TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,909.38, up 26.55 points.)
Enbridge Inc. (TSX:ENB). Energy. Up 73 cents, or 1.46 per cent, to $50.67 on 12.4 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 31 cents, or 1.19 per cent, to $26.38 on 12.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials, Down 13 cents, or 6.28 per cent, to $1.94 on 6.9 million shares.
Encana Corp. (TSX:ECA). Energy. Down 12 cents, or 1.97 per cent, to $5.97 on 6.9 million shares.
PrairieSky Royalty Ltd. (TSX:PSK). Energy. Down 19 cents, or 1.4 per cent, to $13.41 on 6.9 million shares.
Organigram Holdings Inc. (TSX:OGI). Health care. Down 89 cents, or 19.96 per cent, to $3.57 on 6 million shares.
Companies in the news:
Imperial Oil Ltd. (TSX:IMO). Down $1.18 or 3.3 per cent to $34.24. Imperial Oil Ltd. is “scurrying” to quickly ramp up crude-by-rail shipments from its Edmonton terminal to take advantage of improved profitability caused by the Keystone pipeline spill in North Dakota, CEO Rich Kruger said Tuesday. But the company has little interest in buying $3.7 billion in rail contracts the provincial government is trying to unload because the market is too volatile to count on for the longer term, Kruger told reporters after Imperial’s investor day in Toronto.
Recipe Unlimited Corp. (TSX:RECP). Down $2.03 or nine per cent to $20.46. Shares of Recipe Unlimited Corp., the company behind Swiss Chalet, St. Hubert and the Keg, sank to a record low Tuesday after it reported “disappointing” results that saw its sales and profits slip in the third quarter. The Vaughan, Ont.-based company saw total system sales fall by $10.7 million to $869.1 million for the third-quarter ended Sept. 29, from $879.8 million in the same quarter the previous year. Same-restaurant sales, a key retail metric, fell 3.1 per cent in the quarter. Recipe’s net earnings fell to $6.7 million for the quarter, compared with $23.8 million in the third quarter the previous year. Adjusted net earnings came in at $19.5 million or 31 cents per diluted share, equal to forecasts according to financial markets data firm Refinitiv.
Ensign Energy Services Inc. (TSX:ESI). Down 38 cents or 14.2 per cent to $2.30. Shares in Ensign Energy Services Inc. fell after it cut its dividend in half due to what it said was prevailing industry conditions as it reported a third-quarter loss of $37.8 million. The share drop came after the oilfield services company said it will pay a quarterly dividend of six cents per share, down from 12 cents, to allow it “pursue alternative uses of available cash.” The company also ended its dividend reinvestment plan. The reduced payment to shareholders came as the company said its loss in its latest quarter amounted to 24 cents per share compared with a loss of $32.8 million or 21 cents per share in the same quarter last year. Revenue in the quarter totalled $393.5 million, up from $288.7 million in the third quarter of 2018.
Organigram Holdings Inc. — Shares in Organigram Holdings Inc. fell in early trading after the cannabis company said its fourth-quarter net revenue is expected to be lower than what the company saw in its third quarter. The cannabis producer says it expects net revenue for the quarter ended Aug. 31 to amount to $16.3 million, including $20.0 million of shipments in the quarter and about $3.7 million in provisions for product returns and pricing adjustments. That compared with net revenue of $24.8 million in the third quarter. Net revenue for the company’s full financial year is expected to be $80.4 million.
Cronos Group Inc. (TSX:CRON). Down 29 cents or 2.7 per cent to $10.40. Cannabis company Cronos Group Inc. reported a profit in its third quarter, boosted by a large gain in derivative liabilities, as revenue grew to $12.7 million. The company says its net profit amounted to $788 million or 53 cents per diluted share for the quarter ended Sept. 30. That compared with a loss of $7.3 million or four cents per share in the same quarter last year. Cronos says its adjusted earnings before interest, taxes, depreciation and amortization amounted to a loss of $23.9 million in its most recent quarter compared with a loss of $3.2 million a year ago. Revenue was up from $3.8 million in the same quarter last year and up from $10.2 million in the second quarter of 2019.
This report by The Canadian Press was first published Nov. 12, 2019.
The Canadian Press