TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,544.48, down 34.62 points.)
Enbridge Inc. (TSX:ENB). Energy. Up 15 cents, or 0.34 per cent, to $44.17 on 9.67 million shares.
Trevali Mining Corp. (TSX:TV). Basic Materials. Up about two cents, or 13.64 per cent, to nearly $0.13 on 8.2 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 23 cents, or 1.05 per cent, to $21.62 on 6.12 million shares.
B2Gold Corp. (TSX:BTO). Basic Materials. Down 33 cents, or 3.41 per cent, to $9.36 on 5.98 million shares.
Kinross Gold Corp. T(TSX:K). Basic Materials. Down 40 cents, or 3.08 per cent, to $12.58 on 5.67 million shares.
Manulife Financial Corp (TSX:MFC). Financials. Up 16 cents, or 0.82 per cent, to $19.59 on 5.64 million shares.
Companies in the news:
Magna International Inc. (TSX:MG). Up 51 cents, or 0.78 per cent, to $65.82. Magna International Inc. says COVID-19 shutdowns of automotive production caused a US$1.2 billion drop in its earnings and $5.5 billion hit to sales in the second quarter. The auto parts maker says the impact was far worse than the quarterly declines during the 2008-2009 financial crisis as it lost US$647 million or $2.17 per diluted share in the second quarter, compared with a profit of US$452 million or $1.42 per share a year earlier. Reporting in U.S. dollars, its adjusted loss was $1.71 per share, down from a $1.59 per share profit in the prior year. Revenues for the three months ended June 30 plunged nearly 58 per cent to $4.3 billion, compared with $10.1 billion in the second quarter of 2019.
Heroux-Devtek Inc. (TSX:HRX). Up 37 cents, or 3.76 per cent, to $10.20. Heroux-Devtek Inc. swung to a net loss in its latest quarter as the landing gear manufacturer felt the impact from severe turbulence to the global aerospace industry caused by the COVID-19 pandemic. The Quebec-based company says it lost $1.3 million or four cents per share in its fiscal first quarter, down from a net profit of $6.4 million or 18 cents per share a year earlier. Adjusted profits were cut in half, reaching $3.38 million or nine cents per share, compared with $6.96 million or 19 cents per share in the prior year. Revenues for the three months ended June 30 decreased 10.5 per cent to $128.3 million, from $143.4 million in the first quarter of 2019.
Western Forest Products Inc. (TSX:WEF). Unchanged at $1.05. Western Forest Products Inc. beat expectations as the company earned $8.5 million in its latest quarter on a 17-per-cent drop in revenues over uncertainty related to COVID-19. The Vancouver-based company says it earned two cents per share in the second quarter, compared with zero cents per share or a loss of $700,000 a year earlier. Revenues for the three months ended June 30 were $256.3 million, down from $310.3 million in the prior year. Western Forest Products was expected to report no profits on $153.5 million of revenues, according to financial markets data firm Refinitiv.
Sun Life Financial Inc. (TSX:SLF). Up $1.02, or nearly 1.89 per cent, to $55.00. Sun Life Financial Inc. says the COVID-19 pandemic is to blame for troubles in its latest quarter. Executives at the Toronto-based insurer said Friday that the health crisis had pushed down insurance sales in Canada by 22 per cent and lowered interest rates. Sun Life reported Thursday that its net income fell to $519 million or 88 cents for the period ended June 30, compared with $595 million or $1.00 per share in the same quarter the previous year. Sun Life's net income was below the $657.57 million or $1.06 per share analysts expected, according to financial markets data firm Refinitiv.
Interfor Corp. (TSX:IFP). Up 40 cents, or nearly 2.58 per cent, to $15.92. Interfor Corp. says it earned $3.2 million in profits in its latest quarter despite lower revenues. The Vancouver-based forest products producer says its net income equalled five cents per share in the second quarter, compared with a net loss of 17 cents per share or $11.2 million a year earlier. Adjusted profits came in at $10.6 million or 16 cents per share, versus a loss of $16.2 million or 24 cents per share in the second quarter of 2019. Revenues for the three months ended June 30 decreased 17.5 per cent to $396.8 million from $481.3 million a year earlier.
The Second Cup Ltd. (TSX:SCU). Down eight cents, or 8.16 per cent, to $0.90. The Second Cup Ltd. plans to close more stores, sell more of its product in grocery stores and open gas station drive-thrus as it looks to recover from the deep hit absorbed during the COVID-19 pandemic. The Mississauga, Ont.-based beverage company says a pilot program will see it open at three Petro-Canada locations in Ontario this year. Second Cup says the retail sales will supplement its own e-commerce platform that launched in April as much of its coffee house network was forced to close. It is also moving into "non-traditional" cafe locations like hospitals, airports, train stations and other transportation venues, with 14 locations scheduled to open across Canada in the next 18 months.
Domtar Corp. (TSX:UFS). Up $7.98, or nearly 26.63 per cent, to $37.95. Domtar Corp. is launching a strategic review of its personal care business, nine years after launching the diaper and incontinence operations following an acquisition. The forest products company says it is exploring "a range of value-creating alternatives" with the help of outside advisers, which include a sale of the business. Domtar also says it will close and repurpose several U.S. facilities, affecting about 780 employees, as it looks to cut US$200 million in annual costs.
Parkland Corp. (TSX:PKI). Up $1.24, or 3.35 per cent, to $38.28. Service station operator Parkland Corp. is reporting higher-than-expected second quarter earnings despite pandemic-related hits to its sales volumes. The Calgary-based company says net income in the three months ended June 30 was $32 million on revenue of $2.7 billion, down from $105 million on revenue of $4.85 billion in the same period a year ago. Its net earnings per diluted share were 21 cents, compared with 70 cents last year. Analysts had expected a loss of 38 cents, according to financial data firm Refinitiv.
Enerplus Corp. (TSX:ERF). Up nine cents, or 2.31 per cent, to $3.98. North Dakota oil and gas producer Enerplus Corp. says it is restoring crude production halted during the pandemic-linked oil price crash in May despite a court ruling that the Dakota Access Pipeline must be shut down. The Calgary-based company says it is confident that crude-by-rail shipping from the state can be ramped up if the decision, stayed by an appeal court earlier this week, is restored and the pipeline is out of commission for a longer term. Enerplus reported a second-quarter net loss of $609 million or $2.74 per share due to non-cash impairments of $630 million on assets and goodwill as a result of market volatility and low commodity prices, compared with a net profit of $85 million in the same period of 2019. Excluding those impairments and other non-cash or non-recurring items, its adjusted net loss was $41.2 million, versus adjusted net income of $74.4 million a year earlier.
This report by The Canadian Press was first published Aug. 7, 2020.
The Canadian Press