Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,063.59, down 211.39 points).
Aphria Inc. (TSX:APHA). Health care. Down $1.61, or 21.18 per cent, to $5.99 on 27.3 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 40 cents, or 5.32 per cent, to $7.12 on 9.8 million shares.
Bombardier Inc. (TSX:BBD.B). Down 14 cents, or 6.19 per cent, to $2.12 on 9.3 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 20 cents, or 4.61 per cent, to $4.14 on 5.9 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 14 cents, or 5.17 per cent, to $2.57 on 5.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 22 cents, or two per cent, to $10.77 on 5.6 million shares.
Companies reporting major news:
Aphria Inc. Uncertainty swirled around the company in the wake of a short-sellers’ report that targeted its recent Latin American acquisitions and raised questions about its operations in the region. BMO Capital Markets slashed its target price to $9 from $22 and will continue to rate the Leamington, Ont-based marijuana producer’s shares as speculative, a day after short-sellers Quintessential Capital Management and Hindenburg Research called the company a “black hole” and alleged that its recent international acquisitions totalling roughly $280-million were “largely worthless.”
Teck Resources Ltd. (TSX:TECK.B). Up 59 cents or 2.1 per cent to $28.78. Teck Resources has sold a 30 per cent stake in its Quebrada Blanca Phase 2 project as it gives the go-ahead for construction of the transformative copper mine in Chile. The Vancouver-based miner said it would sell the stake to Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. as part of a US$1.2 billion transaction that will improve the project’s economics and free up cashflow. The deal dramatically reduces Teck’s equity requirements to US$693 million to complete the project, with no cash requirement between the close of the deal and late 2020.
WestJet Airlines Ltd. (TSX:WJA). Down 47 cents or 2.3 per cent to $20.18. The airline aims to lift its lagging profits over the next four years, predicting earnings growth of 40 per cent on a per share basis between 2019 and 2022 after a turbulent year that saw profits plunge. Strong demand, more branded fares and higher ancillary fees will boost its revenue per available seat mile to between two per cent and four per cent in 2019, said CEO Ed Sims.
Bank of Montreal (TSX:BMO). Down $3.81 or 3.8 per cent to $95.19. BMO hiked its dividend to $1 a share as it reported a fourth-quarter profit that jumped 38 per cent compared with a year ago and beat analyst estimates. The bank’s latest quarterly results were driven by strong performances from its Canadian and U.S. personal and commercial banking divisions as well as its wealth management business. Canada’s fourth-largest lender reported its net income for the three months ended Oct. 31 rose to $1.7 billion or $2.57 per diluted share, up from to $1.23 billion or $1.81 in 2017.
The Canadian Press