TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,352.51, down 196.33 points.)
Enbridge Inc. (TSX:ENB). Energy. Down $2.77, or 5.0 per cent, to $52.79 on 28 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 36 cents, or 1.3 per cent, to $27.05 on 22.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 54 cents, or 1.4 per cent, to $37.84 on 18.3 million shares.
Auxly Cannabis Group Inc. (TSX:XLY). Health care. Up three cents, or 22.2 per cent, to 16.5 cents on 18.3 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 26 cents, or 1.3 per cent, to $19.96 on 10.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 0.6 per cent, to $1.70 on 6.8 million shares.
Companies in the news:
Iamgold Corp. (TSX:IMG). Up five cents or 1.4 per cent to $3.73. Iamgold has agreed to several demands from an activist investor, including the appointment of three new directors and a new chair, as it looks to avoid a costly and distracting proxy battle. Under the agreement with RCF Management, Maryse Bélanger, David Smith and Ian Ashby have been appointed to as independent directors to the board. Bélanger, former president of Atlantic Gold Corp., has also been appointed chair, replacing interim chair Kevin O'Kane effective immediately. The agreement comes less than two weeks after Iamgold said it was open to appointing three new directors to avoid a proxy fight, but said that the appointment of Bélanger as chair was an "unacceptable demand," saying it would give RCF "de facto control of the company." Iamgold had also said in its Feb. 2 release that it would not give RCF nominees control of the committee hiring of the company's next CEO, but the latest agreement with RCF has Bélanger and Smith making up two of the three members of the board's CEO Search Committee. The company also said at the time that it would not cover RCF's costs of settlement negotiations, but has now agreed to cover up to $1.2 million in related expenses.
Resolute Forest Products Inc. (TSX:RFP). Down 27 cents or 1.8 per cent to $15.15. Resolute Forest Products Inc. is announcing two acquisitions it says will improve the competitiveness of its wood products operations. The Montreal-based company says it has reached an agreement with Louisiana-Pacific Corp. to buy out its 50 per cent stake in two joint ventures that produce I-joists in the Lac-Saint-Jean region of Quebec for $50 million. Resolute, which currently owns the other 50 per cent interest, operates the facilities while Louisiana-Pacific sells the products. Its longtime partner has agreed to remain the exclusive distributor of engineered wood products manufactured at the facilities employing 175 people. Resolute is also purchasing Boralex Inc.'s last remaining biomass cogeneration facility which it operates in Senneterre, Que., for an undisclosed price. Resolute says the acquisition of the 34.5-megawatt facility adjacent to its sawmill will maximize the use of biomass from its regional operations, generate green power and provide a platform for future growth in the Abitibi-Témiscamingue region.
NFI Group Inc. (TSX:NFI). Up 34 cents or 1.8 per cent to $19.68. NFI Group Inc. says the New York City Transit Authority has ordered 60 battery-electric, zero-emission heavy-duty transit buses. Financial terms of the sale were not immediately available. New Flyer says the order is in addition to 15 battery-electric buses previously delivered to the transit authority. The company's Xcelsior Charge NG battery-electric buses use a lightweight electric traction drive system with up to 525 kWh of power. The New York City Transit Authority and the MTA Bus Company comprise the largest transit agency in North America. The order is supported by the U.S. Federal Transit Administration and helps the transit authority's goal to reduce New York's carbon footprint.
This report by The Canadian Press was first published Feb. 14, 2022.
The Canadian Press
