TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,431.27, up 71.13 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 20 cents, or 1.12 per cent, to $17.62 on 10.2 million shares.
Canadian Natural Resources (TSX:CNQ). Down 22 cents, or 0.93 per cent, to $23.56 on 10 million shares.
Toronto-Dominion Bank. (TSX:TD). Financials. Down 17 cents, or 0.27 per cent, to $63.21 on 5.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up nine cents, or 0.22 per cent, to $40.81 on 5.9 million shares.
Algonquin Power & Utilities. (TSX:AQN). Utilities. Up 21 cents, or 1.13 per cent, to $18.77 on 4.9 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up four cents, or 0.33 per cent, to $12.26 on 4.5 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Up 62 cents or 1.2 per cent to $53.88. The chief executive of Rogers Communications says its plans for Ontario and Quebec will be decided by whether it can buy the Canadian arm of Cogeco Communications. Rogers CEO Joe Natale says his team is looking at where to invest in every province as the communications industry goes through a once-in-a-generation technology cycle. Natale won’t detail how Rogers and partner Altice USA Inc. will respond to the Audet family’s rejection of a $10.3-billion hostile offer for their controlling stake in Cogeco. But Natale says this is the right time in the industry’s evolution for Rogers to add Cogeco’s cable and internet operations to serve Canada’s two biggest provinces.
Cenovus Energy Inc. (TSX:CVE). Unchanged at $5.40. A year after construction was allowed to restart on the Trans Mountain pipeline expansion, its chief executive says the project is on budget and on schedule for completion by the end of 2022. The project is advancing as expected despite challenges including the COVID-19 pandemic, a global slump in demand for fuel, a $5.2-billion rise in its estimated cost to $12.6 billion in February and ongoing protests by opponents, said CEO Ian Anderson in an interview. The expansion project is designed to triple the capacity of the existing pipeline between Edmonton and a shipping terminal in Burnaby, B.C., to about 890,000 barrels per day of products including diluted bitumen, lighter crudes and refined fuels such as gasoline. Calgary-based Cenovus Energy Inc. used Trans Mountain this summer to collect oil from Alberta to fill an oil tanker in Burnaby and ship it through the Panama Canal to an Irving Oil refinery on the other side of the country in Saint John.
Loblaw Companies Ltd. (TSX:L). Up 40 cents to $68.66. Loblaw Companies Ltd. is spending $75 million for a minority stake in telemedicine company Maple Corp., which helps connect people with doctors and medical specialists using a smartphone or computer. The company said Tuesday the investment will be made through its Shoppers Drug Mart Inc. subsidiary. Shoppers Drug Mart president Jeff Leger said the COVID-19 pandemic has shown that Canadians need new ways, particularly virtual ways, to get access to care. Shoppers Drug Mart has already been working with Maple and its virtual care is available in more than 160 Shoppers Drug Mart locations in B.C.
Ivanhoe Mines Ltd. (TSX:IVN). Up three cents to $5.96. Vancouver-based Ivanhoe Mines Ltd. is reporting at least two people have been killed in an accident at its Platreef mine development project in South Africa. It says that preliminary information indicates that a “kibble bucket” commonly used to haul water, ore or refuse to the surface fell down Shaft 1 at the palladium-platinum-nickel-copper-rhodium-gold mine, striking the northern side of the working platform. It says two of the four employees on the platform conducting routine water-pumping activities have died, one other is missing and a fourth was injured and taken to hospital in Johannesburg. Ivanhoe indirectly owns 64 per cent of the mine through its subsidiary, Ivanplats, and is directing all mine development work.
Aimia Inc. Up 16 cents or 4.2 per cent to $3.99. Aimia Inc. propped up a slumping bottom line last quarter through its holdings in airline loyalty programs, which generated profits despite the near-collapse of the travel industry amid the COVID-19 pandemic. Net earnings fell by more than two-thirds in its second quarter as Aimia began to unfurl its new strategy as an investment holdings firm — bolstered by the proceeds of its $516-million sale of Aeroplan to Air Canada last year — after veering away from loyalty program management. Aimia’s 48.9 per cent stake in PLM, which operates Aeromexico’s Club Premier rewards program, and 20 per cent share of AirAsia’s Big Loyalty program operator Biglife amounted to $25.8 million in profit. In June, Aimia closed a deal to spin off its money-losing Loyalty Solutions business in a merger with Waterloo, Ont.-based tech company Kognitiv Corporation.
This report by The Canadian Press was first published Sept. 15, 2020.
The Canadian Press