Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 8, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS THURSDAY, MAY 8, 2025 Barrick reports US$474M Q1 profit TORONTO — Barrick Mining Corp. re- ported its first-quarter profit rose com- pared with a year ago, helped by higher prices for gold and copper. The mining company, which keeps its books in U.S. dollars, says it earned US$474 million or 27 cents US per di- luted share for the quarter, up from US$295 million or 17 cents US per di- luted share a year earlier. On an adjusted basis, Barrick says it earned 35 cents US per share in its latest quarter, up from an adjusted profit of 19 cents US per share in the same quarter last year. Revenue for the quarter ended March 31 totalled US$3.13 billion, up from US$2.75 billion a year ago. Gold production amounted to 758,000 ounces, down from 940,000 ounces in the same quarter last year, while cop- per production was 44,000 tonnes, up from 40,000 tonnes a year ago. Barrick’s realized gold price in its first quarter amounted to US$2,898 an ounce, up from US$2,075 last year, while its realized copper price was US$4.51 per pound, up from US$3.86 per pound. — The Canadian Press Fortis posts rise in earnings, revenue ST. JOHN’S — Fortis Inc. reported its first-quarter profit and revenue rose compared with a year ago. The electric and gas utility says it earned a profit attributable to common equity holders of $499 million or $1 per share for the quarter ended March 31. The result was up from a profit of $459 million or 93 cents per diluted share in the same quarter last year. Fortis says the increase was driven by rate base growth across its utilities and the end of Central Hudson’s 2024 general rate application. It says higher U.S. dollar to Canadian dollar exchange rate also helped boost results. Revenue for the quarter totalled $3.34 billion, up from $3.12 billion a year earlier. — The Canadian Press CrowdStrike cuts 500, seeks sales lift CROWDSTRIKE Holdings Inc. is cut- ting about 500 jobs, representing about five per cent of its global workforce, as it works toward a goal of generating US$10 billion in annual recurring revenue. The Austin, Texas-based cybersecur- ity software firm expects about US$36 million to US$53 million in charges from the plan, with the bulk of that covering severance, employee benefits and relat- ed costs, the company said in a filing released Wednesday. The company ex- pects its financial results in the fiscal first quarter ended April 30 to be in line with or above the guidance issued on March 4. CrowdStrike’s shares fell 4.7 per cent in New York on Wednesday to US$422.52. In a letter to employees about the job cuts, CrowdStrike CEO George Kurtz said the company needed to evolve how it operates to earn the trust of custom- ers that expect it to “move faster and operate more securely.” — The Associated Press Foxtron to develop EVs for Mitsubishi FOXTRON, an automaker partly owned by Taiwan iPhone manufacturer Hon Hai Technology Group, and Mitsubishi Motors of Japan said they have agreed to develop an electric vehicle