TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,173.352, up 8.39 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up nine cents or 0.35 per cent, to $25.71 on 5.1 million shares.
Tilray Inc. (TSX:TLRY). Healthcare. Up $4.02 or 25.07 per cent, to $20.05 on 4.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up eight cents or 0.79 per cent, to $10.17 on 4.4 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Up 98 cents or 7.85 per cent, to $13.46 on 4 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up six cents or 1.4 per cent, to $4.33 on 3.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up four cents or 2.8 per cent to $1.47 on 3.7 million shares.
Organigram Holdings Inc. (TSX:OGI). Healthcare. Up 33 cents or 10.68 per cent to $3.42 on 3.4 million shares.
Companies in the news:
Tilray Inc. (TSX:TLRY) Up $4.02 or 25.07 per cent, to $20.05 — Tilray Inc.'s share price surged 25 per cent Wednesday as investors rewarded the cannabis company for a strong outlook and fundamentals. Tilray's chief executive pointed to COVID-19 lockdowns for more than $100 million in revenue losses, but the company still made a profit and expects a recent merger will help it rebuild from the pandemic. Irwin Simon, who took the helm of Tilray after it merged with Aphria Inc. in May, told analysts on a conference call Wednesday that public health measures forced many cannabis stores to temporarily close and sent customers searching for product online, weighing on the company's results for the quarter ended May 31. The pandemic came as Tilray and the cannabis industry continue efforts to educate customers about their constantly expanding product lines and pushed Tilray to use social media and e-commerce to reach and entice new customers, said Simon. Despite the challenges, the company reported a US$33.6 million profit in its fourth fiscal quarter, up from a net loss of US$84.3 million during the same time last year.
Crescent Point Energy Corp. (TSX:CPG). Up six cents or 1.4 per cent, to $4.33 — Crescent Point Energy Corp. expects to generate "significant" excess cash flow this year as energy prices surge, chief executive Craig Bryksa said Wednesday. The Calgary-based company raised its 2021 production guidance after swinging to a $2.14-billion profit in the second quarter. Crescent Point says it earned $3.65 per diluted share in the quarter, compared with a loss of 27 cents per share or $145.1 million a year earlier. The company's adjusted cash flow totalled $387.8 million during the second quarter, or $0.66 per share diluted, well above analysts' predictions of $0.62 per share. Bryksa said the company will use the extra cash flow to increase the strength of its balance sheet while also looking to return additional value to shareholders through an evaluation of its current dividend. On Wednesday, the company declared a quarterly cash dividend of a quarter cent per share to be paid on Oct. 1. Crescent Point's adjusted profits for the three months ended June 30 were $117.6 million or 20 cents per share, up from a loss of $27.9 million or five cents per share in the second quarter of 2020.
This report by The Canadian Press was first published July 28, 2021
The Canadian Press