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Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,976.01, up 245.02 points.) Cenovus Energy Inc. (TSX:CVE). Energy. Up 63 cents, or 6.24 per cent, to $10.72 on 16.6 million shares.

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:

Toronto Stock Exchange (19,976.01, up 245.02 points.)

Cenovus Energy Inc. (TSX:CVE). Energy. Up 63 cents, or 6.24 per cent, to $10.72 on 16.6 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Up $1.49, or 5.31 per cent, to $29.55 on 14.2 million shares. 

BlackBerry Ltd. (TSX:BB). Technology. Up $1.52, or 12.26 per cent, to $13.92 on 13 million shares.

Inter Pipeline Ltd. (TSX:IPL). Energy. Up $1.36, or 7.75 per cent, to $18.91 on 7.9 million shares.

Crescent Point Energy Corp. (TSX:CPG). Energy. Up 33 cents, or 6.52 per cent, to $5.39 on 7.6 million shares.

Baytex Energy Corp. (TSX:BTE). Energy. Up 17 cents, or 8.5 per cent, to $2.17 on 7.3 million shares.

Companies in the news: 

Pembina Pipeline Corp. (TSX:PPL). Down $1.08 or 2.8 per cent to $37.81. Pembina Pipeline Corp. has signed a friendly deal to buy Inter Pipeline Ltd. for $8.3 billion in stock, surpassing a hostile bid by Brookfield Infrastructure Partners. Under the deal, Inter Pipeline shareholders will receive half a Pembina share for each share of Inter Pipeline that they own. The offer is valued at $19.45 per Inter Pipeline share based on the closing price of Pembina shares on Monday. Inter Pipeline shares closed at $17.55 but increased $1.36 or 7.8 per cent to $18.91 on the Toronto Stock Exchange. The deal tops the offer made by Brookfield that was valued at $16.50 per share. In March, CEO Chris Bayle said the Brookfield bid undervalued their business. The boards of Pembina and Inter Pipeline have unanimously approved the deal, which also requires approval by at least two-thirds of Inter Pipeline shareholders. A majority vote by Pembina shareholders is also needed.

Canopy Growth Corp. (TSX:WEED). Down 92 cents or three per cent to $29.33. Canopy Growth Corp. is continuing to pin its hopes on the U.S. as competition in Canada's cannabis industry intensifies amid a wave of mergers and acquisitions. The Smiths Falls, Ont.-based cannabis company said Tuesday that it remains focused on advancing its U.S. operations and is encouraged by pot reforms sweeping the country. In recent months, the U.S. House passed an act aimed at giving cannabis companies more access to banks, a bill was introduced that would decriminalize cannabis, New York pursued adult-use legalization and federal pot legalization is gaining support. Canopy and its competitors have been increasingly turning their attention to the U.S. because they believe they can quickly apply what they've learned from Canada's legalization process to the U.S. Canopy's net loss attributable to the corporation totalled nearly $700 million or $1.85 per diluted share in its fourth quarter. The result compared with a loss of $1.3 billion or $3.72 per diluted share in the same quarter last year. Net revenue for the period ended March 31 grew to $148.4 million, up from $107.9 million a year earlier.

Bank of Nova Scotia. (TSX:BNS). Down 33 cents to $80.88. Bank of Nova Scotia believes an economic rebound is on its way this year, but says recovery might be uneven across the countries it operates in. While Canada, the U.S. and some Latin American countries have seen success with widespread vaccination efforts and reopening is on the horizon, the bank's chief executive Brian Porter said Tuesday that others are falling behind. Porter explained that while Mexico and Chile have returned to pre-COVID level of earnings, Peru continues to struggle with effects of the pandemic. The uneven nature of economic recovery will be a key issue for the bank to manage as it looks to emerge from the health crisis and uncover even more opportunities to deploy the massive reserves it built up earlier in the pandemic, when it was preparing for people to default on loans. The bank earned $2.46 billion or $1.88 per diluted share, up from a profit of $1.32 billion or $1.00 per diluted share in the same quarter last year. Revenue totalled $7.74 billion, down from $7.96 billion. On an adjusted basis, Scotiabank said it earned $1.90 per diluted share, up from an adjusted profit of $1.04 per diluted share a year ago.

Centerra Gold Inc. (TSX:CG). Up 14 cents or 1.4 per cent to $9.92. Centerra Gold Inc. says its wholly owned subsidiaries that own and operate the Kumtor Mine have filed for Chapter 11 bankruptcy protection in the U.S. in a move to protect its interests after the government of the Kyrgyz Republic seized the mine in the central Asian country. The Toronto-based miner says the Kumtor Gold Co. and Kumtor Operating Co. started the filing in the Southern District of New York. The court-supervised process provides for a worldwide stay of all claims against the companies. The Kyrgyz Republic issued a statement last month that it took control of the Kumtor mine because of what it said was the "abdication of its fundamental duties of care'' by Centerra. The Canadian miner has said the seizure was unjustified and initiated binding arbitration against the government. Centerra also says it is conducting a strategic review related to its ownership of KGC and KOC in light of the recent events involving the Kumtor mine.

This report by The Canadian Press was first published June 1, 2021.

The Canadian Press

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