TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,928.21, up 109.12 points.)
Great-West Lifeco Inc. (TSX:GWO). Financials. Up 38 cents, or 1.1 per cent, to $33.79 on 15.9 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 17 cents, or 5.4 per cent, to $3.32 on 14 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 49 cents, or 6.2 per cent, to $8.35 on 9.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 58 cents, or 1.1 per cent, to $52.52 on 9.7 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 67 cents, or 5.4 per cent, to $13.01 on 8.8 million shares.
Tamarack Valley Energy Ltd. (TSX:TVE). Energy. Up 31 cents, or 5.2 per cent, to $6.25 on 8.7 million shares.
Companies in the news:
Cineplex Inc. (TSX:CGX). Up five cents to $12.69. Cineplex Inc. and Scotiabank say grocery giant Empire Company Ltd. has become one of the co-owners of their Scene+ loyalty program. The theatre operator and bank say the new ownership structure will allow Scene+ members to earn and redeem points at the grocer's supermarkets, including Sobeys, Safeway, Foodland, IGA and FreshCo. The Scene+ rollout at Empire's chains will begin with stores in Atlantic Canada in 2022, but by early 2023, supermarkets across the entire country will have launched the program. At a later undisclosed date, Scene+ will be accepted at Empire's network of liquor stores in Western Canada. Empire says its stores will allow shoppers to earn Air Miles until the Scene+ program is launched in their region. Scene+ allows cardholders to rack up points when purchasing movie tickets from Cineplex, meals from Recipe Unlimited Corp. restaurants and when banking with Scotiabank. The points can be redeemed for purchases made with these businesses and others.
Shopify Inc. (TSX:SHOP). Up $23.98 or 5.3 per cent to $476.52. Shopify Inc. shareholders voted to solidify founder and CEO Tobi Lütke's voting power for as long as he is at the company andensurehe, his family and affiliates will hold 40 per cent of the company's voting power. The approval received Tuesday at the Ottawa e-commerce company's annual general meeting ushered in a new corporate governance structure to grant Lütke non-transferable founder shares. The founder share will sunset if Lütke no longer serves as an executive officer, board member or consultant whose primary job is with the company or if Lütke, his immediate family and his affiliates no longer hold a number of class A and class B shares equal to at least 30 per cent of the class B shares they currently hold. In the event of a sunset of the founder share, Lütke will also convert his remaining class B shares into class A shares. Shopify shareholders also approved Tuesday a 10-for-one split of the company's class A and class B shares, which Shopify has positioned as a way to make voting shares more affordable to a broader segment of the population and diversify its ownership base.
Cenovus Energy Inc. (TSX:CVE). Up 90 cents or three per cent to $30.95. The chief executive of Cenovus Energy Inc. says he believes the future of energy is going to be less about transition and more about diversification. Alex Pourbaix says the clash between global energy demand and the need to reduce emissions to mitigate climate change is the biggest single issue facing the oil and gas industry in 2022. He says the war in Ukraine and the resulting global energy crisis has proven that oil and gas can't easily or quickly be replaced by wind and solar. He says instead of a phaseout of fossil fuels, the next three decades are likely to feature a diverse energy mix that includes oil and gas but also hydrogen, renewables and nuclear power. Pourbaix spoke Tuesday in Calgary at the Global Energy Show, one of North America's largest energy conferences. It's the first time the show has been held in person since before the COVID-19 pandemic, and more than 30,000 people from around the world are expected to attend this week.
Barrick Gold Corp. (TSX:ABX). Up 22 cents to $25.98. Barrick Gold Corp. says it has sold its 8.5 per cent stake in Perpetua Resources Corp. The gold miner says it sold the 5,382,587 common shares in Perpetua through the facilities of the Nasdaq, Cboe, Direct Edge and NYSE-ARCA. Barrick says its gross cash proceeds totalled about $21.7 million or $4.04 per share. Idaho-based Perpetua is developing the Stibnite gold project. Barrick says it sold the shares for "investment portfolio management purposes." It says that following the sale it no longer has beneficial ownership of, or control or direction over, any shares in Perpetua.
This report by The Canadian Press was first published June 7, 2022.
The Canadian Press
