Agrium, Fording Coal, Nortel, Shore Gold: Canada Equity Movers

By John Kipphoff

June 11 (Bloomberg) -- The following companies had unusual price changes in Canadian trading. Stock symbols are in parentheses, and share prices are as of 4:10 p.m. in Toronto.

The Standard & Poor's/TSX Composite Index slipped 0.1 percent to 14,716.52.

Railroad shares fell after Burlington Northern Santa Fe Corp. was rated ``short-term sell'' by UBS AG analysts, who said that the second-largest U.S. railroad may cut its profit forecast on rising fuel prices.

Canadian National Railway Co. (CNR CN), the nation's largest railroad, dropped the most in 11 months, falling 4.3 percent to C$50.28. Canadian Pacific Railway Ltd. (CP CN) declined 3.3 percent to C$65.34.

Agrium Inc. (AGU CN) climbed the most in three months, advancing 8.3 percent to a record C$102. North America's third- largest fertilizer producer by market value said it will have at least 26 percent more profit in the second quarter than it forecast previously, because high global crop prices have created ``unprecedented demand'' for crop nutrients.

Potash Corp. of Saskatchewan Inc. (POT CN), the world's largest maker of crop nutrients by market value, rose 1.1 percent to a record C$227.33. Athabasca Potash Inc. (API CN) rose the most in a month, adding 5.3 percent to C$9.21. Potash North Resources Corp. (PON CV) climbed 7.4 percent to C$4.06.

Aurelian Resources Inc. (ARU CN) rose the most since May 30, climbing 4.4 percent to C$4.49. The gold exploration company, whose project in Ecuador has been halted pending the country's new mining law, was raised to ``sector perform'' from ``sector underperform'' by Haywood Securities analyst Eric Zaunscherb.

Fording Canadian Coal Trust (FDG-U CN) climbed to a record, adding 3.3 percent C$83.42. Fording, the co-owner of world's second-largest exporter of coal used to make steel, raised its quarterly dividend fivefold to C$2.50.

Forzani Group Ltd. (FGL CN) fell the most since March 2, 2005, dropping 10 percent to C$14.80. Canada's biggest chain of sporting- goods stores reported an unexpected first-quarter loss and a decline in sales at stores open at least a year.

Nortel Networks Corp. (NT CN) gained the most in seven months, rising 14 percent to C$9.42. North America's biggest maker of phone gear plans to focus on developing a wireless technology, the so- called the Long-Term Evolution wireless standard, which is backed by AT&T Inc. and Verizon Wireless, the two biggest U.S. phone companies.

Potash One Inc. (KCL CN) extended its win streak to a seventh day, gaining 22 percent to C$4.70. The potash exploration company climbed along with other fertilizer companies on Agrium's forecast of higher profit.

Separately, Potash One was also rated ``speculative buy'' in new coverage by Russell Stanley at Jennings Capital. The Toronto- based analyst set a 12-month share-price target of C$10.

Russel Metals Inc. (RUS CN) rose the most in almost four months, gaining 6.5 percent to C$29.60, after saying analyst forecasts for the its second-quarter profit are ``understated.'' Russel Metals' profit in the three months ending June 30 is likely to be 35 percent to 45 percent more than the average analyst estimate of 78 cents a share, the Mississauga, Ontario-based company said.

Shore Gold Inc. (SGF CN) fell the most since Jan. 21, dropping 6.8 percent to C$2.90. The diamond exploration company was cut to ``underweight'' from ``market weight'' by Thomas Weisel Partners Canada Inc. analyst Matthew O'Keefe in Toronto.

Trinidad Drilling Ltd. (TDG CN) climbed the most in a month, gaining 2.4 percent to C$13.90. CIBC World Markets analyst Jeff Fetterly reinstated coverage of the oil and gas drilling company with a ``sector perform'' rating, citing expectations that the company will use some of the C$165 million that it raised in a share sale yesterday to pay down debt.

Viterra Inc. (VT CN) gained the most in 11 weeks, adding 4 percent to C$14.05. Canada's largest grain handler said second- quarter profit increased more than threefold as crop prices climbed and the company moved grain to market faster after the acquisition of competitor Agricore United.