TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,594.52, up 37.98 points.)
Enbridge Inc. (TSX:ENB). Energy. Down seven cents, or 0.13 per cent, to $52.62 on 29.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 17 cents, or 0.52 per cent, to $32.67 on 11.4 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 10 cents, or 6.9 per cent, to $1.55 on 8.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at $2.05 on 6.4 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 11 cents, or 0.68 per cent, to $16.36 on 6.2 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up one cent, or 0.24 per cent, to $4.25 on 6.2 million shares.
Companies in the news:
Aurora Cannabis Inc. (TSX:ACB). Up 18 cents or two per cent to $9.30. Aurora Cannabis Inc. says it incurred an $11.9-million net loss in its most recent quarter, but uncovered millions more in savings from an ongoing restructuring. The Edmonton-based cannabis company says its loss in the first quarter of its fiscal year compared with $101.4 million in the same quarter last year. The company says the loss amounted to six cents per share for the period ended Sept. 30,a drop from a loss of 85 cents per share in the first quarter of the last year. Aurora's net revenue for the quarter amounted to $60.1 million, down from $67.6 million in the same quarter the year prior. Aurora was expected to report a loss of $49.6 million per diluted share on $60.6 million of revenues, according to financial data firm Refinitiv. Aurora spent the quarter working to streamline its operations and says it has identified cash savings of $60 million to $80 million, but only executed on $33 million in annualized run-rate cost savings to date.
Freshii Inc. (TSX:FRII). Down 20 cents or 8.2 per cent to $2.25. Freshii Inc. is planning to double its store count in Canada as the company plots an ambitious path out of the pandemic. The Toronto-based company behind the healthy fast food franchise said Tuesday it has completed an extensive real estate review and developed a growth plan for the Canadian market. Matthew Corrin, chairman and chief executive of Freshii, said the company has about 270 Freshii locations in Canada, but the market could support twice that number. Freshii chief financial officer Daniel Haroun told analysts during a conference call that the company sees "significant runway to grow units across North America, including room to more than double our store base in Canada alone." Freshii reported $5.8 million in revenue during its third quarter Sept. 29, up from $4.8 million a year earlier. Same-store sales were up 10.6 per cent compared with the same quarter last year. Freshii reported a net loss attributable to the company of $749,000 or two cents per share for the 13-week period, compared with a net loss attributable to the company of $130,000 or zero cents per share in the same quarter last year.
MEG Energy Corp. (TSX:MEG). Down 22 cents or 1.9 per cent to $11.21. The chief executive of MEG Energy said Tuesday he doesn't expect the ongoing dispute between Canada and the U.S. over the Line 5 cross-border pipeline to hurt his company's ability to move heavy oil to the U.S. Gulf Coast. On a conference call with analysts, Derek Evans — the head of the Calgary-based energy company — said now that Enbridge Inc.'s Line 3 replacement project is operational, MEG is less concerned about the outcome of bilateral talks over Line 5. Court documents filed by the federal government say planning is well underway for bilateral talks in the dispute over the Enbridge's cross-border pipeline. A proposed motion filed last week in U.S. District Court in Michigan says the first formal negotiating session between the two countries will happen "shortly.'' On Monday, MEG Energy reported what Evans called "exceptional financial results" against the backdrop of strengthening global oil prices and an improvement in heavy oil differentials. The company boosted its output forecast for the year as it reported a profit of $54 million or 17 cents per diluted share in its latest quarter compared with a loss of $9 million or three cents per share a year ago. Revenues for the three months ended Sept. 30 were $1.09 billion, up from $533 million in the third quarter of 2020.
Hexo Corp. (TSX:HEXO). Up three cents or 1.5 per cent to $1.97. Hexo Corp. says it will close three recently acquired facilities and lay off about 155 workers as it works to streamline production. The Ottawa-based cannabis company says it will shutter properties in Kirkland Lake and Brantford, Ont., that it acquired when it bought 48 North Cannabis Corp. The company will also close a Stellarton, N.S., facility it picked up in its purchase of Zenabis Global Inc. The Ontario closures are expected to be complete by Jan. 31, while the Nova Scotia property will be decommissioned by Feb. 28. Hexo estimates 155 workers will be affected by the closures aimed at centralizing the company's cultivation, manufacturing and distribution operations. The moves come less than a month after Scott Cooper was appointed chief executive after Hexo co-founder Sebastien St-Louis left the company during a strategic organization.
This report by The Canadian Press was first published Nov. 9, 2021.
The Canadian Press