July 30th, 2014

Business

Yamana Gold’s Q2 adjusted earnings come in at US$43.3 million, revenue falls

By The Canadian Press on July 30th, 2014

TORONTO – Yamana Gold Inc. (TSX:YRI) had US$43.3 million of adjusted earnings in the second quarter, which was down from a year earlier amid lower revenue and realized gold prices. The Toronto-based company’s adjusted earnings amounted to five cents per Yamana share – a penny above the general estimate of four cents per share, but ... Read More »

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Agnico Eagle’s Q2 net profit is US$37.7 million, revenue rises on higher output

By The Canadian Press on July 30th, 2014

TORONTO – Agnico Eagle Mines Ltd (TSX:AEM) had US$37.7 million of net income in the second quarter and the profit would have been higher without costs associated with its acquisition of a 50 per cent stake in Osisko Mining, in partnership with Yamana Gold (TSX:YRI). Agnico Eagle’s profit for the three months ended June 30 ... Read More »

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Kinross Gold adjusted earnings fall to US$32.9 million, miss estimates

By The Canadian Press on July 30th, 2014

TORONTO – Kinross Gold Corp. (TSX:K) had US$32.9 million of adjusted earnings in the second quarter, down 72 per cent from the same time last year and below analyst estimates. The Toronto-based company attributed the reduced adjusted earnings to lower gold prices during the quarter. The average price that Kinross received was US$1,285 per ounce ... Read More »

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Barrick Gold’s adjusted profit falls to US$159 milion, misses analyst estimates

By The Canadian Press on July 30th, 2014

TORONTO – Barrick Gold Corp. (TSX:ABX) had a US$269-million net loss and $159-million of adjusted earnings in the second quarter, missing analyst estimates on both counts. The adjusted profit amounted to 14 cents US per share, down from 66 cents a year earlier and two cents a share below analyst estimates. Net loss per share ... Read More »

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MDA reports second-quarter profit and revenue up from year ago mark

By The Canadian Press on July 30th, 2014

RICHMOND, B.C. – MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Wednesday it earned $36.5 million in the second quarter, up from $31.1 million a year earlier, as revenue grew by more than 20 per cent. The satellite communications and surveillance company said the profit amounted to $1.01 per share for the quarter ended June 30, ... Read More »

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Open Text reports fourth-quarter profit doubles from year ago, revenue up

By The Canadian Press on July 30th, 2014

WATERLOO, Ont. – Open Text Corp. (TSX:OTC) reported Wednesday that its fourth-quarter profit doubled compared with a year ago, as revenue improved by more than 40 per cent. The corporate software company, which keeps its books in U.S. dollars, said it earned US$88.1 million, or 72 cents per diluted share, up from $42.2 million, or ... Read More »

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Uni-Select beats expectations by swinging to US$15.5 million Q2 profit

By Ross Marowits, The Canadian Press on July 30th, 2014

MONTREAL – Uni-Select said Wednesday it will focus on boosting sales for the rest of the year after the automotive parts distributor swung to a US$15.5-million profit in the second quarter. The Quebec-based company, which reports in U.S. dollars, said the profit amounted to 73 cents per share compared with a loss of $9.3 million ... Read More »

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Loonie declines amid rebound in U.S. GDP; traders look to Canadian growth data

By Malcolm Morrison, The Canadian Press on July 30th, 2014

TORONTO – The Canadian dollar closed lower Wednesday as the American greenback gained strength against major currencies after data showed that the U.S. economy rebounded strongly in the second quarter. The loonie was down 0.36 of a cent to 91.73 cents US as gross domestic product in the U.S. grew a much better than expected ... Read More »

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Cenovus weighing royalty spinout, adding rail expertise to leadership team

By Lauren Krugel, The Canadian Press on July 30th, 2014

CALGARY – The CEO of Cenovus Energy Inc. says he’s carefully considering whether to spin out 4.5 million acres of royalty land into a new entity, or if shareholders would be better off with the status quo. Cenovus chief executive Brian Ferguson said Wednesday he’s been asked numerous times by existing and prospective shareholders whether ... Read More »

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Torstar has no plans yet for Harlequin proceeds, reports higher Q2 profit

By Linda Nguyen, The Canadian Press on July 30th, 2014

TORONTO – Besides paying off debt, Torstar Corp. (TSX:TS.B) says it hasn’t decided what do with the proceeds from the recent $455-million sale of romance book publisher Harlequin. “I think we’re going to step back and take our time. I don’t think there’s anything (obvious investments) that’s right in front of us,” Torstar chief financial ... Read More »

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