TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,018.65, down 21.59)
Bombardier Inc. (TSX:BBD.B). Industrials. Down 2.5 cents, or 5.49 per cent, to $0.43 on 11.31 million shares.
Battle North Gold Corp. (TSX:BNAU). Materials. Up 19 cents, or 10.86 per cent, to $1.94 on 10.54 million shares.
Northern Dynasty Minerals Ltd. (TSX:NDM). Materials. Down 34 cents, or 11.53 per cent, to $2.61 on 8.0 million shares.
Royal Bank of Canada (TSX:RY). Financials. Down $1.39, or 1.46 per cent, to $93.72 on 7.32 million shares.
Yamana Gold Inc. (TSX:YRI). Materials. Up 72 cents, or 9.29 per cent, to $8.47 on 6.24 million shares.
St. Augustine Gold and Copper (TSX:SAU). Materials. Up two cents, or 33.33 per cent, to eight cents on 5.57 million shares.
Companies in the news:
Yamana Gold Inc. (TSX:YRI). Up 72 cents to $8.47. Shares in Yamana rose Friday after the company announced a 12 per cent increase in its dividend and as gold prices rose briefly above US$1,900 per ounce for the first time since 2011. Yamana reported break-even net earnings on revenue of $303 million for the second quarter, versus net earnings of $14 million or one cent per share a year earlier. Its adjusted net earnings of $63 million or seven cents per share, compared with $20 million or two cents per share in the second quarter of 2019. That beat analyst expectations of $26 million or three cents, according to markets data firm Refinitiv. The company raised its annual dividend for the fourth time in the past year to seven cents per share. Yamana has interests in five mines including Canadian Malartic (50 per cent interest) in Quebec, the Jacobina Mine in Brazil, the El Penon and Minera Florida mines in Chile, and Cerro Moro in Argentina. On a conference call, CEO Daniel Racine said Yamana is considering raising its 2020 guidance for 890,000 gold equivalent ounces after beating its second quarter targets in gold production from Jacobina, El Penon, Minera Florida and Canadian Malartic.
Canfor Corp. (TSX:CFP). Up 46 cents to $15.74. Canfor Corp. results turned positive in the second quarter on a large reversal of a writedown in its lumber operations due to improved demand and prices towards the end of the quarter. The Vancouver-based forest products firm says it earned $60.7 million or 48 cents per share in the three months ended June 30, compared with a loss of $48.8 million or 38 cents per share a year earlier. The results included an $80.6-million recovery of previous inventory write-downs as an unexpected increase in demand in the months following a dramatic drop in U.S. housing starts in April prompted a big boost in lumber prices. Western SPF (spruce, pine, fir) prices surged 53 per cent to US$432 per million board feet by the end of June, compared with a low of US$282 per Mfbm in April. Adjusted profits reached $83.4 million or 67 cents per share, compared with a loss of $12 million or 10 cents per share in the prior year. Revenues decreased 15 per cent to $1.1 billion from $1.3 billion in the second quarter of 2019. Canfor was expected to lose 27 cents per share on $1.03 billion of revenues, according to financial markets data firm Revinitiv.
This report by The Canadian Press was first published July 23, 2020.
The Canadian Press
Note to readers: This is a corrected story. A previous version provided an incorrect number for the change in the TSX/S&P index.