FINWIRES · TerminalLIVE
FINWIRES

TSX at a Record High, Up 340 Points at Midday

By

The Toronto Stock Exchange is at a record high at midday, gaining 340 points, as hopes rise that a deal to end the U.S.-Iran was could be near, and oil prices fall.

The best performers are the materials and technology sectors, both up 2.2%. Energy is also higher, up 0.9%.

Telecoms, down 0.03%, is the sole decliner.

On the economics front, Statistics Canada said on Monday that the advance results for April indicate wholesale sales, excluding oil, oil products, and other hydrocarbons and excluding oilseed and grain, edged up 0.1% month over month. The increase partly reflects higher sales in the building material and supplies subsector, noted the country's statistical agency.

Related Articles

Mining & Metals

CIBC Confirms Outperformer Rating and Target of US$480 on Celestica Post Technology & Innovation Conference Message

CIBC Capital Markets maintained its outperformer rating and price target of US$480 on the shares of Celestica (CLS.TO, CLS) after the company's appearance at the bank's Technology & Innovation Conference.The bank said the company's message sharpened its conviction that 2026 and 2027 guidance likely remains "too low"."Celestica CFO Mandeep Chawla pointed to stronger demand and upside across CCS, spanning communications switching and enterprise servers, while noting capacity planning for key hyperscaler and digital-native customers now extends through 2029," said analyst Todd Coupland. "The only meaningful constraint is supply, with some component lead times stretching to 99 weeks-an intensity that exceeds what was seen during the pandemic."It noted demand is tracking ahead of company guidance and Street expectations, even if supply constraints create some near-term quarterly volatility. The bank continues to recommend buying Celestica, as it sees a "compelling setup of upward estimate revisions, improving visibility, and attractive risk/reward."CIBC's US$480 PT on the company is based on a blended valuation of 32x its 2027 EPS estimate and 24x its 2027 EBITDA estimate."This valuation premium is justified, in our view, by improving visibility into sustained AI data center spending, a rising probability of upward revisions, and Celestica's increasingly strategic role in next-generation networking and server infrastructure," said Coupland.Price: $519.10, Change: $+11.11, Percent Change: +2.19%

$CLS.TO
Mining & Metals

TNR Gold Closes a $4.2 Million Private Placement to Altius Resources

TNR Gold (TNR.V) on Monday said it closed a $4.2 million private placement of shares to Altius Resources (ALS.TO).TNR issued 23.5-million shares to Altius and granted it a right of first offer on the sale of TNR's 1.35% net smelter return royalty on the Mariana Lithium Project and 0.36% NSR on the Los Azules Copper Project, both in Argentina. Altius also has the right to participate in future private placements to maintain its pro rata ownership stake in TNR.Proceeds will be used for working capital purposes, including exploration on TNR's Shotgun Gold Project in Alaska, a statement said."Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders," said executive chair Kirill Klip.TNR shares were last seen down $0.005 to $0.25 on the TSX Venture Exchange.Price: $0.25, Change: $-0.01, Percent Change: -1.96%

$ALS.TO$TNR.V
Mining & Metals

Epic Gold to Consolidate Its Shares

Epic Gold's (EPG.CN) on Monday said it will consolidate its shares on a one for five basis.Following consolidation and subject to rounding, the company will have around issued and outstanding 42.94-million shares, down from 214.7 million."The board of directors believe that the share consolidation will provide the company with increased flexibility to seek financing opportunities and strategic acquisitions," added the company.Shares of the company were last seen unchanged at $0.05 on the Canadian Securities Exchange.

$EPG.CN