Winnipeg Free Press

Winnipeg Free Press (Newspaper) - November 13, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS THURSDAY, NOVEMBER 13, 2025 Boyd Group reports US$10.8M Q3 profit BOYD Group Services Inc. reported a third-quarter profit of US$10.8 million, up from US$2.9 million in the same quarter last year. The autobody repair shop company, which keeps its books in U.S. dollars, says the profit amounted to 50 cents US per diluted share for the quarter ended Sept. 30 compared with a profit of 13 cents US per diluted share a year ago. Sales totalled US$790.2 million, up from US$752.3 million in the same quarter last year. On an adjusted basis, Boyd Group says it earned 62 cents US per share in its latest quarter compared with an ad- justed profit of 15 cents US per share a year ago. Same-store sales were up 2.4 per cent. Last month, Boyd Group announced a deal to buy Joe Hudson’s Collision Cen- ter for US$1.3 billion in an agreement that will add 258 locations in the south- eastern U.S. — The Canadian Press Sour Puss moves some production to Canada MONTREAL — The head of the Sour Puss liqueur brand says he had no choice but to move part of its produc- tion line north of the border to Montreal amid the Canada-U.S. trade war. Andy England, chief executive of Phillips Distilling Co., says it lost vir- tually all of its business in Canada after U.S. President Donald Trump set off a tariff tit-for-tat that prompted provin- cial alcohol distributors to clear their shelves of American booze. He says nearly 98 per cent of the one million Sour Puss bottles it sold last year were in Canada, amounting to Canadian sales of $23 million. The Minnesota-based distiller kicked off production of Sour Puss in Montreal for the Canadian market on Wednesday. It says the raspberry-flavoured li- queur will be made at Station 22 distil- lery under a multi-year deal, with bot- tles to hit store shelves next month. — The Canadian Press CDN private equity deals top $56B in first 9 months TORONTO — A new report says Can- ada saw a record-breaking $56.5 billion in private equity deals in the first nine months of the year to rise well above pre-COVID-19 pandemic levels. The Canadian Venture Capital and Private Equity Association says the total came as the sector recorded 483 transactions. It says much of the record was driv- en by four large privatization deals as companies shifted away from what it called volatile public markets. The largest private equity deals so far this year include management taking Garda World Security Corp. private in a $14-billion deal, an Abu Dhabi sover- eign wealth fund buying CI Financial for $12.1 billion and La Caisse acquir- ing Innergex Renewable Energy Inc. for $10 billion. The association says 86 per cent of deals were below $25 million. — The Canadian Press Toyota pledges to invest up to US$10B in U.S. operations TOYOTA Motor Corp. confirmed it will plow as much as US$10 billion into the United States over the next five years to boost its local operations, less than a month after U.S. President Donald Trump flagged the Japanese carmaker planned such an investment. The announcement clears up a con- fusing moment