TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,692.45, up 355.43 points.)
BlackBerry Ltd. (TSX:BB). Technology. Up 85 cents, or 4.73 per cent, to $18.81 on 12.8 million shares.
Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up half a cent, or 2.86 per cent, to 18 cents on 11.6 million shares.
Northern Dynasty Minerals Ltd. (TSX:NDM). Materials. Up 22.5 cent, or 30.82 per cent, to 95.5 cents on 10.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 17 cents, or 0.79 per cent, to $21.56 on 8.9 million shares.
Silver Elephant Mining Corp. (TSX:ELEF). Materials. Up four cents, or 8.99 per cent, to 48.5 cents on 7.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 56 cents, or 1.3 per cent, to $43.52 on 6.9 million shares.
Companies in the news:
Endeavour Silver Corp. (TSX:EDR). Up $1.33, or 21 per cent, to $7.67. Shares in some Canadian silver mining companies posted double-digit increases on Monday as the price of the shiny white metal surged to eight-year highs with some crediting promotional discussions on social media sites like Reddit. Mining company CEOs said they don't expect the price rally over the past few days to last long — but they're OK with that because prices have been increasing for more than a year due to rising demand and limited new supply. Endeavour CEO Brad Cooke said he expects the rally will be brief, but then resume the upward trend. Industrial demand for silver is expected to increase as the COVID-19 pandemic wanes and thanks to its use in solar panels, electric cars and electronic communications, he said.
BCE Inc. (TSX:BCE). Up 27 cents to $54.51. Bell Media says it has cut staff, including on-air broadcast roles, as part of a streamlining process. Bell spokesman Marc Choma says there has been a limited number of staff reductions, but did not specify how many jobs had been cut. Bell says the roles were cut due to programming decisions by Bell's radio brands as part of the company's streamlined operating structure. Bell claims to be Canada's largest radio broadcaster with 215 music channels, 109 licensed radio stations and 58 markets across the country. Last month, Bell Media confirmed it had restructured its leadership team leading to some staff departures.
Air Canada (TSX:AC). Up 40 cents, or two per cent, to $20.42. Canadians determined to fly to sunny destinations are still able to do so despite new travel restrictions announced by the federal government last week. Though Canadian airlines have temporarily suspended flights to Mexico and the Caribbean, flights departing Canadian cities to sun destinations are available aboard U.S. carriers. American Airlines and Delta Air Lines, for example, are selling tickets for flights from Toronto to Cancun, with passengers connecting through U.S. cities like Charlotte, N.C., and Philadelphia, an online search shows. The suspensions of flights to sun destinations will cost Air Canada, the country's largest carrier, around $200 million in lost revenue between now and April 30, said an analyst.
Dorel Industries Inc. (TSX:DII.B). Up 84 cents, or 5.6 per cent, to $15.70. Shares of Dorel Industries Inc. rose Monday after the group looking to take the Montreal-based company private raised its takeover offer by 10 per cent in an attempt to win the support of investors who have been critical of the bid. The company said the buyer group led by U.S.-based Cerberus Capital Management LP is now offering $16 per share for the shares not held by members of the Schwartz family, including Dorel's chief executive officer. The firm had earlier offered $14.50 per share. The increased offer was unanimously approved by Dorel's board, with members of the Schwartz family recusing themselves. Dorel will hold a special meeting of shareholders on Feb. 16 to vote on the proposed deal.
This report by The Canadian Press was first published Feb. 1, 2021.
The Canadian Press
