TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,774.14, up 158.77 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 75 cents, or 6.96 per cent, to $10.03 on 17.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 18 cents, or 0.45 per cent, to $39.83 on 10.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up eight cents, or 0.42 per cent, to $19.15 on 8.8 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up 79 cents, or 2.91 per cent, to $27.94 on 8 million shares.
Toronto-Dominion Bank. (TSX:TD). Financials. Up 51 cents, or 0.79 per cent, to $64.99 on 7.1 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up 13 cents, or 0.21 per cent, to $61.48 on 6.6 million shares.
Companies in the news:
Great Canadian Gaming Corp. (TSX:GC). Up $9.99 or 34.6 per cent to $38.90. Great Canadian Gaming Corp.’s chief executive officer faced a barrage of questions Wednesday from some of its minority shareholders who oppose the casino operator’s acceptance of a $3.3 billion takeover announced the previous evening. Apollo Global Management Inc. has agreed to pay $39 per share for the company — a price that’s about 35 per cent above Great Canadian’s recent value but well short of what some investment managers argue it is worth. Chief executive Rod Baker, who has led the company for about a decade, said its independent directors had done a thorough job of analyzing Apollo’s offer but acknowledged they hadn’t approached other potential investors before unanimously recommending the deal. The company runs 25 gaming, entertainment and hospitality facilities, primarily in Ontario and British Columbia, but has suspended most of its operations because of COVID-19-related public health restrictions.
AirBoss of America Corp. (TSX:BOS). Up 49 cents or 2.9 per cent to $17.19. AirBoss of America Corp. says its net profit surged in the third quarter on a more than doubling of revenues from supplying respirators and related products ordered by U.S. government agencies in response to COVID-19. The Ontario-based company says its net income attributable to shareholders was US$11.6 million or 47 cents per diluted share, up from US$1.5 million or seven cents per share a year earlier. AirBoss, which reports in U.S. dollars, says adjusted profit was $11.7 million or 47 cents per share, compared with $1.8 million or eight cents per share in the third quarter of 2019. Revenues for the three months ended Sept. 30 rose to $162.7 million from $77.2 million in the prior year. AirBoss was expected to report 33 cents per share in adjusted profits on $140.3 million of revenues, according to financial data firm Refinitiv.
Chorus Aviation Inc. (TSX:CHR). Down 11 cents or three per cent to $3.59. Shares of Chorus Aviation Inc. fell as much as 12.7 per cent Wednesday after the regional aviation company reported third-quarter results that missed expectations as it continues to feel the effects of COVID-19. The Halifax-based company said it earned $20.5 million or 13 cents per share in the quarter, down 15.4 per cent from $24.2 million or 15 cents per share. Adjusted profits plunged 62.6 per cent to $10.9 million or seven cents per share, compared with $29.1 million or 18 cents per share in the third quarter of 2019. Revenue for the three months ended Sept. 30 was $196.4 million, down 44.1 per cent from $351.4 million in the prior year. Analysts on average forecast adjusted earnings of 11 cents per share on $204.3 million of revenues, according to financial data firm Refinitiv.
Topaz Energy Corp. (TSX:TPZ). Up three cents to $14.38. Three weeks after its initial public offering, Topaz Energy Corp. says it expects about 15 per cent growth in royalty production and 38 per cent higher adjusted earnings next year compared with this year. The Calgary company, which listed its shares on the Toronto Stock Exchange in a $250-million IPO, says it expects production will rise to 11,550 barrels of oil equivalent per day from 10,100 boe/d this year and earnings before interest, taxation, depreciation and amortization will rise to $123 million compared with $89 million this year. It also hopes to boost revenue from processing and other income by 46 per cent to $30 million. Topaz was created by Calgary-based oil and gas producer Tourmaline Oil Corp. a year ago as a vehicle to hold petroleum processing and handling assets that it felt were not being recognized in its share price.
CGI Inc. (TSX:GIB.A). Up $3.24 or 3.6 per cent to $92.88. CGI Inc. reported its fourth-quarter profit fell more than 20 per cent compared with a year ago as it was hit by a restructuring charge. The business and technology consulting firm says it earned $251.9 million or 96 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $324.1 million or $1.19 per diluted share a year ago. CGI says the drop was primarily due to a one-time restructuring cost of $84.3 million in the most recent quarter. Revenue for the final quarter of the company’s 2020 financial year amounted to nearly $2.93 billion, down from nearly $2.96 billion in the same quarter last year. Excluding acquisition-related, integration and restructuring costs, CGI says it earned $318.4 million or $1.22 per diluted share compared with a profit of $329.5 million or $1.21 per diluted share a year ago when it had more shares outstanding.
This report by The Canadian Press was first published Nov. 11, 2020.
The Canadian Press