TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,311.78, up 81.38 points.)Â
Suncor Energy Inc. (TSX:SU). Energy. Down 82 cents or 3.2 per cent, to $24.89 on 10.6 million shares.
Lundin Mining Corp. (TSX:LUN). Materials. Down 24 cents or 2.09 per cent, to $11.21 on 6.5 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up 31 cents or 3.94 per cent, to $8.18 on 5.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 20 cents or 1.96 per cent, to $10.37 on 5.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 14 cents or 0.28 per cent, to $49.45 on 4.6 million shares
Bank of Nova Scotia (TSX:BNS). Financials. Up 44 cents or 0.57 per cent, to $78.65 on 4.1 million shares.
Companies in the news:Â
TC Pipelines LP. (TSX:TRP) Down 62 cents or 1 per cent, to $61.31 — The completion of the Coastal GasLink pipeline could be delayed if TC Energy cannot resolve an ongoing dispute with LNG Canada over project costs, the Calgary-based company said Thursday. TC Energy chief executive François Poirier said construction of Coastal GasLink — which TC Energy is building to deliver natural gas from northeastern B.C. to the LNG Canada facility in Kitimat, B.C. — is nearly 50 per cent complete and making good progress after a delay earlier this year as a result of COVID-19 public health restrictions. However, Poirier said his company is now in disagreement with LNG Canada over escalating costs and project scheduling. TC Energy was selected by LNG Canada in 2011 to design, build, own and operate Coastal GasLink. The 670-km pipeline is intended to move 2.1 billion cubic feet per day (bcf/d) of natural gas to LNG Canada's terminal, where it will be converted into a liquified state for export to global markets.
Cenovus Energy Inc. (TSX:CVE). Up 20 cents or 1.96 per cent, to $10.37 — Cenovus Energy Inc. retired nearly $1 billion in debt in the second quarter as the easing of COVID-19 restrictions and a related commodity price surge provided a lift to Canadian oil and gas producers. The Calgary-based oil producer said Thursday it expects to meet its interim net debt target of $10 billion by the end of this year, assuming current commodity prices and foreign exchange rates hold. Cenovus' net debt at the end of the second quarter was $12.4 billion, compared with $13.3 billion as of March 31. Cenovus, like many other Canadian energy companies, has been focusing on cutting costs and reducing debt after the pandemic-related energy market volatility of 2020. But with energy prices on the rebound as global economies reopen and travel resumes, companies like Cenovus are suddenly awash in cash. Cenovus reported Thursday free cash flow of $1.3 billion as its total production reached 765,900 barrels of oil equivalent per day, up 65 per cent from 465,400 boe/d in the prior year period.Â
Rogers Communications Inc. (TSX:RCI.B). Down 39 cents or 0.61 per cent to $63.42 — The federal government says it raised $8.9 billion in a licence auction for a key band of 5G wireless spectrum in results announced this afternoon. Canada's Big Three wireless companies led the pack, grabbing hundreds of licences for the 3,500 MHz band of airwaves. Rogers won 325 licenses, the largest amount, paying a clock price of $3.3 billion that the company says will allow them to provide service to 34 million people, or 99 per cent of Canadians with 5G. As well as Rogers, Bell and Telus, carriers gaining licences include Videotron, Xplornet and SaskTel. Freedom Mobile, the country’s fourth largest cell service provider, chose not to participate in the auction amid a takeover deal of its parent company Shaw Communications Inc. by Rogers that has yet to be approved by regulators.
This report by The Canadian Press was first published July 29, 2021
The Canadian Press
