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TSX Edges up 16 Points at Midday With Most Sectors Higher, Info Tech Falls

The Toronto Stock Exchange is up 15 points at midday with most sectors higher.The best performers are miners and healthcare, both up 2%, followed by energy, up 1.3%.Offsetting gains is info tech, which is down 3.9%. Shopify (SHOP.TO) which reported its first-quarter earnings this morning, is down 12.5% to $151.60, with 2.4 million shares being traded. The company's second-quarter profit outlook missed expectations as it projected operating expenses of between 35% and 36% of revenue.In other news, focus was on the release of Canadian trade data for March, which CIBC described as "surging and glittering". The bank noted a $1.8 billion goods trade surplus compared with a $5.1 billion deficit in the prior month and consensus expectations for a $2.5 billion shortfall. Total exports surged by 8.5%, driven almost exclusively by metals and energy. Excluding those two areas, exports were up by a much more modest 1.1%. Auto exports rebounded further from January's low (+4.5%) but remained roughly 20% down on a year-over-year basis. Adding in services trade, which was fairly balanced in March, Canada's total trade balance with the world moved from a deficit of $5.0 billion in February to a $1.7 billion surplus.CIBC said: "While a trade surplus in March was unexpected, it was mainly driven by price fluctuations rather than any signs that real economic activity was stronger than anticipated. Combined with signs last week that higher gasoline prices may already be having a negative impact on consumer spending, we continue to expect only modest GDP growth this year and little evidence that slack within the economy is being absorbed. That should see the Bank of Canada look through a near-term spike in headline inflation, keeping interest rates on hold this year."

S&P/TSX CompositeS&P/TSX Composite$SHOP.TO

Mining & Metals141d ago

CIBC Cuts First Quantum's Price Target to C$44 from C$46

CIBC Capital Markets maintained its neutral rating on the shares of First Quantum Minerals (FM.TO) while lowering its price target to C$44.00 from $46.00, reflecting the company's first-quarter results and 2026 outlook.Overall, CIBC's 2026 EBITDA estimate was cut to $2.57 billion from $3.48 billion, driven by additional costs, reduced gold production at the Guelb Moghrein mine in Mauritana, and slightly lower copper sales from the Cobre Panama mine.Largely offsetting this near-term impact was the increase to the company's net asset value per share estimate to $33.77 from $31.94, reflecting the decrease to the discount rate of Cobre Panama from 14% to 12% amid continued de-risking towards a potential restart with processing of broken ore inventory.CIBC increased the NAVPS multiple to 1.1x from 1.0x and the EV/EBITDA multiple to 10.0x from 9.0x, as it remains constructive on Cobre Panama moving towards a restart in the next 18 months..Price: $31.44, Change: $+0.40, Percent Change: +1.27%

$FM.TO

Mining & Metals141d ago

Sprott Declares Q1 Dividend of US$0.40 Per Share

Sprott (SII.TO, SII) declared a first-quarter dividend of US$0.40 pershare, payable on June 3 to shareholders of record at the close of business on May 19, it said Tuesday.The latest dividend is unchanged from the prior quarter.Price: $177.86, Change: $-0.14, Percent Change: -0.08%

$SII.TO

Mining & Metals141d ago

Stifel Canada Maintains Buy Rating, $45.00 Price Target on Jamieson Wellness in Q1 Preview

Stifel Canada is maintaining its buy rating and $45.00 price target on the shares of Jamieson Wellness (JWEL.TO) ahead of the company reporting its first-quarter results on May 7.Analyst Justin Keywood forecasts 11.5% organic growth, to $163 million, with potential upside from a high flu prevalence. Adj. EBITDA margin of 12.6% is also forecast. Keywood notes the first quarter is the lowest margin quarter as ordering patterns are more pronounced with greater scale for the second to fourth quarters.Jamieson offers pure-play exposure to the "Mega Health & Wellness" trend: it is the largest vitamin company in Canada with 3x market share vs. the next largest competitor. Young consumers are entering the VMS (vitamins, minerals and supplements) category early, where historically, demand has been correlated with age. All of this is contributing and setting up for a "confluence of positive tailwinds," he writes.Price: $33.74, Change: $+0.12, Percent Change: +0.36%

$JWEL.TO

Mining & Metals141d ago

RBC Maintains Imperial Oil's Underperform Rating, C$124 Price Target After Q1 Results

