TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,360.14, up 137.68 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 37 cents, or 2.03 per cent, to $17.82 on 15.8 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Up seven cents, or 0.11 per cent, to $63.38 on 8.48 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 15 cents, or 0.63 per cent, to $23.78 on 7.02 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Down six cents, or 0.11 per cent, to $55.32 on 5.62 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up one cent, or 1.7 per cent, to 59 cents on 5.21 million shares.
B2Gold Corp. (TSX:BTO). Materials. Up 68 cents, or 8.07 per cent, to $9.11 on 4.96 million shares.
Companies in the news:
Osisko Gold Royalties Ltd. (TSX:OR). Up 38 cents or 2.27 per cent to $17.13. The Renard diamond mine in northern Quebec is to reopen this month after being shut down in March as part of the province’s mining lockdowns in response to the COVID-19 pandemic. Minority shareholder Osisko Gold Royalties says operator Stornoway Diamonds Canada Inc. has approved a plan that includes $30 million in cost reductions over the first 16 months of operation. It adds shareholders of the company, including Diaquem Inc., Osisko, TF R&S Canada Ltd. and CDPQ Resources Inc., have agreed to inject up to $30 million ($7.5 million for Osisko) to provide financial flexibility for Stornoway in view of the current “challenging” global diamond market. Stornoway decided to extend the shutdown at Renard in April after Quebec lifted its mining prohibition because of disruptions to diamond cutting and selling caused by global travel bans, as well as the affect on retail diamond sales and prices because of the pandemic economic slowdown. The suspension impacted about 540 individuals, although nearly 50 people continued working on site to provide care and maintenance.
Calfrac Well Services Ltd. (TSX:CFW). Unchanged at 15 cents. Calfrac is postponing a vote on its recapitalization plan following an unsolicited takeover offer for the company by Texas-based Wilks Brothers LLC last week. The Calgary-based company says it will now hold a vote by its shareholders and unsecured noteholders on the management reorganization plan on Sept. 29 instead of Sept. 17. Wilks Brothers, which owns a nearly 20 per cent stake in the company and opposes the recapitalization plan, has made an offer of 18 cents per share for Calfrac. The company says its board of directors will review the takeover offer and make a formal recommendation to shareholders by Sept. 24. Calfrac’s reorganization under the Canada Business Corporations Act must be supported by two-thirds of Calfrac’s debtholders and shareholders in separate votes to proceed. It has said that its proposal has the backing of 78 per cent of the holders of senior unsecured notes.
Great Canadian Gaming Corp. (TSX:GC) Up 28 cents or 1.1 per cent to $25.77. Great Canadian Gaming says its properties in Halifax and Sydney, N.S., will reopen on Oct. 5 following a six-month closure due public health efforts to contain the COVID-19 pandemic. It says the reopening of the Casino Nova Scotia properties are part of a reopening of the province’s regulated gaming sector. Great Canadian says changes at the two casinos will include a reduction in guest capacity to about one-third of historic levels and the temporary closure of most amenities. Approximately 60 per cent of the slot machines will be available. The number of COVID cases reported in Nova Scotia remains relatively stable at 1,086 since one was added on Sept. 8. The company previously announced that it plans to reopen 12 properties in Ontario and New Brunswick on Sept. 28, but its casinos in British Columbia would remain closed.
IGM Financial Inc. (TSX:IGM). Up 43 cents or 1.35 per cent to $32.25. Jeff Carney is retiring as president and chief executive of IGM Financial and IG Wealth Management due to health reasons. Carney says that he has been diagnosed with the early stages of Alzheimer’s disease. The company says James O’Sullivan, a former group head for Canadian banking at Scotiabank, has been appointed as president and CEO of IGM Financial. O’Sullivan will also replace Carney as a director. Damon Murchison, executive vice-president, head of retail for Mackenzie Investments, has been appointed president and CEO of IG Wealth Management. The changes are effective immediately. IGM Financial is a diversified wealth and asset management company with about $173 billion in total assets under management.
This report by The Canadian Press was first published Sept. 14, 2020.
The Canadian Press