TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,369.32, up 33.39 points).
Zenabis Global Inc. (TSX:ZENA). Health care. Down 19.5 cents, or 39.8 per cent, to 29.5 cents on 16.8 million shares.
Encana Corp. (TSX:ECA). Energy. Up 10 cents, or 1.88 per cent, to $5.43 on 7 million shares.
Yamana Gold Inc. (TSX:YRI). Materials. Up 13 cents, or 3.02 per cent, to $4.44 on 5.2 million shares.
B2Gold Corp. (TSX:BTO). Materials. Up seven cents, or 1.65 per cent, to $4.32 on 4.2 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up three cents, or 0.62 per cent, to $4.85 on 4.1 million shares.
Husky Energy Inc. (TSX:HSE). Energy. Down 63 cents, or 6.62 per cent, to $8.89 on 3.9 million shares.
Companies in the news:
Hexo Corp. (TSX:HEXO). Down 20 cents or 5.7 per cent to $3.31. Cannabis company Hexo Corp. is reducing its workforce by 200 jobs to adjust for expected future revenues and “ensure the long-term viability” of the firm, its chief executive said. The announcement comes two weeks after Hexo cut its net revenue forecast for the fourth quarter and withdrew its 2020 outlook, citing factors including slower-than-expected pot store rollouts and early signs of pricing pressure. Hexo, based in Gatineau, Que., had 822 employees as of April 30, according to a filing from its third-quarter financial results. Chief executive Sebastien St-Louis said it was his “hardest day” at the company.
Teck Resources Ltd. (TSX:TECK.B). Down $1.09 or 4.9 per cent to $20.95. Teck Resources Ltd. says it will cut 500 full-time equivalent jobs as it focuses on trimming $500 million from planned spending through to the end of 2020. The Vancouver-based miner said Thursday it wants to improve efficiency and productivity after reporting its third-quarter profit attributable to shareholders fell to $369 million compared with a profit of $1.28 billion in the same quarter last year. Global economic uncertainties are having a “significant negative effect” on the company’s prices for its products, particularly steelmaking coal, said CEO Don Lindsay on a conference call.
Husky Energy Inc. (TSX:HSE). — The CEO of Calgary-based Husky Energy Inc. says social media speculation that layoffs put in place the morning after the federal election this week were in reaction to political events are just “B.S.” The cuts were simply designed to align the workforce with lower capital spending plans going forward, Rob Peabody said on a conference call Thursday to discuss third-quarter financial results. Peabody refused to say how many employees were laid off, despite news reports quoting staff who said it was in the “hundreds.” He said the company will account for severance payments in the fourth quarter.
Precision Drilling Corp. (TSX:PD). Down two cents to $1.36. Precision Drilling Corp. says it lost $3.5 million in its latest quarter compared with a loss of $30.6 million in the same quarter last year as it cut expenses. The oilfield services company says the loss amounted to a penny per share for the quarter ended Sept. 30 compared with a loss of 10 cents per share a year earlier. Revenue totalled nearly $375.6 million, down from nearly $382.5 million in the same quarter last year. The company said the dip in revenue was due to lower activity in the U.S. and Canada, partially offset by higher average day rates in its U.S. and international operations and higher international activity.
This report by The Canadian Press was first published Oct. 24, 2019.
The Canadian Press