TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,867.20, down 32.49 points).
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 18 cents, or 0.49 per cent, to $36.63 on seven million shares.
Nemaska Lithium Inc. (TSX:NMX). Materials. Down 3.5 cents, or 12.5 per cent, to 24.5 cents on 6.8 million shares.
First Quantum Minerals Ltd. (TSX:FM). Materials. Down $1.18, or 9.66 per cent, to $11.03 on 6.5 million shares.
Encana Corp. (TSX:ECA). Energy. Up 15 cents, or 2.3 per cent, to $6.68 on 6.1 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up 22 cents, or 3.2 per cent, to $7.10 on 5.8 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up five cents, or 0.75 per cent, to $6.72 on 5.3 million shares.
Companies in the news:
Transat Inc. (TSX:TRZ). Down six cents to $15.13. Transat Inc. could face fallout from the collapse of Thomas Cook Group Plc after a partnership between the companies died Monday. The tour operator, which runs Air Transat, was in the second year of a seven-year deal to exchange aircraft with the British company’s airline on a seasonal basis. The Montreal-based Transat was slated to receive at least seven jetliners from Thomas Cook this fall, but “the partnership is dead because the company no longer exists,” spokesman Christophe Hennebelle said. He said Transat, which is working to complete its takeover by Air Canada next year, is “confident” the Airbus A321 planes will still come through, but is making contingency plans.
First Quantum Minerals Ltd. — First Quantum Minerals Ltd. says it’s in talks regarding a potential sale of a minority interest in its Zambian copper assets. However, the Canadian miner says it has not held any talks regarding a takeover of the company. The comments follow speculation last week about a possible bid for the company by Chinese mining company Jiangxi Copper Corp. Ltd. Shares in the company rose late last week following reports citing unidentified sources regarding takeover interest in the company. However, First Quantum says it has not engaged in any discussions regarding a takeover bid or other change of control transaction and has no knowledge of potential takeover bids.
Osisko Gold Royalties Ltd. (TSX:OR). Down $1.62 or 9.96 per cent to $14.64. Shares in Osisko Gold Royalties Ltd. fell Monday after it announced a deal to buy the shares of Barkerville Gold Mines Ltd. it doesn’t already own. Osisko, which has a 32.6 per cent stake in Barkerville, says the deal will give it a larger role in advancing and developing Barkerville’s Cariboo gold project in British Columbia. The Montreal-based mining company also announced it was creating the North Spirit Discovery Group to privatize and surface value in resource development projects. Osisko shares slipped to as little as $14.59 from Friday’s close of $16.26 after it announced it would issue 0.0357 of a common share of Osisko for each Barkerville share.
Canadian Utilities Ltd. (TSX:CU). Down 13 cents to $38.79. Canadian Utilities Ltd. says seven Indigenous communities have accepted its invitation to take a 40 per cent interest in a power transmission line between Edmonton and Fort McMurray in northern Alberta. The Calgary-based utility company and its partner Quanta Services Inc. announced in June they had signed a deal to sell Alberta PowerLine for about $300 million and the assumption of $1.4 billion of debt to a consortium including TD Greystone Asset Management. As part of the sale, Indigenous communities along the transmission line route were given the chance to buy up to a 40 per cent combined equity interest, with the final ownership mix based on acceptance.
DHX Media Ltd. (TSX:DHX). Up 18 cents or 11 per cent to $1.81. DHX Media Ltd. is changing its corporate name to WildBrain, the name of its child-focused YouTube business, which will be renamed WildBrain Spark. DHX chief executive Eric Ellenbogen, the former head of Marvel Enterprises, also announced there will be a reorganization of the business to have a more simplified structure as it works to grow its audience while managing a large corporate debt. Ellenbogen, who was named chief executive at DHX last month, said that it’s not news that the company has faced “some considerable challenges” in recent years, but the changes Monday and others ahead will “set the stage for a path forward.”
This report by The Canadian Press was first published Sept. 23, 2019.
The Canadian Press