TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,377.18, up 141.68 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 66 cents, or 1.2 per cent, to $54.33 on 19.2 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down $1.26, or 6.4 per cent, to $18.30 on 16.4 million shares.
Hydro One Ltd. (TSX:H). Utilities. Down 12 cents, or 0.4 per cent, to $32.77 on 13.4 million shares.
Kirkland Lake Gold Ltd. (TSX:KL). Materials. Down 71 cents, or 1.4 per cent, to $48.70 on 12.2 million shares.
Agnico Eagle Mines Ltd. (TSX:AEM). Materials. Up 50 cents, or 0.8 per cent, to $62.86 on 9.3 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down 11 cents, or 7.4 per cent, to $1.38 on 8.9 million shares.
Companies in the news:
TFI International Inc. (TSX:TFII). Up $9.86 or 8.1 per cent to $132.16. Canada's largest trucking company is virtually untouched by the vaccine mandate for truckers crossing the U.S.-Canada border, says TFI International Inc. chairman and CEO Alain Bédard. The vast majority of TFI's Canadian drivers are inoculated against COVID-19, Bédard said, adding that an eventual end to the exemption for cross-border truckers had been predictable. It was announced by the federal government on Nov. 19 and took effect Jan. 15. He said last month looked like "the best January ever for the company," coming after a fourth quarter that saw profits jump by more than two-thirds and revenue leap by 91 per cent. Bédard said the biggest issue it faced in January was people sick in the U.S. with COVID. Last month, the federal government required non-essential Canadian workers including truck drivers to be fully vaccinated if they want to avoid a 14-day quarantine upon re-entry from the United States — a rule the Canadian Trucking Alliance asked to be delayed but has now accepted. The United States imposed the same rule on American drivers a week later on Jan. 22, with Canadians who are not fully vaccinated barred from entry to the U.S. and vice versa.
Cenovus Energy Inc. — Cenovus Energy Inc. will continue to keep a tight rein on capital spending even as crude prices surge to eight-year highs, the CEO of the Calgary-based oil producer said Tuesday. In a conference call with analysts, chief executive Alex Pourbaix said the company has been pleased to see oil's recent rally to heights not seen in years, as low global supply and increased economic activity due to the easing of pandemic health restrictions drives demand. Last week, the benchmark West Texas Intermediate price soared above US$90 per barrel, and some analysts have predicted it will break the US$100 per barrel threshold later this year. But Pourbaix said the sky-high prices won't prompt a significant spending spree by Cenovus. The company reported a fourth-quarter loss of $408 million for the quarter ended Dec. 31, as it took a $1.9-billion one-time non-cash impairment charge related to its U.S. refinery business, compared with a loss of $153 million a year earlier. Revenue for the quarter totalled $13.7 billion, up from $3.5 billion a year earlier and $12.7 billion in the third quarter.
Thomson Reuters Corp. (TSX:TRI). Down $2.07 or 1.6 per cent to $131.07. Thomson Reuters Corp. raised its quarterly dividend as it reported a loss in its latest quarter due to a lower operating profit and a drop in value of the company's London Stock Exchange Group investment. The company, which keeps its books in U.S. dollars, says it lost US$175 million or 36 cents per diluted share for the quarter ended Dec. 31 compared with a profit of US$562 million or $1.13 per diluted share a year earlier. Revenue totalled US$1.7 billion, up from US$1.6 billion in the fourth quarter of 2020. On an adjusted basis, Thomson Reuters earned 43 cents per share compared with an adjusted profit of 54 cents per share in the same quarter a year earlier. The company says it will now pay a quarterly dividend of 44.5 cents per share, up from 40.5 cents per share. In its outlook for 2022, the company says it expects total revenue growth of about five per cent and between 5.5 and 6.0 per cent for 2023.
Aimia Inc. (TSX:AIM). Up three cents to $5.54. Aimia Inc. has signed a deal worth up to $517 million to sell its 48.9 per cent equity stake in PLM, the owner and operator of Mexican loyalty program Club Premier. The sale will see PLM become a wholly-owned subsidiary of Aeromexico. Under the agreement, Aimia will receive $492 million in net cash proceeds. The company may also receive up to an additional $25 million if the PLM loyalty program achieves certain targeted annual gross billing amounts by 2024. Aimia, which once owned Aeroplan before selling it to Air Canada, now holds a portfolio of investments in public and private companies including Clear Media Ltd., Kognitiv and Trade X. It also owns investment advisory business Mittleman Investment Management LLC.
This report by The Canadian Press was first published Feb. 8, 2022.
The Canadian Press