RBC Capital Markets reiterated its underperform rating on the shares of Imperial Oil (IMO.TO, IMO) and C$124 price target after the oil producer and refiner reported its first-quarter results.Imperial delivered mixed results in the first quarter amid cash flow per share that was 25% lower year over year due to higher cash taxes, analyst Greg Pardy wrote.The company's total production was also down 1% due to the outage at the TC Energy Fort McKay Mainline and unplanned coker downtime at Syncrude."Our constructive stance towards Imperial Oil reflects its long-life, low-decline upstream portfolio, cash flow diversification via its refining and chemical segments, strong balance sheet, free cash flow generation, commitment to shareholder returns and solid operating performance," Pardy said.Price: $179.56, Change: $+1.91, Percent Change: +1.08%

$IMO.TO

Mining & Metals141d ago

CIBC Confirms Outperformer Rating on RB Global and Raises Target to US$134 On Q1 Results

CIBC Capital Markets maintained its outperformer rating on RB Global (RBA.TO, RBA) and raised ts price target to US$134 from US$132 after the company reported its first-quarter financial results on Monday.The company delivered a "strong Q1, beating expectations and raising FY26 guidance, while continuing to execute well operationally and on its strategic M&A agenda," it noted. CIBC believes the company's "consistent execution across both segments underpins its ability to continue expanding market share, even amid inherent lumpiness in underlying market conditions.""While pockets of macro and geopolitical uncertainty remain, management's focus on growing market share, controlling costs, and allocating capital prudently, leaves us confident in the company's ability to drive earnings growth," said analyst Krista Friesen.The bank tweaked its model having actualized Q1 results and to account for management's commentary. It now forecasts 2026 EBITDA of US$1.51 billion from US$1.48 billion expected earlier and 2027 EBITDA of US$1.58 billion from US$1.57 billion expected earlier.Price: $145.67, Change: $+2.58, Percent Change: +1.80%

$RBA.TO

Mining & Metals142d ago

Copper Prices Ease on Middle East Uncertainty and China Data, RBC notes; Also Noting Related Earnings Here In Canada

Copper prices eased slightly to US$5.90 per pound over the past week as the market continues to digest conflicting signals between Middle East tensions and upbeat factory data in China, RBC Capital Markets noted in a note dated May 4.RBC noted the International Copper Study Group estimated a supply surplus of 276,000 tonnes in February, compared to a surplus of 34,000 tonnes in the previous month. But Chinese inventories have declined since then on what appears to be stronger demand.On the M&A front, RBC also noted, mining dealmaking is "heating up", hitting $21.6 billion in the first quarter, the strongest start to the year since 2023, as capital flows toward assets that secure reliable supply of critical minerals in stable jurisdictions (citing mining.com)."With metals prices remaining elevated, we expect consolidation to continue in the sector," RBC said.Meanwhile, RBC noted earnings season is well underway, with FM, CS, and HBM having reported last week. The bank said cost pressures were in focus with both FM and CS flagging potential for cash cost increases of roughly 10% from higher fuel prices. IVN, LUN, and NEXA report earnings on Wednesday after markets close, it added.Price: $31.49, Change: $+0.45, Percent Change: +1.45%

$CS.TO$FM.TO$HBM.TO$IVN.TO$LUN.TO

Mining & Metals142d ago

Update: Keyera's Purchase of Plains All American's Natural Gas Liquids Assets Challenged by the Competition Bureau

(Adds comments from Keyera in paragraphs five and six; updates shares.)Keyera (KEY.TO) faces official pushback on its $5.15-billion acquisition of Plains All American Pipeline's (PAA) Canadian natural gas liquids assets as the Competition Bureau on Tuesday said it filed an application with the Competition Tribunal challenging the deal.The bureau said in a release it believes "the proposed transaction is likely to harm competition in natural gas liquids processing and storage, particularly at Fort Saskatchewan, Alberta, Canada's primary hub for these services".The bureau said the referral to the Tribunal follows on an investigation that concluded the acquisition would eliminate a close competitor in the Fort Saskatchewan market and increase market concentration. It also said the merged company would have the "ability to increase prices, impose less favourable contract terms, reduce incentives to expand capacity, and further entrench control over critical infrastructure".When it first announced the acquisition in July of last year, Keyera said the purchase would add natural-gas liquids fractionation and processing facilities, as well as 23-million barrel of oil storage, 1,500 miles of pipelines and terminal infrastructure in Western Canada and Ontario.In a statement, Keyera said it received a filing from the Competition Bureau shortly before markets opened on Tuesday It said the bureau's challenge does not prevent it from closing the acquisition and disagreed with the claims."The Company disagrees with the Commissioner's assertions and characterization of the Transaction, and intends to respond to the application. As the Company has previously advised, the Transaction will strengthen competition across the basin and provide customers with improved access to key markets and greater flexibility in how their products are handled, transported and sold," it said.Keyera shares were last seen down $2.17 to $50.80 on the Toronto Stock Exchange.Price: $50.76, Change: $-2.21, Percent Change: -4.17%

