TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,947.07, down 22.12 points.)
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up eight cents, or 0.11 per cent, to $74.65 on 11.6 million shares.
Argonaut Gold Inc. (TSX:AR). Materials. Down five cents, or 10.87 per cent, to 41 cents on 11 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 24 cents, or 0.59 per cent, to $40.38 on 9.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up eight cents, or 0.15 per cent, to $53.39 on 6.2 million shares.
Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Down three cents, or 0.31 per cent, to $9.78 on 5.7 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 11 cents, or 1.22 per cent, to $8.91 on 5.1 million shares.
Companies in the news:
Crescent Point Energy Corp. — Crescent Point Energy Corp. says it has signed an agreement with Paramount Resources Ltd. to acquire additional Kaybob Duvernay assets for $375 million. The Calgary oil and gas company says those assets include 130 net drilling locations across almost 65,000 net acres of Crown land. They produce more than 4,000 barrels of oil equivalent a day and include a gas plant, pipelines, water infrastructure and seismic data. Crescent Point says they are located adjacent to one of its land bases and will generate high-return drilling inventory and development opportunities.
Turquoise Hill Resources Ltd. (TSX:TRQ). Up 39 cents, or 0.92 per cent, to $42.93. Turquoise Hill Resources Ltd. shareholders have given their support to a $4.24-billion takeover offer by Rio Tinto Group. The Montreal-based mining company says 60.5 per cent of minority shareholders voted in favour of the deal and overall, the agreement got 87 per cent support. The arrangement required the approval of a little more than 66 per cent of votes cast by the shareholders, including Rio Tinto, and the approval of a simple majority of the votes cast by minority shareholders, excluding Rio Tinto and its affiliates. Under the deal, Rio Tinto International Holdings Limited would acquire about 49 per cent of Turquoise Hill shares Rio Tinto and its affiliates do not currently own for $43 per share.
CIBC (TSX:CM). Up 32 cents, or 0.55 per cent, to $58.52. CIBC says it is implementing a discount for shareholders who sign up for a dividend reinvestment plan.The announcement comes a day after the federal banking regulator increased the capital reserves banks need to keep on hand by half a percentage point. The Office of the Superintendent of Financial Institutions said it increased the domestic stability buffer over concerns of heightened systemic risk including high household debt levels. Discounts on reinvestment plans are a way to increase capital on hand by selling shares rather than paying out dividends as cash. RBC announced its own discount for reinvestments at the end of November, saying at the time it expects the move to boost its capital by about $2 billion, while TD and BMO also have discount plans in place.
This report by The Canadian Press was first published Dec. 9, 2022.
The Canadian Press
