Investor Alert

May 16, 2012, 9:07 a.m. EDT

Canada Hot Stocks To Watch: Sears Canada, Centerra

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TORONTO (MarketWatch) -- Listed below are the stocks expected to move during Wednesday's trading session. They are listed with Tuesday's closing prices.

Sears Canada Inc. (SCC.T, C$13.15, C$0.40, 3.1%) said first-quarter revenue fell 7.8% and same-store sales dropped 6.3%. Its EBITDA loss widened to C$30.1 million from C$22.3 million a year earlier.

Pan American Silver Corp. (PAAS, C$15.22, -C$0.74, -4.6%) said first-quarter earnings fell 46% to $50.2 million or 47 cents a share, hit by expenses tied to the acquisition of a Mexican gold and slver operation. Excluding items, earnings fell to 58 cents from 61 cents. Revenue was up 20%.

Cominar REIT (CUF.UN.T, C$24.13, -C$0.10, -0.4%) said it has agreed to sell 6.33 million units at C$23.70 each to raise C$150 million.

Centerra Gold Inc. (CG.T, C$9.69, -C$0.05, -0.5%) swung to a first-quarter loss of 6 cents a share from a profit of 58 cents, hurt by unusual mining costs. Revenue fell 47% on much lower gold production and higher cash costs. The company declared an initial dividend of 4 Canadian cents a share.

Birchcliff Energy Ltd. (BIR.T, C$6.23, -C$0.07, -1.1%) said first-quarter earnings fell 61% and cash flow fell 19% despite a 19% improvement in production.

Inmet Mining Corp. (IMN.T, C$45.54, -C$0.89, -1.9%) said it has increased the size of its previously announced note offering to $1.5 billion from $1 billion. Proceeds will be used to fund the development of Cobre Panama copper project.

Ivanhoe Mines Ltd. (IVN, C$8.75, -C$0.44, -4.8%) posted a first-quarter loss of 11 cents a share, compared with a loss of 79 cents a year earlier. Revenue doubled to $40 million.

New Flyer Industries Inc. (NFI.T, C$7.13, -C$0.02, -0.3%) announced a public offering of $65 million of convertible debentures at $1,000 each. The debentures are convertible into common shares at $10 each.

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