$KEY.TO$PAA

Mining & Metals142d ago

EQB Gets Federal Govt Approval to Acquire Loblaw's PC Financial

EQB (EQB.TO) has received Federal approval to proceed with its acquisition of PC Financial from Loblaw Companies (L.TO), the company said on Tuesday.The approval follows a recommendation from the Office of the Superintendent of Financial Institutions (OSFI), and Competition Bureau clearance in March.EQB announced last December that it was acquiring PC Financial in a deal valued at $800 million, in cash and shares. Loblaw would take a minimum 17% equity stake in the company, and EQB would become the exclusive financial partner of the PC Optimum loyalty program.The acquisition will see EQB expand its total customer base to 3.3 million Canadians and add $5.8 billion in assets and $800 million in direct retail deposits. EQB said it will be able to offer everyday banking, lending, payments, and rewards through a single integrated ecosystem to the more than 18 million active PC Optimum loyalty members.The acquisition is expected to close in the summer.EQB shares were last seen up $0.98, to $122.24, on the Toronto Stock Exchange. Loblaw shares are up $0.58, to 62.56.Price: $122.37, Change: $+1.11, Percent Change: +0.92%

$EQB.TO$L.TO

Mining & Metals142d ago

Morocco Strategic Minerals Raises $7.5 Million Via Private Placement

Morocco Strategic Minerals (MCC.V) closed its previously announced non-brokered private placement, raising total proceeds of $7.5 million.The company issued 50.1-million units at $0.15 apiece, as part of the offering. Each unit consists of one common share and one half of one common share purchase warrant with each warrant entitling its holder to buy a share for $0.25 until May 4, 2028.Proceeds will be used to fund the acquisition and development of mining assets in Morocco, and for the company's general and corporate working capital needs. Insiders have participated in the private placement and were issued a total of 1.2-million units, for $186,500.Shares of the company were last seen unchanged at $0.175 on the TSX Venture Exchange.

$MCC.V

Mining & Metals142d ago

RBC Keeps Canadian Natural Resources' Outperform Rating, C$80 Price Target

RBC Capital Markets on Monday retained Canadian Natural Resources' (CNQ.TO) outperform rating and C$80 price target ahead of the release of the company's first-quarter results.RBC expects CNQ to book operating earnings of $0.83 per share, compared to the Street forecast of $1.04.RBC estimated CNQ's production at 1.6 million barrels of oil equivalent per day, in line with the Street forecast.RBC's capital expenditure estimate of $1.50 billion was also in line with the Street projection of $1.45 billion.CNQ is RBC's favorite senior producer and is part of RBC's Global Energy Best Ideas list.CNQ traded at $65.24 per share at last look Tuesday on the Toronto Stock Exchange.Price: $64.88, Change: $+0.13, Percent Change: +0.20%

$CNQ.TO

Mining & Metals142d ago

Keyera's Purchase of Plains All American's Natural Gas Liquids Assets Challenged by the Competition Bureau

Keyera (KEY.TO) faces official pushback on its $5.15-billion acquisition of Plains All American Pipeline's (PAA) Canadian natural gas liquids assets as the Competition Bureau on Tuesday said it filed an application with the Competition Tribunal challenging the deal.The bureau said in a release it believes "the proposed transaction is likely to harm competition in natural gas liquids processing and storage, particularly at Fort Saskatchewan, Alberta, Canada's primary hub for these services".The bureau said the referral to the Tribunal follows on an investigation that concluded the acquisition would eliminate a close competitor in the Fort Saskatchewan market and increase market concentration. It also said the merged company would have the "ability to increase prices, impose less favourable contract terms, reduce incentives to expand capacity, and further entrench control over critical infrastructure".When it first announced the acquisition in July of last year, Keyera said the purchase would add natural-gas liquids fractionation and processing facilities, as well as 23-million barrel of oil storage, 1,500 miles of pipelines and terminal infrastructure in Western Canada and Ontario.Keyera could not be immediately reached for comment.Keyera were last seen down $3.50 to $49.47 on the Toronto Stock Exchange.Price: $50.09, Change: $-2.88, Percent Change: -5.44%