from Trump’s visit to Tokyo last month, when he said Toyota would build plants all over the U.S. “to the tune of over $10 billion.” At the time, the automaker wouldn’t confirm such a plan, calling it mere “speculation.” In a statement marking the start of production at its new battery plant in North Carolina on Wednesday, the automaker provided no further detail, saying only it will spend the funds “to support future mobility efforts.” — Bloomberg News ERIC GAY / THE ASSOCIATED PRESS FILES A drilling rig near Kennedy, Texas, in the oil-producing region known as the Eagle Ford shale formation. Baytex Energy exits U.S. in $3.25B deal, focuses on higher-return assets C ALGARY — Baytex Energy Corp. is turning its focus to Canada, an- nouncing plans to divest its pos- ition in the Eagle Ford shale formation in Texas — the biggest part of its busi- ness — through a $3.25-billion deal. The assets being sold to an undis- closed buyer represent all of Baytex’s U.S. operations. They produced an average of almost 83,000 barrels of oil equivalent per day during the third quarter, comprising a mix of light oil and condensate, natur- al gas liquids and natural gas. That’s greater than the Canadian business that remains, with daily production of about 65,000 barrels of oil equivalent per day during the first nine months of the year. “This transaction positions Baytex as a focused, high-return Canadian energy producer,” chief executive Eric Greager said in a news release Wednes- day. “Consistent with our disciplined ap- proach to portfolio management, we continually review our asset base to maximize long-term value. Monetizing our U.S. Eagle Ford assets strengthens our balance sheet, supports capital allo- cation to our highest-return opportun- ities and positions us to deliver mean- ingful shareholder returns.” Shares in Baytex jumped more than 13 per cent in trading on the TSX, gain- ing 51 cents to $4.25. Once the deal is complete, Baytex will focus on being a Canadian energy producer with heavy oil operations in the Peavine and Peace River regions in Alberta and the Lloydminster area in Alberta and Saskatchewan. It also has light oil operations in the Pembina Du- vernay region in Alberta and in the Vi- king area in Saskatchewan and Alberta. It says it now has more than 2,200 drilling locations that can deliver an- nual production growth of three to five per cent at a US$60 to US$65 West Texas Intermediate oil price — and faster growth if prices improve. The transaction is expected to close in late 2025 or early 2026, subject to customary closing conditions and regu- latory approvals. It’s been a tough time for oil and gas producers in the southern U.S. The latest Dallas Fed Energy Survey released in September found increased pessimism among the 139 energy firms in Texas, northern Louisiana and south- ern New Mexico that responded. “It was another lacklustre quarter for the industry according to our sur- vey respondents, as activity and oil pro- duction fell slightly while many costs continued to increase,” said Michael Plante, assistant vice-president at the Federal Reserve Bank of Dallas. Seventy-eight per cent of executives from