Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 23, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS THURSDAY, JANUARY 23, 2025 Agnico Eagle Mines L 128.38 1.28 602 129.99 60.17 Alamos Gold Inc. 29.03 0.44 564 29.66 15.27 AltaGas Ltd. 34.48 -0.26 1,040 35.77 26.91 ARC Resources Ltd. 26.80 -0.10 1,221 28.15 19.58 AtkinsRéalis Group 82.32 5.54 779 82.50 41.01 Bank of Montreal 144.03 0.24 2,542 147.54 109.02 Bank of Nova Scotia 74.05 -0.29 2,190 80.14 60.68 Barrick Gold Corpora 22.66 -0.24 2,110 29.50 18.65 BCE Inc. 33.34 -0.20 3,334 56.13 31.43 BMO S&P 500 Index ET 95.72 0.93 268 95.84 71.15 BMO S&P/TSX Capped C 33.86 0.04 62 34.67 27.43 Brookfield Infrastru 46.57 0.07 342 50.46 34.36 Brookfield Renewable 28.83 -0.82 731 40.84 27.55 CAE Inc. 34.80 -0.58 694 36.68 22.28 Cameco Corporation 81.02 4.28 1,361 88.18 48.71 Canadian Imperial Ba 91.54 0.57 3,237 95.50 59.53 Canadian National Ra 150.18 1.53 723 181.34 143.18 Canadian Natural Res 45.39 -0.26 7,196 56.50 40.02 Canadian Pacific Kan 112.84 1.44 1,465 123.37 101.76 Canadian Tire Corpor 234.01 -0.99 0 275.36 192.10 Canadian Tire Corpor 159.62 -2.81 322 164.13 126.25 Canadian Utilities L 33.87 -0.42 298 37.10 29.15 CCL Industries Inc. 72.99 0.00 0 83.99 57.11 CCL Industries Inc. 74.25 1.25 249 84.70 55.34 Cenovus Energy Inc. 21.54 0.04 2,975 29.96 19.82 CGI Inc. Class A Sub 160.15 1.57 387 162.63 132.06 Colliers Internation 201.81 0.89 38 218.47 138.13 Constellation Softwa 4500.02 59.09 25 4879.19 3535.00 Descartes Systems Gr 173.05 3.15 80 174.24 113.65 Dollarama Inc. 138.50 0.54 670 152.97 97.80 Element Fleet Manage 29.26 0.25 347 30.49 21.20 Emera Incorporated 53.79 -0.25 1,380 56.20 44.13 Empire Company Limit 42.80 0.06 1,683 46.77 31.45 Enbridge Inc. 64.40 -0.61 10,767 65.62 45.05 Fairfax Financial Ho 2019.52 13.18 47 2071.49 1213.01 Fairfax Financial Ho 1371.18 0.00 0 1397.29 893.44 First Quantum Minera 18.66 -0.49 1,987 21.45 10.91 FirstService Corpora 266.80 4.61 48 278.19 193.77 Fortis Inc. 60.57 -0.46 2,061 63.75 51.02 Franco-Nevada Corpor 187.00 -0.36 210 191.17 140.67 Galaxy Digital Holdi 32.81 1.56 1,241 33.03 7.61 George Weston Limite 220.93 2.11 121 239.79 166.78 Gildan Activewear In 73.20 -0.01 353 73.41 43.12 Great-West Lifeco In 46.35 0.04 630 50.99 38.44 Hydro One Limited 44.15 -0.35 483 48.05 37.27 IGM Financial Inc. 45.09 0.03 357 47.96 32.95 Imperial Oil Limited 101.98 1.13 507 108.89 73.81 Intact Financial Cor 258.07 1.94 202 275.84 205.80 iShares Core MSCI EA 39.03 0.01 87 39.48 34.44 iShares Core S&P 500 63.05 0.40 241 63.70 50.73 iShares Core S&P/TSX 40.38 0.05 269 41.31 32.65 iShares S&P/TSX 60 I 38.41 0.01 2,299 39.06 31.33 Ivanhoe Mines Ltd. 16.42 -0.07 1,834 21.32 13.05 Keyera Corp. 42.41 0.44 930 47.90 31.16 Kinross Gold Corpora 15.30 0.05 1,945 15.52 6.46 Loblaw Companies Lim 183.95 2.82 264 196.49 132.55 Lundin Gold Inc. 35.30 0.31 467 36.16 14.23 Lundin Mining Corpor 12.09 -0.53 2,491 17.97 9.90 Magna International 57.56 -0.94 916 79.98 51.79 Manulife Financial C 43.79 -0.44 2,199 46.42 28.53 Metro Inc. 90.89 0.68 257 94.86 68.12 Molson Coors Canada 79.64 0.00 0 93.06 65.04 Molson Coors Canada 77.49 -9.51 0 97.01 63.46 National Bank of Can 130.05 -1.90 1,108 141.15 99.86 Newmont Corporation 59.92 -0.83 167 81.16 39.96 ONEX Corporation Sub 113.20 0.32 51 118.91 85.36 Open Text Corporatio 40.85 0.21 547 60.00 37.92 Ovintiv Inc. 65.09 -0.02 81 76.63 49.74 Pan American Silver 31.43 0.00 778 36.00 16.50 Pembina Pipeline Cor 53.64 -0.39 2,242 60.72 44.56 Power Corporation of 43.10 -0.25 2,600 47.89 35.83 RB Global Inc. 129.37 -0.86 172 139.48 82.18 Restaurant Brands In 87.12 0.11 742 112.12 86.06 Restaurant Brands In 87.97 0.00 0 109.74 87.11 Rogers Communication 44.50 -0.77 1 64.55 44.00 Rogers Communication 40.44 -0.11 2,214 64.71 39.65 Royal Bank of Canada 174.11 -1.39 7,485 180.45 127.60 Saputo Inc. 23.42 0.12 606 32.15 22.59 Shopify Inc. Class A 153.03 0.60 1,525 171.84 72.36 Sprott Physical Gold 21.31 0.15 1 22.68 15.36 Sprott Physical Gold 30.64 0.27 142 30.75 20.78 Stantec Inc. 115.19 2.95 187 123.92 103.48 Sun Life Financial I 84.07 -0.47 787 88.54 64.38 Suncor Energy Inc. 56.44 -0.66 2,434 58.58 41.88 TC Energy Corporatio 67.89 -0.18 4,615 70.32 48.12 Teck Resources Limit 62.04 -0.70 0 74.15 49.62 Teck Resources Limit 61.73 -0.96 997 74.37 49.45 TELUS Corporation 20.35 0.17 4,858 24.92 19.10 TFI International In 194.03 -0.03 110 220.93 173.25 Thomson Reuters Corp 236.26 3.39 316 243.42 199.00 TMX Group Limited 45.76 0.51 272 45.92 33.09 Toromont Industries 123.12 4.20 348 135.53 109.83 Toronto-Dominion Ban 81.86 -0.25 8,752 87.99 73.22 Tourmaline Oil Corp. 69.33 0.60 2,133 70.65 53.45 Vanguard S&P 500 Ind 155.30 1.51 354 155.76 115.49 Vanguard U.S. Total 117.52 1.00 66 117.65 87.53 Waste Connections In 256.88 0.32 222 273.51 203.29 West Fraser Timber C 130.53 -1.59 122 141.27 100.84 Wheaton Precious Met 84.86 -0.45 416 94.84 52.15 WSP Global Inc. 258.02 7.61 217 259.60 190.91 VOLUME 52-WK 52-WK STOCK CLOSE CHG (000S) HIGH LOW (by market capitalization) TSX Top 100 MARK E T WAT CH Daily Mutual Movers Biggest gainers and losers base on percentage change in daily net asset value per share. Data supplied by Fundata. All Funds COMPANY CLOSE CHG BMO ARK Geno Rev FdA 8.40 4.66 BMO Prvt US Grw Equ Pf 40.33 2.44 TD Sci & Tech Fd Inv 161.09 2.41 RBC Gbl Technology Fd A 18.94 2.25 Guardian i3 USQualGrFd A 11.89 2.19 BMO Glo Innov FdA 18.14 2.12 CSL U.S. Growth Ser A 76.81 2.10 Inv Amer Fran Fd A 28.79 2.08 Inv Amer Fran Cl A 50.09 2.08 TD Gbl Ent & Com Fd Inv 188.67 2.06 Fid USGrwOppInvTr O 24.17 2.06 Fid US Grw Opp Cl A 23.48 2.06 IG Mac Gb Sci & Tec Fd C 50.43 2.04 Canadian Equity COMPANY CLOSE CHG Caldw Cdn Val Momntm Fd A 23.33 1.17 BMO SIAFocCdnEquFd Adv 14.62 0.95 NCM Core Cdn Ser A 40.83 0.84 BMO Sust Opp Cdn Equ A 15.07 0.72 Fid CdnFundamentalEqM-A O 17.02 0.67 IAC Inh Cdn Equ SRI Cl A 20.71 0.65 Desj Div Growth Fd A 31.96 0.61 Marquis Inst Cdn Equ Pf C 16.45 0.57 NEI Cdn Equ Pl I 12.71 0.57 BDQ Equity Fund 24.41 0.55 Guardian CdnSectContEquA 12.84 0.53 SEI Cdn Equity Fd O 25.03 0.52 Desj LV Cdn Equ Fd I 12.53 0.51 Canadian Fixed Income COMPANY CLOSE CHG EdgePoint Mthly Inc Pt A 9.50 -0.17 RBC Mthly Inc Bond Fd A 9.03 -0.19 ATBIS FixIncPool -F1 10.07 -0.21 Scot WthS-MGovtBondPool I 9.83 -0.22 Sym Fixed Inc Pf A 9.47 -0.22 RBCI Cdn S/M Bd Fd F 9.97 -0.23 Canoe Bond Advantage Fd A 8.53 -0.24 Scot Wth Income Pool Pin 10.25 -0.24 Mack FPCan Fx In PtPA 10.08 -0.25 Scot Cdn Inc Fd A 12.24 -0.25 CL Dvf Fx Inc Port A 8.81 -0.25 Scotia Wealth Cdn Bd I 10.17 -0.26 Dyn Tact Bond Pvt Pl F 8.09 -0.26 Global Equity COMPANY CLOSE CHG Canadian Dollar 44,156.73 20,009.34 DOW NASDAQ S&P 500 S&P/TSX +130.92 +252.56 +37.13 +29.87 25,311.506,086.37 +0.20 +11.70-0.39 OIL GAS GOLD SILVER US$75.44 US$3.96 US$2,770.90 US$31.42 -0.08 DOLLAR 69.59¢ -0.02 24,900 25,400 24,400 25,900 23,900 DAILY CLOSE, PAST 30 DAYS I December January Manitoba Stocks Ag Growth Int’l Inc. 41.06 0.05 57,346 Artis REIT 7.20 -0.04 185,307 BCE Inc. 33.34 -0.2 3,333,995 Bird River Resources Inc. 0.04 0 - Boyd Group Services Inc. 232.09 3.74 34,360 Buhler Industries Inc. 3.39 0 1 Exchange Income Corp. 54.61 0.21 95,744 FP Newspapers Inc. 0.48 0 - Gossan Resources Ltd. 0.02 0 24,000 Great West Lifeco Inc. 46.35 0.04 629,984 Hudbay Minerals Inc. 12.14 -0.44 1,355,243 IGM Financial Inc. 45.09 0.03 357,279 Kane Biotech Inc. 0.11 0.005 1,000 Medicure Inc. 0.82 0 - NFI Group Inc. 13.30 -0.21 171,596 North West Co. Inc. New 46.30 0.64 71,064 Pollard Banknote Ltd. 29.12 2.37 160,148 Winpak Ltd. 45.26 0.5 48,763 Marwest Apartment REIT 0.68 0 0 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY Mar ‘25 628.90 639.00 626.70 630.10 629.50 May 638.10 648.20 635.10 639.80 638.60 Jul 642.80 654.10 642.00 646.70 644.60 Nov 631.00 640.50 630.60 636.20 632.10 Jan ‘26 640.10 644.30 640.10 640.70 636.80 Mar 644.80 644.90 641.20 641.20 637.80 May 644.90 644.90 641.40 641.40 638.40 Jul 640.90 643.20 639.40 639.40 636.30 Nov - 643.00 - 643.00 638.70 Jan ‘27 - 641.50 - 641.50 636.40 Mar - 641.50 - 641.50 636.40 SOURCES: THE BANK OF CANADA, FUNDATA, ICE FUTURES CANADA, CME GROUP S&P/TSX Composite Index Foreign Exchange Rates These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Wednesday. Quotations in Canadian funds. Australian dollar 0.9019 Brazilian real 0.2416 Chinese renminbi 0.1976 European euro 1.4973 Hong Kong dollar 0.1845 Indian rupee 0.01662 Indonesian rupiah 0.000088 Japanese yen 0.00919 Mexican peso 0.07001 New Zealand dollar 0.8145 Norwegian krone 0.1275 Peruvian new sol 0.386 Russian ruble 0.01451 Saudi riyal 0.383 Singapore dollar 1.0606 South African rand 0.07771 South Korean won 0.001001 Swedish krona 0.1306 Swiss franc 1.585 Taiwanese dollar 0.04392 Turkish lira 0.0403 UK pound sterling 1.7714 US dollar 1.4369 A U.S. dollar cost $1.4369 based on daily average BMO Glo Innov FdA 18.14 2.12 TD Gbl Ent & Com Fd Inv 188.67 2.06 Guardian i3 GlQualityGrA 13.75 2.01 CIBC Gbl Tech Fd A 82.23 1.98 Fid Glo Innovat Inv Tr O 30.30 1.67 Fid Founders Inv Tr O 26.76 1.67 Fid Gbl Innova Cl A 41.77 1.67 Fid Founders Class A 27.41 1.66 RBC VisFossFuelFreeGloEqA 20.85 1.57 Mac FP Sh Glo Eq PA 14.80 1.55 Mac BW NG Gr F A 16.40 1.52 RBC Gbl Equ Foc Fd A 26.27 1.46 RBC Glo Equ Leaders A 11.60 1.45 These companies will have headquarters or major operations in Manitoba. Closing values are as of the end of trading. Provided by Wellington-Altus Private Wealth. MTY Food Group raising quarterly dividend by 18% MONTREAL — MTY Food Group Inc. is raising its quarterly dividend by 18 per cent. The franchisor and operator of restaurants says it will now pay a quarterly dividend of 33 cents per share up from 28 cents. Shares in the company behind many mall