TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,352.90 , up 59.48 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 11 cents, or 4.95 per cent, to $2.33 on 14.6 million shares.
Aphria Inc. (TSX:APHA). Health care. Down 61 cents, or 8.59 per cent, to $6.49 on 10.2 million shares.
Encana Corp. (TSX:ECA). Energy. Down 14 cents, or 2.46 per cent, to $5.54 on 9.1 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Up $1.02, or 3.39 per cent, to $31.14 on 7.1 million shares.
Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Down nine cents, or 0.48 per cent, to $18.74 on 5.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down six cents, or 0.22 per cent, to $27.49 on 5.1 million shares.
Companies in the news:
Aphria Inc. — Aphria Inc. slashed its outlook after a delay in opening additional Ontario cannabis stores and a ban on vape products in Alberta. The Leamington, Ont.-based cannabis company said Tuesday that it now expects net revenue for its 2020 financial year to be between $575 million and $625 million. It had previously predicted that total would be between $650 million and $700 million. Aphria also said its adjusted earnings before interest, taxes, depreciation and amoritization will now amount to between $35 million and $42 million, rather than between $88 million and $95 million.
Encana Corp. — Shareholders in Encana Corp. have voted overwhelmingly in favour of the oil and gas company moving its headquarters to Denver from Calgary and changing its name to Ovintiv Inc. CEO Doug Suttles says the 90 per cent vote in favour of the resolution shows clear support for the long-standing Canadian company’s decision to move its corporate home south of the border, despite public criticism from Encana founder Gwyn Morgan and shareholder Letko, Brosseau & Associates Inc. Encana announced the changes in October as part of a reorganization that includes a one-for-five share consolidation, also approved by shareholders on Tuesday.
Endeavour Mining Corp. (TSX:EDV). Up $1.30 or 5.5 per cent to $24.96. Endeavour Mining Corp. is walking away from its attempt to buy Centamin PLC. The companies had been in merger talks since late last year regarding a possible deal after Toronto-listed Endeavour made a stock-swap proposal to acquire Centamin. The proposal valued Centamin at roughly $2.5 billion at the time. However, Endeavour now says it does not plan to make a firm offer and therefore the merger discussions have been terminated.
This report by The Canadian Press was first published Jan. 14, 2020.
The Canadian Press