TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,713.82, up 145.18 points.)
Baytex Energy Corp. (TSX:BTE). Energy. Up three cents, or 4.48 per cent, to 70 cents on 8.8 million shares.
The Bank of Nova Scotia (TSX:BNS). Financials. Up $1.41, or 2.6 per cent, to $55.54 on 8.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down five cents, or 0.12 per cent, to $40.15 on 8.2 million shares.
The Toronto-Dominion Bank (TSX:TD). Financials. Up $1.18, or 2.01 per cent, to $59.92 on 7.2 million shares.
Algonquin Power & Utilities. (TSX:AQN). Utilities. Up 56 cents, or 3.28 per cent, to $17.62 on 6.3 million shares.
Royal Bank of Canada (TSX:RY). Financials. Up $1.81, or 1.98 per cent, to $93.08 on 6 million shares.
Companies in the news:
Canadian Natural Resources Ltd. (TSX:CNQ). Up 89 cents or four per cent to $22.91. Shell Canada says the Quest carbon capture and storage project north of Edmonton has reached the milestone of five million tonnes of stored carbon dioxide, equivalent to the annual emissions of about 1.25 million cars. It says the accomplishment was achieved ahead of schedule and has been attained at a lower cost than expected. Quest opened in 2015 and cost about $1.35 billion, backed with $745 million from the Alberta government and $120 million from Ottawa. Majority ownership of the project was sold to Calgary-based Canadian Natural Resources Ltd. in 2017, along with most of Shell's Alberta oilsands assets, but Shell retained a 10 per cent interest and is still the operator. It says the cost to operate Quest is about 35 per cent lower than what was forecast in 2015 and, if Quest were to be built today, it would cost about 30 per cent less. Quest captures about one third of the CO2 emissions from the Shell-operated Scotford oilsands upgrader and transports it via a 65-kilometre pipeline to be stored more than two kilometres underground in a sandstone rock reservoir.
Barrick Gold Corp. (TSX:ABX). Down 68 cents or 1.8 per cent to $36.82. Owners of the Porgera gold mine in Papua New Guinea say they are going to the World Bank’s International Centre for Settlement of Investment Disputes to try to resolve a battle with the federal government that resulted in closing of the mine. Barrick Niugini Ltd., the joint venture mine operator that is owned 47.5 per cent each by Canada's Barrick Gold Corp. and partner Zijin Mining Group of China, suspended production in April and placed the mine on care and maintenance status. Last month, it announced it would lay off 2,650 local mine workers by the end of July, making permanent temporary layoffs enacted when the government said it would not extend its special mining lease. In a news release, Barrick Niugini says the government's decision to reject its lease extension application has resulted in financial damage to the company and in significant job losses and damage to the local, provincial and national economies of Papua New Guinea.
Second Cup Ltd. (TSX:SCU). Up eight cents or 11.1 per cent to 80 cents. Second Cup Ltd.'s parent company has opened its first recreational cannabis dispensary. Mississauga, Ont.-based Aegis Brands says it welcomed guests to a Hemisphere Cannabis Co. midtown Toronto. The location was previously home to a Second Cup and will be joined by six more dispensaries Aegis has planned to open in Toronto, Orleans, Ont. and Ottawa in the coming months. Second Cup said in 2018 that it has more than 130 locations across Ontario that it plans to leverage to enter the cannabis space. Second Cup has undergone a series of restructurings in recent years to try to increase its profits in the competitive Canadian coffee industry and hopes cannabis will help it regain market share.
MTY Food Group Inc. (TSX:MTY). Down three cents at $28.81. MTY Food Group Inc. reported a second-quarter loss of $99.1 million as the company took a $120.3-million non-cash impairment charge related to property, plant and equipment, intangible assets and goodwill due to the pandemic. The restaurant company behind such brands as Thai Express, Tiki-Ming, Tutti Frutti and Valentine says the loss amounted to $4.01 per diluted share for the quarter ended May 31 compared with a profit of $19.3 million or 76 cents per share a year earlier. Revenue fell to $97.8 million compared with $125.6 million in the same quarter last year. MTY franchises and operates fast food and casual restaurants under more than 80 different banners in Canada, the United States and elsewhere. It says 2,757 of its locations were temporarily closed at the peak of the COVID-19 pandemic, but they are now reopening gradually.
This report by The Canadian Press was first published July 10, 2020.