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Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (19,170.56, up 68.23 points.) Roxgold Inc. (TSX:ROXG). Materials. Up 29 cents, or 15.1 per cent, to $2.21 on 27.9 million shares.

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:

Toronto Stock Exchange (19,170.56, up 68.23 points.)

Roxgold Inc. (TSX:ROXG). Materials. Up 29 cents, or 15.1 per cent, to $2.21 on 27.9 million shares.

Tetra Bio-Pharma Inc. (TSX:TBP). Health care. Up three cents, or 9.09 per cent, to 36 cents on 16.6 million shares.

Enbridge Inc. (TSX:ENB). Energy. Down 16 cents, or 0.35 per cent, to $46.10 on 9.2 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Up 20 cents, or 0.75 per cent, to $26.80 on 6.8 million shares.

Fortuna Silver Mines Inc. (TSX:FVI). Materials. Down $1.74, or 18.05 per cent, to $7.90 on 6.4 million shares.

Nevada Copper Corp. (TSX:NCU). Materials. Up one cent, or 5.13 per cent, to 20.5 cents on 5.7 million shares.

Companies in the news: 

Canadian Pacific Railway. (TSX:CP). Down $1.93 to $460.01. The competing bids for U.S. railway Kansas City Southern each received a boost over the weekend, further complicating the rivalry between Canada's two largest railroads. The transport regulator in the U.S. said Friday that a 2001 merger waiver granted KCS applies to Canadian Pacific Railway, saying a potential transaction between the two would not necessarily raise the same concerns and risks as other mergers. A merger between CP and KCS would result in the fewest overlapping routes compared with any other Class l railroad, said the U.S. Surface Transportation Board. Meanwhile, KCS's board of directors on Saturday unanimously determined that CN Rail's proposal of $325 per KCS share could lead to a superior proposal and agreed to open talks with the Montreal-based railway. CN's bid is valued at US$33.7 billion, compared with US$25 billion from its Calgary-based rival. The U.S. railway's decision to engage in discussions and negotiations with Montreal-based CN is warranted considering the financially superior offer, said Desjardins Capital Markets analyst Benoit Poirier.

Shaw Communications Inc. (TSX:SJR.B). Up 51 cents, or 1.5 per cent, to $35.15. BCE's unsuccessful bid for Shaw Communications Inc. has renewed speculation about which other telecom companies could be takeover targets for Bell, Rogers or Telus. BCE Inc. confirmed on the weekend that it attempted to outbid Toronto-based Rogers Communications Inc. as that company negotiated a friendly takeover of Shaw. If the Competition Bureau allows Rogers to buy Shaw and its Freedom Mobile division as proposed in March, there could be a flood of other deals, Carleton University professor Dwayne Winseck said in an interview Monday. Winseck, the director of an ownership concentration research project at Carleton, says there has been speculation for years that Telus is interested in Saskatchewan-owned SaskTel, but that doesn't rule out the possibility that Bell could also be interested. Likewise, there's been speculation that Bell and Telus — which already share parts of their wireless network with each other — could join forces in some sort of combination. Winseck said the addition of Freedom, Canada's fourth-largest wireless carrier, to Rogers's holdings would increase ownership concentration in a "very, very significant way" without reciprocal benefits for consumers.

AltaGas Ltd. (TSX:ALA). Up 53 cents, or 2.5 per cent, to $22.10. Shares in AltaGas Ltd. are on the rise after it announced it has sold its U.S. transportation and storage business for $344 million to better focus on its core energy infrastructure operations and pay down debt. AltaGas announced the deal to sell the assets to an entity owned by Six One Commodities LLC and Vega Energy Partners, Ltd., after markets closed on Friday. In a report, analyst Nate Heywood of ATB Capital Markets says the deal is positive because it allows AltaGas to reduce leverage through the divestiture of non-core assets. The company says the sale includes a number of natural gas transportation and storage contracts, including about 31 billion cubic feet of leased and managed storage capacity. It produced US$21.2 million of normalized adjusted earnings in 2020 and posted a five-year annual average of US$16.2 million. AltaGas says the deal doesn't include its 10 per cent equity stake in the Eastern U.S. Mountain Valley Pipeline or its 5.1 per cent equity stake in the Mountain Valley Pipeline Southgate expansion.

This report by The Canadian Press was first published April 26, 2021.

The Canadian Press