exploration, production and de- velopment firms reported that they had delayed investment decisions due to un- certainty around oil prices and costs, Plante added. Another company announced plans recently to grow its footprint in Canada while reducing its U.S. holdings. Ovintiv Inc. announced last week it’s looking to acquire NuVista Energy Ltd. for $3.8 billion, adding lands in the Montney formation that stretches through parts of Alberta and British Columbia. At the same time, Ovintiv also an- nounced plans to divest its assets in the Anadarko Basin in Oklahoma next year. Ovintiv used to be known as Encana and based in Calgary, but rebranded and moved head offices to Denver in 2020. — The Canadian Press LAUREN KRUGEL Agnico Eagle Mines L 242.45 7.40 933 263.23 105.23 Alamos Gold Inc. 47.14 1.37 791 52.73 24.47 AltaGas Ltd. 42.83 0.54 873 43.81 32.02 Aritzia Inc. Subordi 97.69 -0.02 276 100.37 36.51 AtkinsRéalis Group 88.66 0.91 512 106.38 59.47 Bank of Montreal 176.88 1.49 2,904 182.90 121.31 Bank of Nova Scotia 95.00 1.46 4,242 94.29 62.57 Barrick Mining Corpo 52.32 2.14 5,558 51.09 21.73 BCE Inc. 31.90 -0.89 5,771 39.83 28.73 BMO Aggregate Bond I 14.01 -0.01 326 14.23 13.58 BMO MSCI EAFE Index 28.44 0.17 33 28.29 21.74 BMO S&P 500 Index ET 105.06 0.04 129 106.00 75.37 BMO S&P/TSX Capped C 41.29 0.55 78 41.20 29.70 Brookfield Infrastru 50.08 -0.02 352 50.60 36.61 Brookfield Renewable 40.97 -0.21 277 45.73 27.50 CAE Inc. 38.41 0.02 1,320 41.38 26.47 Cameco Corporation 129.68 0.08 807 153.59 49.75 Canadian Imperial Ba 121.89 1.77 1,860 120.43 76.17 Canadian National Ra 137.11 2.68 1,220 157.95 126.11 Canadian Natural Res 45.42 0.04 6,785 48.92 34.92 Canadian Pacific Kan 101.46 1.42 1,188 118.80 94.60 Canadian Tire Corpor 242.25 0.00 0 274.01 191.75 Canadian Tire Corpor 169.88 -2.57 355 194.39 139.50 Canadian Utilities L 42.57 0.61 697 42.23 33.19 CCL Industries Inc. 81.49 0.00 0 82.95 66.28 CCL Industries Inc. 87.37 5.97 817 84.69 64.93 Cenovus Energy Inc. 25.41 -0.17 7,994 25.97 14.48 CGI Inc. Class A Sub 122.51 1.05 596 175.35 117.71 Constellation Softwa 118.00 -0.50 177 122.99 112.99 Constellation Softwa 3355.73 98.46 62 5300.00 3183.37 Dollarama Inc. 191.26 2.38 683 198.66 132.37 Element Fleet Manage 37.81 1.17 737 38.26 25.00 Emera Incorporated 66.71 0.11 1,786 69.62 49.58 Empire Company Limit 50.87 1.44 661 58.32 39.60 Enbridge Inc. 68.25 0.57 12,805 70.39 56.51 Equinox Gold Corp. 18.40 1.06 2,974 18.15 7.12 Fairfax Financial Ho 2252.77 48.81 54 2522.33 1836.92 Fairfax Financial Ho 1616.14 0.00 0 1785.63 1068.40 First Quantum Minera 30.85 0.99 1,640 33.88 14.41 Fortis Inc. 73.74 1.10 4,014 73.43 57.98 Franco-Nevada Corpor 280.10 7.83 236 314.53 157.70 George Weston Limite 89.69 3.40 323 93.62 70.92 Gildan Activewear In 81.97 2.90 346 87.13 52.77 Great-West Lifeco In 62.28 1.37 1,922 61.39 44.89 Hydro One Limited 52.64 0.48 641 53.98 42.52 IGM Financial Inc. 57.32 1.06 369 56.62 38.89 Imperial Oil Limited 135.56 0.88 728 135.47 82.98 Intact Financial Cor 284.23 7.81 392 317.35 250.28 iShares Core MSCI EA 46.94 0.22 181 46.76 35.61 iShares Core S&P 500 70.27 0.05 141 70.99 50.16 iShares Core S&P/TSX 49.22 0.66 143 49.15 35.41 