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Toronto Stocks Fall, Lundin Mining Slides on Achieving Lowered Production Targets

01/14/2022 | 12:26pm EST

By Adriano Marchese

Canadian stocks were modestly lower Friday, with natural resources, consumer durables and manufacturing the biggest weights on the indexes.

Tech and communications were the biggest gainers of the session.

At midday, Canada's S&P/TSX Composite Index fell 0.37% at 21215.06. The blue-chip S&P/TSX 60 fell 0.19% at 1291.29.

Shares in Lundin Mining Corp. fell after the company said it met its production targets for the year, which had been reduced earlier in 2021 because of challenges at its mining operations in Chile.

Lundin Mining shares fell 2.4% at C$10.61 after it said it achieved production guidance for all metals in 2021, with copper output increasing 14% over 2020 levels at 262,884 tons. The company's Candelaria mining complex in Chile, its largest, produced 151,719 tons of copper, within its latest guidance range of 150,000 tons to 155,000 tons, which had been lowered in June from a range of 172,000 tons to 182,000 tons.

Other market movers:

Shares in Decibel Cannabis Co. rose 3.3% to C$0.16 after it said it has entered into an amended and restated commitment letter with a lender regarding C$54 million debt capital to use toward repaying its convertible debentures on maturity.

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

(END) Dow Jones Newswires

01-14-22 1225ET

Stocks mentioned in the article
ChangeLast1st jan.
AURORA CANNABIS INC. -2.31% 5.93 Delayed Quote.-11.39%
AUXLY CANNABIS GROUP INC. 0.00% 0.16 Delayed Quote.-13.51%
CANOPY GROWTH CORPORATION -0.73% 9.46 Delayed Quote.-13.68%
CRONOS GROUP INC. -0.45% 4.45 Delayed Quote.-10.24%
HEXO CORP. 1.41% 0.72 Delayed Quote.-19.32%
LUNDIN MINING CORPORATION 1.11% 10.96 Delayed Quote.9.72%
ON SEMICONDUCTOR CORPORATION -5.88% 55.54 Delayed Quote.-18.23%
ORGANIGRAM HOLDINGS INC. 0.00% 1.93 Delayed Quote.-13.06%
S&P GSCI ALL METALS INDEX 0.12% 289.6166 Delayed Quote.3.72%
THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD. -4.76% 0.1 Delayed Quote.10.53%
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