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Most actively traded companies on the TSX

TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange:

Toronto Stock Exchange (14,270.09, down 688 points).

Cenovus Energy Inc. (TSX:CVE). Energy. Down nine cents, or 2.12 per cent, to $4.16 on 23.9 million shares.

Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.30, or 5.89 per cent, to $20.76 on 17.7 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Down $1.84, or 6.63 per cent, to $25.90 on 13.8 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Down $1.11, or 5.41 per cent, to $19.41 on 11.7 million shares.

Crescent Point Energy Corp. (TSX:CPG). Energy. Down 27 cents, or 15.61 per cent, to $1.46 on 11.1 million shares.

Toronto-Dominion Bank (TSX:TD). Financials. Down $2.20, or 3.65 per cent, to $58 on 8.85 million shares.

Companies in the news:

Air Canada (TSX:AC). Down $3.82 or 12.2 per cent to $27.40. Air Canada is cancelling an order for 11 Boeing 737 Max aircraft amid ongoing questions about the safety of the grounded jet. Canada's largest airline says it recently cut back on a 2013 deal to buy 61 of the beleaguered planes, reducing the total to 50. Despite the cancellation, Air Canada says it is "fully committed" to the Max and that the move reflects "evolving, long-term fleet planning requirements." The Canadian government and countries around the world banned the 737 Max last year following two crashes in five months that killed all 346 people on board, including 18 Canadians. The airline also says travellers can rebook recently purchased flights that depart before May without incurring a fee as part of the airline's latest response to the novel coronavirus outbreak.

Seven Generations Energy Ltd. (TSX:VII). Down 39 cents or 15.8 per cent to $2.08. A pair of big names in Canada's oilpatch is cutting their capital spending plans in the wake of the sharp plunge in oil prices. Seven Generations Energy Ltd. is lowering its 2020 capital investment budget by $200 million or 18 per cent to $900 million. It says the reduction reflects a temporary deferral of planned activity that will allow it to high-grade drilling locations and improve efficiencies. Seven Generations's production for 2020 is expected to average between 185,000 and 190,000 barrels of oil equivalent per day, down from earlier guidance for between 200,000 and 205,000. Meanwhile, MEG Energy Corp. is cutting its 2020 capital spending plan to $200 million from the $250 million in announced in November 2019.

Bonterra Energy Corp. (TSX:BNE). Down 30 cents or 21.4 per cent to $1.10. Bonterra Energy Corp. is suspending its dividend in the face of the volatility and weakness in global energy markets. The company says its focus remains on protecting the balance sheet, preserving the inherent value of its assets and retaining financial flexibility. Bonterra has been paying a monthly dividend of a penny per share. The decision came as Bonterra reported a profit of $21.9 million or 66 cents per share for 2019 compared with a profit of $7.2 million or 22 cents per share in 2018. Revenue totalled $202.7 million last year compared with $223.4 million in 2018. Production amounted to 12,305 barrels of oil equivalent per day for the year, down from 13,206 in the same period a year earlier.

Metro Inc. (TSX:MRU). Down $1.73 or 3.1 per cent to $54.44. Metro Inc. announced plans to spend $420 million over five years to build a new, automated distribution centre for fresh and frozen products near Montreal and expand a produce and dairy products distribution centre in Quebec. The company says the new distribution centre in Terrebonne, Que., just north of Montreal will open in 2023. The expansion of the Laval distribution centre will be complete in 2024. The produce and dairy products distribution centre in Laval will be expanded to handle an increased volume of fruits and vegetables. Dairy products will then be distributed from the new Terrebonne facility.

This report by The Canadian Press was first published March 11, 2020.

News from © The Canadian Press, 2020
The Canadian Press

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