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Most actively traded companies on the Toronto Stock Exchange

Canadian Press - Fri Apr 29, 2022

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

Toronto Stock Exchange (20,762.00, down 359.06 points.)

Cenovus Energy Inc. (TSX:CVE). Down $1.08, or 4.4 per cent, to $23.75 on 16.6 million shares.

Enbridge Inc. (TSX:ENB). Energy. Down $1.04, or 1.8 per cent, to $56.06 on 14 million shares.

Baytex Energy Corp. (TSX:BTE). Energy. Down 54 cents, or 7.6 per cent, to $6.57 on 11.5 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Down $1.04, or 2.2 per cent, to $46.18 on 10.3 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Down 16 cents, or 0.6 per cent, to $25.12 on 7.6 million shares.

Athabasca Oil Corp. (TSX:ATH). Energy. Down seven cents, or 2.8 per cent, to $2.46 on 6.9 million shares.

Companies in the news:

Imperial Oil Ltd. (TSX:IMO). Up 56 cents to $64.68. High oil prices helped Imperial Oil Ltd. post its highest first-quarter profit in over 30 years Friday, though production at the company's Kearl oilsands mine was less than anticipated due to extreme cold weather and unplanned downtime. The Calgary-based oil producer said Friday it earned $1.17 billion, or $1.75 per diluted share for the quarter ended March 31, up from a profit of $392 million or 53 cents per share a year earlier. Total revenue and other income amounted to $12.69 billion, up from $7 billion in the first three months of 2021, as oil prices skyrocketed in the quarter due to the war in Ukraine and global market concerns about energy security. But the company's production at its massive Kearl oilsands mine significantly missed analyst expectations, as Imperial struggled with harsh winter conditions in northern Alberta. Kearl produced an average of 380,000 gross oil-equivalent barrels per day in the quarter, down from 432,000 in the same period of 2021.

Magna International Inc. (TSX:MG). Down $2.50 or 3.1 per cent to $77.42. Magna International Inc. cut its outlook for the year due to lower-than-expected global auto production and increased costs as it reported a first-quarter profit of US$364 million Friday. Magna, which keeps its books in U.S. dollars, said the profit amounted to US$1.22 per diluted share for the quarter ended March 31, down from a profit of US$615 million or US$2.03 per diluted share a year earlier. The Aurora, Ont.-based auto parts company said it expects supply constraints to continue for the remainder of 2022, particularly in semiconductors. It also said its operations in Russia "remain substantially idle." In early March, Magna said it would pause operations at its six facilities in Russia in response to the country's invasion of Ukraine. The plants in Russia make parts primarily for Hyundai and Volkswagen cars and employ around 2,000 people. Magna's Russia operations generated sales of $371 million in 2021. Magna's first-quarter salestotalled US$9.64 billion, down from US$10.18 billion in the first three months of 2021.

NFI Group Inc. (TSX:NFI). Down $2.08 or 15 per cent to $11.79. Bus manufacturer NFI Group Inc. is cutting its revenue forecast for the second time in seven months, citing a global shortage of microprocessors. NFI North American bus segment president Chris Stoddart says a dearth of control modules — a key component in computer microprocessors — means lower-than-planned deliveries in the second and third quarters as otherwise completed vehicles languish in inventory. The Winnipeg-based company, which has delivered buses to the Toronto Transit Commission for more than 50 years, says it is working with alternative suppliers but expects it will need to lower production at some plants. The bus maker now forecasts between $2.3 billion and $2.6 billion in revenue and adjusted earnings of $15 million to $45 million this year, rather than the previously predicted revenue of $2.5 billion to $2.8 billion and adjusted earnings between $100 million and $130 million. Rather than positive adjusted earnings in both halves of the year as stated in March, NFI now expects to be in the black only in the fourth quarter.

TC Energy Corp. (TSX:TRP). Down $3.72 or 5.2 per cent to $67.95. TC Energy Corp. says it earned $358 million in its first quarter compared with a loss of $1.06 billion in the same quarter last year when it took a charge related to the cancellation of its controversial Keystone XL project. The pipeline company says the profit amounted to 36 cents per share for the quarter ended March 31 compared with a loss of $1.11 per share in the first three months of 2021. Revenue for three-month period totalled $3.5 billion, up from $3.38 billion a year earlier. TC Energy says its comparable earnings for the quarter totalled $1.12 per share, down from a comparable profit of $1.16 per share a year earlier. Analysts on average had expected a profit of $1.11 per share for the quarter, according to financial markets data firm Refinitiv. In its outlook, TC Energy says it expects capital expenditures this year to be about $7 billion, up from an earlier forecast for about $6.5 billion, primarily due to higher costs for the NGTL System.

This report by The Canadian Press was first published April 29, 2022.

Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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