TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,020.67, up 82.96 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up six cents, or 0.1 per cent, to $41.08 on 6.4 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Up 58 cents, or 17.3 per cent, to $3.93 on 6.4 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 12 cents, or 1.8 per cent, to $6.68 on 6.1 million shares.
Hut 8 Mining Corp. (TSX:HUT). Technology. Up 18 cents, or seven per cent, to $2.77 on six million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down three cents, or 0.1 per cent, to $22.59 on 5.6 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 12 cents, or 1.3 per cent, to $9.57 on 5.2 million shares.
Companies in the news:
BMO Financial Group (TSX:BMO). Up 89 cents to $124.86. BMO Financial Group says it has struck a deal to buy Radicle Group Inc. for an undisclosed sum as it looks to expand its emission reduction advisory services. Calgary-based Radicle is a developer of carbon offsets and helps organizations measure and reduce emissions. BMO Capital Markets chief executive Dan Barclay says in a statement that the acquisition will help the bank be its clients’ lead partner in the transition to a net-zero world. Canada’s big banks have come under criticism for their funding of the oil and gas industry, but the banks have defended their position in part by saying they plan to work with heavy emitters to reduce emissions. Carbon offsets have had a mixed history, with many questioning their effectiveness at actually reducing emissions, but Radicle notes the market is growing and continues to play an important part in curbing the effects of climate change. Radicle has 130 employees and has worked with over 4,000 clients including major oil and gas producers such as Imperial Oil, Meg Energy, TC Energy, Chevron and ConocoPhillips.
Bausch + Lomb Corp. (TSX:BLCO). Down 42 cents or 2.1 per cent to $19.44. Bausch + Lomb Corp. says Joseph Papa is stepping down as chief executive and chair of its board of directors. The eye health company says Thomas Ross Sr. has been appointed chair, while Papa will remain as CEO and a member of the board until his successor is named. Papa says he believes now is an appropriate time to transition leadership of the company. The company noted that Papa’s departure was not the result of any disagreement with the company. Bausch + Lomb is a subsidiary of Bausch Health Companies Inc., which is in the process of spinning the company off. Papa stepped down as chief executive of Bausch Health earlier this year and was replaced as chair of the company by hedge fund manager John Paulson last month.
Nutrien Ltd. (TSX:NTR). Up $1.94 or 1.9 per cent to $102.89. Nutrien Ltd. says it has entered into a deal to buy Brazilian company Casa do Adubo S.A. The Saskatoon fertilizer company says the acquisition includes 39 retail locations under the brand Casa do Adubo and 10 distribution centres under the brand Agrodistribuidor Casal. Nutrien says the deal supports its retail growth plan in Brazil and is expected to result in additional projected sales of about US$400 million, bringing its total annual sales in Latin America to about US$2.2 billion. The transaction is pending approval from the Administrative Council for Economic Defense in Brazil. Once the acquisition is complete, Nutrien will have 180 commercial units in Latin America, including customer-facing retail branches and experience centres, five industrial plants and four fertilizer blenders. Financial terms of the deal have not been disclosed.
This report by The Canadian Press was first published July 20, 2022.