food court favourites will have an annual yield of about 2.7 per cent based on their closing price of $48.91 on the Toronto Stock Exchange on Tuesday. MTY chief executive Eric Lefebvre says the increase reflects the com- pany’s continued confidence in its fi- nancial strength and strategic growth initiatives. The new rate will be payable Feb. 14 to shareholders of record at the end of the business day on Feb. 4. MTY has dozens of brands including Jugo Juice, Manchu Wok and Mr. Sub, as well as Baton Rouge and Scores. — The Canadian Press Venture Global slashes IPO range by more than 40% VENTURE Global Inc. slashed the marketed range for its initial public of- fering, bringing the potential valuation well below its US$110 billion target. The liquefied natural gas exporter is marketing 70 million shares in the of- fering for US$23 to US$27 each, a more than 40 per cent drop from the US$40 to US$46 per share range it had target- ed earlier, according to an earlier filing with the U.S. Securities and Exchange Commission. At the top of the new range, the com- pany would raise US$1.9 billion in the listing, and would have a market value of about US$65 billion, based on the out- standing shares. Investors approached during the marketing of the deal wanted a lower valuation range, according to people familiar with the matter, who asked not to be identified as the information isn’t public. A representative for Venture Global didn’t immediately respond to requests for comment. The lower pricing would come as a setback for potential IPO candidates in the U.S. energy sector, which have been looking to Venture Global’s offering to help revive sentiment around first- time share sales in the sector. Just six energy IPOs priced on U.S. exchanges in 2024, raising US$667 million to mark the lowest volume for energy IPOs in 21 years, data compiled by Bloomberg show. Still, Venture Global is targeting a lofty valuation relative to competitors. Cheniere Energy Inc., the largest LNG exporter in the U.S., has a market value of US$54 billion after jumping 48 per cent over the past year. Venture Global, founded outside of Washington, D.C., was viewed as a star- tup compared to the established energy companies and climbed to quickly build two export facilities in Louisiana. Venture Global had net income of US$756 million in the nine months end- ed Sept. 30, 2024, on revenue of US$3.4 billion, versus net income of US$3.6 bil- lion on revenue of US$6.3 billion in the same period in 2023, according to the filing. — Bloomberg News Nissan to downsize Japan operations TOKYO — Nissan Motor Co. intends to downsize production at a subsidiary plant as part of its plan to restructure domestic operations. The Shonan plant in Hiratsuka, Kanagawa Prefecture, is run by its subsidiary Nissan Shatai Co., which manufactures commercial and other vehicles. The automaker is expected to slash hundreds of jobs. Nissan announced last year it was cutting 9,000 jobs worldwide, but this is the first time it has revealed specific restructuring measures for Japan. The automaker will stop producing the AD, a van currently manufactured at Shonan, around November. The plant’s annual production cap- acity is 150,000 units. It currently pro- duces the