TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,800.29, down 34.46 points.)
Encana Corp. (TSX:ECA). Energy. Down 18 cents, or 2.62 per cent, to $6.69 on 9 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down 19 cents, or 2.77 per cent, to $6.67 on 7.4 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up two cents, or 0.33 per cent, to $6.07 on 6.5 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Down 50 cents, or 2.09 per cent, to $23.40 on 6.5 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down one cent, or 0.45 per cent, to $2.20 on 6.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down six cents, or 0.25 per cent, to $24.18 on 5.9 million shares.
Companies in the news:
CannTrust Holdings Inc. (TSX:TRST). Up two cents to $1.72. The Alberta government’s cannabis wholesaler and online retailer is returning products from CannTrust Holdings Inc. after Health Canada suspended the company’s licences to produce and sell pot. The AGLC would not confirm the amount or value of the on-hold product to be returned to the Vaughan, Ont.-based company, citing contract confidentiality. The move comes one day after CannTrust disclosed that it received a notice from Health Canada indicating its authority to produce and sell cannabis had been suspended. The Nova Scotia Liquor Corp. also said Wednesday it is no longer selling CannTrust products and it plans to return the product it is holding at its distribution centre.
Restaurant Brands International Inc. (TSX:QSR). Down 61 cents to $97.27. Tim Hortons will stop offering its Beyond Meat alternative protein products at thousands of Canadian locations, just three months after introducing them. Parent company Restaurant Brands International Inc. says it is pulling vegetable-based Beyond Burgers nationally and breakfast sandwiches from all locations except in B.C. and Ontario, where the “positive reaction” means customers can continue to enjoy them. The company announced in May it would test its three Beyond Meat breakfast sandwiches at some stores.
Air Canada (TSX:AC). Down 61 cents to $43.40. A new report finds that Air Canada lags behind other global airlines in revenue from passenger fees, but is poised to catch up after its recent purchase of the Aeroplan rewards program. The report from airline consulting firm IdeaWorksCompany says the country’s biggest airline took in US$1.45 billion in so-called ancillary revenue last year, or about US$28.54 per passenger. The per-passenger figure didn’t break the top 10, with U.S. competitors United Airlines Inc. and American Airlines Inc. and Australia’s Qantas Airways Ltd. reaping between US$35 and US$42 per traveller in ancillary income.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Up 10 cents to $81.07. Alimentation Couche-Tard Inc. wants to be one of the “key players” in the North American cannabis market by using its position in Canada, where recreational pot use is legal, to achieve this goal. But the expertise to be developed by the operator of convenience stores and gas stations will have to be done outside of Quebec because of provincial rules governing the sale of marijuana, company founder and executive chairman Alain Bouchard said following its annual meeting. Unable to penetrate the Quebec market, it has invested in Alberta retailer Fire & Flower.
This report by The Canadian Press was first published Sept. 18, 2019.
The Canadian Press