By The Canadian Press
TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,422.12 down 259.98 points):
Kinross Gold Corp. (TSX:K). Miner. Down 44 cents, or 5.81 per cent, at $7.13 on 11.69 million shares. The gold sector led all the subgroups in the red, down 4.70 per cent to 230.35 points. The price of the June bullion contract fell US$22.40 to $94.45 per ounce.
Orbite Aluminae Inc. (TSX:ORT.TO - News). Mining technology. Down five cents, or 4.39 per cent, at $1.09 on 5.04 million shares. The company filed a shelf prospectus to fund its projects. President and CEO Richard Boudreault said the company is "continuously assessing financing options." The stock closed at its lowest level since January 2011.
Toronto Venture Exchange (1,038.62 down 30.48 points):
Companies reporting major news:
First Quantum Minerals Ltd. (TSX:FM.TO - News). Miner. Down 72 cents, or 3.85 per cent, at $17.96 on 3.09 million shares. The miner suspended engineering contracts with SNC-Lavalin (TSX:SNC.TO - News) Group Inc. and other partners at the massive Cobre Panama copper project. The value of the work SNC-Lavalin was contracted to do was about $120 million. SNC's stock fell 40 cents, or 0.94 per cent, at $42 on 1.29 million shares.
Legacy Oil and Gas Inc. (TSX:LEG.TO - News). Oil and gas. Down 11 cents, or 2.01 per cent, at $5.36 on 2.2 million shares. The company announced two separate acquisitions totalling $108.6 million. The deals will further expand Legacy's light oil presence in Saskatchewan and Alberta.
Valeant Pharmaceuticals (TSX:VRX.TO - News). Drug developer. Down $3.57, or 4.67 per cent, at $72.91 on 967,232 shares. The former Biovail Corp. sharply increased its friendly takeover bid for Obagi Medical Products in response to an offer from a German-based rival.