TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,559.86, down 79.14 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 32 cents, or 1.37 per cent, to $23.05 on 16.5 million shares.
Air Canada (TSX:AC). Industrials. Down $1.15, or 4.21 per cent, to $26.19 on 9.9 million shares.
Tamarack Valley Energy Ltd. (TSX:TVE). Energy. Up eight cents, or eight per cent, to $1.08 on 9.2 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down six cents, or 2.04 per cent, to $2.88 on nine million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 22 cents, or 0.51 per cent, to $43.02 on 8.8 million shares.
Whitecap Resources Inc. (TSX:WCP). Energy. Up 17 cents, or 3.91 per cent, to $4.52 on 8.7 million shares.
Companies in the news:
Canadian Natural Resources Ltd. (TSX:CNQ). Down 26 cents, or 0.83 per cent, to $31.15. The end of Alberta's oil production curtailment program and purchase of natural gas producer Painted Pony Energy Ltd. earlier this year will help Canadian Natural Resources Ltd. increase production by about five per cent in 2021, it said Wednesday. The Calgary-based producer said it hopes to grow natural gas output next year by 11 per cent to about 1.65 billion cubic feet per day, while oil and petroleum liquids output will grow by four per cent to about 950,000 barrels per day. It unveiled a capital budget about 19 per cent larger than the $2.7 billion budgeted for the current year. Canadian Natural, one of the largest natural gas producers in Canada, added about 279 million cf/d of gas and 4,400 bpd of liquids with its $111-million buyout of Painted Pony, which closed in October.
Dollarama Inc. (TSX:DOL). Up $1.61, or three per cent, to $55. Dollarama Inc. said it will pay a bonus to employees for their work during the pandemic as it raised its dividend and reported a higher third-quarter profit. The discount chain had come under fire earlier this year from employees and their supporters who demanded that Dollarama enact greater health precautions in its warehouses and extend the pay raise it temporarily offered employees at the start of the pandemic. Under this year's bonus program, full-time employees will receive $300, while part-time workers will receive $200. The one-time payment comes as the retailer raised its quarterly dividend to 4.7 cents per share, up from 4.4 cents. Dollarama earned $161.9 million or 52 cents per diluted share for the quarter ended Nov. 1, up from $138.6 million or 44 cents per diluted share in the same quarter last year.
Canopy Growth Corp. (TSX:WEED). Down $1.98, or 5.4 per cent, to $34.91. Canopy Growth Corp. will cease operations at five facilities across the country and lay off more than 200 workers — the latest in a series of dramatic cuts the cannabis company and several others have made this year. Smiths Falls, Ont.-based Canopy said Wednesday that it will end operations at sites in St. John’s, Fredericton, Edmonton, Bowmanville, Ont., and at an outdoor grow facility in Saskatchewan. The closures will impact 220 employees, but save the company between $150 million and $200 million and accelerate its path to profitability, Canopy chief executive David Klein said in a release. The new cuts will impact about 17 per cent of the company's enclosed facilities in Canada and 100 per cent of its outdoor sites, which can produce cannabis at much lower prices than indoor ones.
Whitecap Resources Inc. — Calgary-based Whitecap Resources Inc. is cementing its position as a consolidator of conventional oil and gas producers in Western Canada with a friendly $550-million all-stock deal to buy rival TORC Oil & Gas Ltd. The merger of the two companies comes as Whitecap awaits the close of its $155-million all-stock deal to buy private oil and gas producer NAL Resources Ltd. expected in early January. Under the agreement announced after markets closed Tuesday, each TORC share can be exchanged for 0.57 of a Whitecap share, valuing it at $550 million based on closing stock prices Tuesday. Whitecap is to assume TORC's net debt of about $335 million.
This report by The Canadian Press was first published Dec. 9, 2020.
The Canadian Press
