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.’’
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