TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,282.83, down 15.34 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Up $4.57, or 55.87 per cent, to $12.75 on 48.4 million shares.
Hexo Corp. (TSX:HEXO). Health care. Up 20 cents, or 21.05 per cent, to $1.15 on 22.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down $1.30, or 3.5 per cent, to $35.82 on 18.11 million shares.
Aphria Inc. (TSX:APHA). Health care. Up three cents, or 0.42 per cent, to $7.16 on 16.5 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Up 1.5 cents, or 25 per cent, to 7.5 cents on 12.3 million shares.
The Green Organic Dutchman Holdings (TSX:TGOD). Health care, Up 5.5 cents, or 22 per cent, to 30.5 cents on 10.6 million shares.
Companies in the news:
Trican Well Service Ltd. (TSX:TCW). Up six cents or 5.1 per cent to $1.24. Trican Well Service Ltd. says a slow recovery in oilfield activity has allowed it to bring back about 200 of the 800 employees it laid off last March and April but 350 temporary layoffs have been made permanent due to forecasts of a continued business slump. On a conference call Friday, chief financial officer Rob Skilnick said the reductions earlier this year were made due to a near-halt in oilfield activity as the COVID-19 pandemic sapped global demand for oil, causing prices to fall. Trican’s revenue recovered to $74 million in the three months ended Sept. 30 from $28 million in the previous quarter, but remained well short of the $130 million in the third quarter of 2019. The company reported a third-quarter net loss of $26 million or 10 cents a share, missing analyst expectations of $21 million or eight cents, according to financial data firm Refinitiv.
Magna International Inc. (TSX:MG). Up $2.80 or 3.9 per cent to $74.96. Magna International chief executive Don Walker said sustainability, as well as diversity and inclusion, are priorities for car manufacturers that are looking to work with the auto parts maker. Despite the COVID-19 downturn, which has slowed auto manufacturing this year, executives at the auto parts maker said it is well-positioned and looking toward growing markets, including China, startups and electric vehicles. Magna has an advantage, said president and incoming CEO Seetarama Kotagiri, because it can work with electric vehicles that have both front-wheel and all-wheel drive. However, Magna said Friday that it was writing down a US$337-million investment in Chinese transmission company Getrag (Jiangxi) Transmission Co. Magna earned US$405 million profit on sales of US$9.13 billion in the third quarter, returning to profitability after losing money last summer.
Hydro One Ltd. (TSX:H). Up 25 cents to $29.65. Hydro One Ltd. reported its latest quarterly revenue and profit were up compared with a year ago as a hot summer helped bolster electricity demand. The power utility says its net income surged 17 per cent to $281 million or 47 cents per share in the three months ended Sept. 30, up from $241 million or 40 cents per share a year earlier. Revenue reached $1.9 billion, up nearly 20 per cent from $1.6 billion in the third quarter of 2019 due to higher peak demand and distribution revenues from rate hikes approved by the Ontario Energy Board and stronger consumption. Purchased power rose 34.7 per cent to $993 million while revenue net of purchase was up 6.3 per cent to $910 million. Hydro One chief financial officer Christopher Felix Lopez said the main driver of higher earnings was warmer weather that increased peak demand and increased energy consumption.
Enbridge Inc. (TSX:ENB). Down $1.30 or 3.5 per cent to $35.82. Enbridge Inc., the operator of the largest crude oil pipeline network in North America, says it will reduce its greenhouse gas emissions intensity to net zero by 2050. The Calgary-based company’s pledge on Friday puts it in a growing club of parties making the 2050 pledge that includes the Canadian government, Vancouver-based miner Teck Resources Ltd., oilsands producer Cenovus Energy Inc. and international oil companies like Repsol, to name a few. Enbridge is also aiming to reduce emission intensity by 35 per cent by 2030 compared with 2018. The announcement was greeted with skepticism by Keith Stewart, senior energy strategist for Greenpeace Canada, who suggested it is little more than “marketing.”
Dorel Industries Inc. (TSX:DII.B). Down 26 cents or 1.7 per cent to $15.43. Dorel Industries Inc. says it couldn’t keep up with demand for bicycles and some home furniture during the summer as the quarter’s revenue still rose 9.9 per cent from last year. The Montreal-based company, which reports in U.S. currency, said revenue for the three months ended Sept. 30 was US$753.4 million, up from US$685.7 million a year earlier. Net income was $26.2 million or 80 cents per share, compared with a year-earlier loss of $4.3 million or 13 cents per share. Adjusted net income was $28.7 million or 87 cents per share, up from $2.4 million or seven cents per share in last year’s third quarter. The results come as Dorel’s independent directors consider the controlling family’s proposal to take the company private by buying out other shareholders at C$14.50 per share.
This report by The Canadian Press was first published Nov. 6, 2020.
Companies in this story: (TSX:TCW, TSX:MG, TSX:H, TSX:ENB, TSX:DII.B)
The Canadian Press