The S&P/TSX Composite Index (INDEXES:OSPTX) traded at 19,599.29 early last Friday morning (July 29) and eventually closed a five-day period higher at 19,692.98.
The index continued its upward trend and was on track for its first monthly gain in three months, thanks to higher commodity prices and as data showed the Canadian economy likely grew more than Bank of Canada forecasts. Meanwhile, the US economy shrank unexpectedly in the second quarter, and investors expected the US Federal Reserve to be slower to raise rates.
In terms of commodity prices, gold rose last week amid a weaker US dollar and was once again trading above the US$1,750/ounce mark. Silver also bounced last week and traded above the US$20 per ounce level base metals prices rose on hopes of more infrastructure stimulus in China.
Last week a series precious metalsbase metals and energy companies saw their stock prices rise. The top five TSX-listed mining stocks with the biggest gains are:
Here’s a look at these companies and the factors that moved their stock prices last week.
Aya Gold and Silver focuses on the acquisition, exploration and evaluation of minerals located in Morocco. Its flagship projects are the Zgunder silver mine and the Bumadin polymetallic deposit.
On July 19, the company reported a high silver sample drill results from the current program in Zgounder. Aya Gold and Silver shares rose 40.15 percent last week to C$7.33 by the end of the period.
Nevada Copper, whose flagship Pumpkin Hollow, also made the list of top performers on the TSX last week copper the project is located in the state of Nevada, USA. Pumpkin Duplo has significant reserves and resources, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility currently in production and a large-scale open pit project progressing to the status of the feasibility study.
The company didn’t release any news last week, but Nevada Copper’s share price jumped 40 percent to C$0.31 in a five-day period.
Toronto-based NextSource Materials is in the final stages of developing its wholly-owned Molo graphite project in southern Madagascar. Molo is a fully permitted project in the feasibility study stage and the only project with SuperFlake graphite. The construction of the first phase of the Molo project is underway, commissioning is expected in the 3rd quarter of this year.
The company’s shares rose 32.82 percent to C$2.59 last week.
Uranus Forsys Metals also made the list last week. The company is focused on the development of uranium projects on the African continent. The explorer currently owns the Norasa project, which includes the fully permitted uranium project in Valencia, and is also developing the Namibplaas uranium project, both in Namibia.
There was no news from Forsys Metals last week, but the company’s stock price rose 26.98 percent to C$0.80 by the end of the trading session.
5. Talon Metals
Last but not least is Talon Metals, which is focused on responsible manufacturing nickel for the electric vehicle industry. High-quality Tamarack nickel-coppercobalt the project is located in the state of Minnesota, USA, and consists of the Tamarack North and Tamarack South projects.
Talon Metals shares jumped 26.67 percent to C$0.57 last week.
Data for the top 5 weekly TSX performers is extracted every Friday at 10:30am EST using TradingView’s stock screener. Only companies with a market capitalization of more than C$50 million in weekly earnings are included. Companies in the field of non-energy and energy minerals are considered.
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Securities Disclosure: I, Priscilla Barrera, have no direct investment in any company mentioned in this article.
Editorial Disclosure: NextSource Materials is a client of Investing News Network. This article is not paid content.
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