Home Energy company Toronto stocks were little changed; Fall in energy companies, rise in...

Toronto stocks were little changed; Fall in energy companies, rise in lithium Americas


By Michael Dabaie

Toronto stocks were almost flat at noon on Friday, with energy stocks lower and Lithium Americas shares higher in the last session of the week.

Canada’s S & P / TSX Composite Index was down 0.1% to 21,615.4, while the blue-chip S & P / TSX 60 was roughly flat at 1,304.45.

The shares of Enerplus Corp. were down about 6% on recent trading to C $ 12.03 and shares of MEG Energy Corp. fell 5.5% to C $ 10.40.

Shares of Lithium Americas rose 9.5% to C $ 45.80. JP Morgan raised its price target for Lithium Americas to C $ 49 to reflect higher lithium price expectations and the company’s impending acquisition of Millennial Lithium, and maintained the title at Overweight.

Other market drivers:

Shares of Centerra Gold were down 5% to C $ 9.94. The company said that due to recent heavy rains, flooding and mudslides in British Columbia, rail service between Vancouver’s west coast terminals and the company’s Mount Milligan mine has been temporarily suspended.

Air Canada shares fell 1.4% to C $ 23.81. The airline said that due to its improving liquidity situation and the ongoing recovery after the pandemic, it was withdrawing from financial support from the Canadian government.

Write to Michael Dabaie at [email protected]