Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 13, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS THURSDAY, FEBRUARY 13, 2025 Barrick Gold reports US$2.14B profit for 2024 TORONTO — Barrick Gold Corp. says it earned US$2.14 billion in 2024, up from $1.27 billion a year earlier, helped by higher gold and copper prices. The gold miner, which keeps its books in U.S. dollars, says the profit amount- ed to US$1.22 per diluted share for the year, up from 72 cents US per diluted share in 2023. Revenue for the year totalled US$12.92 billion, up from US$11.40 billion. Gold sales for the year totalled nearly 3.8 million ounces, down from four mil- lion ounces in 2023, while the realized price rose to US$2,397 per ounce, up from US$1,948 a year earlier. Copper sales totalled 177,000 tonnes last year, down from 185,000 tonnes in 2023, while the company’s realized copper price amounted to US$4.15 per pound in 2024, up from US$3.85 a year earlier. On an adjusted basis, Barrick says it earned US$1.26 per share in 2024, up from an adjusted profit of 84 cents US per share in 2023. — The Canadian Press Brookfield Asset Management hikes dividend TORONTO — Brookfield Asset Manage- ment Ltd. says it earned fourth-quarter net income of US$186 million from its stake in the asset management busi- ness it owns with Brookfield Corp. The company says it will pay a quar- terly dividend of 43.75 cents US per share, up from 38 cents US per share. Brookfield Asset Management Ltd., which keeps its books in U.S. dollars, says its fourth-quarter profit amounted 42 cents US per diluted share for the quarter ended Dec. 31, up from US$95 million or 24 cents US per diluted share a year earlier. Brookfield Corp. spun off the asset management business in 2022, but maintained a majority stake in the oper- ations, while Brookfield Asset Manage- ment Ltd. held the rest of the company. The full asset management business, which reports its results in U.S. dollars, reported a fourth-quarter profit attrib- utable to the business of US$688 million, up from US$374 million a year earlier. — The Canadian Press THE ASSOCIATED PRESS Ben Affleck (from left), Jordon Hudson, Bill Belichick and Casey Affleck in a 2025 Super Bowl ad for U.S. coffee and doughnut chain Dunkin’. Super Bowl broadcast drew record US$800M in advertising sales for Fox T HIS year’s Super Bowl garnered over US$800 million in advertis- ing sales for Fox Corp. across its broadcast and online outlets, the com- pany said in a statement Wednesday. The number tops previous NFL championships, including the US$600 million Fox brought in for broadcasting the game in 2023. This year’s matchup between the Philadelphia Eagles and Kansas City Chiefs set a record for sin- gle ad sales, with prices topping US$8 million for a 30-second spot. While the Eagles won a relatively easy 40-22 victory over the Chiefs, the game scored record viewership in part because more fans streamed the game than ever before. About 14.5 million of the 127.7 million viewers on Feb. 9 watched it online, mostly on Fox’s Tubi service. That’s more than four times the 3.4 million who watched