TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,648.57, down 99.88 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 40 cents, or 1.3 per cent, to $30.17 on 8.1 million shares.
Argonaut Gold Inc. (TSX:AR). Materials. Down 78 cents, or 24.8 per cent, to $2.36 on 7.8 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down 39 cents, or 0.8 per cent, to $50.75 on 7.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 14 cents, or 0.9 per cent, to $15.14 on seven million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 38 cents, or 5.9 per cent, to $6.07 on 5.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 21 cents, or 0.9 per cent, to $23.88 on 5.3 million shares.
Companies in the news:
Canadian Pacific Railway Ltd. (TSX:CP). Up $3.27 or 3.6 per cent to $93.54. Canadian Pacific Railway Ltd. says it has completed its acquisition of Kansas City Southern and placed the shares of the U.S. railway in a voting trust while the U.S. Surface Transportation Board reviews the deal. The trust allows KCS shareholders to be paid while ensuring the railway operates independently until the U.S. regulator issues its decision on the deal valued at US$31 billion, including the assumption of US$3.8 billion of debt. With the completion of the acquisition, KCS shareholders will receive 2.884 CP shares and US$90 in cash for each KCS common share held and US$37.50 in cash for each KCS preferred share held. CP said the combination with KCS will create the only single-line railroad linking the United States, Mexico and Canada. The Canadian railway expects the review by the STB to be completed in the fourth quarter of next year. It said the expected benefits from the combination will not be realized until the U.S. regulator approves the deal.
Hexo Corp. (TSX:HEXO). Down 12 cents or 9.8 per cent to $1.11. Hexo Corp. says it lost $116.9 million in its first quarter as the cannabis company announced a new strategic plan meant to reduce costs, streamline its business and improve growth. The Gatineau, Que., company's loss amounted to 46 cents per diluted share for the quarter ended Oct. 31, compared with a loss of $4.2 million or four cents per share in the same period a year earlier. It came as the company is overhauling its operations and leadership after Hexo co-founder and chief executive Sebastien St-Louis and chief operating officer Donald Courtney departed the company in October. Days later, St-Louis was replaced with Scott Cooper, who ran Truss Beverage Co., a joint venture between Molson-Coors Canada and Hexo that produces the Little Victory, Mollo and Veryvell beverages. Cooper unveiled a plan that aims to reduce production costs, streamline the company's organizational structure, realize cost synergies from acquisitions and plant closures, focus on revenue management through disciplined pricing and accelerate growth through market share gains.
Roots Corp. (TSX:ROOT). Up 23 cents or 7.7 per cent to $3.22. Clothing retailer Roots Corp. says it earned $10.8 million in its latest quarter, up from a profit of $10.3 million in the same quarter a year earlier. The company says the profit amounted to 25 cents per diluted share for the 13-week period ended Oct. 30, compared with a profit of 24 cents per diluted share a year earlier. Sales in what was the company's third quarter totalled $76.3 million, up from $72.9 million in the same quarter last year. On an adjusted basis, Roots says it earned 28 cents per share in the quarter compared with an adjusted profit of 27 cents per share the third quarter of 2020. Analysts on average had expected an adjusted profit of 21 cents per share and $77.8 million in revenue, according to financial markets data firm Refinitiv. Roots chief executive Meghan Roach says the company is well-positioned to capitalize on the fourth-quarter holiday season and prepared to meet consumer demand with healthy inventory levels in-store and online.
This report by The Canadian Press was first published Dec. 14, 2021.
The Canadian Press