TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,511.75, up 10.87 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.31 per cent, to $1.27 on 7.6 million shares.
Wallbridge Mining Company Ltd. (TSX:WM). Materials. Up 17 cents, or 22.97, to 91 cents on 5.4 million shares.
Royal Bank of Canada (TSX:RY). Financials. Up eight cents, or 0.08 per cent, to $105.78 on 4.9 million shares.
Precision Drilling Corp. (TSX:PD). Energy. Up seven cents, or 4.46 per cent, to $1.64 on 4.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 23 cents, or 0.43 per cent, to $54.33 on 4.2 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down four cents, or 0.1 per cent, to $41.51 on 3.8 million shares.
Companies in the news:
Air Canada (TSX:AC). Up 50 cents to $45.60. Air Canada is halting all direct flights to China following the federal government’s advisory to avoid non-essential travel to the mainland due to the coronavirus epidemic. The suspension is effective Thursday and slated to last until Feb. 29, Air Canada said. Canada’s largest airline runs 33 flights a week to Beijing and Shanghai. Earlier this week it began to cancel select flights as customers delayed trips and called off travel plans due to fears of the spreading epidemic.
Teck Resources Ltd. (TSX:TECK.B). Up six cents to $17.81. The CEO of Teck Resources Ltd. says it’s “anyone’s guess” as to whether the federal government will allow his company to build the proposed $20.6-billion Frontier oilsands mine in northeastern Alberta. But Don Lindsay says the lengthy process of getting a permit to build the project near Wood Buffalo National Park didn’t cost much and is worthwhile even if the Vancouver-based company ultimately decides not to go ahead with construction. On Tuesday, federal Environment Minister Jonathan Wilkinson linked approval of the mine with provincial efforts to help Canada meet its climate goals and added the government has the right to delay its decision, which is expected before the end of February.
Canadian Pacific Railway Ltd. (TSX:CP). Up $4.80 to $348.56. Canadian Pacific Railway Ltd. reported a record fourth-quarter profit as it seized on higher crude volumes and overcame a late grain harvest and other headwinds to boost profits by 22 per cent. CEO Keith Creel said global economic uncertainty slowed volumes across North America. Income from energy, chemicals and plastics shot up by one-third last quarter, with crude volumes reaching a company record at more than 36,000 carloads. It reported a fourth-quarter net income of $664 million, up from a profit of $545 million in the same period a year earlier.
Restaurant Brands International (TSX:QSR). Up 33 cents to $82.97. Tim Hortons has stopped selling Beyond Meat products in Ontario and B.C. — the last two provinces serving them after the company scaled back the plant-based offering in September. A spokeswoman for the coffee chain’s parent company, Restaurant Brands International, says there was not enough demand to keep selling Beyond Meat breakfast sandwiches in the two provinces. The company first piloted the plant-based breakfast sandwich in May, before rolling out three plant-based sandwiches nationally in June. A month later, it added two Beyond Meat burgers to menus nationwide.
CGI Inc. (TSX:GIB.A). Down $8.91 or 7.9 per cent to $104.00. CGI Inc. says its first-quarter profit fell compared with a year ago as it was hit by one-time restructuring costs and integration expenses. The technology and business consulting firm says it earned $290.2 million or $1.06 per diluted share for the quarter ended Dec. 31. That compared with a profit of $311.5 million or $1.11 per diluted share in the same period a year earlier. Revenue totalled $3.05 billion, up from $2.96 billion. CGI says its first-quarter results included $16.5 million in acquisition-related and integration costs and $28.2 million in restructuring expenses.
This report by The Canadian Press was first published Jan. 29, 2020.
The Canadian Press