iShares S&P/TSX 60 I 45.99 0.55 3,109 45.77 33.87 Ivanhoe Mines Ltd. 13.12 0.53 4,115 20.77 8.76 Kinross Gold Corpora 36.50 1.01 4,024 39.09 12.79 Loblaw Companies Lim 58.62 2.09 2,056 59.70 43.32 Lundin Gold Inc. 114.72 5.21 1,055 116.20 29.42 Lundin Mining Corpor 26.18 0.84 1,943 26.00 8.94 Magna International 70.54 0.74 1,256 71.08 43.25 Manulife Financial C 48.24 1.24 4,385 47.59 36.93 Metro Inc. 97.05 3.30 891 109.20 84.50 Molson Coors Canada 65.84 -1.65 1 92.73 61.75 Molson Coors Canada 68.94 0.00 0 99.93 68.44 National Bank of Can 163.03 2.10 1,747 161.12 106.67 Open Text Corporatio 48.76 -0.20 895 56.00 32.41 Ovintiv Inc. 53.55 -1.65 650 66.67 42.35 Pan American Silver 53.74 1.06 1,221 59.73 28.50 Pembina Pipeline Cor 53.36 0.23 1,485 60.72 48.35 Power Corporation of 69.88 1.14 1,437 68.75 41.88 Quebecor Inc. Class 51.50 1.67 1,095 49.88 30.02 Quebecor Inc. Class 51.50 1.22 10 50.95 30.08 RB Global Inc. 142.75 1.97 280 164.85 125.00 Restaurant Brands In 96.92 0.41 471 101.52 83.32 Restaurant Brands In 97.09 1.37 1 100.22 85.47 Rogers Communication 53.79 0.34 1,135 56.15 32.42 Rogers Communication 53.50 -0.79 1 56.04 38.01 Royal Bank of Canada 208.76 1.95 1,919 208.34 151.25 Saputo Inc. 37.36 0.44 1,036 37.18 22.59 Shopify Inc. Class A 219.49 -3.22 1,299 253.10 99.32 Sprott Physical Gold 44.80 0.76 255 46.74 27.53 Sprott Physical Gold 32.06 0.84 2 33.22 19.64 Sprott Physical Silv 24.81 0.96 690 25.50 13.81 Stantec Inc. 151.04 0.03 336 160.05 107.23 Sun Life Financial I 82.80 1.62 1,596 91.11 74.56 Suncor Energy Inc. 61.92 0.20 7,104 61.91 43.59 TC Energy Corporatio 76.72 1.75 2,692 77.26 62.17 Teck Resources Limit 61.11 0.75 2 67.65 40.49 Teck Resources Limit 61.24 1.10 759 67.77 40.23 TELUS Corporation 20.55 -0.14 5,014 23.29 19.10 Thomson Reuters Corp 193.75 1.29 608 299.24 188.67 TMX Group Limited 52.61 2.06 707 57.98 42.47 Toromont Industries 164.86 0.72 188 168.56 107.32 Toronto-Dominion Ban 115.89 1.54 3,098 116.49 73.22 Tourmaline Oil Corp. 62.39 0.12 7,187 70.83 55.40 Vanguard FTSE Canada 62.87 0.79 73 62.79 45.49 Vanguard S&P 500 Ind 170.23 -0.01 274 171.60 121.61 Vanguard U.S. Total 127.74 0.00 29 128.80 91.60 Waste Connections In 236.50 2.01 213 284.73 229.10 Wheaton Precious Met 150.99 5.19 782 160.44 79.88 Whitecap Resources I 10.87 -0.11 3,229 11.30 6.87 WSP Global Inc. 258.06 -0.93 186 291.46 217.42 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 Ninepoint Silver Equ Fd A 16.11 4.82 CANL Prec Mtl Fd A 47.74 4.01 NPT Silver Bullion A 14.44 3.91 BMO Prec Metals Fd A 65.75 3.72 RBC Gbl Prec Mtls Fd A 135.33 3.70 TD Precious Metals Fd Inv 132.98 3.53 NPT Gold&PrecMinFd A 122.32 2.79 Dyn Precious Metals Fd A 33.49 2.68 Lys-Tri Cdn Sm Cp Eq Fd A 12.26 2.49 Dyn Strat Gold Cl A 45.38 2.48 NEI Cdn Sm Cap Equ Fd A 47.12 2.22 BMO Resource Fd A 74.89 2.18 TD Cdn Sm-Cap Equ Fd Inv 59.56 2.14 Canadian Equity COMPANY CLOSE CHG Fid Cdn Opport Fd B 39.76 2.10 NEI Cdn Equity RS Fund A 32.61 1.93 Gdian Cdn Equity Fund I 281.96 1.86 Gdian Cdn Growth Equ Fd I 49.89 1.86 RBC QUBELVCdnEquFd A 21.41 1.82 Counsel MultFact Cdn Eq P 16.48 1.81 RBC O’Sh All-Cdn Eq Fd A 22.98 1.79 Vis QUBE FFF LV Cdn Eq A 17.48 1.77 BMO