Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,297.46, down 49.20 points).
Turquoise Hill Resources Ltd. (TSX:TRQ). Materials. Up four cents, or 2.63 per cent, to $1.56 on 58.4 million shares.
ARC Resources Ltd. (TSX:ARX). Materials, Down 14 cents, or 1.76 per cent, to $7.83 on 23.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at $2.07 on 17.7 million shares.
Seven Generations Energy Ltd. (TSX:VII). Energy. Down two cents, or 0.26 per cent, to $7.80 on 17.3 million shares.
Kirkland Lake Gold Ltd. (TSX:KL). Materials. Up 26 cents, or 0.61 per cent, to $43.18 on 14.1 million shares.
Nemaska Lithium Inc. (TSX:NMX). Materials. Down 2.5 cents, or 8.2 per cent, to 28 cents on 12.6 million shares.
The Bank of Nova Scotia (TSX:BNS). Down 42 cents to $70.15. The Bank of Nova Scotia earned $2.26 billion in the second quarter, up from $2.18 billion a year earlier, helped by earnings from its international footprint, but fell short of expectations as loan loss provisions jumped. Adjusting for items such as costs related to various acquisitions in recent months, Scotiabank’s adjusted earnings per diluted share fell one penny to $1.70, short of the $1.74 expected by analysts, according to Thomson Reuters Eikon. The bank’s provisions for credit losses, or money set aside for bad loans, amounted to $873 million during the quarter, up from $534 million a year earlier.
TC Energy Corp. (TSX:TRP). Up 98 cents to $66.66. The company formerly known as TransCanada has signed a deal to sell an 85 per cent stake in its Northern Courier Pipeline to Alberta Investment Management Corp. for roughly $1.15 billion. TC Energy says the 90 kilometre pipeline transports bitumen and diluent between the Fort Hills mine site in northern Alberta and Suncor Energy’s terminal north of Fort McMurray, Alta. TC Energy will retain a 15 per cent stake and remain the operator of the pipeline. The transaction is expected to close in the third quarter.
Husky Energy Inc. (TSX:HSE). Down five cents to $12.56. Husky Energy is slowing its capital spending on western Canadian projects over the next five years to allow downstream capacity to catch up with oil production as pipeline constraints continue to impede the industry’s ability to get oil out of Canada. Average annual capital spending will fall to $3.15 billion under a new five-year plan unveiled Tuesday, down 10 per cent from about $3.5 billion per year under its 2018-22 plan released a year ago. Despite a $1.7-billion total capital investment reduction over the five-year period, Husky expects free cash flow before dividends to add up to a total of $8.7 billion based on a flat US$60 West Texas Intermediate price.
Nutrien Ltd. (TSX:NTR). Down 35 cents to $64.62. Nutrien Ltd. is raising its quarterly dividend by 4.7 per cent starting with its payment to shareholders of record at the end of the third quarter. The company says it will pay a quarterly dividend of 45 cents US per share, up from 43 cents per share. After the increase, the stock will have an annual yield of about 3.7 per cent, based on the company’s share price on Monday. The increase does not apply to the company’s dividend payable July 18, to shareholders of record on June 28.
NFI Group Inc. (TSX:NFI). Up $1.15 or 3.5 per cent to $33.82. The Bus manufacturer has acquired Alexander Dennis Ltd., a British maker of busses, for 320 million pounds or roughly $546 million. Winnipeg-based NFI called the deal is a transformational acquisition. The company formerly known as New Flyer Industries says the deal complements its product offerings, diversifies its business and creates a platform for international growth. ADL has over 31,000 vehicles in service in Britain, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada and the United States under the Alexander Dennis and Plaxton brands.
The Canadian Press