TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (22,269.12, up 197.41 points):
Enbridge Inc. (TSX:ENB). Energy. Up 91 cents, or 1.86 per cent, to $49.83 on 12.9 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.03, or 1.89 per cent, to $55.60 on 11.9 million shares.
Lundin Mining Corp. (TSX:LUN). Mining. Down 33 cents, or 2.06 per cent, to $15.67 on 10.2 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 22 cents, or 0.78 per cent, to $28.41 on 9.6 million shares.
Kinross Gold Corp. (TSX:K). Mining. Down three cents, or 0.27 per cent, to $11.07 on 8.8 million shares.
Barrick Gold Corp. (TSX:ABX). Mining. Down 17 cents, or 0.73 per cent, to $23.25 on 7.7 million shares.
Companies in the news:
BRP Inc. (TSX:DOO). Vehicles. Down $5.53, or 6.10 per cent, to $85.16. BRP Inc. said it will further cut production this year after sagging demand for Ski-Doos pushed the powersport company to its first quarterly loss since 2017. Chief executive José Boisjoli said “unfavourable” conditions last season — the warmest winter on record in Canada and the United States — hurt retail sales, with unsold Ski-Doos accounting for nearly half of the buildup in overall stock at its dealers. The softer sales and price reductions at BRP resulted in a 16-per-cent year-over-year revenue drop to $2.03 billion in the quarter ended April 30, marking a tough comedown from COVID-19 highs.
Laurentian Bank of Canada. (TSX:LB). Finance. Down $1.74, or 6.52 per cent, to $24.95. Laurentian Bank of Canada’s chief executive says it’s launching a new strategic plan meant to make the company “stronger, sustainable, and more profitable.” The Montreal-based financial institution announced the move Friday, saying the plan will position the company as an alternative bank for young and middle-class customers who are “underserved or under appreciated” by rivals. The plan comes weeks after a layoffs announcement and as the bank has struggled to turn itself around after putting itself on the market but failing to find a buyer. Its latest earnings, which were also revealed Friday, showed the bank incurred a loss of $117.5 million in its second quarter, compared with net income of $49.3 million a year earlier.
This report by The Canadian Press was first published May 31, 2024.