The Daily

February 23, 2023 Daily Market Commentary Canadian Headlines First Quantum Minerals Ltd. said it’s been forced to stop processing copper at its giant mine in Panama after the government blocked it from loading the metal at a port in the country. The move is a further escalation in an ongoing dispute between the miner and the [...]

February 22, 2023 Daily Market Commentary Canadian Headlines Canadian stocks posted their biggest decline in two months Tuesday as cannabis and information-technology shares declined, even as consumer price index data showed cooler-than-expected inflation for January. The S&P/TSX Composite fell 1.3% as every sector declined and the index fell for a third straight session.  Only 22 [...]

February 21, 2023 Daily Market Commentary Canadian Headlines Teck Resources Ltd. will spin off its steelmaking coal business to shareholders as it shifts focus to industrial metals, and plans to wind down the dual-class share structure through which Canada’s Keevil family controls the company. Teck will separate into two independent, publicly-listed companies: Teck Metals Corp. and Elk Valley [...]

February 17, 2023 Daily Market Commentary Canadian Headlines Rogers Communications, Shaw Communications and Quebecor extended the deadline to close their deals to March 31. The companies said they’re working with the department in charge of telecom policy, led by Industry Minister François-Philippe Champagne, who has final say on the deal. Hedge fund Luxor Capital Group stepped up [...]

February 16, 2023 Daily Market Commentary Canadian Headlines Teck Resources Ltd. is planning to separate its multibillion-dollar steelmaking coal business to focus more on industrial metals, according to people familiar with the matter. The Canadian miner is expected to make an announcement on the spinoff as early as next week, the people said, asking not to [...]

February 15, 2023 Daily Market Commentary Canadian Headlines Barrick Gold Corp. plans to reverse a three-year production slump that brought output to the lowest level in more than two decades. The world’s second-biggest gold miner expects to produce 4.2 million to 4.6 million ounces this year, up from 4.14 million ounces last year, according to its [...]

February 14, 2023 Daily Market Commentary Canadian Headlines Shopify Inc. was the among the first technology giants to slash its workforce during last year’s market rout. Now, some investors say its stock is poised to outperform peers over the course of 2023 as those job cuts translate into lower costs, narrower losses and better cash flow. [...]

February 13, 2023 Daily Market Commentary Canadian Headlines B2Gold Corp., a Canadian gold miner with assets in Africa and the Philippines, agreed to buy Sabina Gold & Silver Corp. in a C$1.1 billion ($820 million) stock deal. The deal is the latest sign of M&A heating up in the industry, after Newmont Corp.’s $17 billion offer for [...]

February 10, 2023 Daily Market Commentary Canadian Headlines Enbridge Friday morning reported non-GAAP Q4 net income of CA$0.63 per share, down from a CA$0.68 per share adjust profit during the final three months of 2021. Analysts, on average, had been expecting the pipeline company earning CA$0.73 per share during the three months ended Dec. 31, [...]

February 9, 2023 Daily Market Commentary Canadian Headlines Ivanhoe Mines Ltd. founder Robert Friedland said he may bring in a minority partner to help develop Congolese copper assets that are key to the green energy transition. The Vancouver-based company is in discussions with potential partners, including sovereign investors, as countries seek stable supplies of the metal, Friedland said. [...]