TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,304.05, up 154.26 points).
Bombardier Inc. (TSX:BBD.B). Industrials. Up four cents, or 2.41 per cent, to $1.70 on 7.8 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Down 26 cents, or 1.07 per cent, to $24.12 on 7.1 million shares.
Encana Corp. (TSX:ECA). Energy. Up 33 cents, or 5.92 per cent, to $5.90 on 6.1 million shares.
B2Gold Corp. (TSX:BTO). Materials. Down 11 cents, or 2.33 per cent, to $4.62 on 4.8 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 11 cents, or 1.39 per cent, to $7.80 on 4.4 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down three cents, or 0.14 per cent, to $22.18 on 4.4 million shares.
Companies in the news:
CannTrust Holdings Inc. (TSX:TRST). Down 10 cents or 3.6 per cent to $2.69. The Ontario government’s cannabis wholesaler and online retailer is returning all products from CannTrust Holdings Inc. — valued at roughly $2.9-million — because they do not conform with the terms of its supply deal with the beleaguered cannabis company. CannTrust said Monday the Ontario Cannabis Store has determined that some of the products it sold to the crown corporation were “non-conforming” under the terms of its master cannabis supply agreement.
Husky Energy Inc. (TSX:HSE). Up 45 cents or 5.13 per cent to $9.22. Shares in Husky Energy Inc. increased after an RBC Dominion Securities analyst suggested its low share price makes this a good time for the company to be taken private. In a report over the weekend, analyst Greg Pardy suggests that Husky’s near-15-year-low share prices make privatization attractive for the entities controlled by Hong Kong billionaire Li Ka-Shing which own 69.5 per cent of the equity. He says going private would allow Husky to capture much of the gap between its market value and base net asset value of $19.53 per share.
Hudson’s Bay Co. (TSX:HBC). Up 71 cents or 7.57 per cent to $10.09. The Hudson’s Bay Co. insiders who want to take Canada’s oldest retailer private face a new obstacle after an investment firm snapped up about one tenth of the company’s outstanding shares. The Catalyst Capital Group Inc. announced Monday it acquired nearly 18.5 million of the retailer’s shares — about a 10.05 per cent stake in the company — for $187 million as a result of its tender offer made in late July in an effort to oppose a privatization bid led by HBC chairman Richard Baker. A Catalyst spokesperson declined to disclose how big a stake it now holds in HBC.
Transat A.T. (TSX:TRZ). Down nine cents to $16.54. The head of Quebec telecommunications giant Quebecor Inc. is dangling a potential offer for Transat A.T. if the tour operator’s shareholders or regulatory authorities block Air Canada’s $720-million offer. Pierre Karl Peladeau, who says he owns about 1.6 per cent of the outstanding shares of Air Transat’s parent company, says he plans to vote against the $18 per share offer by Canada’s largest airline, saying it is “contrary to the public interest.” Peladeau says in a news release that the deal goes against “the best interests of (Transat AT), its employees, Quebec consumers and the Quebec economy.”
The Canadian Press