TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,639.41, down 74.41 points.)
The Toronto-Dominion Bank (TSX:TD). Financials. Up 84 cents, or 1.4 per cent, to $60.76 on 9 million shares.
B2Gold Corp. (TSX:BTO). Materials. Down 21 cents, or 2.6 per cent, to $7.86 on 8.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 24 cents, or 0.6 per cent, to $40.39 on 7.4 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 14 cents, or 0.61 per cent, to $23.05 on 7.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 15 cents, or 0.68 per cent, to $22.10 on 6.2 million shares.
Aphria Inc. (TSX:APHA). Health care. Up 52 cents, or 8.92 per cent, to $6.35 on 6 million shares.
Companies in the news:
Pieridae Energy Ltd. (TSX:PEA). Down one cent or 2.9 per cent to 33.5 cents. Pieridae Energy Ltd. says the engineering company it hired to build its proposed Goldboro LNG export facility in Nova Scotia is withdrawing from an agreement to provide a fixed price contract for the job. The Calgary-based company says it has received written notice from Kellogg Brown & Root Ltd. that it is no longer prepared to enter into a lump-sum turnkey engineering, procurement, construction and commissioning contract for the project as agreed in March 2019, although it is willing to provide the services on other terms. Pieridae CEO Alfred Sorensen says the company is considering options including legal action in response, but has already had discussions with other firms willing to replace KBR. In May, Pieridae announced a delay in making a final decision on proceeding with the project to export liquefied natural gas from Canada’s East Coast, citing technical obstacles created by COVID-19.
Intertape Polymer Group Inc. (TSX:ITP). Up 60 cents or 4.7 per cent to $13.29. Intertape Polymer Group Inc. says its second-quarter revenue was substantially above its expectations due to strong demand as customers resumed activity following their COVID closures. According to Intertape’s preliminary estimate, revenue for the three months ended June 30 was US$267 million — 6.8 per cent above the high end of its May 13 estimate. It says the result implies that its adjusted earnings will also best the top end of its estimate range. The company manufacturers a variety of products used for packaging, including tapes and films. The company had experienced a 10 per cent year-over-year decline in sales over the first part of the quarter to May 8 because of the COVID slowdown. Intertape withdrew its full-year guidance in May because of the uncertain environment, but estimated it would have between US$235 million and US$250 million of revenue in the second quarter.
Yamana Gold Inc. (TSX:YRI). Down 28 cents or 3.7 per cent to $7.21. Yamana Gold Inc. says the Canadian Malartic mine in Quebec has ramped up production more quickly than anticipated following a COVID-related shut-down. The mine, one of North America’s largest gold producers, milled more than 60,000 tonnes per day of ore in both May and June, partially offsetting the down time and ramp-up in production that began April 15 after the province allowed work to resume. Yamana estimates its total gold production for the second quarter was 164,141 ounces, including Canadian Malartic and its four South American mines. Silver production was estimated at about two million ounces. Yamana says all of the mines exceeded planned production targets in the second quarter and it continues to expect more production, improved costs and significant cash flows in the second half of 2020. The Toronto-based company has a 50 per cent ownership stake in Canadian Malartic, with the other half owned by Agnico Eagle Mines Ltd.
This report by The Canadian Press was first published July 13, 2020.
The Canadian Press