the Super Bowl last year on outlets other than Para- mount Global’s CBS network. Para- mount broadcast the 2024 game on CBS and streamed it on the company’s sub- scription-based Paramount+ service. Tubi is free to watch, something that likely factored into the surge in online viewing, and generates revenue from advertising sales. The game was also available on the NFL’s online outlets. In an interview before the game last week, Tubi’s CEO Anjali Sud told Bloomberg Television the Super Bowl is “a great opportunity to introduce Tubi’s value proposition to more of America.” Tubi isn’t a big player in live sports, which are among the most expensive properties for TV networks to acquire. The service, which had nearly 100 mil- lion monthly users before the Super Bowl, typically features old movies and TV shows, as well as some low-budget originals. More than half of Tubi’s viewers are Gen Z or Millennials, ac- cording to the company. Some 77 per cent don’t have cable-TV. An ad for the streaming service, which ran during the game, featured a character with a head shaped like a cowboy hat interacting with others who dressed as wizards or pirates. It was meant to underscore the variety of programming available. The ad drew mixed reactions, including a mention on USA Today’s list of the game’s “most unhinged” commercials. Tubi had a 26-second delay, the short- est lag time of any streaming service during the Super Bowl, according to video technology platform Phenix Real Time Solutions Inc. However, some viewers complained on social media about buffering issues. Fox acquired Tubi for US$440 mil- lion in 2020 and later turned down un- solicited offers of more than US$2 bil- lion for the streamer. The company has been investing heavily in the business. Steve Tomsic, Fox’s chief financial officer, said at a conference in December that Tubi had a deficit of about US$240 million during the company’s 2024 fiscal year but that he still sees “an enormous amount of upside” in the service. “It’s completely on us to drive better profitability out of Tubi.” — Bloomberg News HANNAH MILLER CPP Investments earned 3.8% in Q3 TORONTO — The Canada Pension Plan Investment Board earned a net return of 3.8 per cent in its latest quarter. The result came as CPP Investments’ net assets grew to $699.6 billion at Dec. 31, up from $675.1 billion at the end of the previous quarter. It says the increase included $26 bil- lion in net income less $1.5 billion in net Canada Pension Plan outflows. CPP Investments says it routinely re- ceives more CPP contributions than re- quired to pay benefits during the first part of the calendar year, partially offset by benefit payments exceeding contribu- tions in the final months of the year. It says its investments in private equity and credit helped drive its re- turns in its latest quarter, offset by loss- es in fixed-income assets. — The Canadian Press Japan’s SoftBank posts US$2.4B loss TOKYO — Japanese technology com- pany SoftBank Group Corp. reported a 369.2 billion yen (US$2.4 billion) loss for the fiscal third quarter as it racked up red ink from its Vision Fund