Toronto Stocks Rise; WELL Health Gains on Expectation of Stronger 4Q

By Adriano Marchese

Canadian stocks are moderately higher on Thursday mid-trading, with most sectors pushing up the indexes. In the session, materials are the primary lag, with some losses in the communications sector. Shares in WELL Health Technologies Corp. rose after announcing that it expects to report a better-than-expected performance in the fourth quarter, and that it plans to restart its share buyback program.

Canada's S&P/TSX Composite Index was up 0.56% to 21324.20 and the blue-chip S&P/TSX 60 rose 0.53% to 1295.88.

WELL Health shares rose 12% to C$4.30 after the company said it expects to report an annualized revenue run-rate of more than C$450 million, compared with its previous guidance for it to approach C$450 million in the year.

Other market movers:

Richelieu Hardware Ltd. shares rose 6.1% to C$47.38 after it reported a rise in fourth-quarter profit, benefiting from strong sales in the period.

Hut 8 Mining Corp. and TeraGo Inc. shares were both higher midday after Hut 8 said it would acquire TeraGo's cloud and colocation data center business for C$30 million. Hut 8 Mining shares rose 9.6% to C$8.31, while TeraGo shares climbed 5.5% to C$5.80.

Endeavour Silver Corp. shares fell 0.5% to C$5.80 after it said that cost management will be a main focus in 2022 as it tries to offset inflationary pressures, while production is expected to be in-line with the average of the past three years.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

01-20-22 1215ET