TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,100.57, up 64.69 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 15 cents, or 4.67 per cent, to $3.36 on 10.9 million shares.
Encana Corp. (TSX:ECA). Energy. Up eight cents, or 1.52 per cent, to $5.35 on 6.7 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down two cents, or 0.41 per cent, to $4.83 on 4.7 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Up 2.5 cents, or 13.89 per cent, to 20.5 cents on 3.6 million shares.
The Green Organic Dutchman Holdings (TSX:TGOD). Health care. Up three cents, or 4.11 per cent, to 76 cents on 3.6 million shares.
Detour Gold Corp. (TSX:DGC). Materials. Up 65 cents, or 2.88 per cent, to $23.23 on 3.6 million shares.
Companies in the news:
Hudson’s Bay Co. (TSX:HBC). Up $1 or 11.3 per cent to $9.83. The groups behind competing offers to take Canada’s oldest retailer private engaged in a public war of words Wednesday after Catalyst Capital Group made an alternative offer to Hudson’s Bay Co. shareholders. Catalyst announced its rival takeover bid at $11 per share in cash, topping the existing offer of $10.30 per share made by a group of investors led by HBC executive chairman Richard Baker. The shareholder group led by Baker reached a friendly deal with the HBC board last month after it raised its offer from its initial proposal of $9.45 per share.
TC Transcontinental. (TSX:TCL.A). Up 27 cents or 1.9 per cent to $14.21. TC Transcontinental has signed a deal to sell its paper and woven polypropylene packaging operations to Hood Packaging Corp. for about $239 million. The company says it plans to use the net proceeds from the sale to reduce debt and pursue acquisitions. Under the deal, Hood Packaging will acquire paper packaging operations and buildings in Iowa, Pennsylvania and Georgia. The company will also acquire paper and woven polypropylene packaging operations in Spartanburg, S.C., however TC Transcontinental will keep the building and continue operating at the location, which also manufactures plastic flexible packaging.
Alimentation Couche-Tard. (TSX:ATD.B). Up $1.05, or 2.4 per cent on $44.39. Alimentation Couche-Tard will continue to focus on growing its U.S. footprint despite proposing an acquisition in Australia it hopes will be a springboard for expansion in Asia Pacific, the convenience store operator’s CEO said Wednesday. Brian Hannasch told analysts that the company remains focused on consolidating the large American market despite seeking opportunities in a new global geography. Hannasch said Asia Pacific is where more of the GDP growth over the next two decades is going to come for. The retailer confirmed Tuesday that it is proposing the largest acquisition in the company’s history with a $7.7 billion bid for Australia’s largest retail fuel and convenience chain.
BRP Inc. (TSX:DOO). Up $1.55 or 2.5 per cent to $64.18. BRP Inc. rode sales of three-wheeled and utility vehicles to record third-quarter revenues, boosting its financial guidance for the third time this year. The maker of Ski-Doo snowmobiles and Sea-Doo watercraft saw profits jump by 50 per cent year over year to $135.3 million last quarter. Much of the Quebec-based company’s $1.64-billion revenue — up nearly 18 per cent from a year earlier and a record for the third quarter — came from sales of its Can-Am side-by-side vehicles. Their revenues grew by more than 30 per cent, more than double the industry rate for side-by-sides, BRP said. In its outlook, BRP said it now expects full-year revenue to grow 12 to 14 per cent compared with the earlier guidance for growth of 10 to 13 per cent.
CannTrust Holdings Inc. (TSX:TRST). Down two cents or 1.8 per cent to $1.10. Troubled cannabis company CannTrust Holdings Inc. says the Toronto Stock Exchange is reviewing the company’s eligibility for continued listing on the exchange. The company, which has been under fire since it disclosed in July that Health Canada had discovered illicit cultivation in unlicensed rooms at its Pelham, Ont., greenhouse, says the TSX is reviewing the listing because of its failure to file its recent financial statements. CannTrust says it has not filed its restated audited financial statements for 2018, its restated interim financial statements for the first quarter of 2019 and its interim financial statements for the second and third quarters of 2019 along with the corresponding management discussion and analysis.
TMX Group Ltd. (TSX:X). Down $5.22 or 4.6 per cent to $106.89. TMX Group Ltd. says its board is looking into allegations regarding the past conduct of chief executive Lou Eccleston. The company says it recently became aware of allegations made against Eccleston prior to his time at TMX. A report by the website Business Insider said Eccleston was accused in court records and New York Division of Human Rights filings of inappropriate behaviour involving female employees during his time as a senior executive at Bloomberg. TMX made no comment on the specific allegations, but said it took them seriously.
This report by The Canadian Press was first published Nov. 27, 2019.
The Canadian Press