TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,265.22, up 115.73 points).
B2Gold Corp. (TSX:BTO). Materials. Up 53 cents, or 11.45 per cent, to $5.16 on 13.4 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up $1.08, or 2.48 per cent, to $44.62 on 11.2 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 73 cents, or 3.13 per cent, to $24.05 on 9.9 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up 30 cents, or 4.67 per cent, to $6.72 on 8.9 million shares.
NuVista Energy Ltd. (TSX:NVA). Energy. Down 35 cents, or 13.51 per cent, to $2.24 on 7.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 15 cents, or 0.68 per cent, to $21.89 on 7.3 million shares.
Companies in the news:
SNC-Lavalin Group Inc. (TSX:SNC). Up 99 cents or 6.05 per cent to $17.35. A judge has cleared SNC-Lavalin Group Inc. to proceed with the $3.25-billion sale of a stake in Ontario’s 407 toll highway to the Canada Pension Plan Investment Board (CPPIB), paving the way for the beleaguered company to pay off hundreds of millions in debt. The ruling jumpstarted SNC-Lavalin shares, halting a week-long slide that brought the stock to 15-year lows following a year that saw the firm’s market value fall by more than two-thirds to $2.87 billion. In a decision Friday, the Ontario Superior Court greenlighted the pension board’s purchase of a 10-per-cent stake in 407 International Inc., dismissing a legal challenge from Cintra Global S.E., one of the toll roads current owners.
Finning International Inc. (TSX:FTT). Up $1.31 or 6.1 per cent to $22.93. Surprising strength in western Canadian oilsands and construction markets along with rising interest in driverless mining trucks and a tax cut in Alberta are fuelling optimism for Finning International Inc. The Vancouver-based heavy equipment dealer on Wednesday credited sales and service growth from its Caterpillar dealerships in Canada, South America, and the United Kingdom and Ireland for second-quarter net income that was 11 per cent higher than the year-earlier period.
High Liner Foods Inc. (TSX:HLF). Down $1.17 or 11.5 per cent to $9. High Liner Foods Inc. shares fell after the frozen seafood company said its net earnings plunged in the second quarter as it absorbed costs associated with a 14 per cent cut of its salaried workforce. High Liner, which reports in U.S. dollars, says it earned $946,000, compared with $2.8 million in the prior year. It attributed the decrease to higher income taxes, termination benefits associated with an organizational realignment announced in November and consulting fees. Adjusted net earnings increased 24 per cent to $4.7 million, from $3.8 million in the second quarter of 2018.
Home Capital Group Inc. (TSX:HCG). Down 14 cents to $23.37. Home Capital Group Inc. beat expectations as its earnings surged in the second quarter. The alternative mortgage lender says it earned $31.9 million or 53 cents per diluted share for the period ended June 30, up from $29.6 million or 37 cents per share a year earlier. Excluding one-time items, adjusted earnings grew 56.8 per cent to 58 cents per share, from 37 cents per share in the prior year. Net interest income rose 3.7 per cent year over year to $97.5 million from $84.1 million.
Stella-Jones Inc. (TSX:SJ). Down $2.34 or 5.85 per cent to $37.64. Stella-Jones Inc.’s second-quarter sales revenue was down slightly from a year ago but the Quebec-based manufacturer of treated wood products says it’s pleased with the results given short-term challenges that it faced. The company’s net income increased to $52.3 million or 76 cents per share in the quarter ended June 30, up from $48.1 million or 69 cents per share in the 2018 second quarter. Sales dipped to $661.8 million from $662.3 million, boosted by an $18.2 million positive impact from currency conversion.
The Canadian Press