$KEY.TO$PAA

Mining & Metals142d ago

BIGG Digital Assets Unit Partners With Talos to Power Institutional-Grade Trading Capabilities

BIGG Digital Assets (BIGG.V) announced the go-live of the Talos trading platform at Netcoins, a unit of the company, on Tuesday.The integration with Talos enables Netcoins to elevate its trading capabilities, expand its product offering, and deliver improved execution quality to its clients, it said."Access to institutional-grade execution, liquidity aggregation, and robust order management allows us to enhance execution quality while strengthening our compliance framework," said Netcoins Chief Operating Officer Kim Dwyer. "Just as importantly, it gives us the foundation to expand our product offering and serve a broader range of clients with more sophisticated trading needs."Shares of the company were last seen up 7.1% at $0.075 on the TSX Venture Exchange.

$BIGG.V

Mining & Metals142d ago

Bravo Mining Up 1.4% As Provides Latest Assays from Luanga Project in Brazil

Bravo Mining (BRVO.V) reported Tuesday assays from eight drill holes in the Central sector and newly tested Crescent zone at the Luanga palladium-platinum-rhodium-gold-nickel deposit in Brazil.Highlights include 70 meters at 1.9 grams per tonne platinum group metals and gold (PGM+Au) plus 0.28% nickel, including 20 m at 3.6 g/t PGM+Au plus 0.40% nickel, as well as 19 m at 3.2 g/t PGM+Au, and 8 m at 1.94% copper plus 0.6 g/t PGM+Au.The results continue to demonstrate potential to expand and upgrade Luanga's mineral resource, Bravo said, adding it has completed 400 drill holes to date, with results reported for 355 drill holes to date. Assays are pending for 37 holes."Infill drilling is consistently intercepting thicknesses and grades often comparable to, or exceeding results from, earlier drilling. Drill sections in this news release also demonstrate that grades continue to be consistent, with excellent continuity from hole to hole and section to section," said Luis Azevedo, Chairman and CEO. "We are also encouraged with positive results from the new Crescent Zone, a regional target outside Luanga's three main PGM sectors. The Crescent Zone was delineated through reinterpretation and relogging triggered by the completion of the 2025 geophysical surveys. We've also intercepted another encouraging copper occurrence (DDH26LU307) at the eastern end of the Crescent Zone that warrants further investigation."Shares in BRVO were up 1.4% in Canada at last look.Price: $3.55, Change: $+0.05, Percent Change: +1.43%

$BRVO.V

Mining & Metals142d ago

TSX Now Up Nearer 30 Pts, Having Been Up By More Than 110 Pts In Early Tuesday Trade; Follows 7 Losses In Last 8 Sessions

S&P/TSX CompositeS&P/TSX Composite$CXY

Mining & Metals142d ago

MDA Space Up 1.15% In US Premarket As Secures 41 Early Customer Contracts and Letters of Interest for MDA CHORUS Data

MDA Space (MDA.TO, MDA) has finalized nine early customer contracts for MDA CHORUS data, its next-generation Earth observation constellation expected to launch in late 2026, it said on Tuesday at the GEOINT Symposium.The company has also received 32 letters of interest from customers across Asia-Pacific, Latin America, Europe, North America and the Middle East, it added."Demand for Earth observation data and imagery is driving increased engagement with customers globally who are looking for dependable and near real-time access to detect activity, protect critical environments, and support national security priorities," said MDA Space Chief Executive Mike Greenley. "MDA CHORUS is ideally positioned to meet that demand."Designed to deliver EO data day or night and in all-weather conditions, MDA CHORUS will support "more frequent imaging opportunities, faster delivery of insights, and advanced applications such as near real-time exploitation and insights", the company said. "Once operational, the collaborative multi-sensor satellite constellation will provide one of the most extensive radar imaging capacity available on the market in one system, ranging from broad area coverage with a 700 km-wide swath to sub-metre very high-resolution spotlight images," it added.U.S.-listed shares of the company were last seen up 4.6% at US$32.35 in pre-market trading.

