TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,222.74, down 35.58 points.)
Athabasca Oil Corp. (TSX:ATH). Energy. Up 10 cents, or four per cent, to $2.59 on 14.5 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Down 25 cents, or 0.3 per cent, to $76.64 on 13 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 49 cents, or 5.1 per cent, to $10.14 on 9.9 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.17, or 2.5 per cent, to $47.13 on 9.2 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down eight cents, or 0.1 per cent, to $84.77 on 8.8 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 93 cents, or 3.7 per cent, to $26.18 on 8.4 million shares.
Companies in the news:
Bank of Nova Scotia (TSX:BNS) — Marketing experts say Scotiabank's move to pause its sponsorship of Hockey Canada points to the growing role the corporate world plays in advancing social change. Scotiabank's move comes after the federal government froze public funding to Hockey Canada last week in response to its handling of an alleged sexual assault and out-of-court settlement. The bank says it will temporarily pull sponsorship dollars from the sports organization until it can prove it has taken steps to improve the culture within the sport of hockey. Toronto Metropolitan University marketing expert Joanne McNeish says Scotiabank's high-profile move will have an immediate "shock effect" within Hockey Canada. She says large corporations are increasingly using their marketing and sponsorship dollars to tackle social issues, including within the sports world. In recent years, the loss of corporate sponsorships was a major factor behind the decision of some North American pro sports teams to change their racist team names.
Teck Resources Ltd. (TSX:TECK.B). Up 58 cents, or 1.4 per cent to $42.76. Teck Resources Ltd. has announced a carbon capture utilization and storage pilot project at its operations in Trail, B.C. The plant will capture three tonnes per day of carbon dioxide from the acid plant flue gas at the Trail operations. It will also evaluate options for the utilization and/or storage of the captured gas. Teck says if the project is successful it could be scaled up with the potential to capture over 100,000 tonnes of carbon dioxide per year. The pilot project is expected to begin operation in the second half of next year. Teck CEO Don Lindsay says it is an important step as the company works to reduce greenhouse gas emissions across its operations and achieve its net-zero goal.
Kinross Gold Corp. (TSX:K). Down 37 cents or seven per cent to $4.90. Kinross Gold Corp. said Tuesday it is making progress at its Great Bear project in Ontario and expects to declare an initial mineral resource as part of its 2022 year-end results. In an update on the project and others in the U.S., the gold miner said it expects the initial mineral estimate to be predominantly in the inferred resource category, with some indicated resources. Kinross said it has drilled approximately 83,000 metres and is on track to complete about 200,000 metres of exploration and infill drilling in 2022 on the LP Fault zone. Kinross has also increased the number of diamond drills at Great Bear to 11 from eight since its last update in May. Kinross said its latest results continue to support its view of a high-grade, world-class deposit that underpins the prospect of a large, long-life mining complex. Kinross is targeting construction by 2027 and first production by 2029 as it works to secure permits, but said it does see a potential path to "schedule compression."
This report by The Canadian Press was first published June 28, 2022.
The Canadian Press