Suncor Energy jumps after solar and wind announcement, while Cineplex is on the decline. Here are the past week’s winners and losers:
Shares of the Calgary-based energy company jumped after it announced a plan to sell its wind and solar assets to global energy infrastructure firm Canadian Utilities for $730 million. Suncor Energy says the sale, expected to be finalized in 2023, will help achieve its goal of becoming a net-zero carbon emissions company by 2050. Suncor’s stock has surged 38 per cent since mid-2021 when itCopper Mountain Mining Corp.
Last week, the Vancouver-based copper producer, developer and explorer struck a deal to sell its Eva copper project and an exploration land package to Harmony Gold Mining Company, which is based in Queensland, Australia. The deal, worth $230 million, helped lift the stock price of Copper Mountain Mining, which has fallen almost 49 per cent over the past six months. It’s a win for Harmony Gold Mining Company too: Pending approval, the project could add about 1.
The bear market for digital tokens shows little signs of improving. Last Thursday, the Vancouver-based cryptocurrency trading platform said it will begin offering stock trading in the first quarter of 2023. WonderFi Technologies plans to offer investments, including fractional trading through Bitbuy, also a cryptocurrency trading platform. Yet, despite the expansion and recent acquisitions, shares of WonderFi Technologies have slumped more than 38 per cent in the past six months.
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