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Market: TSX
Sector: General Mining
EPIC: TSXC
Latest Price: 12,667.20  (0,00%)
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TSX News: Torex Gold Resources, Air Canada, TransCanada and more

4th May 2012, 2:50 pm by Proactiveinvestors
TSX News: Torex Gold Resources, Air Canada, TransCanada and more

Toronto-based Torex Gold Resources (TSE:TXG) on Friday said it came "within a whisker" of its five-million ounce resource goal at the company’s Mexican Morelos project, reporting 4.8-million in measured and indicated ounces of gold.

Canadian airline Air Canada (TSE:AC.B) said Friday that surging fuel prices, labour disruptions and the demise of its former
maintenance unit Aveos contributed to a sharp drop in first-quarter profits.

For the quarter that ended March 31, the airline reported a loss of $210-million, or 76 cents a share, compared with a loss of
$19-million, or seven cents a share, during the same period last year.

TransCanada (NYSE:TRP)(TSE:TRP) submitted a presidential permit application for its Keystone XL pipeline to the U.S. Department of State, the company said Friday. 

TransCanada said it will choose an alternative route through Nebraska to avoid an environmentally sensitive area. The line would run from Hardisty, Alberta to Steele City, Nebraska.

Mercator Minerals (TSE:ML) Friday said it was lowering  its full-year production forecast for its flagship Mineral Park mine in
Arizona, as it mined lower ore grades and mill throughput was impacted by the processing of harder ore.

The company's shares plunged almost 11 percent on the news, trading at $1.07 on Friday afternoon.

Stonecap Securities has kept its target US$106 price and "Outperform" rating on SXC Health Solutions Corp. (NASDAQ:SXCI)(TSE:SXC) after the pharmacy benefits manager posted first-quarter earnings.

HSBC Bank Canada (TSE:HSB-C) said first-quarter profits jumped by 37.5 percent thanks to higher net interest income and lower operating costs.

The bank, which is a subsidiary of global banking giant HSBC Holdings (NYSE:HSBC), said profits were $220 million, or 41 cents per share for the quarter ended March 31.

GMP Capital (TSE:GMP) dipped into the red in the first quarter due to weaker performance in its capital markets segment, the investment dealer said Friday.

For the three months ended March 31, net loss was $2.3 million or four cents per share, compared with net income of $22.5 million or 29 cents per share a year earlier.

Fund manager IGM Financial (TSE:IGM) said Friday that first-quarter earnings contracted as the company also posted a drop in
revenue.

IGM said first-quarter net earnings was $199.7 million or 78 cents per diluted share. That compares to the $212.1 million or 81 cents per share it posted last year.

No investment advice


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