TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,705.56, down 13.66 points.)
Bank of Nova Scotia. (TSX:BNS). Financials. Up 18 cents, or 0.23 per cent, to $79.55 on 12 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down $1.64, or 2.73 per cent, to $58.37 on 8.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up four cents, or 4.65 per cent, to 90 cents on 8.3 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up 13 cents, or 0.34 per cent, to $38.74 on 7.2 million shares.
West Fraser Timber Co. Ltd. (TSX:WFG). Materials. Up $1.52, or 1.85 per cent, to $83.53 on 6.3 million shares.
B2Gold Corp. (TSX:BTO). Materials. Down 38 cents, or 6.7 per cent, to $5.32 on six million shares.
Companies in the news:
Dialogue Health Technologies Inc. (TSX:CARE). Up $2.26, or 18.8 per cent, to $14.26. When Dialogue Health Technologies Inc. made its Toronto Stock Exchange debut Tuesday morning, there was no traditional market opening with staff packing a room cheering and hugging amid a shower of confetti. The Montreal telemedicine company's first day of trading was instead marked with a pre-recorded video of workers applauding from their home — a subdued celebration that belied the size of the accomplishment. The company priced its 8.34 million shares in its IPO at $12 each to generate aggregate gross proceeds of about $100 million, but its stock jumped as much as 30 per cent. For CEO Cherif Habib, the debut was five years in the making, though Dialogue is one of the rare companies to receive a boost during the COVID-19 pandemic.
Turquoise Hill Resources Ltd. (TSX:TRQ). Up two cents to $20.27. Canadian miner Turquoise Hill Resources says the operator of its Mongolian copper-gold mine has declared force majeure after shipments of copper concentrate to Chinese customers were suspended due to COVID-19 precautions at border crossings. Force majeure is a contract clause that allows a party to escape its obligations if there's an event such as a natural disaster outside of its reasonable control which prevents fulfilling them. The Montreal-based company says Oyu Tolgoi LLC, in which it has a 66 per cent stake, is reporting two cases of COVID-19 confirmed at the site, while a total of almost 10,000 tests have been negative. Earlier this month, Turquoise Hill said it expected production of 170,000 tonnes of copper and 525,000 ounces of gold in concentrates from the Oyu Tolgoi mine in 2021 from processing of both open pit and underground development mine ore. It reported 2020 copper production of almost 150,000 tonnes and gold output of 182,000 ounces.
West Fraser Timber Co. Ltd. — West Fraser Timber Co. Ltd. says it has begun producing and shipping building panels from the Chambord, Que., oriented strand board (OSB) mill it inherited with its recent $4-billion all-stock takeover of rival Norbord Inc. The start of production from the mill shut down in 2008 comes as OSB prices reach record-high levels thanks to strong housing and home renovation markets fuelled by the COVID-19 pandemic's work-from-home trend. Norbord announced in December it would reopen the mill in response to customer demand and to offset the permanent closure of its mill at 100 Mile House, B.C. It said it had invested about $71 million to prepare the mill for eventual restart since buying it in 2016 and would spend about $94 million more to finish the project. West Fraser says it expects the ramp-up to full capacity to take 18 to 24 months.
Bonterra Energy Corp. (TSX:BNE). Up 22 cents, or 5.6 per cent, to $4.17. Obsidian Energy has ended its hostile takeover attempt for Bonterra Energy Corp. The company allowed its offer to buy Bonterra to expire on Monday. Obsidian interim CEO Stephen Loukas said the economic environment has changed substantially since the company launched its offer last year. Loukas said combining at the proposed exchange ratio is no longer in the best interests of Obsidian Energy or its shareholders. Obsidian had offered two of its shares for each Bonterra share. Bonterra had repeatedly recommended shareholders reject the bid.
This report by The Canadian Press was first published March 30, 2021.
The Canadian Press
