Enbridge, Iberian Minerals, Laurentian Bank Vero: Canadian Equity Preview

Shares of the following companies may have unusual moves in Canadian trading.

Enbridge Inc. (ENB CN): Canada’s largest pipeline company said China Petroleum & Chemical Corp. joined a group investing more than $100 million in the Calgary-based company’s proposed $5.5 billion pipeline to Canada’s west coast.

Fortress Paper Ltd. (FTP CN): The paper maker said it will sell 967,000 shares for C$51.75 each. The stock rose 5.7 percent to C$54 yesterday.

Iberian Minerals Corp. (IZN CN): The copper and zinc mining company was lowered to “neutral” from “outperform” at Macquarie Group Ltd. The 12-month price estimate is C$1.00.

Laurentian Bank of Canada (LB CN): The Montreal-based bank was raised to “outperform” from “market perform” at Bank of Montreal. The 12-month price estimate is C$59 a share.

Vero Energy Inc. (VRO CN): The oil and gas exploration company was raised to “buy” from “hold at Stifel Nicolaus & Co. The 12-month price estimate is C$7.25 a share.

YM BioSciences Inc. (YM CN): The drug developer said results from a Phase II study of nimotuzmab for stomach cancer were positive, although the test was ‘‘not powered for statistical significance.’’

To contact the reporter on this story: Jennifer A. Johnson in New York at jjohnson156@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

Bloomberg reserves the right to edit or 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.