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Suncor Energy Down Nearly 3% on Q1

Suncor Energy Inc (SU.TO), one of Canada's biggest energy companies, is down nearly 3% on the TSX despite announcing that Q1 profit rose 32% on higher oil sands production volumes and higher realized prices in upstream operations.

Suncor said it earned $1.03 billion or 65 cents a share, up from year-earlier $779 million or 50 cents a share.

Excluding unusual items, profit rose to $1.45 billion or 84 cents a share, from $370 million or 24 cents a share.

Analysts on average were expecting earnings of 77 cents a share, according to Thomson Reuters I/B/E/S.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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