TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,617.48, down 9.16 points)
Northern Dynasty Minerals Ltd. (TSX:NDM). Materials. Down 42 cents, or 35.29 per cent, to 77 cents on 11.42 million shares.
Nevada Copper Corp. (TSX:NCU). Materials. Down 0.5 cents, or 3.85 per cent, to 12.5 cents on 7.85 million shares.
Manulife Financial Corp. (TSX:MFC). Financial Services. Down nine cents, or 0.45 per cent, to $19.88 on 6.47 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 12 cents, or 0.45 per cent, to $26.79 on 4.7 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 32 cents or 0.74 per cent, to $43.04 on 4.7 million shares.
Air Canada (TSX:AC). Industrials. Down 29 cents, or 1.71 per cent, to $16.68 on 4.66 million shares.
Companies in the news:
Bank of Nova Scotia. (TSX:BNS). Down 38 cents, or 0.67 per cent, to $56.10. The Bank of Nova Scotia’s profit was weighed down in its latest quarter by mounting provisions for bad loans and its Latin American operations. The Toronto-based bank revealed Tuesday that its third-quarter profit slipped to $1.3 billion from $1.98 billion a year ago, while its provisions for credit losses totalled $2.18 billion for the quarter, up from $1.85 billion last quarter and $713 million in the year prior. “We know that structural damage has been done to the economy. It’s going to require a lot of quarters of clean up from here, but we do view this quarter’s PCL as our high-water mark,” Daniel Moore, the bank’s chief risk officer, said during a conference call with financial analysts.
Bank of Montreal (TSX:BMO). Up $4.38 cents, or 5.7 per cent, to $81.23. BMO Financial Group put aside a hefty amount of money again to protect itself from bad loans even as it posted a $1.23-billion profit in its latest quarter. The Toronto-based bank said Tuesday that provisions for credit losses amounted to $1.05 billion in its third quarter, up from $306 million last year and down from $1.11 billion last quarter. Patrick Cronin, the bank’s chief risk officer, attributed the high provisions to the COVID-19 pandemic, but said he has confidence in the bank’s ability to operate in such an environment.
This report by The Canadian Press was first published Aug. 25, 2020.
The Canadian Press