TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,805.75 , up 60.11 points.)
Kinross Gold Corp. (TSX:K). Materials. Down 80 cents, or 12.6 per cent, to $5.55 on 10.7 million shares
Manulife Financial Corp. (TSX:MFC). Financials. Up 31 cents, or 1.22 per cent, to $25.78 on 8.9 million shares.
Katanga Mining Ltd. (TSX:KAT). Materials. Down 16 cents, or 45.71 per cent, to 19 cents on 8.6 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 16 cents, or 0.33 per cent, to $48.50 on 8 million shares.
Encana Corp. (TSX:ECA). Energy. Up one cent, or 0.16 per cent, to $6.16 on 7.7 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up six cents, or 3.11 per cent, to $1.99 on 7.4 million shares.
Companies in the news:
Saputo Inc. (TSX:SAP). Up $1.79 or 4.7 per cent to $39.92. Saputo Inc.’s quarterly profit beat analyst expectations, as the company continued to face some challenges in the industry. The Montreal-based dairy processor’s net earnings totalled $174.9 million or 44 cents per share for the quarter ended Sept. 30. That’s up from $163.1 million or 42 cents per share in the same quarter the previous year. Adjusted profits climbed 14 per cent to $185.8 million or 47 cents per share, compared with $163.1 million or 42 cents per share in the second quarter of 2018. Revenue rose to $3.67 billion from $3.42 billion — a jump of 7.2 per cent.
Manulife Financial Corp. — Manulife Financial Corp. and Sun Life Financial Corp. say anti-government protests in Hong Kong have not had a large impact on their businesses there. The Canadian insurers made the comments after they both reported that they benefited from strong growth in Asia in the third-quarter. Protests in Hong Kong began in June against a now-abandoned extradition bill that would have allowed suspects to be sent for trials in mainland China, but the movement has since grown into calls for greater democracy and police accountability. Manulife Asia chief executive Anil Wadhwani said during its earnings call on Thursday that the Toronto-based insurer was “keeping a close watch on the challenging Hong Kong situation.”
Canadian Natural Resources Ltd. (TSX:CNQ). Up $2.84 or 8.3 per cent to $36.98. Shares in Canadian Natural Resources Ltd. jumped on Thursday after it reported higher oil production and financial results that beat expectations. The Calgary-based oilsands producer credited its “curtailment optimization strategy” for posting upstream output of 1.18 million barrels of oil equivalent per day in the third quarter, up 15 per cent from the second quarter and 11 per cent over a year ago, despite continuing oil production curtailments imposed by the Alberta government starting last January. Canadian Natural said it boosted bitumen production at the Albian oilsands mines it bought from Shell Canada two years ago to a record 318,000 barrels per day in September and October as production at its Horizon oilsands mine fell due to a maintenance shutdown.
Canadian Tire Corp. (TSX:CTC.A). Up $6.55 or 4.5 per cent to $150.71. Canadian Tire Corp. shares rose Thursday as the company announced it plans to cut more than $200 million in annual costs by 2022. The rise came as the company released its third-quarter financial earnings and announced an operational efficiency program that targets more than $200 million in annualized savings by 2022. The cost-cutting program’s focus areas include eliminating duplicate systems and processes, decommissioning legacy infrastructure and continuing to reduce internal and external expenses. The cost-cutting measures were announced as the company also said it would raise its quarterly dividend for the eleventh time in a decade.
Semafo Inc. (TSX:SMF). Down 17 cents or 4.9 per cent to $3.32. Montreal-based gold miner Semafo Inc. says it has suspended operations at its Boungou mine in Burkina Faso a day after at least 37 people were killed in an ambush on their way to the site. The bus convoy of company employees, contractors and suppliers, escorted by military personnel, was attacked about 40 kilometres from the Boungou mine. There was no immediate claim of responsibility for Wednesday’s ambush but the high death toll and targeting of a foreign company’s employees suggest that well-armed jihadists carried out the assault. At least 60 other people were wounded in the ambush, according to regional governor Col. Saidou Sanou.
This report by The Canadian Press was first published Nov. 7, 2019.
The Canadian Press