TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,011.89, down 174.49 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 89 cents, or 1.6 per cent, to $56.18 on 17.1 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down nine cents, or 3.5 per cent, to $2.45 on 14.3 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down $1.02, or 4.6 per cent, to $20.94 on 13.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.32, or 3.2 per cent, to $39.78 on 12.9 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 26 cents, or one per cent, to $25.76 on 10.6 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 40 cents, or 4.5 per cent, to $8.53 on 10.3 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Down 34 cents to $73.28. Globalive Capital's Anthony Lacavera is calling for "no more fake competition" in Canada's wireless services market as his firm continues its quest to buy Freedom Mobile's assets. While Lacavera is hoping Globalive will ultimately prevail, he said Monday that any successful acquirer "just needs to be an independent that will compete." His comments come after the Globe and Mail reported last week that Rogers Communications Inc. has proposed selling Freedom Mobile to New Brunswick-based rural internet provider Xplornet Communications Inc. The sale of Freedom's assets is expected to be a regulatory requirement for Rogers' proposed $26-billion takeover of Shaw Communications Inc. Lacavera said he's concerned that Canadians could end up with a "totally ineffective competitor" if the federal government doesn't oversee the sale or intervene. Lacavera threw his hat in the ring late last year and has been ramping up efforts to buy Freedom ever since. Quebecor Inc. and Eastlink, a Halifax-based telco, have also expressed interest in acquiring the wireless carrier.
Hexo Corp. (TSX:HEXO). Down three cents or 5.6 per cent to 51 cents. When cannabis-infused drinks were legalized in Canada in 2020, pot producers expected the beverages to flow all summer as consumers flocked to the new category. Those visions were dashed when the COVID-19 pandemic temporarily closed shops that March and the following year was spent contending with a mishmash of health regulations, but Dave Schlosser believes that long-awaited summer demand is on its way. The newly named president and chief executive of Truss Beverage Co., a joint venture between brewing giant Molson Coors Canada and cannabis company Hexo Corp., thinks this be the summer of CIB — cannabis-infused beverages — as people want to get out, want to socialize, want to try new things. Schlosser’s optimism comes amid the lifting of mask mandates, capacity restrictions and other health measures that cut into gatherings where consumers might have kicked back with a cannabis-infused drink.
TC Energy Corp. (TSX:TRP). Down $1.34 or 1.8 per cent to $71.16. TC Energy Corp. says it will partner with GreenGasUSA to explore development of a network of renewable natural gas (RNG) transportation hubs. TC Energy says it will build, own and operate the RNG transportation hubs in several U.S. states along its natural gas pipeline system within the next four years. The first hub could be in service by the second quarter of 2023. GreenGasUSA is a South Carolina-based company that will provide RNG to the transportation hubs. Renewable natural gas is derived from decomposing organic waste. It is not a fossil fuel, so many companies are exploring its use as a way of decarbonizing the energy supply. TC Energy says building RNG transportation hubs will provide centralized access to its existing pipeline network for renewable natural gas sources such as farms, wastewater treatment facilities and landfills.
Kinross Gold Corp. (TSX:K). Down 20 cents or 2.9 per cent to $6.75. Kinross Gold Corp. has signed a deal valued at US$225 million in cash and shares to sell its 90 per cent stake in the Chirano gold mine in Ghana to Asante Gold Corp. When the deal closes, Kinross will receive US$115 million in cash and US$50 million in Assante shares. The company will also receive a total deferred payment of US$60 million in cash, with half payable on the first anniversary of closing and the other half payable on the second anniversary. The sale will leave the Canadian gold miner with no assets or interests in Ghana. Kinross says the government of Ghana, which has a 10 per cent carried interest in the mine, has issued a “letter of no objection” regarding the change of control. The company estimated Chirano represented about three per cent of its total mineral reserve estimates at the end of last year. The deal is expected to close on or around May 31.
This report by The Canadian Press was first published April 25, 2022.
The Canadian Press
