TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,199.25, up 14.71 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up 45 cents, or 2.9 per cent, to $15.95 on 10.4 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at 34 cents on 6.3 million shares.
Canadian Natural Resources (TSX:CNQ). Up 19 cents, or 0.92 per cent, to $20.80 on 6.2 million shares.
NextSource Materials Inc. (TSX:NEXT). Materials. Unchanged at five cents on 5.7 million shares.
Toronto-Dominion Bank. (TSX:TD). Financials. Up 71 cents, or 1.15 per cent, to $62.50 on 5.6 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up 70 cents, or 1.26 per cent, to $56.09 on 5.3 million shares.
Companies in the news:
Canadian National Railway Co. (TSX:CNR). Up 55 cents to $141.93. Canada’s two main railways notched another record-setting quarter for grain shipments, benefiting from strong global demand, a bumper crop, efficient cars and more capacity due to smaller hauls of other products amid the COVID-19 pandemic. CN Rail said it moved 7.76 million tonnes of grain in the third quarter and 2.81 million in September alone, both new records for the time periods that amount to seven straight months of unprecedented volume. Canadian Pacific Railway Ltd. reported moving 7.72 million tonnes in the quarter ended Sept. 30, 11 per cent more than its previous third-quarter record of 6.97 million tonnes set in 2014 as it marked the fourth consecutive quarter of record grain volumes.
Suncor Energy Inc. — Oil and gas giant Suncor Energy Inc. says it will eliminate as many as 1,930 jobs over the next 18 months as a result of cost-cutting to deal with low oil prices and market volatility. CEO Mark Little told employees on a conference call Friday morning the company will aim to reduce total staff by 10 to 15 per cent over the next 18 months, starting with a five per cent cut over the next six months, spokeswoman Sneh Seetal said. The Calgary-based company had 12,889 staff at the end of 2019. Five per cent would equate to 644 positions and 15 per cent would equal 1,933. The cuts are to be made across the entire organization, Seetal said, and will also affect Suncor’s ranks of contracted workers, although she was unable to give those numbers.
Aurora Cannabis Inc. (TSX:ACB). Down 13 cents or 2.1 per cent to $6.09. Aurora Cannabis Inc. handed out millions in compensation and salary increases to executives as the company was laying off more than 1,000 workers and reporting billions in losses. The Edmonton-based cannabis company’s management proxy circular released this week ahead of the company’s annual meeting in November shows all six of its named executive officers — a company’s most highly compensated and prominent workers — took home larger salaries or saw a spike in share- or option-based awards and other incentive plans. For some, the increases for the fiscal year ended June 30 doubled the value of the compensation they received the year prior and tripled what they received a few years ago.
Painted Pony Energy Ltd. (TSX:PONY). Unchanged at 69 cents. Shareholders in Calgary-based Painted Pony Energy Ltd. have approved its sale to much larger Canadian Natural Resources Ltd. for 69 cents per share. The company says more than 86 per cent of its shares were voted in favour of the friendly takeover deal announced in August through which Canadian Natural will pay $111 million in cash and assume $350 million in debt. The buyer, best known for its heavy oil and oilsands production, has said the purchase will allow it to grow its position in the liquids-rich Montney natural gas region of northeastern B.C.
This report by The Canadian Press was first published Oct. 2, 2020.
The Canadian Press