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Most actively traded companies on the Toronto Stock Exchange

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

Toronto Stock Exchange (19,456.71, up 202.15 points.)

Cenovus Energy Inc. (TSX:CVE). Energy. Up 93 cents, or 3.94%, to $24.56 on 10.9 million shares.

Athabasca Oil Corp. (TSX:ATH). Energy. Down 13 cents, or 5.37%, to $2.29 on 9.9 million shares.

Kinross Gold Corp. (TSX:K). Materials. Up 19 cents, or 4.60%, to $4.32 on 8.3 million shares.

Shopify (TSX: SHOP). Technology. Up 88 cents, or 1.95%, to $46.05 on 6.8 million shares.

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Crescent Point Energy Corp. (TSX: GIC). Energy. Up 31 cents, or 3.24%, to $9.88 on 6.8 million shares.

Manulife Financial Corporation (TSX:MFC). Financial. Up 14 cents, or 0.61%, to $23.13 on 6.4 million shares.

Companies in the news:

Canadian Pacific Railway Ltd. (TSX:CP). Up $1.01, or 1.03%, to $99.54. The Calgary-based rail operator saw profits plummet in its latest quarter due to a dismal 2021 grain harvest and soaring fuel prices since February, it said Thursday. Net income fell 39% year over year in the quarter ended June 30 despite a 7% increase in revenue. Chief Financial Officer Nadeem Velani cited rising fuel prices and “a continued grain headwind” as headwinds, partially offset by a 25% rise in container shipping revenue and increased profits for several commodities . Rising demand for potash, metals and automotive products amid still congested supply chains drove these revenue streams up 22-28% year-over-year, even as volumes potash increased by less than 3% and car loadings remained stable. However, fuel expenses topped them all, which jumped 70% or $152 million, weighing on the railroad’s bottom line.

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TC Energy Corp. (TSX: TRP). Down $1.11, or 1.57%, at $69.41. The Calgary-based energy producer posted lower second-quarter profit on Thursday. Net income attributable to shareholders was $889 million or 90 cents per diluted share in the second quarter, compared with $975 million or $1 per share a year earlier. Comparable earnings were $979 million or $1 per common share, down from $1.04 billion or $1.06 per share in the same period of 2021. Revenue for the three months ended on June 30 increased to $3.64 billion from $3.18 billion in the same quarter last year. TC Energy President and CEO Francois Poirier said the company has reached an important milestone with Coastal GasLink LP, signing revised agreements with LNG Canada that will enable the safe and rapid execution of its largest project. related to LNG. He said the 670-kilometre project is about 70% complete, with mechanical commissioning expected by the end of 2023.

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Cenovus Energy Inc. – CEO Alex Pourbaix said Thursday that inflation has been “manageable” for the energy company so far, but it’s something he’s watching. In a conference call with analysts, Pourbaix said inflation is “probably not going to materially change” the company’s investment decisions and plans over the coming year. His comments come after the Calgary-based company posted a massive increase in second-quarter profits amid rising commodity prices and higher margins. The oil producer posted net income of $2.4 billion in the second quarter, or $1.23 per basic share, from $224 million or 11 cents per share a year earlier. Revenue for the three months ended June 30 was $19.2 billion, compared to $10.58 billion in the second quarter of 2021.

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Calfrac Well Services Ltd. (TSX:CFW). Down 11 cents, or 2.26%, to $4.75. The oil services company posted a smaller loss in its latest quarter as revenue rose amid improving prices and increased activity. It said it lost $6.78 million or 18 cents per share in the second quarter, compared to a loss of $35.52 million or 95 cents per share in the same period last year. Revenue for the quarter ended June 30 was $318.51 million, up 83% from $173.77 million in 2021. Calfrac said the increase was primarily due improved activity in all of the company’s operating divisions and higher prices in North America. CEO Pat Powell said Calfrac was able to demonstrate strong progress on its financial performance during the quarter while continuing to provide quality service to its customers. Meanwhile, the company said it had made progress related to the sale of its Russian subsidiary it announced in the previous quarter and was looking to complete the transaction as soon as possible.

This report from The Canadian Press was first published on July 28, 2022.

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