to be sold in Australia and New Zealand. Hon Hai, also known as Foxconn, is one of a growing number of tech com- panies leveraging their knowhow in electronics to try to break into the EV market, snapping up links in the auto- motive supply chain. Foxtron is a joint venture between Hon Hai and Taiwan’s Yulon Motor Co. Yulon makes Nissan vehicles under licence. The two companies said Wednesday the EV developed by Foxtron will be produced by Yulon and introduced in Oceania in the second half of 2026. Foxtron showcased its Model B hatch- back at the Consumer Electronics Show in Las Vegas in January. — The Associated Press ‘Cost impact’: Rivian cuts EV delivery outlook, sees tariffs hitting demand R IVIAN Automotive Inc. said full- year deliveries will decline more sharply than it anticipated just a month ago, citing risks U.S. President Donald Trump’s trade war will further dampen demand for pricey electric ve- hicles. The company now expects to sell 40,000 to 46,000 battery-powered pick- ups, SUVs and delivery vans this year, it said while reporting first-quarter results. That’s down from as many as 51,000 under its prior forecast, which it reaffirmed in early April. Still, the company expects to achieve a modest full-year gross profit. Reducing its sales outlook shows how Trump’s trade policies and related eco- nomic worries risk worsening an exist- ing slowdown in EV demand. Rivian’s earlier guidance had factored in poten- tial impacts from changes to trade and other policies, but Trump has since im- posed a flurry of tariffs on U.S. trading partners and a 25 per cent duty on im- ported vehicles and parts. Those meas- ures have prompted mainstream U.S. and European automakers to tear up their earnings forecasts and prepare for billions of dollars in financial fallout. Rivian CEO RJ Scaringe said tariffs could increase the company’s costs by a few thousands dollars per vehicle. Riv- ian builds all of its cars in the U.S., and said a majority of its components — ex- cluding battery cells — come from the U.S. or comply with a free-trade agree- ment spanning North America. Still, “we are expecting our cost structure to increase by a few thousand dollars,” Scaringe said in an interview. “Beyond 2025, it’s hard to say anything explicit. It certainly will have a cost im- pact.” Rivian’s shares plunged 5.8 per cent in New York on Wednesday. Shifting economic and EV policy is also making consumers more sensitive to higher prices, which could hit sales of Rivian’s flagship R1 SUV and pick- up models, he said. The company’s up- coming R2 has a lower price and uses batteries made in Arizona, which could help it be more resilient to swings in trade policy. The company has no plan to change that vehicle’s US$45,000 starting price due to tariffs, Scaringe said. Rivian stockpiled EV batteries from suppliers in Asia ahead of Trump’s tariffs, including cells from suppliers in China and South Korea, Bloomberg News has reported. Rivian’s first-quarter adjusted loss was 41 cents US a share, better than the 79-cent US average deficit expected by analysts. The