TORONTO – Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,705.27, down 36.52 points.)
Nevada Copper Corp. (TSX:NCU). Materials. Down one cent, or 11.11 per cent, to eight cents on 15.5 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 32 cents, or 1.38 per cent, to $23.45 on 12.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 55 cents, or 1.07 per cent, to $50.73 on 8.2 million shares.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD). Health care. Down one cent, or 5.4 per cent, to 17.5 cents on 7.6 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down two cents, or 0.08 per cent, to $24.59 on 7.5 million shares.
Canadian Natural Resources (TSX:CNQ). Down 19 cents, or 0.44 per cent, to $42.56 on 6.4 million shares.
Companies in the news:
Transat AT Inc. (TSX:TRZ). Down six cents or 1.2 per cent to $4.88. Transat AT Inc. has seen steady customer demand since resuming flights earlier this summer, but the travel company said Thursday it still doesn’t expect to return to its pre-pandemic level before 2023. Montreal-based Transat began a gradual resumption of flying on July 30 after grounding its fleet on Jan. 29 when Ottawa requested a suspension of travel to Mexico and the Caribbean as well as the adoption of new quarantine measures and testing requirements. The airline has since ramped up to 50 flights per week for the month of September and will increase to 70 flights per week in October, with 11 aircraft in operation, said chief executive Annick Guérard. Transat said Thursday it lost $138.1 million in its latest quarter compared with a loss of $45.1 million in the same quarter last year. Revenue in what was the company’s third quarter totalled $12.5 million, up from $9.5 million a year ago. The company said it has implemented a series of operational, commercial and financial measures, including new financing and cost reduction measures aimed at preserving its cash. As of July 31, 2021, cash and cash equivalents totalled $429.4 million, the company said.
Scotiabank (TSX:BNS). Up nine cents to $78.15. Canadian bank CEOs say they are looking to grow their U.S. operations as the country shows a strong economic rebound from the COVID-19 pandemic. Scotiabank CEO Brian Porter, speaking Thursday at the bank’s virtual Financials Summit, said the country was showing a stronger rebound than other markets Scotiabank operates in like the Caribbean and Latin America. He said the U.S. is leading the pack with Canada not far behind, though in the second quarter the U.S. recorded GDP growth of 6.6 per cent, while Canada’s GDP saw a revised dip of 0.3 per cent. Porter said Scotiabank is looking to expand its U.S. wealth business through an acquisition, though he said it wouldn’t be sizable dollar-wise. RBC CEO Dave McKay said the bank is looking to use its base in the U.S. to tap into the potential $60 billion to $70 billion of mid-sized corporate revenue up for grabs in lending and transactions. The bank will use its base of City National Bank, the Los Angeles-based operation it acquired in 2015, plus its U.S. Wealth and Capital Markets segments to snag both corporate and high net-worth clients.
Dollarama Inc. (TSX:DOL). Down $1.81 or 3.1 per cent to $55.69. Dollarama Inc. reported a second-quarter profit of $146.2 million, up from a profit of $142.5 million in the same quarter last year. The retailer says the profit amounted to 48 cents per diluted share for the quarter, up from 46 cents a year ago. Sales in the 13-week period ended Aug. 1 totalled $1.03 billion, up from $1.01 billion last year. Dollarama says comparable store sales fell 5.1 per cent due to a ban on the sale of non-essential products in Ontario in place for the first 5.5 weeks of the quarter due to the pandemic. It says for the 7.5-week period after the Ontario ban was lifted that comparable store sales rose 5.1 per cent compared with a year ago. Dollarama opened 13 net new stores in the quarter to bring its total store count to 1,381 compared with 1,314 a year ago.
Empire Co. Ltd. (TSX:EMP.A). Down $1.38 or 3.4 per cent to $38.85. Empire Co. Ltd., which owns the Sobeys and Safeway grocery chains, says it earned $188.5 million in its latest quarter. The grocery retailer says its profit amounted to 70 cents per share for the quarter ended July 31. The result compared with a profit of $191.9 million or 71 cents per share a year ago when the company benefited from a significant real estate transaction partly offset by a lump-sum payment related to collective bargaining in Alberta. Excluding the two one-time items last year, Empire says its earnings per share in its latest quarter were up 4.5 per cent. Sales in what was the company’s first quarter totalled $7.6 billion, up from nearly $7.4 billion in the same quarter last year, boosted by the acquisition of Longo’s and higher fuel sales due to increased fuel prices and consumption. Same-store sales were down 0.5 per cent for the quarter, while same-store sales, excluding fuel, were down 2.2 per cent.
This report by The Canadian Press was first published Sept. 9, 2021.
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