TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,937.89, up 5.71 points.)
TC Energy Corp. (TSX:TRP). Energy. Up 34 cents, or 0.5 per cent, to $71.06 on 12.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 20 cents, or 0.5 per cent, to $41.21 on 7.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 15 cents, or 0.7 per cent, to $20.15 on 5.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up one cent, or 0.1 per cent, to $9.41 on 5.7 million shares.
ARC Resources Ltd. (TSX:ARX). Energy. Up 24 cents, or 1.4 per cent, to $16.91 on 5.1 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down 58 cents, or 0.7 per cent, to $78.89 on five million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Up 17 cents or $66.88. The Canadian Radio-television and Telecommunications Commission has approved Rogers Communications Inc.’s acquisition of Shaw Communications Inc.’s broadcasting services, but will force the company to meet a series of conditions it laid out Thursday. The approval from the broadcasting regulator is the latest of several hurdles Rogers must clear as it tries to close the $26-billion deal it signed in March 2021 that will see it acquire 16 cable services based in Western Canada, a national satellite television service and other broadcast and television services. The commission says the CRTC found that the competitive landscape would not be unduly affected and that the transaction would be in the public interest. Shaw’s home telephone, wireless and internet services that Rogers would acquire under the deal are not subject to CRTC approval, but are being reviewed by the Competition Bureau and Innovation, Science and Economic Development Canada.
Canopy Growth Corp. (TSX:WEED). Up $1.02 or 11.4 per cent to $9.93. A defunct subsidiary of Canopy Growth Corp. is fighting a court battle against the Canada Revenue Agency, which fined the pot company almost half a million dollars in 2020 for allegedly growing cannabis on a Saskatchewan farm before it was licensed to do so. A statement of claim filed in a Federal Court last month by a numbered company owned by the Smiths Falls, Ont., business argues that the tax agency erred in issuing a $434,611 charge, because the company was producing pot in accordance with its licence. Canopy’s subsidiary, 11239490 Canada Inc., asked the court to waive or reduce the penalty issued by the CRA. The Federal Court said the CRA has yet to file a defence.
Barrick Gold Corp. (TSX:ABX). Down 19 cents to $30.68. Barrick Gold Corp. is selling its 13 per cent stake in Skeena Resources Ltd. for nearly $132.5 million. The gold miner says a Canadian investment dealer has agreed to pay $15 per share for its 8.8 million shares in Skeena Resources and plans to resell them on a bought deal basis. Barrick says it is selling the shares for “investment portfolio management purposes.” Skeena Resources is a mining exploration and development company. It owns the Eskay Creek gold-silver project in northwest British Columbia.
Algoma Steel Group Inc. (TSX:ASTL). Down 11 cents to $15.09. Algoma Steel Group Inc. says its fourth-quarter shipments are expected to be down compared with the third quarter due to challenges across its logistics supply chain and COVID-related impacts. The steelmaker says the outlook for the quarter ended March 31 includes the impact of the work stoppage at Canadian Pacific Railway that began Sunday. The railway has reached a deal with its union and workers were back on the job Tuesday, but Algoma says it had made preparations in case of a prolonged outage. Algoma expects to end the quarter with above-average work in process and finished goods inventories to fulfil deferred shipments in future periods. The company says shipments in its fourth quarter are expected to be in a range of 540,000 to 550,000 tons. Algoma shipped 553,000 tons in its third quarter. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter are expected to be in a range of $310 million to $320 million.
This report by The Canadian Press was first published March 24, 2022.