company also reaffirmed its full-year forecast for an adjusted loss before interest, taxes, depreciation and amortization of US$1.7 billion to US$1.9 billion. Sales of regulatory credits helped Rivian post a second consecutive quar- terly gross profit, totalling US$206 mil- lion in the first three months. — Bloomberg News KARA CARLSON YUKI IWAMURA / BLOOMBERG Rivian electric vehicles at the company’s showroom in New York. It lost 41 cents US per share in its latest quarterly results. Agnico Eagle Mines L 162.35 -1.76 938 175.33 86.66 Alamos Gold Inc. 37.57 0.03 2,159 42.97 20.65 AltaGas Ltd. 38.94 0.20 962 40.98 29.67 ARC Resources Ltd. 26.67 0.72 1,564 29.90 21.44 AtkinsRéalis Group 72.25 1.04 427 83.94 48.12 Bank of Montreal 135.80 0.76 3,452 151.08 109.02 Bank of Nova Scotia 69.41 0.50 2,738 80.14 60.68 Barrick Gold Corpora 26.85 0.32 6,186 29.50 21.73 BCE Inc. 29.38 -0.33 5,709 49.13 28.73 BMO MSCI EAFE Index 24.95 0.03 49 25.78 21.74 BMO S&P 500 Index ET 85.18 0.74 218 96.98 75.37 BMO S&P/TSX Capped C 33.69 0.24 111 34.67 28.87 Brookfield Infrastru 43.79 0.88 291 50.46 36.57 Brookfield Renewable 31.00 0.26 162 40.84 27.50 CAE Inc. 35.70 0.69 471 39.17 22.28 Cameco Corporation 68.79 2.50 1,249 88.18 48.71 Canadian Imperial Ba 88.43 0.70 2,774 95.50 64.47 Canadian National Ra 138.05 2.45 1,303 175.57 130.02 Canadian Natural Res 39.82 0.54 6,470 53.45 34.92 Canadian Pacific Kan 102.18 0.99 1,800 119.20 94.60 Canadian Tire Corpor 228.00 0.00 0 255.00 192.10 Canadian Tire Corpor 153.19 0.94 170 169.27 131.31 CCL Industries Inc. 72.14 1.03 157 84.70 64.93 CCL Industries Inc. 72.40 0.00 0 83.99 66.28 Cenovus Energy Inc. 16.29 -0.04 5,293 28.82 14.48 CGI Inc. Class A Sub 146.51 2.18 377 175.35 132.06 Colliers Internation 167.39 4.17 55 218.47 145.75 Constellation Softwa 5050.01 82.59 41 5070.26 3605.00 Descartes Systems Gr 148.87 0.64 124 177.98 121.84 Dollarama Inc. 172.39 0.72 535 174.75 116.65 Element Fleet Manage 31.31 0.30 371 31.41 22.19 Emera Incorporated 61.35 0.18 2,266 63.13 44.13 Empire Company Limit 52.34 0.84 373 51.72 31.60 Enbridge Inc. 64.74 1.17 15,141 65.62 47.41 Fairfax Financial Ho 2231.02 36.06 42 2220.00 1425.00 Fairfax Financial Ho 1333.18 0.00 0 1470.00 893.44 First Quantum Minera 18.82 -0.42 2,195 23.28 13.81 FirstService Corpora 241.60 3.53 79 278.19 193.77 Fortis Inc. 68.84 1.31 1,552 68.65 52.19 Franco-Nevada Corpor 235.73 -0.90 279 245.55 156.31 Galaxy Digital Holdi 26.49 0.59 1,014 34.98 11.27 George Weston Limite 271.97 2.42 171 271.73 184.95 Gildan Activewear In 64.72 0.08 401 79.11 44.26 Great-West Lifeco In 51.14 -1.38 5,647 57.61 38.44 Hydro One Limited 53.48 0.57 916 53.41 38.24 IGM Financial Inc. 43.67 -0.14 347 47.96 35.33 Imperial Oil Limited 94.72 0.43 1,329 108.89 82.98 Intact Financial Cor 308.94 -0.31 382 309.58 218.58 iShares Core MSCI EA 41.17 0.03 237 42.19 35.61 iShares Core S&P 500 58.29 0.30 375 63.70 50.16 iShares Core S&P/TSX 40.17 0.27 394 41.31 34.41 iShares S&P/TSX 60 I 38.29 0.27 5,620 39.55 32.39 Ivanhoe Mines Ltd. 12.98 -0.78 4,307 21.32 9.79 Keyera Corp. 43.62 1.10 724 47.90 34.38 