Most actively traded companies on the Toronto Stock Exchange

The Canadian Press

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

Toronto Stock Exchange (21,818.47, up 47.25 points.) 

Canadian Natural Resources (TSX:CNQ). Energy. Down $1.03, or 1.3 per cent, to $76.40 on 19 million shares.

Enbridge Inc. (TSX:ENB). Energy. Down one cent, or flat, to $56.46 on 17.1 million shares. 

Suncor Energy Inc. (TSX:SU). Energy. Down 22 cents, or 0.6 per cent, to $39.12 on 16.8 million shares. 

Manulife Financial Corp. (TSX:MFC). Financials. Down 20 cents, or 0.8 per cent, to $25.57 on 15.3 million shares. 

Barrick Gold Corp. (TSX:ABX). Materials. Down 40 cents, or 1.3 per cent, to $30 on 15.1 million shares.

Toronto-Dominion Bank (TSX:TD). Financials. Down 40 cents, 0.4 per cent, to $101.79 on 14.6 million shares.

Companies in the news: 

Hexo Corp. (TSX:HEXO). Down three cents or 3.8 per cent to 76 cents. Hexo Corp. reported a net loss of $690.3 million as it recorded $616 million in one-time impairment charges in its latest quarter as it worked to turn around the cannabis business. The Gatineau, Que.-based pot company spent its second quarter focused on its plan to reduce manufacturing and production costs, better manage revenue and uncover cost synergies from recent acquisitions. The company said its second-quarter loss amounted to $1.94 per diluted share for the period ended Jan. 31, compared with a net loss of $20.8 million or 17 cents per share a year earlier. Net revenue in what was the company’s second quarter totalled $52.8 million, up from $32.9 million in the same quarter last year. Hexo hopes a deal it signed with fellow pot company Tilray Brands Inc. will improve these numbers. Under the agreement, Tilray will acquire up to US$211 million of senior secured convertible notes that were issued by Hexo. They will also launch a joint venture to provide shared services to both companies.

Turquoise Hill Resources Ltd. (TSX:TRQ). Up $1.79 or 5.3 per cent to $35.63. The largest minority shareholder in Turquoise Hill Resources Ltd. says an offer by Rio Tinto International Holdings Ltd. to take the miner private is too low. Rio Tinto, which already owns a 51 per cent stake in the company, has offered $34 per share for the roughly 99 million shares held by Turquoise Hill’s minority shareholders. However, in a letter to Turquoise Hill’s independent directors, Pentwater Capital Management LP says Rio Tinto is trying to buy the take at a fraction of the value of what the shares are worth. Pentwater, which holds a nearly 10 per cent stake in Turquoise Hill, says if Rio Tinto believes its bid is a compelling offer, it would be pleased to buy part of its stake in the company for that price. The opposition to the deal follows a letter from fellow shareholder SailingStone Capital Partners, which was also critical of the Rio Tinto offer. Turquoise Hill owns a 66 per cent stake in the Oyu Tolgoi copper and gold mine in Mongolia. Erdenes Oyu Tolgoi LLC, a Mongolian state-owned entity, holds the remaining 34 per cent interest.

Centerra Gold Inc. (TSX:CG). Down 50 cents or four per cent to $12.10. Centerra Gold Inc. has temporarily suspended gold doré bar production at its Oksut Mine in Turkey after mercury was detected in part of the processing plant. The company says it is cleaning the mercury from affected areas and taking steps to mitigate and prevent exposure. Centerra is also evaluating several potential technical solutions to remove the mercury in the gold recovery process. Meanwhile, the company says mining operations are continuing at Oksut with ore being stacked on the leach pad and processing into a gold-in-carbon form. It says the gold-in-carbon will be stockpiled until the restart of the electrowinning process, where the recovery of gold from concentrated solution happens. Centerra says it is evaluating the impact on its guidance for the year.

This report by The Canadian Press was first published March 18, 2022.

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