Toronto Stocks Slightly Down; Nomad Royalty Shares Rise on Gold Stream Deal

12/08/2021 | 12:23pm

By Adriano Marchese

Canadian stocks were slightly lower on Wednesday mid-trading. In the session, gains in process industries were outweighed by declines in tech services and consumer durables stocks. Shares in Nomad Royalty Co. were higher after announcing a gold purchase agreement with Ivanplats (Pty) Ltd. for $75 million.

At midday, Canada's S&P/TSX Composite Index was down 0.50% at 21056.54. The blue-chip S&P/TSX 60 was also down 0.43% at 1275.95.

Nomad Royalty Co. shares were 4.7% higher at C$9.89 after it said it will provide $75 million in gold stream funding to Ivanplats as part of a $200 million gold stream co-investment with Orion Mine Finance. Payments will be made until 350,000 ounces of gold have been delivered, of which 131,250 will be attributable to Nomad.

Other market movers:

Dollarama Inc. shares fell 0.9% to C$56.99 despite reporting earnings per share of C$0.61, up from C$0.52 a year earlier, on sales of C$1.12 billion, which rose from C$1.06 billion.

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

(END) Dow Jones Newswires

12-08-21 1222ET

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