TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,383.64, down 118.91 points.)
Enbridge Inc. (TSX:ENB). Energy. Up 18 cents, or 0.3 per cent, to $52.79 on 17.3 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 13 cents, or 9.0 per cent, to $1.58 on 11.8 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down seven cents, or 0.4 per cent, to $19.73 on 9.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 33 cents, or 0.9 per cent, to $37.57 on 9.2 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up $1.88, or 7.1 per cent, to $28.21 on 8.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 20 cents, or 0.7 per cent, to $27.48 on 7.9 million shares.
Companies in the news:
Shopify Inc. (TSX:SHOP). Down $193.71 or 17.1 per cent to $938.91. Shopify Inc.'s stock plummeted to the lowest level in nearly two years Wednesday after the e-commerce giant warned that its revenue growth will slow this year as the globe eases up on restrictions meant to quell the COVID-19 pandemic. The Ottawa-based company said it expects revenue growth for 2022 to be lower than the 57 per cent revenue growth it achieved in 2021. Chief financial officer Amy Shapero attributed the lower guidance to the health crisis along with the company's decision not to take any share of the first $1 million in revenue developers make every year on the array of booking features, subscription tools and other products they design for Shopify software. The shift pushed the company, which keeps its books in U.S. dollars, to report a net loss of US$371.3 million or US$2.95 per diluted share for the quarter ended Dec. 31, weighed down by a US$509.7-million net unrealized loss on equity and other investments. The fourth-quarter result compared with net income of US$123.9 million or 99 cents per diluted share in the fourth quarter of 2020.
Barrick Gold Corp. — Barrick Gold Corp. is scouting for new exploration opportunities in Asia as part of an ongoing push into prospective territories, the Toronto-based mining company said Wednesday. The company, which beat expectations even though its profit fell 13 per cent to US$2.02 billion or US$1.14 per diluted share last year, said it has set up a specialist Asia-Pacific team to identify and evaluate opportunities in that region. CEO Dennis Bristow said the company also has geologists working in Guyana, Ecuador and Tanzania, and is bullish about its prospects in those countries. Barrick already has gold and copper mining operations and projects in 13 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia. Barrick also raised its dividend Wednesday, saying it will now pay a quarterly dividend of 10 cents per share, up from nine cents. The company reported its revenue for 2021 was nearly US$12 billion, down from nearly US$12.6 billion in 2020. On an adjusted basis, Barrick said it earned US$1.16 per share for the year, four cents per share above analyst forecasts and up from an adjusted profit of US$1.15 per share a year earlier.
This report by The Canadian Press was first published Feb. 16, 2022.
The Canadian Press