invest- ments. That’s compared to a 950 billion yen profit in October-December 2023. Quarterly sales rose three per cent from the previous year to 1.83 trillion yen (US$11.9 billion), the Tokyo-based company said Wednesday. SoftBank Group invests in an array of companies it sees as holding long- term potential, including unlisted up- starts, so its financial performance tends to swing wildly. For the nine months of this fiscal year through December, it recorded a profit of 636 billion yen, a reversal from a loss of 459 billion yen for the previous year. — The Associated Press Agnico Eagle Mines L 142.23 1.72 1,033 145.25 60.17 Alamos Gold Inc. 32.64 0.52 1,098 33.03 15.27 AltaGas Ltd. 34.59 -0.23 373 35.77 26.97 ARC Resources Ltd. 26.25 -0.73 1,409 28.15 20.82 AtkinsRéalis Group 71.29 -2.26 632 83.94 42.60 Bank of Montreal 140.97 -1.34 1,697 147.54 109.02 Bank of Nova Scotia 72.93 0.09 2,531 80.14 60.68 Barrick Gold Corpora 25.97 1.55 5,221 29.50 18.65 BCE Inc. 33.23 0.54 2,227 51.57 31.43 BMO MSCI EAFE Index 24.45 0.09 29 24.62 21.25 BMO S&P 500 Index ET 94.52 -0.27 239 96.98 73.06 BMO S&P/TSX Capped C 34.23 -0.10 70 34.67 27.43 Brookfield Infrastru 46.60 -0.72 397 50.46 34.36 Brookfield Renewable 31.75 0.25 256 40.84 27.55 CAE Inc. 33.63 -0.35 672 36.68 22.28 Cameco Corporation 70.89 -0.33 711 88.18 48.71 Canadian Imperial Ba 88.16 0.38 1,887 95.50 59.57 Canadian National Ra 146.60 -0.43 915 181.34 143.18 Canadian Natural Res 42.90 -1.28 7,155 56.50 40.02 Canadian Pacific Kan 111.18 -0.81 1,148 123.37 101.76 Canadian Tire Corpor 228.00 7.00 0 275.36 192.10 Canadian Tire Corpor 157.40 -1.12 184 169.27 126.25 Canadian Utilities L 33.99 0.14 387 37.10 29.15 CCL Industries Inc. 70.29 0.67 218 84.70 56.57 CCL Industries Inc. 70.00 0.00 0 83.99 57.38 Cenovus Energy Inc. 21.73 -0.41 5,109 29.96 20.16 CGI Inc. Class A Sub 172.50 -0.13 243 175.35 132.06 Colliers Internation 186.25 -3.80 48 218.47 138.13 Constellation Softwa 4877.00 -5.25 17 4980.70 3535.00 Descartes Systems Gr 162.71 -6.84 295 177.98 113.65 Dollarama Inc. 138.17 -1.39 938 152.97 98.93 Element Fleet Manage 28.51 0.48 317 30.49 21.20 Emera Incorporated 55.72 0.26 951 56.33 44.13 Empire Company Limit 42.64 0.12 240 46.77 31.45 Enbridge Inc. 64.45 -0.24 14,801 65.62 45.05 Fairfax Financial Ho 1401.90 0.00 0 1401.90 893.44 Fairfax Financial Ho 2000.90 20.90 48 2071.49 1265.50 First Quantum Minera 18.91 0.08 2,906 21.45 10.91 FirstService Corpora 246.23 -2.73 74 278.19 193.77 Fortis Inc. 62.70 -0.06 1,592 63.75 51.02 Franco-Nevada Corpor 203.34 -0.69 208 206.32 140.67 Galaxy Digital Holdi 26.87 0.33 546 34.98 11.13 George Weston Limite 223.19 0.78 93 239.79 166.78 Gildan Activewear In 72.10 -0.40 455 76.20 44.23 Great-West Lifeco In 52.03 0.88 3,201 52.48 38.44 Hydro One Limited 44.85 -0.27 720 48.05 37.27 IGM Financial Inc. 44.60 0.32 468 47.96 32.95 Imperial Oil Limited 100.66 -0.86 542 108.89 78.79 Intact Financial Cor 290.26 14.03 365 290.54 206.57 iShares Core MSCI EA 40.03 0.09 99 40.42 34.84 iShares Core S&P 500 62.70 -0.18 340 63.70 51.56 iShares Core S&P/TSX 40.83 -0.11 136 41.31 32.65 iShares S&P/TSX 60 I 38.95 -0.16 2,658 39.55 