TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,408.62, up 78.36 points.)
The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up 12.5 cents, or 40.98 per cent, to 43 cents on 53.9 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Up three cents, or 18.75 per cent, to 19 cents on 52.7 million shares.
The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up 7.5 cents, or 15.79 per cent, to 55 cents on 20.2 million shares.
Organigram Holdings Inc. (TSX:OGI). Health care. Up $1.35, or 32.22 per cent, to $5.54 on 20.1 million shares.
Aphria Inc. (TSX:APHA). Health care. Up $5.93, or 24.54 per cent, to $30.09 on 16.4 million shares.
NextSource Materials Inc. (TSX:NEXT). Materials. Down four cents, or 14.29 per cent, to 24 cents on 14.3 million shares.
Companies in the news:
Air Canada (TSX:AC). Down 15 cents to $21.50. In the latest sign of COVID-19's devastating toll on Canada's aviation sector, Air Canada said Tuesday that it will temporarily lay off 1,500 unionized employees as it cuts more international routes. The layoffs, which also include an unspecified number of management staff, leave Air Canada with just a fraction of its pre-pandemic workforce as the federal government announces measures such as mandatory hotel quarantines to further deter international travel. The service cuts include 17 routes to the U.S. and other international destinations, and will last until at least April 30, Air Canada said Tuesday. The earliest suspensions will go into effect as soon as Feb. 12.
SNC-Lavalin Group Inc. (TSX:SNC). Up $2.52, or 11.1 per cent, to $25.31. SNC-Lavalin Group Inc. shares surged more than 11 per cent after the company took steps to reduce risks by moving away from construction and oil to focus on its engineering services business. The gains came after the Montreal-based company signed a deal to sell its resources oil and gas business to Kentech Corporate Holdings Ltd. SNC said the sale is expected to result in a fair value writedown in the range of $260 million to $295 million. At closing, the company says the transaction is expected to generate a gain on the sale in excess of the fair value writedown, after accounting for the elimination of a foreign exchange adjustment.
Cenovus Energy Inc. (TSX:CVE). Down 32 cents, or 3.9 per cent, to $7.89. The cancellation of the Keystone XL oil export pipeline has resulted in a second oilsands company posting a multimillion-dollar impairment charge in its fourth-quarter earnings report. Calgary-based Cenovus Energy Inc. on Tuesday reported a net loss of $153 million for the three months ended Dec. 31 — including a non-cash hit of $100 million related to U.S. President Joe Biden's decision to cancel the pipeline's permit the day he took office last month. The Cenovus report, covering the quarter just before it completed its takeover of rival Husky Energy Inc. in an all-stock deal that closed Jan. 4, largely met analyst expectations.
Canopy Growth Corp. (TSX:WEED). Up $6.63, or 11.9 per cent, to $62.35. After a dramatic restructuring that included the elimination of up to 1,000 workers, Canopy Growth Corp. says profitability is on the horizon. The Smiths Falls, Ont.-based business behind the Tweed, Houseplant and Tokyo Smoke brands announced Tuesday that it expects to be profitable in the second half of its fiscal 2022. On Tuesday, Canopy announced it incurred a loss of $829.3 million in its latest quarter as it was hit by impairment and restructuring charges related to cuts it made late last year. Canopy said the third-quarter results included $416 million in impairment, restructuring and other related charges plus $291 million stemming from non-cash fair value changes, mostly driven by the company's higher stock price.
This report by The Canadian Press was first published Feb. 9, 2021.
The Canadian Press