TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,484.77, up 69.60 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down 57 cents, or 31.84 per cent, to $1.22 on 60.3 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 10 cents, or 3.72 per cent, to $2.79 on 19.2 million shares.
Hexo Corp. (TSX:HEXO). Health care. Down 10 cents, or 4.15 per cent, to $2.31 on 7 million shares.
Encana Corp. (TSX:ECA). Energy. Up three cents, or 0.54 per cent, to $5.56 on 6.7 million shares.
Organigram Holdings Inc. (TSX:OGI). Health care. Up 36 cents, or 8.89 per cent, to $4.41 on 6.7 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down 1.5 cents, or 8.57 per cent, to 16 cents on 5.9 million shares.
Companies in the news:
Bombardier Inc. — The future of Bombardier Inc. is being called into question after the company said it was actively considering alternatives to reduce its staggering debt. After exiting the commercial aircraft business, selling its aerostructures unit and unloading a large tract of land in Toronto, the company said it is working to reduce debt and “solve its capital structure.” Bombardier’s shares plunged more than 30 per cent to their lowest level in nearly four years following its release which pointed to a possible withdrawal from a partnership with Airbus in the commercial aircraft previously called the C Series.
Magna International Inc. (TSX:MG). Up $1.22 or 1.7 per cent to $70.64. Magna International Inc. is scaling back its partnership with Lyft Inc. to co-develop self-driving technology as it focuses research and development spending on more near-term prospects. It was only about two years ago that the Aurora, Ont.,-based auto parts giant struck an ambitious partnership with ride-hailing firm Lyft to develop and manufacture self-driving systems at scale. The partnership was proposed as a way to merge Magna’s automotive expertise with Lyft’s data-gathering and real-world testing to roll out technology that they said was expected to be market-ready over the “next few years” as self-driving ambitions in the industry grew.
Canadian Tire Corp. Ltd. (TSX:CTC.A). Up $1.48 to $144.79. Canadian Tire Corp. Ltd. is promoting Gregory Craig to the job of chief financial officer, replacing Dean McCann, who is retiring. Craig is president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank. He takes over the new job on March 2. McCann will continue as a director of Canadian Tire Bank and a trustee of CT REIT. The company also announced that Mahes Wickramasinghe will become president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank.
Barrick Gold Corp. (TSX:ABX). Up 22 cents to $23.60. Barrick Gold Corp. says its gold production for 2019 is expected to come in near the top end of its guidance, while copper production is forecast to be more than its earlier expectations. The gold miner says preliminary results indicate it produced 5.5 million ounces of gold last year compared with its guidance for between 5.1 million and 5.6 million ounces. Preliminary copper production results indicate it produced a total of 432 million pounds compared with guidance for between 375 million and 430 million pounds. Barrick says preliminary fourth-quarter results show sales of 1.413 million ounces of gold and 91 million pounds of copper, as well as fourth quarter production of 1.439 million ounces of gold and 117 million pounds of copper.
This report by The Canadian Press was first published Jan. 16, 2020.
The Canadian Press