TSX Volume Leaders: FNX, EQN, BNK, ML, TCK.B
updated Wednesday, August 19, 4:57 PMFor the second day in a row, resource companies are on the move on the Toronto Stock Exchange.
With gold up another $4.00 per ounce, Crude Oil topping $70, and Copper trading around $2.70 per pound, the volume leaders on the TSX are once again largely mining and energy companies.
Yesterday afternoon, FNX Mining Company (FNX.CA), a diversified Canadian nickel company, announced that it has entered into an agreement with underwriters to sell 13 million units at $9.65 per unit. Each unit consisting of one common share and one warrant to purchase one-half of one common share at a price of $13.00 per share. The aggregate gross proceeds to FNX is expected to be $125.45 million.
News of the financing is driving shares lower by about two and three quarter percent on volume of approximately 3 million shares this morning.
Other resource companies moving today are Equinox Minerals (EQN.CA), an international mining company, focused on operating its 100% owned Lumwana Copper Project in Zambia. The company's stock is currently down over 4% on about 2.7 million shares traded so far today.
Bankers Petroleum (BNK.CA), a Canadian-based oil and gas exploration and production company, also finds itself among the volume leaders this morning with over 2.8 million shares traded and the stock up over 9%.
Mercator Minerals (ML.CA), a mining company working one of the largest copper-moly mining-milling operations in North America, now spends its second day in a row in the volume leaders column. Mercator is currently down 3.25% on over 2.8 million shares traded.
And Teck Resources (TCK.B.CA) spends its second day in a row on the volume leaders list. The diversified mining company focuses on mineral development and the stock has currently traded over 2.7 million shares today, down almost 3%.
For MarketNewsVideo.com, I'm Michael Phillips.