31.33 Ivanhoe Mines Ltd. 16.44 0.17 983 21.32 13.84 Keyera Corp. 41.84 -0.61 662 47.90 31.57 Kinross Gold Corpora 17.39 0.16 2,412 17.63 6.46 Loblaw Companies Lim 178.40 0.30 267 196.49 132.55 Lundin Gold Inc. 38.36 -0.84 490 41.28 14.23 Lundin Mining Corpor 12.25 0.13 1,328 17.97 10.56 Magna International 55.76 -0.26 1,358 75.93 51.34 Manulife Financial C 42.25 -0.08 5,902 46.42 29.82 Metro Inc. 92.50 0.68 486 94.86 68.12 Molson Coors Canada 78.36 0.00 0 97.01 63.46 Molson Coors Canada 77.19 0.00 0 93.06 65.04 National Bank of Can 126.50 1.04 1,277 141.15 100.47 Newmont Corporation 66.86 1.85 242 81.16 39.96 Open Text Corporatio 40.44 -0.53 1,180 56.32 37.92 Ovintiv Inc. 61.09 -3.78 190 76.63 49.74 Pan American Silver 36.03 1.29 818 36.54 16.50 Pembina Pipeline Cor 52.09 -0.61 1,011 60.72 44.56 Power Corporation of 46.99 0.53 1,053 48.01 35.83 RB Global Inc. 134.22 0.27 131 139.48 89.15 Restaurant Brands In 93.93 -1.62 663 112.12 86.06 Restaurant Brands In 95.93 2.15 0 109.74 87.11 Rogers Communication 43.05 0.99 1 62.75 42.00 Rogers Communication 39.65 0.51 1,367 62.05 37.97 Royal Bank of Canada 169.13 0.07 1,511 180.45 127.60 Saputo Inc. 24.30 0.28 593 32.15 22.59 Shopify Inc. Class A 172.08 -4.49 2,425 179.85 72.36 Sprott Physical Gold 32.04 0.02 93 32.20 20.78 Sprott Physical Gold 22.41 0.00 1 22.68 15.36 Stantec Inc. 109.76 -0.64 180 123.92 103.48 Sun Life Financial I 84.63 1.13 2,255 88.54 64.38 Suncor Energy Inc. 56.58 -1.47 7,838 58.58 42.43 TC Energy Corporatio 66.88 -0.65 2,410 70.32 48.12 Teck Resources Limit 61.37 1.12 0 74.15 49.64 Teck Resources Limit 61.37 0.96 687 74.37 49.59 TELUS Corporation 20.86 0.03 3,368 24.47 19.10 TFI International In 185.55 -0.15 142 220.93 176.33 Thomson Reuters Corp 251.25 -3.97 321 256.51 204.21 TMX Group Limited 50.01 0.72 419 50.08 33.41 Toromont Industries 121.29 3.94 179 135.53 109.83 Toronto-Dominion Ban 85.57 -1.12 6,151 87.99 73.22 Tourmaline Oil Corp. 68.21 -0.89 906 70.65 53.45 Vanguard S&P 500 Ind 153.39 -0.53 233 157.38 118.58 Vanguard U.S. Total 115.95 -0.31 37 119.12 89.89 Waste Connections In 271.02 -0.33 169 274.32 206.91 West Fraser Timber C 119.75 -1.82 127 141.27 100.84 Wheaton Precious Met 97.56 2.08 563 97.61 52.15 WSP Global Inc. 248.80 -4.26 425 262.00 196.00 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 Fid Adv Ether ETF Fd B 19.82 3.67 Mac ChAMC All Ch Eq A 11.58 2.43 BMO ARK Geno Rev FdA 8.24 2.24 BMO ARK Innova FdA 17.57 2.14 Fid China Fund Ser B 31.96 2.12 BMO Greater China A 10.91 1.84 CIBC Precious Metals Fd A 21.64 1.64 BMO ARK Nxt Gen Int FdA 24.58 1.45 CL EmMktsLgCapEqFd A 14.57 1.34 Mac Emer Mkts Fd A 12.38 1.27 Fid Int Equ CN Inv Trus O 13.11 1.25 Fid Intl Equity Pvt Pl B 25.61 1.25 Fid Intl Equity CN PP B 20.45 1.25 Canadian Equity COMPANY CLOSE CHG BMO LowVoCdnEquETFFd A 14.26 0.37 NEI Cdn Equity RS Fund A 28.77 0.24 DesjSus Cdn Eq Inc Fd I 12.15 0.05 Desj LV Cdn Equ Fd I 12.75 0.05 BDQ Equity Fund 24.69 0.02 CIBC Sust Cdn Equ A 11.93 0.02 EdgPt Canadian Port A 55.20 0.00 BMO Cdn Sm Alpha Equ Fd A 37.39 -0.04 Mack Bw Can Equ A 11.55 -0.08 Counsel MultFact Cdn Eq P 13.97 -0.08 InvS&P/TSXCompESGIdxETFA 