TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,565.34, down 56.44 points.)
Encana Corp. (TSX:ECA). Energy. Down 23 cents, or 4.43 per cent, to $4.96 on 16 million shares.
Aphria Inc. (TSX:APHA). Health care. Down 65 cents, or 8.58 per cent, to $6.93 on 8.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 0.81 per cent, to $1.22 on 7.2 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down nine cents, or 5.56 per cent, to $1.53 on 6 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 13 cents, or 4.76 per cent, to $2.60 on 5.5 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 11 cents, or 0.2 per cent, to $53.96 on 5.45 million shares.
Companies in the news:
Encana Corp. (TSX:ECA). Encana Corp. says it has completed its corporate reorganization under the new name Ovintiv Inc. The shake-up also includes technically moving the company to be U.S.-based, though the company says the move won't change how the Calgary-based company runs its day-to-day activities. Company CEO Doug Suttles said in announcing the change that the domicile move to the U.S. would give the company access to larger pools of investment in U.S. index funds and passively managed accounts, as well as better align it with its U.S. peers.
Barrick Gold Corp. (TSX:ABX). Up 36 cents or 1.48 per cent to $24.60. Barrick Gold Corp. has signed an agreement with the Tanzanian government to formalize a joint venture relating to three mines that ends a long-running tax dispute with the African country. The Toronto-based gold miner signed the deal with United Republic of Tanzania President John Pombe Magufuli that will give the government "full visibility of and participation in operating decisions made for and by the North Mara, Bulyanhulu and Buzwagi mines." The agreement also formalizes the creation of a jointly owned management company that will oversee Barrick's local operations.
SNC-Lavalin Inc. (TSX:SNC). Down 15 cents to $31.09. Canada has slipped in the annual Transparency International ranking of countries considered among the least corrupt, in light of the SNC-Lavalin controversy. According to the Berlin-based organization's most recent corruption perception index, Canada now ranks 12th on the list of 180 countries assessed, behind Germany, the Netherlands and Norway. This is a decrease of three places compared to 2018. The country obtained a score of 77, which places it at the top in the Americas, while the United States ranks 23rd.
Domtar Corp. (TSX:UFS). Down $2.49 or 4.8 per cent to $49.49. Domtar Corp. has warned of an expected operating loss for the fourth quarter and sales that are below analyst expectations. The wood products company says in a business update that it expects its operating loss to be between US$15 million and US$19 million, due in part to US$19 million in closure and restructuring costs and US$74 million in depreciation and amortization. The company, partially based in Montreal, says it expects revenue of US$1.2 billion. Analysts had expected revenue of US$1.27 billion according to financial markets data firm Refinitiv.
Aphria Inc. (TSX:APHA). Aphria Inc. says it has signed a deal with an unidentified institutional investor who has agreed to invest $100 million in the cannabis company. The investor will acquire roughly 14 million units of the company at a price of $7.12 per unit. Each unit will include one Aphria share and one-half of a share purchase warrant. Each whole warrant will entitle the investor to acquire one Aphria share at a price of $9.26 for a period of 24 months from the closing date of the offering. Aphria says it plans to use the net proceeds from the offering to finance international expansion, working capital and general corporate purposes.
This report by The Canadian Press was first published Jan. 24, 2020.