|Bid||27.00 x 0|
|Ask||27.18 x 0|
|Day's Range||26.85 - 27.60|
|52 Week Range||15.00 - 48.07|
|Beta (5Y Monthly)||2.69|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 12, 2020|
|Forward Dividend & Yield||0.60 (2.22%)|
|Ex-Dividend Date||Sep. 29, 2020|
|1y Target Est||40.71|
WINNIPEG, MB, Sept. 16, 2020 /CNW/ - Ag Growth International Inc.
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,295.66, down 135.61 points.)Baytex Energy Corp. (TSX:BTE). Energy. Down one cents, or 1.67 per cent, to 59 cents on 19.7 million shares.Bombardier Inc. (TSX;BBD.B). Industrials. Up three cents, or 6.1 per cent, to 44 cents on 14.5 million shares.SSR Mining Inc. (TSX:SSRM). Materials. Up eight cents, or 0.27 per cent, to $29.39 on 12.5 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up 34 cents, or 1.93 per cent, to $17.96 on 9.1 million shares. Canadian Natural Resources (TSX:CNQ). Up 82 cents, or 3.48 per cent, to $24.38 on 9 million shares. Air Canada (TSX:AC). Industrials. Up $1.03, or 5.74 per cent, to $18.97 on 8 million shares.Companies in the news: Bombardier Inc. (TSX:BBD.B). Up three cents, or 6.1 per cent to 44 cents. Bombardier Inc. has cemented the terms of its rail division sale to Alstom SA in a multibillion-dollar deal that will bolster the plane-and-train maker's books but leave it with less than originally expected. The Montreal-based company said Wednesday it has signed a definitive agreement with the French train giant following a memorandum of understanding earlier this year. Bombardier expects net proceeds of about US$4 billion (C$5.30 billion) including US$585 million in Alstom shares for a fixed subscription price of 47.50 euros per share. The estimate falls up to 11 per cent below the expected net proceeds of between US$4.2 billion and US$4.5 billion that Bombardier projected when the takeover of its largest segment was announced in February.Ag Growth International Inc. (TSX:AFN). Down $4.06 or 12.8 per cent to $27.56. Shares in Ag Growth continued to fall on the Toronto Stock Exchange Wednesday after a newly developed commercial grain storage bin it manufactured collapsed while being unloaded at North Vancouver's Fibreco Export Inc. terminal. The cause and responsibility for the incident last Friday afternoon is not known and therefore it is unable to determine if any financial damage will result, the Winnipeg company said in a statement on Tuesday morning. An investigation into the incident is continuing and there are no results to report as yet, said Fibreco president Megan Owen-Evans in an email on Wednesday.Manulife Financial Corp. (TSX:MFC). Down one cent to $19.27. Manulife Financial is offering COVID-19-related travel insurance for Canadians who take international and domestic trips, eliciting mixed reactions from the industry. The policy, slated to roll out in October, will provide emergency medical coverage that includes the coronavirus and related conditions. It will also provide some coverage linked to trip interruptions or cancellations in the event of quarantine, Manulife said in a release Wednesday. The new "pandemic travel plan" includes visits to regions subject to a Level 3 travel advisory, which warns against non-essential travel and which Canada has issued for all countries.This report by The Canadian Press was first published Sept. 16, 2020.Ross Marowits, The Canadian Press
WINNIPEG — Shares in Ag Growth International Inc. continued to fall on the Toronto Stock Exchange Wednesday after a newly developed commercial grain storage bin it manufactured collapsed while being unloaded at North Vancouver's Fibreco Export Inc. terminal.The cause and responsibility for the incident last Friday afternoon is not known and therefore it is unable to determine if any financial damage will result, the Winnipeg company said in a statement on Tuesday morning.Ag Growth's shares closed at $4.06, down 12.56 per cent at $27.56 on Wednesday after falling 9.1 per cent on Tuesday.An investigation into the incident is continuing and there are no results to report as yet, said Fibreco president Megan Owen-Evans in an email on Wednesday."The grain silo involved is 115 feet (35 metres) high and has capacity for up to 3,500 metric tonnes of cargo," she said, adding it was unloading red lentils for shipment at the time of the incident."For our customers and employees, we are doing everything we can to safely resume operations as quickly as possible."She said all similar silos have been taken out of service.Fibreco said in a statement posted on its website on Saturday the bin collapsed due to a "structural failure" during loading. It said no one was injured.The terminal company, owned by a consortium of forestry firms, announced in 2018 it would add bins and other equipment as part of a plan to replace the shipping of wood chips with agricultural products while continuing to export wood pellets.Ag Growth, meanwhile, said in its statement the bin that collapsed is part of a new product line it developed for two commercial projects, adding 15 of the bins are located at Fibreco and an additional 20 have been manufactured for another customer but have not yet been commissioned.It says it plans to investigate all bins in the product line.CIBC analyst Jacob Bout pointed out in a note to investors that Ag Growth previously spent about $20 million on project rework at the same site due to a design flaw, although that's not believed to be related to the collapse."We have not updated our estimates at this point, given that it is difficult to estimate what (if any) the financial impact could be as the cause and any responsibility for the incident are not yet known," he said."But clearly this issue is an overhang for AFN’s share price."By Dan Healing in Calgary.This report by The Canadian Press was first published Sept. 16, 2020.Companies in this story: (TSX:AFN)The Canadian PressNote to readers: This is a corrected version of the article. The original incorrectly stated the bin was being loaded.