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Most actively traded companies on the Toronto Stock Exchange

Canadian Press - Wed Oct 20, 2021

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:

Toronto Stock Exchange (21,188.19, up 101.20 points.)

The Royal Bank of Canada. (TSX:RY). Financials. Up 58 cents, or 0.44 per cent, to $132.14 on 12.1 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Down 15 cents, or 0.52 per cent, to $28.53 on 8.2 million shares.

Baytex Energy Corp. (TSX:BTE). Energy. Up 18 cents, or 4.52 per cent, to $4.16 on 6.7 million shares

Hexo Corp. (TSX:HEXO). Health care. Down 16 cents, or 6.67 per cent, to $2.24 on six million shares.

B2Gold Corp. (TSX:BTO). Materials. Up 12 cents, or 2.35 per cent, to $5.23 on 5.7 million shares.

Silver Elephant Mining Corp. (TSX:ELEF). Materials. Up 6.5 cents, or 24.53 per cent, to 33 cents on five million shares.

Companies in the news:

Canadian Pacific Railway Ltd. (TSX:CP). Up $1.23 or 1.4 per cent to $92.05. Canadian Pacific Railway Ltd. lowered its volume outlook for the year as a weak grain crop and supply chain challenges weighed on its third-quarter results. The company said Wednesday that it now expects low single-digit volume growth this year, as measured in revenue ton-miles, compared with last year, while in July CP said it expected high single-digit growth. However, the railway says it remains confident that it will deliver full-year double-digit adjusted diluted earnings per share growth. Grain revenue was down 21 per cent compared with a year earlier as the crop is expected to be 40 per cent smaller than last year because of dry conditions on the Prairies. Overall, the increase in some segments helped push CP revenue to $1.94 billion for the quarter, up from $1.86 billion in the same quarter last year. Earnings came in at $472 million or 70 cents per diluted share for the quarter ending Sept. 30, down from $598 million or 88 cents per diluted share a year ago as the company's operating ratio worsened from last year. On an adjusted basis, CP says it earned 88 cents per diluted share in the quarter, up from an adjusted profit of 82 cents per diluted share a year ago.

Hexo Corp. — Hexo Corp. has named Scott Cooper as the cannabis company's new president and chief executive, effective immediately. Cooper is president and CEO of Truss Beverages, a joint venture between Hexo and Molson-Coors. Hexo says Cooper will head both companies for an interim period of up to six months to ensure a smooth transition. The appointment comes as Hexo completes a strategic reorganization that saw co-founder Sebastien St-Louis, who was also CEO, leave the company this week. Hexo also announced the resignation of chief operating officer Donald Courtney on Monday, though he is expected to remain until a replacement is found. The company has made several acquisitions this year, including deals to buy cannabis producer Redecan, 48North Cannabis Corp. and Zenabis Global Inc.

Noront Resources Ltd. (TSX:NOT). Up four cents or 5.1 per cent to 82 cents. The board of Noront Resources Ltd. is backing a sweetened takeover offer from BHP, which raised its bid for the company after it was set to accept a rival offer from Wyloo Metals Pty Ltd. BHP raised its offer to 75 cents per share from an earlier proposal of 55 cents after Noront ruled Wyloo's bid of 70 cents per share was a superior proposal. However, Noront now says it believes the increased BHP offer provides shareholders with the value inherent in its portfolio without the long-term risks associated with the development and execution of those projects. Noront is developing several projects in the Ring of Fire region in northern Ontario. The company says at least 50 per cent of shares not owned by BHP must be tendered to the offer, adding that if shareholders other than Wyloo tender their shares the offer will succeed. Wyloo, which owns a 37.25 per cent stake in Noront, had rejected BHPs earlier offer.

A&W Revenue Royalties Income Fund. (TSX:AW.UN). Up 49 cents or 1.3 per cent to $39.36. A&W Revenue Royalties Income Fund says its same-store sales grew nearly 17 per cent in its latest quarter as COVID-19 public health restrictions eased, allowing the fast-food chain to reopen more restaurants and serve more customers. The Vancouver-based company's gross sales in the royalty pool totalled $409.5 million for the three months ended Sept. 12, up from $340.6 million in the same quarter of 2020. The company reported net income excluding non-cash items of $9.2 million for the third quarter, up from $7.7 million in the same period the previous year. It says there were 994 open restaurants in the royalty pool at the end of the quarter, compared to 971 in 2020. The company says its monthly distribution rate will increase to 15.5 cents per unit, up from 15 cents per unit, beginning with its October 2021 distribution payable Nov. 30. A&W Revenue Royalties Income Fund owns the A&W trademarks used in the A&W quick service restaurant business in Canada.

This report by The Canadian Press was first published Oct. 20, 2021.