TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,885.94, up 307.64 points.)
Barrick Gold Corp. (TSX:ABX). Materials. Down six cents, or 0.28 per cent, to $21.10 on 14.5 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 17 cents, or 0.43 per cent, to $39.39 on 13.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 57 cents, or 2.41 per cent, to $24.19 on 12.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up nine cents, or 0.16 per cent, to $56.04 on 10.6 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 98 cents, or 1.44 per cent, to $68.84 on 6.3 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up 61 cents, or 0.97 per cent, to $63.26 on 6.2 million shares.
Companies in the news:
West Fraser Timber Co. Ltd. (TSX:WFG). Up $2.40, or 2.08 per cent, to $117.71. West Fraser Timber Co. Ltd. says it is cutting a shift at three B.C. mills for a loss of 147 jobs as it reduces production in part because of lack of timber supplies. The wood products company says the shift reductions will mean a loss of 77 jobs at its Fraser Lake Sawmill, 15 positions at Williams Lake Lumber and 55 jobs at Quesnel Plywood. The job cuts, expected to take place over the fourth quarter, come as the company permanently cuts about 170 million board feet of combined production at its Fraser Lake and Williams Lake sawmills and about 85 million square feet of plywood production at its Quesnel operation. The Vancouver-based company says it expects to reduce the impact on affected employees by providing work opportunities at other West Fraser operations. Access to timber has become an increasing challenge in British Columbia as the mountain pine beetle, wildfires and other issues hit supplies, while West Fraser notes that transportation constraints have also reduced its ability to access markets.
TC Energy Corp. — TC Energy Corp. says it has closed a $1.8-billion bought deal offering of common shares. The Calgary-based company says it will use the proceeds to fund costs associated with the construction of the Southeast Gateway Pipeline, a US$4.5-billion offshore natural gas pipeline in the southeast region of Mexico. The company says pending this use, it may also use the proceeds to pay down company debt or invest in short-term liquid investments. RBC Capital Markets and Scotiabank were lead underwriters for the deal announced Aug. 4, purchasing and selling to the public 28.4 million TC Energy common shares. The offering price was set at $63.50 per common share.
Metro Inc. (TSX:MRU). Down $1.45, or 2.06 per cent, to $68.78. Workers at Metro Inc. are putting in overtime to keep stores open as the company grapples with an ongoing labour crunch, the Montreal-based grocery and drugstore retailer said Wednesday. In a conference call to discuss the company’s third-quarter results, Metro president and CEO Eric La Flèche said there’s a lot of open positions out there and not enough workers to fill them. He declined to provide an exact number of vacancies across the company’s warehouses and stores, which include conventional supermarkets like Metro and Metro Plus, discount grocery chains Super C in Quebec and Food Basics in Ontario as well as drugstores Jean Coutu and Brunet.
This report by The Canadian Press was first published Aug. 10, 2022.