Toron Inc. (OTCMKTS:TRON) shares were down 16.67% on Friday to $0.00300 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.01. The company has a market cap of $1.42 million at 343.59 million shares outstanding.
Toron Inc is a company that is engaged in the acquisition of mineral exploration properties. It was founded in January 2008 and is based in Kenya. Its projects are focused on gold and other valuable metals.
The company manages about $1.68 billion and has decreased its stake in Suncor Energy, an announcement that was met with a sharp drop. Based on the Q2 regulatory filing of Toron Inc, the company reduced its holdings of Suncor by 4.88% by selling 170,330 shares. The company held 3.32 million shares of Suncor Energy, which is an integrated energy company with a market cap of $46 billion, at the end the second quarter of 2016. Even so, Suncor shares have been up more than 20% since February and has outperformed the S&P by nearly 8%.
The rest of the portfolio of Toron Inc is composed of holdings of companies such as Credicorp Ltd and Rogers Communications, both of which saw an increase in stake. According to the same filing, the company upped its holding of Credicorp Ltd by 42,673 shares to 126,564 shares, valued at $16.58 million at the end of Q2 2016. Also, the company increased its holdings of Rogers Communications by 125,808 shares in the quarter for a total of 1.38 million shares. Apart from that, Toron Inc also upped its stake of Shaw Communications, suggesting that the company is shifting its focus towards internet, communications, and technologies, effectively diversifying away from precious metals.
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