TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,848.36, up 27.19 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.2 per cent, to $1.65 on 17.7 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 10 cents, or 5.1 per cent, to $2.06 on 11.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 28 cents, or 0.5 per cent, to $56.03 on 9.3 million shares.
Hexo Corp. (TSX:HEXO). Health care. Up 32 cents, or 19.05 per cent, to $2 on 7.5 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up $1, or 3.98 per cent, to $26.12 on 7.4 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down two cents, or 1.36 per cent, to $1.45 on 7 million shares.
Companies in the news:
MTY Food Group Inc. (TSX:MTY). Down $5.05 or 8.45 per cent to $54.68. Quebec-based fast food restaurant chain MTY Food Group Inc. is delaying the release of its quarterly results citing allegations made by a whistleblower employee. The owner of brands such as Thai Express, Tiki-Ming, Tutti Frutti and Valentine said in a statement that the allegations, which have not been publicly disclosed, were “baseless and frivolous.” MTY was expected to release its fourth quarter results on Tuesday. A new release date wasn’t provided but the company says it expects its financial performance will be released by the regulatory deadline of Feb. 28.
Enbridge Inc. — Calgary-based Enbridge Inc. is raising its bets on the growing liquefied natural gas export sector on the U.S. Gulf Coast by buying the pipeline that would supply the proposed Rio Grande LNG export facility. Enbridge says it has agreed to pay US$15 million to NextDecade Corp. to buy the pipeline project, with an additional amount not to exceed US$10 million paid if NextDecade decides to go ahead with the LNG terminal in the Port of Brownsville, Texas. Enbridge would be responsible for building and operating the US$1.2-billion pipeline, which has regulatory approval and capacity of up to 4.5 billion cubic feet per day of gas.
Canopy Growth Corp. (TSX:WEED). Up $4.10 or 15.8 per cent to $29.98. Canopy Growth Corp. is planning further cost cutting as it works to achieve positive cash flow and profitability, the cannabis producer’s new chief executive said Friday as it reported a $124.17-million loss in its third quarter of 2020. David Klein, who formally became Canopy’s CEO in January, said the Ontario-based company has a “lot of work to do” but also has the financial resources to make careful choices. Klein, who had previously been chief financial officer at Constellation Brands, Canopy’s largest shareholder, told analysts that “we have to align our resources and investments with the size and growth rate of the market as it exists today.”
Canopy Rivers Inc. (TSX:RIV). Down five cents or 4.2 per cent to $1.14. Canopy Rivers Inc. says it swung to a loss in its third quarter of 2020 and has withdrawn its full-year guidance over multiple headwinds in the cannabis industry. The venture capital arm of Canopy Growth says it had a net loss of $2.7 million, or one cent per share, for the three months ending Dec. 31, compared with a net income of $1.4 million, or one cent per share, a year earlier. Analysts had expected a net loss of two cents per share, according to financial markets data firm Refinitiv. Canopy Rivers says it has withdrawn its full year guidance because uncertainty created in the industry from unanticipated licensing delays, “reformed views” on the ramp-up time for large-scale cannabis greenhouses, and a general decline in wholesale cannabis prices.
This report by The Canadian Press was first published Feb. 14, 2020.
The Canadian Press