TSX movers: Talon Metals jumps 27.5%, North West and HIVE surge
Investing.com -- Canadian stocks were broadly lower on Thursday, but a handful of sharp individual moves stood out on the Toronto Stock Exchange, with Talon Metals surging 27.5% and North West Company and HIVE Digital Technologies also among the session’s biggest gainers.
Talon Metals Corp (TSX: TLO) was up 27.5%, putting the nickel-copper explorer at the top of the TSX movers list after the company reported record assay results from its Tamarack project in Minnesota. The stock had closed at C$8.34 on Wednesday, after falling 0.24%, following a strong run in recent sessions.
North West Company Inc (TSX: NWC) was also among the strongest performers, gaining nearly 8% and extending its recent advance. The retailer, which serves communities across northern Canada, was the best-performing stock on the TSX Composite on Wednesday, when it rose 7.84% to C$52.95.
HIVE Digital Technologies was another notable gainer, rising more than 16% in the latest market data, adding to the list of sharply moving TSX names despite weakness across the broader market.
The moves came as the S&P/TSX Composite fell about 0.9% to 35,583.89 by 10:19 a.m. ET, putting the benchmark on track for a fourth straight session of declines and its lowest level since Aug. 4. Higher oil prices and Canadian bond yields were weighing on sentiment, while weaker precious-metals and copper prices added further pressure.
Among other notable gainers, precious-metals names remained active, while energy stocks were mixed as crude prices stayed elevated. Whitecap Resources and Canadian Natural Resources posted smaller gains, benefiting from strength in oil prices.
On the downside, Enbridge Inc (NYSE: ENB) was among the more prominent large-cap decliners, while Bird Construction, MDA Space, Boyd Group Services, Bausch Health and BRP were among the sharper losers.
The divergence between the broader index and individual stocks highlights a highly selective market, with company-specific catalysts driving some of the largest moves even as higher yields and commodity-price volatility weigh on the benchmark.
