cents, or 69.66 per cent, at 27 cents on 15,567,787 shares. The Calgary-based company’s stock dropped to its lowest level after it said that it will restate its financial statements for the nine months ended Sept. 30 and announced that “any previous guidance with respect to the company’s business should not be relied upon.” Poseidon said that about $95 million to $106 million in the company’s $148.1 million revenue recorded in the January-September should not have been recorded.
BlackBerry (TSX:BB). Wireless technology. Up $1.05, or 7.50 per cent, at $15.05 on 11,111,805 shares.
Encana Corp. (TSX:ECA). Gas. Down $1.28, or 6.57 per cent, at $18.20 on 7,265,987 shares. The gas giant said its fourth-quarter loss narrowed to $80 million or 11 cents per share compared with year-earlier loss of $476 million or 65 cents per share. Revenue fell dramatically to $1.6 billion from $2.46 billion.
Kinross Gold Corp. (TSX:K). Miner. Up 43 cents, or 5.44 per cent, at $8.34 on 6,289,521 shares. The Toronto-based miner’s stock rose a day after reporting a multi-billion dollar net loss in the fourth-quarter, which included a $3.2-billion impairment charge on its mine in Africa. The loss totalled nearly $3 billion, deepening year-earlier loss of $2.79 billion while revenue climbed 29 per cent to $1.12 billion.
Manulife Financial Corp. (TSX:MFC). Insurer. Up 16 cents, or 1.05 per cent, at $15.37 on 5,334,998 shares.
Belo Sun Mining Corp. (TSX:BSX). Gold explorer. Down 16 cents, or 11.59 per cent, at $1.22 on 5,140,017 shares.
TSX Venture Exchange (1,196.56 down 7.72 points):
New Guinea Gold Corp. (TSXV:NGG). Miner. Unchanged at half a cent on 7,706,500 shares.
Orko Silver Corp. (TSXV:OK). Mining exploration. Down three cents, or 1.15 per cent, at $2.57 on 6,590,452 shares. Orko announced Wednesday that it received a “superior proposal” from giant silver miner Coeur d’Alene Mines. First Majestic (TSX:FR) proposed a friendly deal with the Vancouver miner in December. The miner fell 35 cents, or 1.93 per cent, at $17.82 on 603,099 shares.
Companies reporting major news:
Barrick Gold Corp. (TSX:ABX). Miner. Up 72 cents, or 2.27 per cent, at $32.44 on 4,397,457 shares. The giant gold miner booked a loss of US$3.06 billion in the fourth-quarter due to a US$4.2-billion after taxes writedown on its copper business unit. The loss reversed year-ago profit of $959 million while revenues jumped 11.3 per cent. For the year ahead, Barrick is cutting or delaying US$4 billion in previously budgeted capital spending.
Cenovus Energy (TSX:CVE). Oil. Down 81 cents, or 2.48 per cent, at $31.79 on 2,822,315 shares. Calgary-based Cenovus posted a fourth-quarter net loss of $189 million, reversing year-earlier profit of $332 million.
Molson Coors Brewing Co. (TSX:TPX.B). Brewer. Down 52 cents, or 1.17 per cent, at $44.08 on 12,227 shares. Fourth-quarter net profit totalled US$60 million or 33 cents per diluted share, with $1.48 billion of sales. The quarter included a number of special items, including $22.8 million for restructuring, a $6.5-million charge related for its portion of an IT writeoff at MillerCoors and other tax and investment items.