Churchill, Inmet Mining, Royal Bank: Canadian Equity Preview

Shares of the following companies may have unusual moves in Canadian trading. Stock symbols are in parentheses.

Churchill Corp. (CUQ) : The construction company said it will sell at least 6 million receipts that can be converted into shares at C$16.75 a receipt. The company will also sell C$75 million in debt that can be converted into stock.

Inmet Mining Corp. (IMN CT): The copper-, gold- and zinc-mining company had its rating raised to “outperform” from “sector perform” by Royal Bank of Canada (RY) analyst H. Fraser Phillips. The analyst said in a note to clients that he believes the start-up of the company’s Las Cruces copper mine in Spain will be successful and that its Cobre Panama project in Central America “offers significant upside potential.”

Royal Bank of Canada (RY CT): The country’s largest bank said it earned 96 cents a share in the second quarter, excluding certain items, missing the average of 10 analyst estimates by 11 percent.

Thomson Reuters Corp. (TRI) : The financial news and information provider said it will buy Point Carbon A/S, a Norwegian provider of energy and environmental information.

Toronto-Dominion Bank (TD CT): Canada’s second-biggest bank reported second-quarter profit that missed the average of analyst estimates in a Bloomberg survey by 2.9 percent.

Trican Well Service Ltd. (TCW) : The oilfield services company had its rating increased to “buy” from “neutral” by analyst Chad Friess of UBS AG, who cited the recent decline in the company’s share price and increases in analysts’ earnings estimates.

Whiterock Real Estate Investment Trust (WRK-U CT): The owner of commercial properties in Canada said it will sell at least 2.4 million units at C$14 a unit. The money raised will be used in part to help buy one office tower and lease three others in Mississauga, Ontario.

To contact the reporter on this story; Matt Walcoff in Toronto at

To contact the editor responsible for this story: Nick Baker at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.