Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,502.75, down 77.98 points).
Sherritt International Corp. (TSX:S). Materials. Up half a cent, or 2.56 per cent, to 20 cents on 20.8 million shares.
Prometic Life Sciences Inc. (TSX:PLI). Health care. Up one cent, or 20 per cent, to six cents on 12.4 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 24 cents, or 4.65 per cent, to $4.92 on 9.9 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 2.18 per cent, to $2.34 on 9.8 million shares.
Encana Corp. (TSX:ECA). Energy. Down 29 cents, or 3.12 per cent, to $8.99 on 7.7 million shares.
Manulife Financial Corp. (TSX:MFC). Up three cents, or 0.12 per cent, to $24.70 on 7.1 million shares.
Molson Coors Brewing Co. (TSX:TPX.B). Down $3.09 or 3.6 per cent to $83.15. Molson Coors’ first-quarter profit fell partly due to lower volumes, but executives say the drop doesn’t correlate to Canada’s legalization of cannabis last October. The company will continue to monitor any possible impact but there’s no evidence of an impact based on the last five months of cannabis sales, said Frederic Landtmeters, president and CEO of Molson Coors Canada. Molson Coors president and CEO Mark Hunter added that the company is seeing a similar picture in the U.S. where cannabis is legal in some states.
Loblaw Companies Ltd. (TSX:L). Down $1.29 or 1.97 per cent to $64.34. Loblaw Companies reported “sluggish” same-store sales again in its most recent quarter, but raised its dividend for common shareholders. Loblaw reported its food retail business same-store sales grew two per cent for the first quarter ended March 23. Its drugstore same-store sales growth, which includes its Shoppers Drug Mart business, was 2.2 per cent as pharmacy same-store sales growth was 1.2 per cent and front store same-store sales growth was 3.1 per cent. The company said its profit attributable to common shareholders was $198 million, down from $377 million a year ago. Revenue totalled $10.66 billion.
Cameco Corp. (TSX:CCO). Down 14 cents to $14.64. Uranium miner Cameco says it had a $18.3 million loss in the first quarter, compared with a profit of $57.8 million a year ago. Revenue totalled $297.5 million, down from $439.4 million. On an adjusted basis, Cameco says it lost $33 million in its lost recent quarter compared with an adjusted profit of $23 million a year ago. During the quarter, Cameco sold 4.8 million pounds of uranium, down from 6.6 million pounds a year ago.
Canfor Corp. (TSX:CFP). Down 40 cents, or 2.9 per cent to $13.61. Canfor reported a loss in its most recent quarter compared with a profit a year ago as revenue fell. The forestry company says it lost $89.5 million for the three months ended March 31, down from $112.2 million in the same quarter last year. Sales for the first three months of 2019 amounted to $1.15 billion, down from $1.23 billion for the first three months of 2018. On Monday, Canfor temporarily curtailed operations at its B.C. lumber mills due to low prices and the high cost of fibre. The curtailment is expected to reduce Canfor’s production output by approximately 100 million board feet.
CGI Inc. (TSX:GIB.A). Down 35 cents to $96.08. CGI Inc. reported a second-quarter profit of $318.3 million, up from $274.4 million a year earlier, as revenue improved. The technology consulting firm says revenue totalled $3.07 billion, up from $2.95 billion in the same quarter last year. Excluding specific items, CGI says it earned $324.5 million, compared with a profit of $303.2 million a year earlier.
The Canadian Press