TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,748.45, down 142.17 points.)
Canadian Pacific Railway Ltd. (TSX:CP). Industrials. Down $2.06, or 2.2 per cent, to $90.27 on 37.5 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down $1.83, or 3.5 per cent, to $51.14 on 20.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 74 cents, or 2.4 per cent, to $30.57 on 18.2 million shares.
BCE Inc. (TSX:BCE). Telecommunications. Up two cents, or 0.03 per cent, to $65.79 on 18 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 34 cents, or 1.4 per cent, to $23.67 on 13.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up five cents, or 0.1 per cent, to $48.13 on 10 million shares.
Companies in the news:
Noront Resources Ltd. (TSXV:NOT). Up 35 cents or 47.9 per cent to $1.08. Shares of Noront Resources Ltd. gained nearly 50 per cent in Monday trading after Wyloo Metals Pty Ltd. raised its offer for the company in its takeover fight with BHP. Wyloo says it is now offering $1.10 per share for the shares in Noront it does not already own, topping BHP's offer of 75 cents per share. Noront is developing several projects in the Ring of Fire region in northern Ontario. Wyloo says it owns a 37.2 per cent stake in the company and that it does not intend to support any alternate offers for the company. It says under its proposal that Noront shareholders have the option of accepting its cash offer or continuing to participate in Noront’s unrealized potential by remaining as a shareholder.
Gildan Activewear Inc. (TSX:GIL). Down 39 cents to $51.68. Gildan Activewear Inc. has signed a deal to buy Phoenix Sanford LLC, the parent company of Frontier Yarns, for US$168 million. Frontier is a producer of cotton, polyester and cotton blend yarns. It has four facilities in North Carolina employing about 800 people. Gildan says it bought about 40 per cent of Frontier’s production this year for textile manufacturing in Central America and the Caribbean. The company says the acquisition of Frontier will allow it to build on its global vertically integrated supply chain. Chief executive Glenn Chamandy says the acquisition broadens and complements Gildan's existing yarn capabilities and provides additional capacity to support long-term growth.
Suncor Energy Inc. — Suncor Energy Inc. says it expects its production next year to rise about five per cent compared with 2021. The Calgary-based company says it expects production next year to be 750,000 to 790,000 barrels of oil equivalent per day. Suncor says the production guidance comes as it ramps up production at the Fort Hills mine, partially offset by the sale of its stake in the Golden Eagle offshore operations in the United Kingdom. Refinery throughput is expected to be 430,000 to 445,000 barrels per day in 2022. The production guidance came as Suncor says it is planning $4.7 billion in capital spending for next year, down from its guidance earlier this year for up to $5 billion in 2022. The plan includes $3.2 billion to $3.4 billion in sustaining capital, including planned maintenance and tailings optimizations.
This report by The Canadian Press was first published Dec. 13, 2021.
The Canadian Press