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Toronto Stocks Edge Up; Barrick Stock Rises on Higher 2Q Profit

08/08/2022 | 12:18pm EDT

By Adriano Marchese


Canadian stocks pushed higher on Monday midday-trading after posting a 0.4% loss in the previous week. In the session, consumer durables and health services were the largest of the few decliners, while process industries and materials were the biggest gainers. Shares in Barrick Gold Corp. rose after it posted higher profit in its second quarter, despite a slight decline in revenue.

At midday, Canada's S&P/TSX Composite Index was up 0.31% at 19681.69 and the blue-chip S&P/TSX 60 inched 0.13% higher to 1187.76.

Barrick Gold Corp. shares were 4.7% higher after it said net income rose to $488 million, or 27 cents a share, up from $411 million, or 23 cents a share, in the same period a year earlier.


Other market movers:

Foran Mining Corp.'s stock was 17% higher at C$2.66 after it said it entered into a preliminary agreement for a C$200 million investment in its Saskatchewan copper project by Ontario Teachers' Pension Plan Board.

Geodrill Ltd. shares were 9.3% higher at C$2.58 after the company said its profit jumped nearly 50% on the back of higher demand for drilling.

Shares in Cenovus Energy Inc. rose by 2.5% to C$21.80 on news that it will acquire the remaining 50% interest in the bp-Husky Toledo refinery in Ohio from BP PLC's for $300 million.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-08-22 1217ET

Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORPORATION -0.15% 19.62 Delayed Quote.-18.25%
CENOVUS ENERGY INC. -0.33% 20.97 Delayed Quote.35.40%
GEODRILL LIMITED 0.00% 2.33 Delayed Quote.10.43%
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