Stock news for investors: Air Canada, Barrick, Canadian Tire, and more

Cargojet says its total revenue reached $275.8 million during the quarter, rising year-over-year from $238.2 million. 

The company says its board of directors declared a cash dividend of 38.5 cents per common share. Pauline Dhillon, the Cargojet CEO, says the company’s strategy allows it to dynamically deploy assets to the highest return opportunities. In May, Dhillon stated the company has mechanisms in place to protect against higher fuel costs. 

RBC, BMO agree to sell payment processing company Moneris for about $2 billion

Royal Bank of Canada and BMO Financial Group have agreed to jointly sell Moneris Solutions Corp.   

Payment processing company Moneris says it will be acquired by Francisco Partners for a cash consideration of about $2 billion, with BMO and RBC each receiving a 50% share. Following the closing of the transaction, RBC and BMO will enter into a long-term customer referral arrangement with Moneris. 

The deal remains subject to closing conditions and regulatory approvals, and is expected to close by the end of the first quarter of the 2027 fiscal year.   

As part of the transaction, Jeff Sloan, former CEO of Global Payments Inc., will join the Moneris board as chairman. James Hicks, president and CEO at Moneris, says that Francisco Partners brings deep global expertise in technology and payments and is well positioned to accelerate its strategy.  

Barrick announces deal with Newmont on Nevada Gold Mines JV

Barrick Mining Corp. says its second-quarter profit rose compared with a year ago, as the company also announced an agreement with Newmont Corp. to amend their Nevada Gold Mines joint venture.

Barrick, which keeps its books in U.S. dollars, says it earned US$1.22 billion or 73 cents US per diluted share for the quarter ended June 30. The result compared with a profit of US$811 million or 47 cents US per share in the same quarter a year earlier. On an adjusted basis, Barrick says it earned 82 cents US per share in its latest quarter, up from an adjusted profit of 47 cents US per share in the same quarter last year.

Article Continues Below Advertisement

Skip Ad

X

Revenue totalled US$5.29 billion, up from US$3.68 billion in the second quarter of 2025.

Barrick says gold production in the quarter totalled 796,000 ounces compared with 797,000 ounces a year ago, while gold sales amounted to 801,000 ounces, down from 770,000 ounces a year earlier.

The company’s realized gold price was US$4,417 per ounce, up from US$3,295 in the same quarter last year.

Under its agreement with Newmont, Barrick says its Fourmile project and Newmont’s Fiberline and Mike developments will now be part of the pair’s Nevada Gold Mines joint venture. Newmont has also provided its consent to Barrick’s proposed IPO of its North American gold assets.

Air Canada shares soar after it sells 25% stake in Aeroplan for $2.5 billion

Air Canada shares are taking flight after the country’s largest airline announced it would sell a quarter of its Aeroplan loyalty program to Blackstone and a group of Canadian pension funds for $2.5 billion. The carrier’s stock price jumped 15% after markets opened Wednesday before settling to a roughly 10 per cent increase following the announcement the night before.

The sale marks a windfall for the Montreal-based company just as high fuel prices from the Middle East war deliver a half-billion-dollar hit to its earnings this year.

The Aeroplan buyers are led by private equity giant Blackstone and the Caisse de dépôt et placement du Québec, with the Public Sector Pension Investment Board and the British Columbia Investment Management Corp. among the other investors.

Air Canada says it will maintain full control of the travel reward program’s day-to-day operations.

It plans to use proceeds from the deal to repay $1.7 billion in bonds and buy back up to $800 million in shares in September.

The sale is set to close on Monday.

Maple Leaf Foods reports $40.8M Q2 profit, sales up from year ago

Maple Leaf Foods Inc. reported a second-quarter profit of $40.8 million, down from $57.8 million a year ago, as its sales rose 1.6%. The company says the profit amounted to 33 cents per share for the quarter ended June 30 compared with a profit of 47 cents per share in the same quarter last year.

Sales totalled $1.02 billion, up from $1.00 billion.

Maple Leaf says poultry sales rose 7.1%, driven by higher volumes, improved channel mix, and pricing.

Prepared foods sales decreased two per cent, driven by lower volumes and increased trade promotion spending.

On an adjusted basis, Maple Leaf says it earned 44 cents per share in its latest quarter, up from an adjusted profit of 33 cents per share in the second quarter of 2025.

Grocery and drugstore retailer Metro reports Q3 profit down from year ago

Grocery and drugstore retailer Metro Inc. reported a third-quarter profit of $211.3 million, down from $323 million a year earlier. The company says the profit amounted to $1.00 per diluted share for the 16-week period ended July 4 compared with a profit of $1.48 per share in the same quarter last year.

Sales for the quarter totalled $6.97 billion, up from $6.87 billion a year earlier.

The increase came as food same-store sales were down 1.5% for the quarter. Pharmacy same-store sales were up 4.8%, boosted by a 6.4% increase in prescription drugs and a 1.4% increase in front-store sales.

On an adjusted basis, Metro says it earned $1.24 per diluted share in its latest quarter, down from $1.52 per diluted share a year earlier.

Canadian Tire reports Q2 profit and revenue up from year ago

Canadian Tire Corp., Ltd. reported its second-quarter profit rose compared with a year ago as its revenue also climbed higher. The retailer reported net income of $214.2 million or $3.65 per diluted share for the quarter ended July 4, up from $188.3 million or $3.07 per diluted share a year earlier.

On a normalized basis, Canadian Tire says it earned $3.94 per diluted share, up from a normalized profit of $3.57 per diluted share in the second quarter of 2025.

Revenue for the quarter totalled $4.30 billion, up from $4.20 billion a year earlier.

Overall comparable sales were up 0.7%, driven by growth at SportChek and Mark’s. Canadian Tire comparable sales fell 0.8%, while SportChek comparable sales rose 8%. Mark’s comparable sales added 4.2%.

Read more news:

• Stock news for investors: Quarterly earnings from Telus, Shopify, BCE, and more
• How to avoid these common RESP withdrawal mistakes
• What we lost when spending got easier
• Why Gen Z is getting better at saying “I can’t afford it” 

About The Canadian Press

The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

Linkedin Twitter Website