Fortis, Western Copper, Yamana Gold: Canadian Equity Preview

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

Athabasca Oil Sands Corp. (ATH) : PetroChina Co.’s partner in oil-sands development increased its 2011 capital- expenditure budget by C$61.5 million ($62.7 million).

Capstone Mining Corp. (CS) : The copper producer with operations in Yukon and Mexico had its rating cut to “market perform” from “outperform” by David Cotterell, an analyst at Bank of Montreal.

Evertz Technologies Ltd. (ET) : The maker of electronics for broadcasters said it will buy back as much as 5 percent of its stock.

Fortis Inc. (FTS CN): Canada’s largest publicly traded utility had its rating cut to “sector perform” from “outperform” by Patrick Kenny, an analyst at National Bank of Canada.

Western Copper Corp. (WRN) : The metals explorer with operations in Yukon, British Columbia and the Northwest Territories said it will split into three companies. One will own the Carmacks Copper and Redstone projects, and a second will own the Island Copper project. Western Copper will keep the Casino deposit.

Yamana Gold Inc. (YRI) : Canada’s fifth-biggest gold producer had its rating raised to “overweight” from “neutral” by Patrick Chidley, an analyst at HSBC Holdings Plc.

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

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

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