Toronto Stocks Down; Lundin Gold Shares Fall on Outlook

By Adriano Marchese

Toronto stocks edged lower on Wednesday mid-trading, with most sectors continuing to trend down. In the session, only the health tech and utilities sectors posted gains. Shares in Lundin Gold Inc. fell after the company set its three-year guidance on Wednesday.

Canada's S&P/TSX Composite Index fell 0.54% to 20536.17 and the blue-chip S&P/TSX 60 was down 0.37% at 1250.75.

Vancouver-based Lundin Gold Inc. shares slid 4.5% to C$8.97 after it said it expects gold production to be above 400,000 ounces of gold a year over the next three years. Gold production at its Fruta del Norte mine in Ecuador is estimated to be between 405,000 ounces of gold and 445,000 ounces in 2022.

Other market movers:

Shares in Tamarack Valley Energy Ltd. fell 2.7% to C$3.31 after announcing it had agreed to acquire privately held Crestwynd Exploration Ltd. for 184.7 million Canadian dollars, the equivalent of US$143.6 million.

Greenlane Renewables Inc. shares rose by 1.8% to C$1.15 after announcing an agreement to acquire Airdep SRL in Italy for a total consideration of 9 million euros, the equivalent of US$10.1 million.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

12-15-21 1214ET