Canadian Mining Stocks Fall Sharply

Dow Jones03-09

By Robb M. Stewart

Mining stocks led Canada's main exchange lower to start the week as metals prices continued to roll back some of their recent gains with the military conflict in Iran now into its second week.

Precious metals miners were particularly hard hit early Monday after gold future dropped more than 1%, though copper and other metals also declined. The drops came after the appointment of Mojtaba Khamenei, son of the slain Ayatollah Ali Khamenei, as Iran's new supreme leader signaled that Tehran won't back down against the U.S. and Israel.

First Quantum Minerals declined 5.6% to C$31.07 on the Toronto Stock Exchange and Hudbay Minerals sank 5.7% to C$28.56. Barrick Mining was 3.9% lower at C$59.30, and fellow gold producers Agnico Eagle Miners shed 2.8% to hit C$291.69 and B2Gold dropped 3.6% to C$6.95. Copper miner Teck Resources was down 3.8% at C$66.04.

The broad S&P TSX Composite Index was down 1.8% at 32469.25.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 09, 2026 10:14 ET (14:14 GMT)

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