TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,854.00, up 17.53 points.)
Denison Mines Corp. (TSX:DML). Materials. Up three cents, or 2.14 per cent, to $1.43 on 27.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 16 cents, or 1.62 per cent, to $10.01 on 23.8 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 70 cents, or 1.89 per cent, to $37.73 on 23.6 million shares.
The Toronto-Dominion Bank. (TSX:TD). Financials. Down 60 cents, or 0.72 per cent, to $82.42 on 22 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 47 cents, or 1.73 per cent, to $27.65 on 19.4 million shares.
Shaw Communications Inc. (TSX:SJR.B). Telecommunications. Down 76 cents, or 2.2 per cent, to $33.75 on 17.2 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Down 68 cents or 1.1 per cent to $60.58. Rogers Communications Inc. has entered into a public-private partnership to build more than 300 new towers to improve wireless service in underserved parts of Eastern Ontario. About half of the funding for the $300-million project, which will establish or boost wireless reception in more than 100 municipalities and several First Nations communities, will come from governments at the federal, provincial and municipal levels. Rogers will provide the other $150 million and lead the project. Construction of nearly 350 new transmission towers will begin this spring and continue through 2025, while more than 300 existing towers will be upgraded. About $10 million will come from local organizations that had previously arranged for the provincial and federal governments to provide $71 million each for the project.
Imperial Oil Ltd. (TSX:IMO). Up 21 cents to $29.85. Imperial Oil Ltd. is recommending investors attending its annual meeting in May vote against a shareholder resolution that it adopt a corporate wide target to achieve net-zero carbon emissions by 2050. The motion, made by Aequo Shareholder Engagement Services on behalf of Quebec group retirement system Batirente, argues that Imperial's current 2023 emissions reduction target is a step in the right direction but that it is also important to have a long-term strategy. In its notice of meeting, however, Imperial recommends voting down the proposal because, although it supports initiatives to control global warming, it is "premature" to set targets before it has a concrete plan for how to reach them. The company says it has a portfolio of technologies at various stages of commercialization that could be employed, including the use of solvents to produce bitumen from oilsands wells with less energy and using carbon capture and storage to create emission offsets.
Shaw Communications Inc. — The Competition Bureau Canada says it has already received an unprecedented amount of online interest related to Rogers Communications Inc.’s proposed acquisition of Shaw Communications Inc. The Competition Bureau says it is getting a higher than normal volume of inquiries online, which is the main gateway for feedback since the bureau's phone services have been shut down since March 2020. After the deal was announced Monday, the bureau says there was a surge of feedback forms related to the proposed $26 billion telecom tie-up, which would combine Canada's two largest cable operations and rivals in the wireless sector. The regulator says it is not able to respond to each form individually because of the high volume, but that the feedback will be reviewed thoroughly and new submissions are still encouraged.
Dorel Industries Inc. (TSX:DII.B). Up $1.07 or 8.5 per cent to $13.60. Dorel Industries Inc. is selling one of its Chinese manufacturing facilities acquired in 2014. The Montreal-based maker of sporting goods, products for young children and home furniture says the sale is part of a strategic move to co-develop new children's products with a diverse supplier base. The juvenile products manufacturing facility in Zhongshan will be sold to Guangdong Roadmate Group Co., Ltd. for gross proceeds of about US$51 million. However, it expects to incur a non-cash loss of about US$8 million. Dorel will maintain its second manufacturing location in Huangshi as well as its product sourcing and quality control organizations in China that service all three of Dorel’s business segments. The transaction does not include Dorel's domestic juvenile sales operation based in Shanghai that was acquired along with the manufacturing facility in 2014 as part of a deal valued at US$120 million.
This report by The Canadian Press was first published March 19, 2021.
The Canadian Press
