TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,398.02, up 39.81 points.).
Suncor Energy Inc. (TSX:SU). Energy. Up 38 cents, or 1.81 per cent, to $21.34 on 15.4 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 42 cents, or 1.39 per cent, to $30.71 on 14.9 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 38 cents, or 2.7 per cent, to $14.43 on 10.3 million shares.
Air Canada (TSX:AC). Industrials. Up $1.36, or 5.25 per cent, to $27.25 on 9.7 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Up two cents, or 0.21 per cent, to $9.60 on 7.9 million shares.
Cineplex Inc. (TSX:CGX). Telecommunications. Down 45 cents, or 4.4 per cent, to $9.82 on 6.4 million shares.
Companies in the news:
WSP Global Inc. (TSX:WSP). Up $11.25 or 11.6 per cent to $108.04. WSP Global Inc. has secured a transformation deal to take advantage of the world’s green transition after agreeing to buy Ontario’s employee-owned Golder Associates for about $1.5 billion. The agreement announced Thursday positions WSP to capitalize on the rapidly growing trends in ESG (environment, society and governance) that is driving demand for environmental services and sustainable infrastructure development. The deal comes as governments around the world consider ways to recover from the economic impact of COVID-19 and look at green initiatives like transit. After the deal closes, expected in the second quarter, 14,000 of WSP’s 54,000 employees will be focused on accelerating the transition to green solutions. The acquisition achieves a key plank of its strategic plan with the environment sector accounting for about 25 per cent of WSP’s total annual revenues of $8 billion and half of net revenues coming from strategic advisory services.
TD Bank Group (TSX:TD). Down 11 cents to $70.67. TD Bank Group beat expectations as it reported its fourth-quarter profit rose compared with a year ago, boosted by the sale of TD Ameritrade. The bank says it earned $5.14 billion or $2.80 per diluted share for the quarter ended Oct. 31, up from $2.86 billion or $1.54 per diluted share a year ago. Revenue totalled $11.84 billion, up from $10.34 billion in the same period a year earlier. Provisions for credit losses were $917 million, up from $891 million a year ago but down from nearly $2.19 billion in the third quarter. On an adjusted basis, TD says it earned $1.60 per diluted share in its latest quarter, up from an adjusted profit of $1.59 per diluted share in the same quarter last year. Analysts on average had expected TD to earn an adjusted profit of $1.28 per share in the quarter, according to financial data firm Refinitiv.
Canadian Imperial Bank of Commerce (TSX:CM). Up 26 cents to $110.32. Canadian Imperial Bank of Commerce beat expectations even as its fourth-quarter profit edged down compared with a year ago. The bank reported Thursday it earned nearly $1.02 billion or $2.20 per diluted share for the quarter ended Oct. 21, down from $1.19 billion or $2.58 per diluted share in the same quarter last year. Revenue totalled $4.6 billion, down from $4.77 billion a year earlier. Provisions for credit losses were $291 million, down from $402 million a year ago and $525 million in the bank’s third quarter. On an adjusted basis, CIBC says it earned $2.79 per diluted share for the quarter, down from $2.84 per diluted share a year ago. Analysts on average had expected an adjusted profit of $2.52 per share, according to financial data firm Refinitiv. CIBC also said Thursday that Katharine Stevenson, who has been an independent director since 2011, will become chair of the board at the company’s annual meeting set for April 8, 2021.
Athabasca Oil Corp. (TSX:ATH). Unchanged at 15 cents. A Canadian oil company with production from both oilsands and light oil and gas wells is forecasting lower spending and little change in production in 2021. Athabasca Oil Corp. says it plans to spend $75 million next year, versus $85 million in 2020, with $70 million of that focused on drilling wells to sustain production at its Leismer oilsands project, which employs steam to produce bitumen. It says it plans to drill no new wells in its light oil division but added its minimal capital program is flexible depending upon changes in commodity prices. Athabasca expects 2021 production of between 31,000 and 33,000 barrels of oil equivalent per day (10 per cent natural gas), similar to its 2020 average output of about 32,250 boe/d. Last month, the company reported a third-quarter net loss of $18.8 million, versus a loss of $8.3 million in the year-earlier period, on lower bitumen production and oil prices.
This report by The Canadian Press was first published Dec. 3, 2020.
The Canadian Press