TORONTO – Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,192.83, down 69.90 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down 3.5 cents, or 7.29 per cent, to 44.5 cents on 122 million shares.
B2Gold Corp. (TSX:BTO). Materials. Up 46 cents, or 6.45 per cent, to $ 7.59 on 72.6 million shares.
Yamana Gold (TSX:YRI). Materials. Up 37 cents, or 5.23 per cent, to $ 7.45 on 61.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 35 cents, or 1.46 per cent, to $ 23.67 on 33.9 million shares.
Husky Energy Inc. (TSX:HSE). Energy. Down 31 cents, or 7.4 per cent, to $ 3.88 on 29.5 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down 12 cents, or 1.32 per cent, to $ 8.95 on 22.1 million shares.
Companies in the news:
Torstar Corp. (TSX:TS.B). Unchanged at 61 cents. A private investment company that is a major backer of Postmedia Network Corp. has agreed to provide financing for NordStar Capital’s acquisition of Torstar Corp., the owner of the Toronto Star and other newspapers. NordStar says it considered several sources of outside funding and chose Canso Investment Counsel Ltd. because of its experience in the Canadian media industry. NordStar is a new company formed by Toronto businessmen Jordan Bitove and Paul Rivett, who have backgrounds in corporate finance.
Canopy Growth Corp. (TSX:WEED). Down $ 6.36 or 20.8 per cent to $ 24.21. Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $ 1.3-billion loss in its fourth quarter. The Smiths Falls, Ont.-based cannabis company says as part of an ongoing restructuring it has decided not to strive to be the first to every market and will instead focus on select areas like Canada, the U.S. and Germany, where it believes it can be a leader. The change comes after CEO David Klein spent four months taking a deep dive into Canopy’s operations and financials. He eventually decided to close a handful of facilities, take up to $ 800 million in writedowns and cut 800 staff.
Laurentian Bank Financial Group (TSX:LB). Down $ 2.86 or 9.1 per cent to $ 28.44. Laurentian Bank reported its second-quarter profit fell nearly 80 per cent from a year ago and it cut its dividend in a move to give it more flexibility during the COVID-19 pandemic. The bank says it will now pay a quarterly dividend of 40 cents per share, down from 67 cents per share. Laurentian chief executive Francois Desjardins says the bank has a strong capital and liquidity position and disciplined risk management, but it is a time for prudence. The dividend cut came as Laurentian reported a profit of $ 8.9 million or 13 cents per share for the quarter ended April 30, down from $ 43.3 million or 95 cents per share in the same quarter a year ago.
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CWB Financial Group (TSX:CWB). Down 79 cents or 3.4 per cent to $ 22.59. CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled. The Edmonton-based company says its provisions for credit losses for the quarter ended April 30 totalled $ 34.9 million, up from $ 15.2 million in the same quarter a year ago. The increase came as CWB reported a second-quarter profit attributable to common shareholders of $ 51.4 million or 59 cents per diluted share, down from $ 62 million or 71 cents per diluted share a year ago.
This report by The Canadian Press was first published May 29, 2020.