TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,954.99, down 218.46 points.)
Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Down 80 cents, or 4.3 per cent, to $17.81 on 8.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.09, or 3.72 per cent, to $28.22 on 7.1 million shares.Â
Bombardier Inc. (TSX:BBD.B). Industrials. Down six cents, or 2.77 per cent, to $2.11 on 6.5 million shares.
Denison Mines Corp. (TSX:DML). Materials. Down 18 cents, or 7.73 per cent, to $2.15 on 4.7 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down six cents, or 5.77 per cent, to 98 cents on 4.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 46 cents, or 3.13 per cent, to $14.25 on four million shares.
Companies in the news:Â
Shaw Communications Inc. (TSX:SJR.B). Up 66 cents or 1.9 per cent to $35.43. Executives at Shaw Communications Inc. are sure to be watching closely as a battle for control at Rogers Communications Inc. — which bought its Calgary-based rival earlier this year in a $26-billion deal — heads to court, but experts say that it's in Shaw's best interest to stay the course. The tie-up remains a win for Calgary-based Shaw, they say, because it would be better off as part of a combined company and Rogers is one of the company's only possible suitors in the country. Regulatory filings in April revealed that Bell sa¹ú¼Ê´«Ã½ parent BCE Inc. had also approached Shaw about a takeover but eventually walked away from a deal, apparently over regulatory concerns. That left the path clear for Rogers' bid. Shaw now has little wiggle room, even as Rogers' path past its bitterly divided board and executive team remains unclear. Regulatory approval for the Rogers-Shaw deal is pending. In the meantime, Edward Rogers, the son of late Rogers founder Ted Rogers, has launched court proceedings as he fights for control of the company's board of directors.
Teck Resources Ltd. (TSX:TECK.B). Down 44 cents or 1.3 per cent to $34.51. Surging global commodity prices helped lift Teck Resources Ltd. to a record third quarter and the company said Wednesday it's on track to surpass those results in the fourth quarter of this year. Commodity prices have skyrocketed this year due to increased economic activity as countries around the world roll out COVID-19 vaccination programs and lift public health restrictions. Teck saw strong realized pricing for all of its principal products in the third quarter, particularly steelmaking coal, which rose to US$237 per tonne compared with US$102 in the same quarter last year. Thirty-two per cent of Teck's steelmaking coal sales went to China. Teck's realized zinc price climbed to US$1.36 per pound, up from US$1.05, while its realized copper price rose to US$4.28 per pound. Teck confirmed Wednesday that construction of its massive new QB2 copper mine in Chile is now two-thirds complete, with production expected to begin in the second half of 2022. The mine is expected to produce 300,000 tonnes of copper equivalent per year for the first five years of its life.
H&R Real Estate Investment Trust (TSX:HR.UN). Up 54 cents or 3.3 per cent to $17. H&R Real Estate Investment Trust, one of sa¹ú¼Ê´«Ã½'s largest landlords, announced a plan to spin off or sell its retail and office properties in a bid to focus on the residential and industrial sector. The trust says it will spin off its Primaris properties including all of its enclosed shopping malls to a new publicly traded REIT that it will create with the Healthcare of Ontario Pension Plan. Immediately following the spinoff, H&R unitholders will own a 74 per cent stake in Primaris, while HOOPP will own 26 per cent. H&R also says it will sell $600 million of grocery-anchored and essential service retail properties, its $470-million equity interest in Echo Realty LP and $2.3 billion in office properties. It says the money from the sales will be used to fund its multi-residential and industrial development pipeline and for acquisitions in key markets in sa¹ú¼Ê´«Ã½ and the U.S. The moves follow H&R's sale of the Bow office tower in Calgary and the Bell office campus in Mississauga, Ont., for a total of $1.47 billion in gross proceeds.
This report by The Canadian Press was first published Oct. 27, 2021.
The Canadian Press