TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,415.16, down 7.52 points).
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, 2.02 per cent, to $4.86 on 9.2 million shares.
First Quantum Minerals Ltd. (TSX:FM). Materials. Up 55 cents, or 5.71 per cent, to $10.19 on 8.4 million shares.
The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 7.21 per cent, to $1.19 on 6.3 million shares.
Algonquin Power & Utilities Corp. (TSX:AQN). Energy. Down 39 cents, or 2.11 per cent, to $18.06 on 5.3 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Down $1.37, or 5.75 per cent, to $22.44 on 5 million shares.
Hexo Corp. (TSX:HEXO). Health care. Down 41 cents, or 10.9 per cent, to $3.35 on 4.9 million shares.
Companies in the news:
Tourmaline Oil Corp. (TSX:TOU). Up $1.61 or 15 per cent to $12.33. Tourmaline Oil Corp.’s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company’s stock on Friday, although its share prices remained well below their 52-week highs. Tourmaline announced Thursday after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash. Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement.
WSP Global Inc. (TSX:WSP). Up $1.32 to $77.60. WSP Global Inc. is extending its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP’s seventh acquisition this year — in an ongoing bid to overtake rival SNC-Lavalin Group Inc. The Montreal-based engineering company announced Friday it will pay an undisclosed amount for the deal through available cash and credit facilities. The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in additional annual revenue, according to analyst estimates. WSP’s 2018 net revenues were $6 billion.
MTY Food Group Inc. (TSX:MTY). Down $5.50 or 8.7 per cent to $57.75. MTY Food Group Inc. shares dropped to their lowest level in months after the restaurant franchisor reported quarterly revenue and profit that came in below analyst estimates. MTY reported earlier that profit attributable to its shareholders in the third quarter was $22.9 million or 91 cents per share for the quarter ended Aug. 31. That was up from $22.1 million or 88 cents per share in its 2018 fiscal third quarter, but short of estimates. Analysts had estimated $1.02 per share of profit and $167.9 million of revenue, according to financial markets data firm Refinitiv. MTY’s revenue rose to $163.6 million from $113.0 million while system sales generated by its restaurants were a record $1.08 billion, up 36 per cent from $789.9 million a year earlier.
This report by The Canadian Press was first published Oct. 11, 2019.
The Canadian Press