Barrick, Maxim Power, Research in Motion, Stantec: Canadian Equity Preview
Shares of the following companies may have unusual moves in Canadian trading. Stock symbols are in parentheses.
Barrick Gold Corp. (ABX CT): The world’s biggest gold producer was raised to “buy” from “hold” at Deutsche Bank AG by equity analyst Jorge Beristain. The 12-month price estimate is C$57.45 per share, up from C$45.55.
Canadian Pacific Railway Ltd. (CP CT): Canada’s second- largest railroad was raised to “buy” from “hold” at Desjardins Securities Inc. by equity analyst Benoit Poirier. The price estimate is C$64.00 per share.
First Quantum Minerals Ltd. (FM CT): Canada’s second- largest copper producer was downgraded to “market perform” from “outperform” at BMO Capital Markets by equity analyst David Radclyffe. The price estimate is C$65.00 per share.
Maxim Power Corp. (MXG CT): The owner of power plants in Canada, the U.S. and France said that it has received an arbitration decision regarding the price its wholly owned subsidiary, Milner Power Limited Partnership, pays for coal purchased from Coal Valley Resources Inc, which will reduce net income by $8.8 million.
Platinum Group Metals Ltd. (PTM CT): The owner of the Western Bushveld deposit in South Africa was raised to “outperform” from “market perform” at Raymond James by equity analyst Bart Jaworski. The 12-month price estimate is C$2.70 per share.
Research in Motion Ltd. (RIM CT): China Unicom (Hong Kong) Ltd. is in talks with the maker of BlackBerry smartphones to start selling the devices in China, possibly this year, Caijing magazine said, citing Unicom Senior Vice President Li Gang.
Stantec Inc. (STN CT): The engineering and architecture consultant was raised to “outperform” from “market perform” at Raymond James by equity analyst Ben Cherniavsky. The 12-month price estimate is C$28.00 per share.