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First Quantum, Kinross Gold, Rogers: Canada Equity Preview

By Matt Walcoff

Oct. 27 (Bloomberg) -- Shares of the following companies may have unusual moves in Canadian trading. Stock symbols are in parentheses.

The Standard & Poor’s/TSX Composite Index fell for a second day yesterday, losing 147.25 points, or 1.3 percent, to 11,234.88.

Canadian Pacific Railway Ltd. (CP CN): The nation’s second- biggest railroad said it earned 85 cents a share in the third quarter, excluding certain items, exceeding the average estimate of analysts surveyed by Bloomberg by 6 percent.

First Quantum Minerals Ltd. (FM CN): The copper-mining company had its rating increased to “neutral” from “underweight” by analyst Jordi Dominguez of HSBC, who cited a higher forecast for copper prices.

Kinross Gold Corp. (K CN): The country’s third-largest gold producer reduced its production forecast for 2009 to 2.2 million ounces from a range of 2.4 million to 2.5 million ounces because a Brazilian plant isn’t meeting production targets. The company also said cost of sales per ounce will be $435 to $450, compared with a January forecast of $390 to $420 an ounce.

Lululemon Athletica Inc. (LLL CN): Canada’s second-largest publicly traded apparel company increased its forecast for third-quarter earnings by 6 cents a share to 17 to 19 cents a share. The average estimate of 10 analysts surveyed by Bloomberg was for a profit of 14 cents a share.

RioCan Real Estate Investment Trust (REI-U CN): Canada’s largest REIT by market value said it will buy $40 million worth of shares of Cedar Shopping Centers Inc. The two companies will create a joint venture to acquire and own retail sites in the U.S.

Rogers Communications Inc. (RCI/B CN): The country’s largest wireless carrier and cable television provider said it earned 81 cents a share, excluding certain items, in the third quarter, topping the average analyst estimate by 50 percent.

Toronto-Dominion Bank (TD CN): TD Ameritrade Holding Corp., the third-largest retail brokerage by client assets, reported profit of 26 cents a share for the fourth quarter, excluding certain items, beating the average analyst estimate by 7.9 percent. TD Ameritrade’s profit should contribute C$59 million ($55.3 million) to Toronto-Dominion’s fourth-quarter earnings, the bank said. Toronto-Dominion, Canada’s second-biggest bank, owns about 45 percent of TD Ameritrade.

To contact the reporter on this story: Matt Walcoff in Toronto at mwalcoff1@bloomberg.net.

Last Updated: October 27, 2009 09:01 EDT