Norbord, Tourmaline Oil shares reach 52-week high

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| March 13, 2013

 Norbord Inc. (TSX: T.NBD, Stock Forum) briefly hit $36.27 on Wednesday before closing at $36.11, for an increase of 2.27%.

On Feb. 1, the international producer of wood-based panels announced a notice of intention to conduct a normal course issuer bid whereby Norbord would purchase up to 2,198,341 of its common shares, representing approximately 5% of the company's issued and outstanding common shares of 43,966,827 as of Jan. 22, 2013. 

The second company to make the 52-week-high list was Tourmaline Oil Corp. (TSX: T.TOU, Stock Forum). The stock hit a new peak of $38.15, before closing at $37.93, for an increase of 1.85%.

On March 12, the intermediate crude oil and natural gas exploration and production company closed its public offering of 5,750,000 common shares at a price of $34.25 per share, which includes 750,000 common shares issued pursuant to the exercise in full of the over-allotment option, and 750,000 flow-through shares at a price of $42.15 per share for gross proceeds of approximately $228.6 million. 

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