TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,385.47, down 176.17):
Cenovus Energy Inc. (TSX:CVE). Energy. Up 65 cents, or 2.73 per cent, to $24.46 on 9.1 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down $1.64, or 3.35 per cent, to $47.30 on 8.5 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Up two cents, or 3.77 per cent, to 55 cents on 8.4 million shares.
Gear Energy Ltd. (TSX:GXE). Energy. Down 16 cents, or 15.5 per cent, to 87 cents on 8.0 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 45 cents, or 4.19 per cent, to $10.30 on 6.5 million shares.
Royal Bank of Canada. (TSX:RY). Finance. Down one cent, or 0.01 per cent, to $130.16 on 6.2 million shares.
Companies in the news:
Cenovus Energy Inc. (TSX:CVE). Energy. Up 65 cents, or 2.73 per cent, to $24.46. Cenovus Energy Inc. lowered its upstream production guidance for the year as it reported a second-quarter profit of $866 million, down from $2.4 billion in the same quarter last year. The profit amounted to 44 cents per diluted share, down from $1.19 per diluted share a year earlier, while revenue for the quarter totalled $12.2 billion, down from $19.2 billion in the same three months of 2022. Cenovus said upstream production in the second quarter was 729,900 barrels of oil equivalent per day, down from 761,500 a year earlier, as the company experienced production impacts due to Alberta wildfire activity and planned maintenance.
Aecon Group Inc. (TSX:ARE). Construction. Down $2.01, or 16.15 per cent, to $10.44. Aecon Group Inc. saw its stock value nosedive Thursday after quarterly earnings showed legacy construction projects continue to drag down earnings, despite a swing to profit. Aecon reported a second-quarter operating loss of $81 million stemming from two of four fixed-price legacy projects. RBC Dominion Securities analyst Sabahat Khan identified the likely culprits as the Gordie Howe bridge project and Toronto's Finch light-rail transit build. The losses owed to factors ranging from supply chain snarls to inflation, third-party delays and "unforeseeable site conditions," according to Aecon.
This report by The Canadian Press was first published July 27, 2023.
The Canadian Press
