Investor Alert

Dec. 6, 2011, 11:21 a.m. EST

Canada hot stocks: Quadra, BMO, Capstone

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Among the companies whose shares are making notable moves in Tuesday's session are Quadra FNX Mining Ltd. QUX.T, Bank Of Montreal BMO, Capstone Infrastructure Corp. CSE.T, Major Drilling Group International Inc. MDI.T and 5N Plus Inc. VNP.T.

Quadra FNX (C$15.39, C$4.04, 36%) said it has agreed to a friendly C$3.5 billion takeover offer from a Polish copper and silver producer. Poland's KGHM (KGH.WA) is offering C$15 a share in cash.

Bank Of Montreal's (C$57.47, -C$2.37, -4.0%) fourth-quarter adjusted earnings came in at C$1.27 a share, below the Thomson Reuters mean estimate of C$1.31 on higher loan-loss provisions and expenses.

Capstone Infrastructure (C$3.91, -C$1.69, -30%) lowered its 2012 adjusted EBITDA view and said it will re-evaluate its dividend policy next year. It said it's unlikely it will maintain its current dividend policy through 2014 as previously expected.

Major Drilling (C$15.26, C$0.96, 6.7%) said second-quarter earnings jumped to 42 Canadian cents a share from 16 Canadian cents a year earlier. It also posted the highest quarterly revenue in its history at C$214 million, up 67% from a year earlier.

5N Plus (C$6.17, -C$0.65, -9.5%) said results for the four months ended Sept. 30 and first quarter of stub year 2011 all reached record levels, but said it's monitoring recent developments in Europe and expects some softening in demand in the coming months "which may be compounded by the usual year-end seasonality."

Among the companies whose shares are making notable moves in Tuesday's session are European Goldfields Ltd. , Precision Drilling Corp. /zigman2/quotes/206042311/composite PDS -0.73% , Canfor Corp. and Canadian Western Bank .

European Goldfields (C$12.01, C$2.05, 21%) said it has received preliminary expressions of interest from third parties, though no formal offers have been received. It said it doesn't plan to comment further until a definitive deal is reached.

Precision Drilling (C$11.35, -C$0.39, -3.3%) said it will take a fourth-quarter pretax charge of C$100-C$120 million on rig decommissioning. It also set a 2012 capex budget of C$1.14 billion. UBS downgraded the stock to neutral, citing the much higher spending levels.

Canfor (C$10.12, -C$0.31, -3.0%) said it will close its Rustad and Tackama mills in British Columbia "after a lengthy indefinite shut that followed the collapse of the United States residential housing market in 2008."

Canadian Western Bank (C$27.17, -C$1.30, -4.6%) said fourth-quarter earnings rose 15% and the bank boosted its quarterly dividend 7%. TD, however, nudged down the bank's price target after lowering estimates on concern that margin pressures could increase.

$ 80.69
-0.59 -0.73%
Volume: 15,430
Nov. 25, 2022 3:30p
P/E Ratio
Dividend Yield
Market Cap
$1.09 billion
Rev. per Employee

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