Kinross Gold Corpora 21.62 0.62 6,008 21.36 9.13 Loblaw Companies Lim 229.03 2.16 495 228.88 152.39 Lundin Gold Inc. 60.55 -1.15 488 61.72 18.14 Lundin Mining Corpor 11.84 -0.06 2,396 17.97 8.94 Magna International 46.17 0.43 2,402 66.42 43.25 Manulife Financial C 43.43 0.34 10,013 46.42 32.87 Metro Inc. 106.99 1.17 439 106.75 72.18 Molson Coors Canada 89.00 0.00 0 99.93 62.92 Molson Coors Canada 77.87 0.00 0 92.73 65.04 National Bank of Can 123.70 1.22 1,289 141.15 105.43 Newmont Corporation 74.68 -0.49 217 81.16 53.03 Open Text Corporatio 37.20 0.44 535 47.52 32.41 Ovintiv Inc. 46.84 -0.86 220 72.55 42.35 Pan American Silver 33.99 -0.50 1,017 39.70 24.96 Pembina Pipeline Cor 54.55 0.83 1,641 60.72 48.35 Power Corporation of 50.68 -0.86 3,270 52.31 36.08 Quebecor Inc. Class 38.00 0.00 0 38.50 27.99 Quebecor Inc. Class 37.79 -0.04 572 38.26 27.84 RB Global Inc. 142.21 1.82 288 152.48 95.43 Restaurant Brands In 93.00 0.00 0 102.93 86.30 Restaurant Brands In 93.87 0.53 654 104.34 83.32 Rogers Communication 35.26 0.24 2,991 56.55 32.42 Rogers Communication 39.65 -0.04 2 60.50 38.01 Royal Bank of Canada 166.40 0.95 5,303 180.45 137.93 Saputo Inc. 26.11 0.37 443 32.15 22.59 Shopify Inc. Class A 131.29 2.05 2,657 183.53 72.36 Sprott Physical Gold 35.61 -0.41 116 36.53 24.44 Sprott Physical Gold 25.88 -0.24 5 26.38 17.79 Stantec Inc. 126.28 0.46 252 129.39 103.48 Sun Life Financial I 83.62 1.20 2,643 88.54 64.38 Suncor Energy Inc. 46.99 -1.37 17,844 58.58 43.59 TC Energy Corporatio 70.63 1.02 2,014 70.97 50.59 Teck Resources Limit 47.21 -1.73 4 74.15 40.49 Teck Resources Limit 47.02 -1.31 1,359 74.37 40.23 TELUS Corporation 20.77 -0.29 5,698 23.43 19.10 TFI International In 112.52 1.48 246 219.57 102.57 Thomson Reuters Corp 260.92 4.61 341 262.09 214.51 TMX Group Limited 54.81 -0.35 506 56.49 35.65 Toromont Industries 112.46 2.13 141 134.88 107.32 Toronto-Dominion Ban 87.34 -0.11 3,165 88.55 73.22 Tourmaline Oil Corp. 63.68 2.11 1,514 70.83 55.27 Vanguard S&P 500 Ind 138.21 1.28 276 157.38 121.61 Vanguard U.S. Total 103.78 0.90 81 119.12 91.60 Waste Connections In 274.32 1.24 199 284.73 219.62 Wheaton Precious Met 117.47 -0.62 887 120.60 71.18 WSP Global Inc. 255.09 4.79 249 264.87 201.24 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 Canoe Engy Inc Port Cl A 5.87 1.76 NPT Energy Fund Ser A 23.71 1.70 Canoe Energy Port Cl A 9.54 1.67 Pender Value Fund Class A 19.51 1.55 TD Sci & Tech Fd Inv 137.20 1.46 Scot WthCdnSmlCapPool Pin 35.02 1.44 Scot Wth US Val Pool Pin 22.66 1.44 TD USMid-CapGrowthFd -I 136.39 1.44 RBC US Mid-Cap Gw Eq Fd A 46.27 1.43 PH&N CdnCus LT FixIn Fd O 8.13 1.40 Scot WthUSMidCapValPool P 21.70 1.38 Fidelity Adv US Equ Fd B 8.60 1.33 NEI Cdn Equ Pl I 12.64 1.32 Canadian Equity COMPANY CLOSE CHG NEI Cdn Equ Pl I 12.64 1.32 Lei Whe Cdn Equity Fd F 78.82 1.18 NEI Cdn Equity RS Fund A 28.79 1.07 IAC Inh Cdn Equ SRI Cl A 20.80 1.07 PH&N Cons Equ Inc Fd O 16.35 1.06 LW Carbon Constr Can Eq F 15.65 1.03 Counsel MultFact Cdn Eq P 14.53 1.01 Mawer Cdn Equity Fd A 100.25 0.99 Scot Wth Cdn Grw Pool Pin 29.59 0.97 PH&N Vintage Fund Ser