LowVoCdnEquETFFd A 16.98 1.74 TD Cdn Low Vol Fd Inv 9.96 1.74 Veritas Canadian Equity F 18.48 1.72 TD Cdn Low Vol Cl Inv 18.00 1.69 SEI Cdn Equity Fd O 32.60 1.69 Canadian Fixed Income COMPANY CLOSE CHG Lys-Cso Bond Fund A 10.88 0.24 Mac Strat Bond Fd A 9.38 0.23 NEI Cdn Imp Bd Fd A 10.17 0.23 SEI Cdn Fixed Income Fd O 10.74 0.22 IG Mac Cdn Bd FdCNL 10.12 0.22 Rus Inv Fx Inc Pl B 10.21 0.22 BMO Core Plus Bond Fd A 9.53 0.22 BMO Core Bond Fd A 9.46 0.22 Mac Cdn Bond Fund A 12.91 0.22 Dyn Act Core Bond Pv Pl F 8.54 0.22 CounselCanCoreFixIncSerO 9.08 0.22 BMO Sustainable Bond A 9.10 0.22 NEI Fixed Income Pool I 9.27 0.22 Global Equity COMPANY CLOSE CHG Canadian Dollar 48,254.82 23,406.46 DOW NASDAQ S&P 500 S&P/TSX +326.86 -61.84 +4.31 +418.33 30,827.586,850.92 -0.03 +97.30-2.55 OIL GAS GOLD SILVER US$58.49 US$4.53 US$4,213.60 US$53.46 +2.71 DOLLAR 71.40¢ +0.07 30,100 30,550 29,650 31,000 29,200 DAILY CLOSE, PAST 30 DAYS I October November Manitoba Stocks Ag Growth Int’l Inc. 33.09 0.9 31,641 Artis Real Estate Investment Trust 6.85 0.03 343,886 BCE Inc. 31.90 -0.89 5,771,234 Bird River Resources Inc. 0.12 0.01 171,000 Boyd Group Services Inc. 225.00 13.23 154,223 Exchange Income Corp. 76.26 2.1 116,863 FP Newspapers Inc. 0.75 0 - Gossan Resources Ltd. 0.02 -0.015 356,000 Great West Lifeco Inc. 62.28 1.37 1,738,609 Hudbay Minerals Inc. 23.83 0.55 2,652,869 IGM Financial Inc. 57.32 1.06 368,747 Kane Biotech Inc. 0.04 0.005 150,000 Medicure Inc. 1.29 0 300 NFI Group Inc. 13.57 0.13 133,941 North West Co. Inc. New 48.07 0.86 146,337 Pollard Banknote Ltd. 20.00 0.06 13,586 Winpak Ltd. 43.31 -0.19 149,551 Marwest Apartment REIT 0.75 0 0 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY Nov ‘25 - 634.40 - 634.40 632.50 Jan ‘26 645.50 647.90 636.40 647.40 645.50 Mar 656.90 658.80 648.00 658.30 656.80 May 666.50 667.90 657.90 667.50 666.50 Jul 673.20 674.10 665.00 673.50 673.30 Nov 668.20 668.60 661.90 668.30 668.90 Jan ‘27 - 675.50 - 675.50 676.10 Mar - 678.50 - 678.50 679.10 May - 678.50 - 678.50 682.10 Jul - 678.80 - 678.80 688.90 Nov - 673.20 - 673.20 683.30 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 0.916 Brazilian real 0.2646 Chinese renminbi 0.1969 European euro 1.6224 Hong Kong dollar 0.1802 Indian rupee 0.01581 Indonesian rupiah 0.000084 Japanese yen 0.00905 Mexican peso 0.07652 New Zealand dollar 0.7931 Norwegian krone 0.1389 Peruvian new sol 0.4158 Russian ruble 0.01722 Saudi riyal 0.3734 Singapore dollar 1.0756 South African rand 0.08195 South Korean won 0.000954 Swedish krona 0.1481 Swiss franc 1.7554 Taiwanese dollar 0.04504 Turkish lira 0.0332 UK pound sterling 1.838 US dollar 1.4005 A U.S. dollar cost $1.4005 based on the daily average ROMC Trust Series A 28.41 1.49 Lys-Smrk Tot Equity Fd A 18.54 1.06 En Equity Fd A 29.25 0.88 Mac Cdl Value Fund AG 52.08 0.86 Mac Cundill Val Fd II A 27.10 0.86 Fidelity Cl Lead Fd A 14.15 0.83 Mac GblWomen’sLdr A 17.62 0.82 NEI Glo Value Fd A 17.82 0.81 BMO Glo Clim Trans Fd A 14.36 0.77 Chou Associates Fund A 202.10 0.76 Fid Global Equity+ Fd F 14.32 0.65 Lys-Tri All Cou Equ Fd A 18.07 0.61 TD MgdMaxEqGrwPort Inv 28.46 0.60 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. ;