Stock market movers and shakers
(CP) — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,063.59, down 211.39 points).
Aphria Inc. (TSX:APHA). Health care. Down $1.61, or 21.18 per cent, to $5.99 on 27.3 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 40 cents, or 5.32 per cent, to $7.12 on 9.8 million shares.
Bombardier Inc. (TSX:BBD.B). Down 14 cents, or 6.19 per cent, to $2.12 on 9.3 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 20 cents, or 4.61 per cent, to $4.14 on 5.9 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 14 cents, or 5.17 per cent, to $2.57 on 5.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 22 cents, or two per cent, to $10.77 on 5.6 million shares. Companies reporting major news: Aphria Inc. Uncertainty swirled around the company in the wake of a short-sellers’ report that targeted its recent Latin American acquisitions and raised questions about its operations in the region. BMO Capital Markets slashed its target price to $9 from $22 and will continue to rate the Leamington, Ont-based marijuana producer’s shares as speculative, a day after short-sellers Quintessential Capital Management and Hindenburg Research called the company a “black hole” and alleged that its recent international acquisitions totalling roughly $280-million were “largely worthless.”
Teck Resources Ltd. (TSX:TECK.B). Up 59 cents or 2.1 per cent to $28.78. Teck Resources has sold a 30 per cent stake in its Quebrada Blanca Phase 2 project as it gives the go-ahead for construction of the transformative copper mine in Chile. The Vancouver-based miner said it would sell the stake to Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. as part of a US$1.2 billion transaction that will improve the project’s economics and freeupcashflow.ThedealdramaticallyreducesTeck’sequity requirements to US$693 million to complete the project, with no cash requirement between the close of the deal and late 2020.