TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,063.17, up 333.51 points.)
Argonaut Gold Inc. (TSX:AR). Materials. Up 7.5 cents, or 17.6 per cent, to 50 cents on 16.7 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down 71 cents, or 0.9 per cent, to $82.44 on 8.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up $1.09, or 13.1 per cent, to $9.43 on 8.9 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up eight cents, or 3.8 per cent, to $2.19 on 7.5 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up $1.78, or 2.8 per cent, to $64.73 on 7.3 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 49 cents, or 8.8 per cent, to $6.07 on seven million shares.
Companies in the news:
Suncor Inc. (TSX:SU). Up 86 cents or two per cent to $43.31. A worker has died in an incident at Suncor Energy Inc.'s Base Mine in Alberta. The Calgary-based energy company confirmed Thursday that a contractor was killed Thursday morning at the site north of Fort McMurray. The victim's name was not released, but Suncor spokesman Leithan Slade said next of kin has been informed. The fatality was the latest in a string of workplace deaths at the company. Since 2014, there have been at least 12 deaths at Suncor sites, more than all of its oilsands rivals combined. The spate of fatalities has caught the attention of activist investor Elliot Investment Management, who earlier this spring pointed a finger at Suncor's safety record as part of its case for an overhaul of the company's board and management. In May, Suncor CEO Mark Little said the company is already making changes, including a third-party safety review, bringing on new management including former LNG Canada CEO Peter Zebedee (now Suncor's executive vice-president of mining and upgrading), and incorporating new fatigue management and collision avoidance technology at its oilsands sites to reduce risk to workers and contractors.
Air Canada (TSX:AC). Up 19 cents or 1.2 per cent to $16.66. Passengers and advocates say Air Canada is giving them the runaround on refunds, compensation and reasons cited for flight delays and cancellations — including a case of harsh weather highlighted nearly two weeks in advance. Despite thousands of scrapped flights and late arrivals, customers are struggling to file successful complaints and navigate the nuances of complex regulations amid the overwhelming surge in summer travel. The country's largest carrier informed some passengers their flight to Lisbon would be delayed due to "bad weather," 12 days before it was slated to leave Montreal on July 17. Another traveller recently received a $60 "eCoupon" due to a days-long baggage delay rather than the direct luggage-fee refund she's entitled to under both federal rules and Air Canada's passenger-carrier contract. On Tuesday, the airline cancelled a flight from Nashville to Toronto citing a "technical issue." But data on tracking service Flightradar24 shows the same plane that was scheduled to fly into Nashville for the trip instead took off for Boston an hour after the original departure time, despite the stated mechanical problem.
Crescent Point Energy Corp. — Crescent Point Energy Corp. is raising its quarterly dividend after announcing it has sold off some of its non-core assets and reached its net debt target ahead of schedule. The Calgary-based oil company announced Thursday it has completed the sale of its non-core Viking and East Shale Duvernay assets for $300 million. Crescent Point says proceeds from the sale of the assets, which include approximately 4,000 barrels of oil production per day, are being used to pay down the company's debt. In a news release, Crescent Point said continued improvement in the company's financial position and outlook will allow it to increase its shareholder returns. On a quarterly basis and beginning in the third quarter of 2022, Crescent Point will target the return of up to 50 per cent of its discretionary excess cash flow to shareholders. The company said it will now make a base quarterly payment to shareholders of eight cents per share. The new dividend will be paid on Oct. 3 to shareholders of record on Sept. 15. In May, Crescent Point raised its quarterly dividend to 6.5 cents per share from 4.5 cents.
This report by The Canadian Press was first published July 7, 2022.
The Canadian Press
