TSX News: TransCanada, Great Panther Silver, Telus, Tim Hortons, Sprott and more
TransCanada Corp. (NYSE:TRP)(NYSE:TRP) said Wednesday the company has secured firm commitments to go ahead with a $275 million oil terminal in Hardisty, Alberta.
The Hardisty terminal is the starting point and an important element of the Keystone XL pipeline, which has run into regulatory delays.
Great Panther Silver (TSE:GPR)(AMEX:GPL) Wednesday unveiled updated mineral resource estimates at its wholly-owned Guanajuato Mine and and San Ignacio project in Guanajuato, Mexico.
Telus (TSE:T) (NYSE:TU) Wednesday posted its first quarter results that were overshadowed by its withdrawal of a proposal to end its dual-share structure just hours before the move was to be put to a vote.
Meanwhile, the company released its first quarter results on Wednesday, posting net income of $348 million, or $1.07 per share, up six percent compared to a profit of $328 million, or $1.01 per share, in the same period last year.
Tim Hortons (TSE:THI) (NYSE:THI) said Wednesday its first quarter profits grew 10 percent on sales growth, but earnings fell short of analysts’ estimates.
For the three months that ended April 1, the Canadian coffee and baked goods giant posted net earnings of $88.8 million, or 56 cents per share, up 10 percent from $80.7 million, or 48 cents per share, a year ago.
Revenues rose 12.1 percent to $721.3 million, from $643.5 million in the same period last year.
Curis Resources (TSE:CUV) said Wednesday it has finalized a definitive agreement for a $40 million senior secured loan facility and copper-off take deal with RK Mine Finance Trust (Red Kite).
Asset manager Sprott Inc. (TSE:SII) announced its first-quarter results Wednesday, with profits surging 60% on investment gains and rising revenue from new offerings, far surpassing Street expectations.
For the quarter ended March 31, Sprott posted net income of $16.9 million or 10 cents per share, up 60 percent from $10.6 million, or seven cents per share in the first quarter of 2011.
Proxy advisory firms Glass Lewis and Egan-Jones Wednesday publically backed Pershing Square Capital Management’s manager William Ackman in a bid for sweeping change of management at railway Canadian Pacific (TSE:CP).
Stonecap Securities has kept its "Sector Perform" rating and $9.40 target price on Argonaut Gold (TSE:AR) after the company gave an update on its San Antonio and La Colorada projects.
Home improvement retailer Rona (TSE:RON) narrowed its fiscal first-quarter loss Wednesday, though the company reported sales from established stores declined amid lower margins.
The retailer narrowed its net loss to $13.3 million, or 10 cents per share, compared with a year-ago loss of $17.6 million, or 13 cents a share.
Media giant Quebecor (TSE:QBR.B) said Wednesday fiscal first-quarter profit more than doubled driven by a hefty gain on financial instruments and other items.
Net income attributable to shareholders was $72.9 million, or $1.15 per share, in contrast to a year-ago profit of $34.3 million, or 53 cents a share.
Mandalay Resources (TSE:MND) said both of its mines performed well in the first quarter to end-March 2012 and EBITDA rose to US$6.12 million in the period from US$3.38 million in the fourth quarter.
Calfrac Well Services (TSE:CFW) said Wednesday fiscal first-quarter profit jumped 44 percent amid revenue growth led by strong drilling activity in North America and Latin America, though margins eased.
Net earnings climbed to $70.8 million, or $1.59 per share, on $471 million in revenue for the latest period that ended March 31.
Media conglomerate Torstar Corp. (TSE:TS.B) said fiscal first-quarter earnings grew on Thursday and increased its dividend by five percent, despite lower revenue hit by a weak advertising market.
Net income attributable to shareholders was $29.3 million, or 37 cents per share, on $350.8 million in revenue.
Vancouver-based Nevsun Resources (TSE:NSU)(AMEX:NSU) said Wednesday it posted strong first quarter results, and raised its gold production forecast for 2012 to 260,000 ounces.
Tech licensing firm Wi-LAN (NASDAQ:WILN)(TSE:WIN) reported fiscal first quarter earnings fell due to a $31.1 million debt financing charge, and forecasted second-quarter revenue.
For the first three months of the year, Wi-LAN posted a net loss of $14.4 million, or 12 cents per share, compared with a year-earlier earnings of $19.8 million, or 17 cents a share. Revenue was $24.7 million down from the $26.3 million a year-previously.
Fertilizer producer Agrium (TSE:AGU) (NYSE:AGU) said fiscal first quarter profit dropped due to hedging losses and higher costs in the period, which masked a 23 percent rise in sales.
In the January-March period, net earnings slumped to $155 million, or 97 cents per share, versus $171 million, or $1.09 per share, a year ago.
Pipeline company Enbridge (TSE:ENB) said Wednesday that first-quarter net profit fell 27 percent as it suffered losses from the revaluation of financial derivatives.
For the three months ended March 31, the Calgary-based pipeline company earned $264 million or 34 cents per share, down from $364 million or 48 cents a year earlier. The latest quarter included $110 million of unrealized non-cash mark-to-market derivatives losses.
Surge Energy (TSE:SGY) nearly doubled production in the first quarter and reiterated its guidance for the full year, still expecting to average 9,750 barrels of oil equivalent per day and to end the year on 11,000 boe/d.
In the three months to end-March 2012, the oil and gas group with operations in Alberta, Manitoba and North Dakota produced 9,009 boe/d, up from 5.076 boe/d in the previous first quarter.
