Barrick CEO vows to stick to capital strategy as gold prices boost Q2 profits

Barrick CEO vows to stick to capital strategy as gold prices boost Q2 profits
TORONTO — The chief executive of Barrick Gold Corp. said Monday the company’s strategy for spending money is unchanged despite a run up in gold prices that boosted second-quarter results and prompted an increased dividend. Mark Bristow said he is actively guarding against temptation to change course. “First of all, the way you do it, is you don’t blow your... Read More

Martinrea loses $146.9 million in Q2 on 51 per cent drop in sales due to COVID-19

Martinrea loses $146.9 million in Q2 on 51 per cent drop in sales due to COVID-19
TORONTO — Martinrea International Inc. swung to a large loss in its recent quarter as automotive plant closures during the COVID-19 pandemic took a big bite out of its revenues. The autoparts manufacturer says it lost $146.9 million or $1.84 per share in the second quarter, compared with net income of $28.1 million or 34 cents per share a year... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,605.50, up 61.02 points.) Bombardier Inc. (TXS:BBD.B). Industrials. Down a penny, or 2.35 per cent, to nearly $0.42 on 14.53 million shares. Suncor Energy Inc. (TSX:SU). Energy. Up 98 cents, or 4.53 per cent, to $22.60 on 12.96 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 64... Read More

Energy sector lifts Toronto’s main index, while U.S. performance mixed

Energy sector lifts Toronto’s main index, while U.S. performance mixed
TORONTO — The energy sector helped lift Toronto’s main stock index, while those south of the border were mixed. The S&P/TSX composite index rose 61.02 points to closed at 16,605.50. In New York, the Dow Jones industrial average moved up 357.96 points to 27,791.44 and the S&P 500 index gained 9.19 points to 3,360.47. The Nasdaq composite retreated 42.63 points... Read More

Alstom says Bombardier rail problems may affect terms of deal as talks continue

Alstom says Bombardier rail problems may affect terms of deal as talks continue
MONTREAL — French rail giant Alstom SA is warning that problems at Bombardier’s train division may affect negotiations to buy it, but says it still plans to go ahead with the takeover deal. Alstom says that “negative developments” around the train unit’s operations and finances revealed in Bombardier’s quarterly earnings report last week have prompted the would-be buyer to “take... Read More

Sidewalk Labs Toronto office up for lease after layoffs, abandoning smart city

Sidewalk Labs Toronto office up for lease after layoffs, abandoning smart city
TORONTO — Sidewalk Labs’ Toronto office space is available for lease months after the company walked away from building a tech-savvy neighbourhood in the city. An online property listing shows both floors of the Lakeshore Boulevard East building the Manhattan-based Google affiliate occupied are available for $35 per square foot per year for a total of about $155,000 annually. The first floor covers about 13,128 square feet (1,220... Read More

Golden Arrow Resources: a leading pioneer of mineral exploration in Argentina

Golden Arrow Resources: a leading pioneer of mineral exploration in Argentina
The Grosso Group is the management company for Golden Arrow Resources Corp. . Founded in 1993, it is recognized as an early mover in mineral exploration in Argentina. The discovery of three multi-million ounce precious metal deposits and partnerships with industry majors such as Barrick, Viceroy/Yamana, Teck and Rio Tinto makes it clear Argentina has been a great... Read More

Financials and materials help lift index in Toronto, U.S. stock markets mixed

Financials and materials help lift index in Toronto, U.S. stock markets mixed
TORONTO — Gains by stocks in the key financial and materials sectors helped lift Canada’s main stock index in late-morning trading, while U.S. stock markets put in a mixed showing. The S&P/TSX composite index was up 36.87 points at 16,581.35. In New York, the Dow Jones industrial average was up 210.10 points at 27,643.58. The S&P 500 index was down... Read More

Canadian Natural to take over Painted Pony Energy in $461-million deal

Canadian Natural to take over Painted Pony Energy in $461-million deal
CALGARY — Canadian Natural Resources Ltd. says it has struck a $461-million deal to buy much smaller Painted Pony Energy Ltd. The combination of the Calgary-based oil and gas companies for $111 million in cash and the assumption of $350 million in debt is expected to close later this year. In a statement, Painted Pony says it is facing liquidity challenges... Read More