13.57 -0.16 SEI Cdn Equity Fd O 25.29 -0.17 Inv Pure Cdn Equ Cl A 25.72 -0.18 Canadian Fixed Income COMPANY CLOSE CHG EdgePoint Mthly Inc Pt A 9.55 -0.29 ATBIS FixIncPool -F1 10.14 -0.33 Scot WthS-MGovtBondPool I 9.87 -0.36 SEI Income 100 Fund O 4.87 -0.40 Invsc Cdn Core +Bond Fd A 5.38 -0.43 MD Bond Fund Series A 6.93 -0.43 Evo Cdn Agg Bd Enh Yld A 19.76 -0.45 BMO PrvtCdnBomfPt 10.54 -0.47 Fid Sys Cdn Bon Idx ETF B 8.97 -0.48 CapGp CdnC+FxIncFd(Cda) A 9.66 -0.48 Marquis Inst Bond Port V 4.94 -0.48 Rus Inv Cdn Fix Inc Fd O 110.31 -0.48 Rus Inv Fx Inc Pl B 10.24 -0.48 Global Equity COMPANY CLOSE CHG Canadian Dollar 44,368.56 19,649.95 DOW NASDAQ S&P 500 S&P/TSX -225.09 +6.09 -16.53 -68.72 25,563.116,051.97 +0.05 -3.90-1.95 OIL GAS GOLD SILVER US$71.37 US$3.57 US$2,928.70 US$32.78 +0.46 DOLLAR 69.94¢ +0.04 24,900 25,400 24,400 25,900 23,900 DAILY CLOSE, PAST 30 DAYS II January February Manitoba Stocks Ag Growth Int’l Inc. 38.26 0.26 47,659 Artis REIT 7.60 -0.02 132,312 BCE Inc. 33.23 0.54 2,226,549 Bird River Resources Inc. 0.06 0.005 130,000 Boyd Group Services Inc. 236.78 -1.59 46,320 Buhler Industries Inc. 7.15 3.75 30,719 Exchange Income Corp. 52.58 0.03 63,986 FP Newspapers Inc. 0.59 0 - Gossan Resources Ltd. 0.02 0 1 Great West Lifeco Inc. 52.03 0.88 3,201,157 Hudbay Minerals Inc. 12.97 0.04 1,394,667 IGM Financial Inc. 44.60 0.32 468,001 Kane Biotech Inc. 0.11 0 5,000 Medicure Inc. 0.79 0 - NFI Group Inc. 9.97 -0.42 596,092 North West Co. Inc. New 45.99 0.08 32,616 Pollard Banknote Ltd. 26.30 -1.09 9,144 Winpak Ltd. 42.54 -0.14 78,108 Marwest Apartment REIT 0.7 0 10,000 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY Mar ‘25 664.50 665.00 657.30 660.80 664.60 May 673.10 674.70 667.20 669.70 675.10 Jul 677.00 678.50 671.10 673.40 679.10 Nov 650.50 654.40 648.00 649.40 654.40 Jan ‘26 655.60 656.10 651.90 651.90 656.90 Mar - 652.30 - 652.30 657.20 May - 651.80 - 651.80 656.70 Jul - 649.30 - 649.30 654.20 Nov - 626.10 - 626.10 630.90 Jan ‘27 - 625.80 - 625.80 630.60 Mar - 625.80 - 625.80 630.60 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 0.8973 Brazilian real 0.2481 Chinese renminbi 0.1956 European euro 1.4837 Hong Kong dollar 0.1835 Indian rupee 0.01645 Indonesian rupiah 0.000087 Japanese yen 0.00926 Mexican peso 0.06969 New Zealand dollar 0.8058 Norwegian krone 0.1269 Peruvian new sol 0.3857 Russian ruble 0.0152 Saudi riyal 0.3812 Singapore dollar 1.056 South African rand 0.07722 South Korean won 0.000983 Swedish krona 0.1313 Swiss franc 1.5655 Taiwanese dollar 0.04352 Turkish lira 0.0396 UK pound sterling 1.7777 US dollar 1.4298 A U.S. dollar cost $1.4298 based on daily average BMO ARK Innova FdA 17.57 2.14 BMO ARK Nxt Gen Int FdA 24.58 1.45 Mack FPGlo Val PA 13.25 1.10 Fid Gbl Conc Eq Fd B 16.73 1.06 Fid Global Equ Priv Pl B 38.43 1.05 Fid Gbl Con Eq CN Fd A 12.86 1.05 Fid Global Equ C N PP B 29.28 1.04 Fid Global Fund Ser B 96.05 0.99 Barometer Glo Equ Cl A 22.68 0.64 Dyn Pwr Gbl Grwth Cl A 23.39 0.55 Brand Gbl Equ Fd A 23.57 0.33 BMO Conc Gbl Equ Fd A 18.46 0.32 CIBC Gbl Tech Fd A 81.00 0.28 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. ;