TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,907.82, down 100.38 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up three cents, or 0.1 per cent, to $37.09 on 29.4 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 62 cents, or 2.3 per cent, to $26.28 on 26.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 12 cents, or 0.2 per cent, to $52.67 on 10.4 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 12 cents, or 7.4 per cent, to $1.75 on 9.1 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down nine cents, or 0.5 per cent, to $19.51 on 9.1 million shares.
Sun Life Financial Inc. (TSX:SLF). Financials. Up 44 cents, or 0.7 per cent, to $68.12 on 8.4 million shares.
Companies in the news:
Loblaw Companies Ltd. (TSX:L). Down 32 cents to $97.85. One of Canada's biggest food manufacturers has halted shipments to the country's largest grocer in an extreme example of how inflation is impacting the food industry and driving a wedge between some retailers and suppliers. At issue is a dispute over pricing between Frito-Lay Canada and Loblaw Companies Ltd. as the maker of brands like Cheetos, Doritos, Lays, Ruffles and Sunchips tries to recoup higher costs. The situation has left the chip and snack food aisle of many Loblaw stores less full than usual or stocked with the retailer's house brands, President's Choice and No Name. Frito-Lay spokeswoman Sheri Morgan confirmed there is a "temporary disruption" with one customer after facing "unprecedented pressures" from rising costs of items including ingredients, packaging and transportation. Loblaw spokeswoman Catherine Thomas said the grocer is "laser focused" on minimizing retail price increases. The rift between Frito-Lay and Loblaw exposes deepening tensions in Canada's food industry that many experts say could worsen as supply chain challenges and inflation continue.
Centerra Gold Inc. (TSX:CG). Up 29 cents or 2.5 per cent to $11.68. Centerra Gold Inc. is looking to expand its North American footprint by signing a deal to buy Gemfield Resources LLC and its Goldfield District Project in Nevada, one of the top mining jurisdictions in the world. Under the deal with Waterton Nevada Splitter LLC, Centerra will pay a total of US$206.5 million including US$175 million in cash plus a US$31.5-million future milestone payment payable in cash or Centerra shares. Goldfield is a conventional open-pit project in late-stage development with three deposits, according to Centerra. Toronto-based Centerra said the project's significant potential comes from its large, underexplored land. Centerra operates two mines including the Mount Milligan Mine in B.C. and the Öksüt Mine in Turkey. The company told analysts that the Goldfield District Project is very similar to the Öksüt Mine, which was delivered on time and under budget by Centerra.Centerra says it has been conducting extensive due diligence on the project since 2020. Centerra also owns the Kumtor Mine in the Kyrgyz Republic, but it is currently not under the company’s control amid an ongoing dispute with the Kyrgyz government.
This report by The Canadian Press was first published Feb. 22, 2022.
The Canadian Press
