TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,384.27, up 110.20 points.)
The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up 1.5 cents, or 4.92 per cent, to 32 cents on 22.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down nine cents, or 0.36 per cent, to $24.91 on 22.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down one cent, or 0.02 per cent, to $43.70 on 14.9 million shares.
Nevada Copper Corp. (TSX:NCU). Materials. Up 3.5 cents, or 17.5 per cent, to 23.5 cents on 13.9 million shares.
SOPerior Fertilizer Corp. (TSX:SOP). Materials. Unchanged at six cents on 10.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 16 cents, or 0.67 per cent, to $23.94 on 9.6 million shares.
Companies in the news:
Inter Pipeline Ltd. (TSX:IPL). Up 41 cents or 2.3 per cent to $17.91. The CEO of Inter Pipeline Ltd. says the Calgary-based company's review of strategic alternatives announced Thursday could include the sale of its $4-billion Heartland Petrochemical Complex under construction near Edmonton and expected to open in early 2022. Christian Bayle said Friday the sale of the complex is possible and that a broad range of options are being considered when analysts asked for more possibilities. The review is in response to an offer by Inter's largest shareholder, Brookfield Infrastructure Partners LP, to buy the rest of the company for $16.50 per share, a price that values Inter at about $7.1 billion.
TC Energy Corp. (TSX:TRP). Down 71 cents or 1.2 per cent to $56.39. TC Energy Corp. says it is gradually bringing back workers on its Coastal GasLink pipeline project in B.C. after health authorities approved its plan to deal with risks of the COVID-19 pandemic. The workforce fell from almost 3,700 people to fewer than 600 and pipeline construction ground to a near halt in January after an order was issued restricting worker numbers at industrial projects in the Northern Health Authority region of B.C. to control the pandemic. On Thursday, TC Energy CEO Francois Poirier warned that the $6.6-billion estimated cost of the conduit to bring natural gas from northeastern B.C. to the Canada LNG export terminal on the coast would rise and completion would likely be delayed because of the measures.
Magna International Inc. (TSX:MG). Up $9.42 or 9.8 per cent to $105.12. Shares of Magna International Inc. rose after executives said the auto parts maker can grow despite a computer chip shortage plaguing the auto industry. This year's semiconductor shortage has led several auto companies, such as Stellantis and General Motors, to idle Canadian plants for periods of January or February. It comes on the heels of other recent assembly line stoppages in North America, after 2020's COVID-19 pandemic shut down production last year, and union workers' strike in the U.S. in 2019. While CEO Seetarama Kotagiri sidestepped a question directly about making a car for Apple, he noted that electric vehicle company Fisker is not the only upstart on Magna's radar.
Chorus Aviation Inc. (TSX:CHR). Down one cent to $3.73. Chorus Aviation Inc. says an acquisition proposal from an unnamed bidder that it received last fall is no longer being considered, but that it remains in talks regarding a potential investment. The aviation company said in October that it had received a preliminary, non-binding acquisition proposal that was subject to a number of significant conditions. The comments came as Chorus reported a fourth-quarter profit of $9.2 million, down from $36.6 million a year earlier, as travel restrictions due to the pandemic hurt demand. Operating revenue totalled $218.2 million, down from $338.6 million.
CGI Inc. (TSX:GIB.A). Down $1.53 or 1.6 per cent to $96.54. CGI Inc. has signed a deal to buy back and cancel 4.2 million of its class-A subordinate voting shares from the Caisse de depot et placement du Quebec for $400 million. The technology consulting company says it will pay $95.13 per share, a slight discount to where the shares closed on the Toronto Stock Exchange on Thursday at $98.07. CGI says the transaction will be made in connection with a periodic portfolio rebalancing by the Caisse. The Quebec pension fund manager will continue to hold 27.2 million class-A shares, representing a 10.9 per cent stake in the company.
This report by The Canadian Press was first published Feb. 19, 2021.
The Canadian Press