$MDA.TO

Mining & Metals142d ago

White Gold Launches Spinout of Subsidiary W2 Critical Minerals

White Gold (WGO.V) has launched a previously flagged spinout of subsidiary W2 Critical Minerals Corp., the company said Tuesday.The spinout is designed to unlock the value of White Gold's non-gold project portfolio by transferring its copper, molybdenum, tungsten and other critical mineral assets in Yukon into a standalone company."By creating this dedicated critical minerals company, we believe we are enhancing shareholder value and also advancing opportunities that are increasingly central to Canada's long-term economic and supply chain strategies," White Gold Chief Executive Officer David D'Onofrio said.Under terms, White Gold shareholders will receive one share of W2 for every five White Gold shares held. W2 intends to complete a private placement financing to raise up to C$5 million, with White Gold retaining a 19.9% stake.W2 shares will be listed on the TSX Venture Exchange. The spinout company's portfolio will include six properties representing about 15% of White Gold's current claims.White Gold will continue to advance its flagship White Gold project.Shares in WGO were down $0.06 or 3.3% to $1.71 yesterday.

$WGO.V

Mining & Metals142d ago

Flint Secures $319 Million in New Contracts, Renewals

Flint (FLNT.TO) has secured new contract awards and renewals that are estimated to generate $319 million of work, the company said on Tuesday.These awards are in addition to the $46.5 million of awards and renewals secured in the first two months of this year.Slightly over one-third (37%) of the newly secured work is expected to be executed in 2026, with the balance scheduled for 2027-2030."These awards extend our contracted backlog through 2030 and reflect the confidence our customers continue to place in FLINT's people and service delivery. The $365.5 million of awards and renewals secured in 2026, combined with all awards secured in 2025, strengthen our forward revenue visibility," said chief executive Barry Card.Flint shares closed down $0.01, to $1.68 on the Toronto Stock Exchange on Monday.

$FLNT.TO

Mining & Metals142d ago

Colliers Down 3% In US Premarket As It Posts Q1 Adjusted Earnings Miss, Leaves Outlook Unchanged

Colliers International Group (CIGI.TO, CIGI) was down 3% in US premarket trade at last look Tuesday after it reported a miss on its first quarter adjusted earnings, even though both the adjusted earnings and revenues were up on a year earlier, and said its outlook for 2026 remains unchanged, while including the impact of Ayesa Engineering.The company's first quarter adjusted EPS was US$0.91, compared to $0.87 per share in the corresponding year-ago quarter. The consensus estimates compiled by FactSet for Non GAAP EPS was $0.94 per share.First quarter revenues were $1.31 billion, up from $1.14 billion in the year-ago quarter. Net revenues for the first quarter were $1.15 billion, compared to $993.7 million in the year-ago quarter.The company said its outlook for 2026 remains unchanged and includes the impact of Ayesa Engineering, which is expected to close in late May, while it added the outlook drivers by segment are also unchanged."Colliers delivered a strong start to 2026, demonstrating the strength and durability of our diversified professional services and investment management platform," said Jay S. Hennick, Global Chairman and Chief Executive Officer."We executed to plan in a still uneven operating environment, with continued momentum in our resilient businesses and ongoing improvement in Commercial Real Estate transaction activity. Importantly, our results underscore the platform we've built -- a global business designed to perform through every stage of the economic cycle."During the quarter, we strengthened our leadership team to capitalize on expanding opportunities across Commercial Real Estate and Engineering. We enhanced our financial flexibility with $400 million of long-term debt financing and we extended our revolving credit facility -- positioning us to integrate the acquisition of Ayesa Engineering, which we expect will close later this quarter."Shares in CIGI eased 0.8% in Canada and the United States yesterday.

$CIGI.TO

Mining & Metals142d ago

Mineros Secures Environmental Certification for Porvenir Processing Plant, Tailings Storage Facility

Mineros SA (MSA.TO) has secured environmental certification from the Attorney General's Office in Nicaragua for the processing plant and tailings storage facility at the Porvenir operation, the company said Tuesday.The company is currently focused on advancing other permits, including specific forest management and treated wastewater discharge authorizations, to commence construction.Mineros expects to complete submission of forest management authorization documentation by the end of the second quarter, with approvals anticipated by the end of the fourth quarter.Mineros is also evaluating accelerating the project timeline, including potentially commencing detailed engineering, following the "robust" results of a preliminary feasibility study in March.The company plans to provide updated guidance on a construction timeline and capital requirements in late 2026.

$MSA.TO

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Mining & Metals142d ago

Update: Keyera's Purchase of Plains All American's Natural Gas Liquids Assets Challenged by the Competition Bureau

$KEY.TO$PAA