Contact Exploration, Lucara Diamond, Ruggedcom: Canadian Equity Preview
Contact Exploration Inc. (CEX CN): The oil and gas exploration company said it has started work on a drilling rig at the Stoney Creek oil field and expects that the first horizontal oil well to begin drilling this week.
First Quantum Minerals Ltd. (FM CT): The Canadian mining company was raised to “outperform” from “neutral” at Macquarie Group Ltd. by equity analyst Pierre Vaillancourt. The 12-month price estimate is C$95.
Lucara Diamond Corp. (LUC CN): The diamond miner with operations in Africa said in a statement on Marketwire it agreed to acquire African Diamonds Plc for about C$72.3 million.
Hanfeng Evergreen Inc. (HF CN): The seller of fertilizer in China said it completed a joint venture distribution agreement with Beidahuang Agriculture Co.
Ruggedcom Inc. (RCM CN): The maker of networking equipment and software has agreed to purchase the substation automation business of Bow Networks Inc. for C$2.1 million.
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