Here are the most active stocks on Friday mid-morning on the TSX and TSX Venture Exchange.
On Friday, the top TSX mover was
Air Canada (
TSX: T.AC.B,
Stock Forum). It rose 12.3% and was trading at $4.46 on volume of 8.8 million shares.
Today, the airliner said for the month of September, Air Canada had a system load factor of 83.2%, versus 84.9% in September 2012, and a system load factor for the third quarter of 86.2%, versus a record of 86.3% for the quarter last year. System traffic for September increased 1.9% on a system-wide capacity increase of 3.9%.
Mirabela Nickel Ltd. (
TSX: T.MNB,
Stock Forum) was the second most active stock on the TSX. The stock soared 200% and trading at $0.015 on volume of 4.9 million.
On October 3, the exploration, development and production company reported that Standard and Poor's Ratings Services lowered the company's corporate credit rating from 'B-' to 'CCC+'. In addition to the downgrade, the rating is also placed on CreditWatch with negative implications.
Moody’s Investors Services also downgraded the company's Corporate Family Rating and Senior Unsecured debt ratings to Caa3 from Caa1. The outlook on the ratings is negative.
The downgrades are a result of the Mirabela losing Votorantim Metais Niquel S.A., one of two customers who have been buying the company’s concentrate. As a result of this development, Mirabela provided notice on October 1 of the potential default related to a loan arrangement with Banco Bradesco S.A.
Mirabela's subsidiary, Mirabela Mineração do Brasil Ltda, has a US$50 million loan facility with Bradesco, which is secured by the company's contract with Votorantim.
Rockridge Capital Corp. (
TSX: V.RRC,
Stock Forum) was the volume leader on the TSX Venture Exchange. It lost 25% and was trading at $0.015 on volume of 3.5 million.
The exploration and development junior had no related news to explain the high volume in trading.
The second most active stock on the TSX Venture was
Capital Pro-Egaux Inc. (
TSX: V.CPE.H,
Stock Forum) It climbed 233% and was trading at $0.05 after 2.2 million shares changed hands.
Today on PR Newswire, the titanium dental prosthesis restoration products designer announced the declaration of a one-time special cash dividend of $0.03 per common share payable on Oct. 22, 2013 to shareholders of record at the close of business on Oct. 17, 2013.
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