Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,586.52, down 82.88 points).
Cenovus Energy Inc. (TSX:CVE). Energy. Down 27 cents, or 1.93 per cent, to $13.74 on 10.3 million shares.
Encana Corp. (TSX:ECA). Energy. Down eight cents, or 0.78 per cent, to $10.16 on 7.5 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 18 cents, or 5.86 per cent, to $2.89 on 7.5 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 33 cents, or 5.6 per cent, to $5.56 on 7.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 44 cents, or 0.87 per cent, to $51.05 on 6.2 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 11 cents, or 0.9 per cent, to $12.28 on 6.2 million shares.
Hexo Corp. (TSX:HEXO). Up 25 cents or 2.7 per cent to $9.60. A group of alcohol and cannabis companies have formed an industry alliance to push for changes to proposed rules governing pot-infused beverages before edibles become legal in the coming months. The Cannabis Beverage Producers Alliance is arguing for, among other things, the ability to produce pot-based drinks in the same facilities where non-cannabis beverages are made. The additional cost of establishing separate manufacturing and processing facilities is a “significant barrier to entry,” particularly for small and mid-sized producers, said Paddy Finnegan, business unit manager for food and beverage at Lakeside Process Controls, an alliance member.
TransAlta Corp. (TSX:TA). Down four cents to $9.20. TransAlta’s chairman says a lawsuit launched by an American activist investor on Tuesday is a “frivolous tactic” and the power utility intends to defend itself vigorously. Gordon Giffin says the move by New York-based Mangrove Partners to prevent the Calgary-based company from concluding a $750-million partnership deal with Brookfield Renewable Partners won’t succeed. Giffin says the majority of TransAlta’s shareholders have already voted “overwhelmingly” in favour of its nominated board.
Cenovus Energy Inc. — The Alberta government’s oil production curtailment program will deliver billions of dollars in benefits to taxpayers this year thanks to stronger crude prices, the chief executive of Cenovus Energy Inc. said Wednesday. Alex Pourbaix said his company paid more than $190 million in provincial royalties in the three months ended March 31, but he doesn’t mind because a reduction of price discounting of western Canadian oil has more than made up for the five per cent reduction in Cenovus production the program caused.
The Canadian Press