Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,878.48, down 34.65 points)
Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 19 cents, or 2.96 per cent, to $6.22 on 35.9 million shares. Aurora announced an all-share $582 million takeover offer (worth up to $24 per share) for rival licensed marijuana producer CanniMed Therapeutics Inc. (TSX:CMED) (Up $4.50, or 29.41 per cent, to $19.80 on 1.04 million shares). CanniMed also said it is already in talks to acquire marijuana company Newstrike Resources Ltd. (TSXV:HIP), a producer endorsed by members of the Tragically Hip.
Canopy Growth Corp. (TSX:WEED). Healthcare. Down $1.50, or 7.52 per cent, to $18.46 on 8.7 million shares.
Hydro One Ltd. Instalment Receipts (TSX:H.IR). Utilities. Down 50 cents, or 1.34 per cent, to $36.90 on 5.5 million shares.
Titan Medical Inc. (TSX:TMD). Healthcare. Down 10 cents, 17.24 per cent, to 48 cents on 5.4 million shares.
Encana Corp. (TSX:ECA). Oil and gas. Down 17 cents, or 1.12 per cent, to $14.96 on 4.4 million shares.
Lundin Mining Corp. (TSX:LUN). Miner. Down 32 cents, or 3.42 per cent, to $9.05 on 4.1 million shares.
Companies reporting major news:
Cenovus Energy Inc. (TSX:CVE). Oil and gas. Down 26 cents, 1.96 per cent, to $12.99 on 3.6 million shares. New CEO Alex Pourbaix of the Calgary-based oil and gas producer says he will focus on paying down debt through asset sales as he works to regain the trust of investors.
Home Capital Group Inc. (TSX:HCG). Financial Services. Up 48 cents, or 3.34 per cent, to $14.85 on 1.2 million shares. The embattled Toronto-based mortgage lender reported third-quarter net income of $30 million (37 cents per share), about half of what it earned in the year-ago period before it was hit with allegations it misled investors. Revenue amounted to $95.4 million, down from $145 million.
Loblaw Companies Ltd. (TSX:L). Grocer. Up 11 cents, or 0.16 per cent, to $69.26 on 790,359 shares. The grocery and pharmacy giant says it has finalized a plan that will result in the closure of 22 unprofitable stores across a range of its banners and formats to be substantially completed by the end of the first quarter in 2018. The move comes as Loblaw reported third-quarter earnings attributable to common shareholders totalled $883 million ($2.24 per diluted share), which included the $432 million gain on the sale of the company’s gas station business to Brookfield Business Partners. That compared with a profit of $419 million ($1.03 per diluted share) for the same period last year. Revenue totalled $14.19 billion, up from $14.14.
Obsidian Energy Ltd. (TSX:OBE). Oil and gas. Up nine cents, 6.08 per cent, to $1.57 on 1.6 million shares. Obsidian says it has reached a US$8.5-million settlement with the U.S. Securities and Exchange Commission over fraud-related charges filed earlier this year. Under the settlement, the company neither admits nor denies the allegations, but will pay the settlement to resolve the issue stemming from when the company was called Penn West.
The Canadian Press