TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,201.28, down 26.75 points.)
Toronto-Dominion Bank (TSX:TD). Financials. Up 72 cents, or 0.87 per cent, to $83.60 on 13.3 million shares.
Royal Bank of Canada. (TSX:BNS). Financials. Up 48 cents, or 0.41 per cent, to $117.59 on 10.3 million shares.
Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Down two cents, or five per cent, to 38 cents on 9.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down five cents, or 0.19 per cent, to $26.08 on 8.4 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 13 cents, or 0.34 per cent, to $38.44 on 7.9 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 3.13 per cent, to 93 cents on 7.35 million shares.
Companies in the news:
Aphria Inc. (TSX:APHA). Down $2.89, or 14.19 per cent, to $17.47. Lockdowns enacted by Canadian provinces to quell the spread of COVID-19 hampered Aphria's third quarter, the Leamington, Ont.-based cannabis company said Monday. It reported strict measures applied because of spiking virus cases contributed to a loss in its latest quarter compared with a profit a year ago. Ontario, added chief financial officer Carl Merton, was in lockdown virtually every day during the quarter, while Alberta and British Columbia experienced long shutdowns, too. In Germany, where Aphria has a cultivation facility in Neumunster, lockdowns were also rife and in southwestern portions of the U.S. there were no shutdowns but significantly less on-premise business, Merton said. The lockdowns were coupled with a reduction in demand for cannabis products as provincial boards lowered their inventory levels. They had previously forecast cannabis market growth. As a result, Aphria received about $5 million in product returns. Aphria reported a $361-million loss in the period ended Feb. 28 compared with a profit of $5.7 million in the same quarter a year earlier. The result included an unrealized loss of $264.8 million related to convertible debentures compared with a gain of $23.1 million a year ago. On an adjusted basis, Aphria said it lost $47.9 million or 15 cents per share for the quarter compared with an adjusted loss of $9.8 million or four cents per share in the same quarter last year. Net revenue in what was the company's third quarter totalled $153.6 million, up from $144.4 million.
Tamarack Valley Energy Ltd. (TSX:TVE). Up 11 cents, or 4.87 per cent, to $2.37. In another sign of ongoing Canadian oilpatch consolidation, Tamarack Valley Energy said Monday it has agreed to buy private Anegada Oil Corp. for a net $494 million. The Calgary-based oil and gas producer says it will pay $248 million in cash and assumed debt (after deducting proceeds from a royalty sale) and issue about $246 million in shares at a deemed price of $2.34 each for Anegada, which produces about 11,800 barrels of oil equivalent per day from the Charlie Lake area of northwestern Alberta. Tamarack Valley also said it has sold a two per cent royalty on its Charlie Lake assets for $32 million to Topaz Energy Corp., a company created by Tourmaline Oil Corp. to hold petroleum processing and handling assets and taken public in a $250-million initial public offering in October. Last month, Tamarack Valley announced the close of two other acquisitions for about $135 million, including the purchase of private Woodcote Petroleum Inc. for cash and shares. The deals were backed by the sale of two four-per-cent royalties to Topaz. At the same time, Tamarack Valley issued 30.3 million shares for gross proceeds of about $68 million. Tamarack Valley said Monday its 2021 capital budget has been raised from about $127 million to $170 million and it expects to have average production this year of 33,000 boe/d, up from 26,000 boe/d.
Bank of Montreal (TSX:BMO). Up 83 cents, or 0.72 per cent, to $115.72. BMO Financial Group has signed a deal to sell its asset management business in Europe, the Middle East and Africa (EMEA) to Ameriprise Financial Inc. for $1.09 billion. The companies also announced a new strategic relationship between BMO and Columbia Threadneedle Investments, Ameriprise's global asset management business. In a separate deal in the U.S., some BMO asset management clients will have the chance to move to Columbia Threadneedle Investments, if they agree. The terms of the U.S. agreement were not disclosed. BMO's North American Wealth Management clients will also be offered the opportunity to access a range of Columbia Threadneedle investment management solutions. BMO expanded into Europe, Asia and the Middle East with its purchase of U.K.-based F&C Asset Management in 2014. BMO’s European fund range comprises publicly traded investment trusts, including Foreign and Colonial (F&C) Investment Trust. Columbia Threadneedle said BMO's global asset management includes specialist ESG products, locations in the Netherlands and U.K., and direct real estate capability based in Germany and France. Joanna Rotenberg, group head of BMO Wealth Management, said the company will focus on its North American Wealth businesses, including its asset management business in Canada. BMO expects to take a $745-million writedown of goodwill after tax related to deal in the second quarter of its financial year, it said. The all-cash transaction will add $124 billion of AUM in Europe, said Ameriprise. The transaction is expected to close by the end of this year.
This report by The Canadian Press was first published April 12, 2021.
The Canadian Press