D 56.46 0.95 ATBIS Cdn Equ Pool-F1 14.80 0.95 CL CdnGrwFd A 23.59 0.94 Inv Pure Cdn Equ Fd A 29.74 0.93 Canadian Fixed Income COMPANY CLOSE CHG Fid Cdn Bond Fd B 13.27 0.51 Fid Prem Fix Inc PP B 10.47 0.51 Lys-Cso Bond Fund A 10.74 0.46 BDQ Bond Fund 10.50 0.45 MD Fos Fuel Fre Bond Fd A 8.99 0.45 SL Net Zo Tgt Bd Fd 10.20 0.44 MD Bond Fund Series A 6.96 0.43 IA Wlth C Bd Pl A 11.79 0.43 Dyn Act Core Bond Pv Pl F 8.50 0.43 SEI Cdn Fixed Income Fd O 10.66 0.43 NEI Fixed Income Pool I 9.19 0.42 Dyn Cdn Bond Fd A 4.75 0.42 Scot Wth Cdn Cor Bon Pl P 8.92 0.42 Global Equity COMPANY CLOSE CHG Canadian Dollar 41,113.97 17,738.16 DOW NASDAQ S&P 500 S&P/TSX +284.97 +48.50 +24.37 +186.46 25,161.185,631.28 +0.16 -30.90-1.02 OIL GAS GOLD SILVER US$58.07 US$3.62 US$3,391.90 US$32.79 -0.59 DOLLAR 72.48¢ -0.07 24,000 25,000 23,000 26,000 22,000 DAILY CLOSE, PAST 30 DAYS II March April May Manitoba Stocks Ag Growth Int’l Inc. 36.23 2.36 201,711 Artis REIT 7.39 0.05 69,304 BCE Inc. 29.38 -0.33 5,708,751 Bird River Resources Inc. 0.06 0 - Boyd Group Services Inc. 201.10 -0.53 55,709 Exchange Income Corp. 53.84 1.01 78,578 FP Newspapers Inc. 0.60 -0.01 2,500 Gossan Resources Ltd. 0.03 0.005 53,000 Great West Lifeco Inc. 51.14 -1.38 5,646,779 Hudbay Minerals Inc. 10.36 -0.23 986,279 IGM Financial Inc. 43.67 -0.14 346,655 Kane Biotech Inc. 0.08 0 23,000 Medicure Inc. 0.83 Pc - NFI Group Inc. 12.17 0.01 282,455 North West Co. Inc. New 56.87 0.9 138,123 Pollard Banknote Ltd. 20.30 0.22 6,677 Winpak Ltd. 42.85 0.35 18,636 Marwest Apartment REIT 0.74 0 35 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY May ‘25 - 688.30 - 688.30 681.30 Jul 696.80 705.60 689.00 701.30 693.70 Nov 655.90 663.90 652.20 663.00 655.90 Jan ‘26 664.80 672.00 661.00 671.30 664.80 Mar 674.50 678.80 669.30 678.40 672.50 May 681.40 684.90 676.00 684.70 679.40 Jul 686.90 690.00 681.60 689.80 685.10 Nov - 657.90 - 657.90 652.90 Jan ‘27 - 660.60 - 660.60 655.60 Mar - 656.00 - 656.00 651.00 May - 655.80 - 655.80 650.80 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 0.891 Brazilian real 0.2404 Chinese renminbi 0.1909 European euro 1.5657 Hong Kong dollar 0.1778 Indian rupee 0.01629 Indonesian rupiah 0.000083 Japanese yen 0.00962 Mexican peso 0.07039 New Zealand dollar 0.8241 Norwegian krone 0.1339 Peruvian new sol 0.3776 Russian ruble 0.01706 Saudi riyal 0.3678 Singapore dollar 1.0679 South African rand 0.07564 South Korean won 0.000991 Swedish krona 0.1435 Swiss franc 1.6795 Taiwanese dollar 0.0455 Turkish lira 0.0357 UK pound sterling 1.8408 US dollar 1.3796 A U.S. dollar cost $1.3796 based on daily average Lazard Glo Comp Fd A 22.34 1.14 BMO SustainOppGloEquFd A 20.71 1.12 NEI Glo Corp Lead Fd A 10.65 1.11 Dyn Gbl Discovery Fd A 45.68 1.09 RBC Vision Gbl Equ Fd A 21.50 1.01 CIBC Tech Innov A 70.01 1.00 Mac BW NG Gr F A 15.17 1.00 Dyn Gbl Dividend Fd A 24.18 0.96 ROMC Trust Series A 26.46 0.93 PH&N Global Equity Fund D 32.79 0.93 Chou Associates Fund A 188.42 0.93 RBC Gbl Equ Foc Fd A 24.09 0.93 RBC Glo Equ Leaders A 10.60 0.89 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. ;