TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,930.83, down 154.77 points.)
Toronto-Dominion Bank (TSX:TD). Financials. Down 30 cents, or 0.3 per cent, to $100.19 on 16.6 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up 41 cents, or 0.6 per cent, to $72.31 on 10 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Up 68 cents, or 0.8 per cent, to $89.22 on 8.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 28 cents, or 1.3 per cent, to $21.35 on 8.1 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 56 cents, or 5.9 per cent, to $8.96 on 7.1 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down $1.78, or 2.2 per cent, to $78.20 on six million shares.
Companies in the news:
Suncor Energy Inc. (TSX:SU). Down 51 cents or 1.2 per cent to $41.22. Suncor Energy Inc. is getting out of the wind and solar business, even as a new UN report on climate change says wind and solar technologies are the two best avenues to reduce global greenhouse gas emissions and limit the planet's warming to a critical 1.5 C. The Calgary-based energy giant — which has been involved in renewable energy production for two decades — announced Monday its plans to divest its wind and solar assets to focus on hydrogen and renewable fuels instead. In 2002, Suncor partnered with Enbridge to build one of the first renewable energy projects in Canada. Since then, Suncor has developed eight wind power projects in three provinces — Saskatchewan, Alberta and Ontario. But in a news release, the company — which has set a goal of achieving net-zero emissions by 2050 — said it will sell those assets in order to bring more "fit and focus" to its portfolio.
Bank of Nova Scotia — Scotiabank faced criticism for not moving fast enough on climate change at the bank’s annual general meeting, while prepared remarks for chief executive Brian Porter, who missed the meeting due to COVID-19, focused especially on the economic challenges faced by Canadians. Speaking at the bank's 190th AGM Tuesday at the Scotiabank Centre, the Trottier Family Foundation, a Scotiabank shareholder, commended the bank for acknowledging climate change as a top risk, but said it was not acting with enough urgency. Following this, a proxy holder brought up the bank's approach to Scope 3 greenhouse-gas emissions and what they believe is a lack of reduction targets in the bank's net-zero plan. Meanwhile, Greenpeace activists attempted to disrupt the meeting, criticizing Scotiabank for its approach to fossil fuels and membership in the Canadian Association of Petroleum Producers, an oil lobby group. The bank and lobby group held an oil and gas conference together in Calgary on Tuesday.
Kinross Gold Corp. (TSX:K). Down 20 cents or 2.7 per cent to $7.30. Canadian miner Kinross Gold Corp. is selling all of its assets in Russia as a growing number of companies withdraw from the country following the invasion of Ukraine. The Toronto-based gold miner said Tuesday it's selling 100 per cent of its Russian assets to the Highland Gold Mining group of companies and its affiliates for US$680 million in cash. Kinross owns the Kupol underground mine in the country's eastern Chukotka region and surrounding exploration licences as well as the Udinsk development-stage project in the Khabarovsk region. The company said Highland Gold is one of the largest gold mining companies in Russia with mining operations in both of the areas where Kinross has assets. The transaction is subject to the approval of the Russian government.
This report by The Canadian Press was first published April 5, 2022.
The Canadian Press
