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Most actively traded companies on the Toronto Stock Exchange

Canadian Press - Fri Oct 29, 2021

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

Toronto Stock Exchange (21,037.07, down 160.46 points.)

Suncor Energy Inc. (TSX:SU). Energy. Up 55 cents, or 1.72 per cent, to $32.55 on 11.5 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Down 57 cents, or 2.31 per cent, to $24.11 on 9.3 million shares.

Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 1.49 per cent, to $1.99 on 8.9 million shares.

Toronto-Dominion Bank (TSX:TD). Financials. Up 10 cents, or 0.11 per cent, to $89.84 on 8.4 million shares.

Hexo Corp. (TSX:HEXO). Health care. Down 24 cents, or 11.77 per cent, to $1.80 on 8.3 million shares.

Cenovus Energy Inc. (TSX:CVE). Energy. Up 20 cents, or 1.37 per cent, to $14.80 on 6.9 million shares.

Companies in the news:

Imperial Oil Ltd. (TSX:IMO). Down $3.20 or 7.1 per cent to $41.90. Imperial Oil Ltd.'s chief executive lauded "what a difference a year makes" as the Calgary-based company reported its highest third-quarter production in more than 30 years against a backdrop of surging oil prices. Brad Corson, who is also the company's chair and president, said in a conference call with analysts Friday that Imperial's third-quarter profit of $908 million amounted to $1.29 per diluted share for the quarter ended Sept. 30 compared with a profit of $3 million or zero cents per diluted share in the same quarter last year. Revenue and other income totalled $10.23 billion, up from $5.96 billion a year ago. Net income from Imperial's chemical business was $121 million, the highest quarterly net income in over 30 years. Chemical net income through the first nine months of 2021 was $297 million, exceeding the previous record set in 2018. Like all Canadian-based oil companies, Imperial is benefiting from the highest commodity prices in years as global economies reopen and lift restrictions in the wake of the COVID-19 pandemic. These same companies saw their revenues and stock prices plunge in the early days of the pandemic as lockdowns and travel restrictions sent the price of oil plummeting.

SNC-Lavalin Group Inc. (TSX:SNC). Down $2.25 or 6.3 per cent to $33.29. SNC-Lavalin Group Inc. shares fell after the engineering firm missed expectations despite swinging to a profit in its third quarter, boosted by the sale of its oil and gas business. The Montreal-based firm said its net income attributable to shareholders totalled $600.7 million, compared with a loss of $85.1 million in the same quarter last year. The results in the quarter this year included a gain of $577.8 million on the sale of the company's oil and gas business. SNC-Lavalin said its profit from continuing operations attributable to shareholders was $18.6 million or 11 cents per diluted share for the quarter ended Sept. 30, compared with a loss of $8.8 million or five cents per diluted share a year ago. Chief executive Ian Edwards said core engineering services operations performed well through the first three quarters of the year, positioning it to achieve its full-year financial outlook. Revenue totalled $1.81 billion, up from $1.78 billion in the same quarter last year. SNC said its adjusted profit from professional services and project management amounted to 23 cents per diluted share for the quarter, compared with a loss of a penny per diluted share a year ago. SNC was expected to report 39 cents per share in adjusted profits on $1.8 billion of revenues, according to financial data firm Refinitiv.

Hexo Corp. — Hexo Corp.'s auditor raised serious concerns about the company's future as it reported a $67.9-million net loss in its latest quarter. PricewaterhouseCoopers LLP said its recent review of the Ottawa-based cannabis business showed that Hexo "did not maintain, in all material respects, effective internal control over financial reporting" and several factors "raise substantial doubt about its ability to continue as a going concern." The auditor's report come as Hexo is trying to quell the upheaval stemming from a recent strategic reorganization that involved the departure of co-founder and chief executive Sebastien St-Louis and chief operating officer Donald Courtney last week. St-Louis was replaced with Scott Cooper, who ran Truss Beverage Co., a joint venture between Molson-Coors Canada and Hexo that produces the Little Victory, Mollo and Veryvell beverages. Cooper told analysts on Friday he was nine days into the job, but "quickly getting my arms around the business" by cramming in meetings with employees, investors, board members, analysts and customers. Hexo reported a $67.9-million net loss in its fourth quarter, which compared with a net loss of $169.5 million in the same quarter last year. Hexo says its net loss for the entire year amounted to 89 cents per share, down from a loss of $7.08 per share last year. The company's net revenue from sale of goods totalled $38.6 million, up from $27 million at the same time last year.

Shaw Communications Inc. (TSX:SJR.B). Down 27 cents to $35.64. Shaw Communications Inc. says it remains committed to its deal to be bought by Rogers Communications Inc. as it reported its fourth-quarter profit rose more than 40 per cent compared with a year ago. Shaw CEO Brad Shaw reiterated his commitment to work to close the transaction, adding that it was not appropriate to comment on a boardroom fight between members of the Rogers family over control of the company. Edward Rogers, the son of late Rogers founder Ted Rogers, is fighting with his sisters and mother for control of the board of directors at Rogers. He has asked a B.C. court to declare legitimate the newly constituted board he formed after being ousted as board chair earlier this month after media reports made public a failed plan to replace CEO Joe Natale with the company's chief financial officer. Meanwhile, Shaw reported a profit of $252 million or 50 cents per diluted share for the quarter ended Aug. 31, up from a profit of $175 million or 34 cents per diluted share in the same quarter last year. Revenue totalled $1.38 billion, up from $1.35 billion.

This report by The Canadian Press was first published Oct. 29, 2021.

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