TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,097.52, down 12.53 points.)
Royal Bank of Canada (TSX: RY) Financials. Down 44 cents, or 0.35 per cent to $125.86 on 10.3 million shares
Orea Mining Corp. (TSX: OREA) Materials. Up 3 cents, or 33.3 per cent to 12 cents on 8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 26 cents, or 1.07 per cent, to $24.02 on 6.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.03 per cent, to $1.45 on 6.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up four cents, or 0.08 per cent, to $48.61 on 5.5 million shares.
Tamarack Valley Energy Ltd. (TSX: TVE). Energy. Up 12 cents or 5.02 per cent, to $2.51 on 3.9 million shares.
Companies in the news:
Precision Drilling Corp. (TSX:PD). Down 5 cents to $42.84. Precision Drilling Corp. tripled its Canadian rig count in the second quarter, even as its net loss surged to $75.9 million because of compensation charges. The Calgary-based company lost $5.71 per diluted share, compared with a loss of $3.56 per share or $48.9 million a year earlier. But Precision's revenues for the three months ended June 30 increased 6.1 per cent year-over-year to $201.4 million from $189.8 million, due to higher oil and natural gas prices and an improved outlook for the Canadian energy sector. Precision, which is the largest drilling rig contractor in the country, currently has 52 operating drilling rigs in Canada compared to 13 this time last year, Neveu said. The current rig count exceeds both 2019 and 2018 levels. Neveu said Precision has several more rig activations planned through the third quarter and expects its rig count to reach the upper 50s as the company's customers prepare for a busier 2022. Drilling rig utilization days increased 199 per cent in Canada in the second quarter of 2021 compared with the second quarter of 2020
Exfo Inc. (TSX:EXF). No change at $7.45. The board of director of Exfo Inc. has decided not to pursue an unsolicited takeover proposal from competitor Viavi Solutions Inc. after its controlling shareholder rejected anything but his deal to take the company private. A special meeting will be held Aug. 13 to vote on the June 7 proposal from founder and majority shareholder Germain Lamonde. Under the agreement, the company says shareholders will receive US$6 per subordinate voting share, representing a 62 per cent premium from where the shares were in the previous trading day. Lamonde controls 61.46 per cent of Exfo outstanding shares and 93.53 per cent of voting rights. Exfo's board, helped by legal advisers and following the unanimous recommendation of independent members, says it will not pursue the Viavi proposal because the "unambiguous statements" from Lamonde mean it can't be completed and is there not a "superior proposal" under terms of the existing proposal. Viavi submitted a bid of US$4.75 per share in cash last November, which was increased to US$5.25 last May.
This report by The Canadian Press was first published July 22, 2021.