TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,950.70, down 0.15 of a point.)
Dream Global Real Estate Investment Trust. (TSX:DRG.UN). Real estate. Up three cents, or 0.18 per cent, to $16.78 on 6.4 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 14 cents, or 4.05 per cent, to $3.32 on 5.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.03 per cent, to $1.92 on 5.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 15 cents, or 0.29 per cent, to $51.20 on 5.2 million shares.
Whitecap Resources Inc. (TSX:WCP). Energy. Up four cents, or 0.88 per cent, to $4.61 on 4.6 million shares.
Encana Corp. (TSX:ECA). Energy. Down eight cents, or 1.48 per cent, to $5.33 on 4.4 million shares.
Companies in the news:
Hudson’s Bay Co. (TSX:HBC). Down 26 cents or 2.9 per cent to $8.78. Canada’s oldest retailer’s strategy will remain the same whether or not it remains a public company, Hudson’s Bay Co. chief executive said as the department-store chain reported sluggish sales in its most recent quarter. HBC shareholders are set to vote on a privatization bid, priced at $10.30 per share, led by the company’s executive chairman Richard Baker next week. HBC reported Tuesday that its same-store sales, a key retail metric, fell 1.7 per cent for the 13-week period ended Nov. 2 as it lost $226 million, compared with a $161 million loss a year ago.
Enbridge Inc. — The CEO of Enbridge Inc. says an updated environmental review released by a Minnesota state agency on Monday is a “good outcome” but declined to speculate on when its oft-delayed Line 3 pipeline replacement project will be completed. The state Department of Commerce found no serious threat to Lake Superior if crude oil leaks from the pipeline that carries Canadian crude from Alberta across North Dakota and Minnesota on the way to Enbridge’s terminal in Superior, Wis. State regulators ordered the update after the Minnesota Court of Appeals in June declared that an earlier review, issued in February 2018, was inadequate because it failed to specifically address the potential impacts of a spill into the Lake Superior watershed.
Barrick Gold Corp. (TSX:ABX). Up 44 cents or 1.97 per cent to $22.72. Barrick Gold Corp. and its Senegalese joint-venture partner have reached deal to sell their 90 per cent stake in the Massawa project in Senegal to Teranga Gold Corp. in an agreement worth up to US$430 million. Under the deal, Barrick and its partner will receive US$300 million in cash and roughly 20.7 million in Teranga shares valued at US$3.85 per share for a total of US$79.8 million. They will also be eligible for a contingent payment of up to US$50 million that is based on the average gold price for the three-year period following the closing of the deal. Barrick says it will receive 92.5 per cent of the total purchase price, while its Senegalese partner will receive the rest for its minority interest.
Cenovus Energy Inc. (TSX:CVE). Up 27 cents or 2.2 per cent to $12.45. Cenovus Energy Inc. plans to increase its capital spending in 2020 compared with this year. The energy company says it plans to invest between $1.3 billion and $1.5 billion in 2020, up from between $1.1 billion and $1.2 billion in 2019. Cenovus says the increase is largely due to a deferral of spending this year following the mandatory production curtailments in Alberta. In its outlook for 2020, Cenovus expects total production in 2020 to increase seven per cent compared with its guidance for 2019. It says its crude-by-rail program, combined with the Alberta government’s special production allowances, will position the company to move to unconstrained production levels.
This report by The Canadian Press was first published Dec. 10, 2019.
The Canadian Press