AD and NV200 Vanette. In December, Nissan and Honda Motor Co. announced they had started talks on a merger. — Japan News Netflix hikes prices, stock rises as its lead widens over rival services N ETFLIX has raised its prices af- ter gaining a record 41 million subscribers last year. The world’s largest streaming service said Tuesday it had raised subscription rates for most plans in the United States, Canada, Portugal and Argentina. For Canadian users, Netflix’s ad-sup- ported plan increased from $5.99 to $7.99 monthly, while a standard sub- scription has increased from $16.49 to $18.99. The platform’s premium ad- free plan — which allows four users to stream concurrently — went up by $3, to $23.99 per month. Also Tuesday, Netflix announced an- nual operating income that exceeded US$10 billion for the first time in its history, on the back of year-on-year revenue growth of 16 per cent. Wall Street cheered the news, with the company’s stock price gaining al- most 10 per cent Wednesday, closing at US$953.99 in New York. Netflix added 19 million paid sub- scribers in the fourth quarter of the year — buoyed, it said, in part by the recent release of the second season of Squid Game and a push into live sports, includ- ing NFL games and the internet-viral boxing match between Mike Tyson and YouTuber-turned-boxer Jake Paul. Netflix’s massive scale allows it to buy more high-dollar material, making it harder for other services to compete, Evercore ISI analyst Mark Mahaney said. “For (Netflix) to raise prices across all of their plans, they must be really confident that it’s not going to lead to a consumer backlash.” Netflix raised prices in its other international markets in the past couple of quarters without problems, co-chief executive Greg Peters said. “Those changes have gone smoothly,” Peters said. “We certainly expect the same for these latest changes.” At $7.99 monthly, the ad-supported plan still represents “a highly access- ible entry point,” Peters said. Don’t expect Netflix’s price hike to prompt rivals to do the same, Wedbush Securities managing director Dan Ives said. Other streaming services instead will hold their prices steady and try to gain market share, he said. Netflix “stands at the top of the moun- tain looking down at competitors,” Ives said in an email. Netflix projected revenue of between US$43.5 billion and US$44.5 billion for 2025, equating to growth of about 12 per cent to 14 per cent year over year — a significant reversal in outlook from recent years, when some industry watchers had forecast decreasing stock values after the company reported a de- cline in subscribers in 2022 for the first time in a decade. The company is an undisputed lead- er in streaming video, with 302 million paying subscribers. By comparison, Disney reported 123 million global sub- scribers for its Disney Plus Core ser- vice at the end of September. Amazon has reported more than 200 million monthly viewers for Amazon Prime. (Amazon founder Jeff Bezos owns the Washington Post.) — Washington Post AARON GREGG AND KELLY KASULIS CHO MARIA LYSAKER / THE ASSOCIATED PRESS Netflix branding on a sign on the field in Houston prior to its exclusive streaming broadcast of a Christmas Day NFL game last month. ;