TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,474.65, up 107.96 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 38 cents, or 0.81 per cent, to $46.82 on 17.1 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 27 cents, or 2.78 per cent, to $10 on 8.7 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up 67 cents, or 1.61 per cent, to $42.34 on 7.8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 50 cents, or 1.91 per cent, to $25.68 on 7.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 95 cents, or 3.38 per cent, to $29.07 on 7.5 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up $1.37, or 4.71 per cent, to $30.49 on 6.3 million shares.
Companies in the news:
Centerra Gold Inc. (TSX:CG). Up two cents to $8.66. Canadian miner Centerra Gold Inc. says the Kyrgyz Republic is moving to install external management at its Kumtor gold mine in the Central Asian country after "effectively seizing control" of the operation over the weekend. In a news release, it warns of the potential for a material impact or loss of its entire investment in the mine, which produced 90,169 ounces of gold in the first quarter. Centerra says it is no longer in control of the gold mine and can no longer ensure the safety of the mine’s employees or operations, though all key safety, monitoring and operational systems at the mine were functioning properly before control was lost. It says it has suspended the access of all local Kumtor Gold Co. employees in the Kyrgyz Republic to its global IT systems to prevent any unauthorized intrusions. Ongoing disagreements with the Kyrgyz government resulted in Centerra reporting a series of developments last week that it said were part of a concerted effort to coerce it to give up economic value or ownership of the Kumtor mine or to falsely justify a nationalization of the mine.
Whitecap Resources Inc. (TSX:WCP). Up 33 cents or 5.9 per cent to $5.94. Shares in oilpatch consolidator Whitecap Resources Inc. are on the rise after it closed its acquisition of Kicking Horse Oil & Gas earlier than expected and raised its dividend by eight per cent. The Calgary-based company says outstanding production from recently acquired and existing assets, along with strong oil prices, will allow it to increase its monthly dividend from 1.508 to 1.625 cents per share, equal to 19.5 cents per share per year. It announced in early April it would buy private Kicking Horse for 34.5 million Whitecap common shares, $56 million in cash and assumed debt, with the deal expected to close by the end of May. During the first quarter of 2021, it completed the all-shares purchase of Calgary rivals NAL Resources Ltd. and TORC Oil & Gas Ltd. Whitecap says it expects to generate more than $200 million to pay down debt in the first half of 2021 after setting aside funds for its capital program and dividends, thanks to benchmark U.S. oil prices that are trending higher than its US$60-per-barrel forecast.
Hexo Corp. (TSX:HEXO). Down 12 cents or 1.6 per cent to $7.27. Hexo Corp. will try to boost its market share with a $50-million deal to buy 48North Cannabis Corp. Ottawa-based Hexo said Monday that purchasing Toronto-based 48North will bring the company closer to its goal of achieving a top-two position in Canada for adult-use cannabis sales. Within one year of closing, CEO Sebastien St-Louis estimates the deal could generate up to $12 million worth of accretive synergies through reductions, additional capacity utilization at Hexo's Belleville facility and selling, general and administrative savings. St-Louis also believes the deal will help Hexo edge closer to reporting positive earnings and position the company to keep growing domestically and internationally. Like many other Canadian cannabis companies, acquisitions have become a cornerstone in Hexo's growth plan. It announced it would buy pot company Zenabis Global Inc. for $235 million in February. 48North announced in March that it would lay off about 20 per cent of its staff and end outdoor cultivation at an Ontario facility.
This report by The Canadian Press was first published May 17, 2021.
The Canadian Press
