The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last Friday (August 28) at 16,705.79, up about 70 points from Monday’s (August 24) open.
On Friday, the index was up in early trading as the materials sector made gains.
The increase was supported by a higher gold price. Both gold and silver rebounded last week on the back of a weaker US dollar and as the US Federal Reserve signaled a prolonged low interest rate strategy.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Horizonte Minerals (TSX:HZM)
- China Gold International (TSX:CGG)
- Fission Uranium (TSX:FCU)
- NexGen Energy (TSX:NXE)
- Troilus Gold (TSX:TLG)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Horizonte Minerals
Nickel developer Horizonte Minerals holds interests in the Araguaia nickel project, as well as the Vermelho nickel-cobalt project in Brazil.
The company’s latest news came on August 14, when Horizonte said it is well funded to advance Araguaia towards being construction ready after securing a US$325 million syndicated loan. Construction is expected to begin early next year and the first stage of the project will cost a total of US$440 million.
The company’s share price jumped 58.82 percent to end the week at C$0.13.
2. China Gold International
China Gold International operates two mines: the CSH gold mine in Mongolia, and the Jiama copper-gold polymetallic mine in Tibet.
In its Q2 results, the company reported that its total gold production increased by 14 percent year-on-year to reach 63,043 ounces. Meanwhile, its total copper production increased by 31 percent to 46.5 million pounds, up from 35.6 million pounds in the same period in 2019.
The company did not release any news last week, but jumped 17.14 percent to end at C$1.64.
3. Fission Uranium
Fission Uranium is a resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property in Canada’s Athabasca Basin.
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The company did not release any news last week, but news from top uranium miner Kazatomprom could have helped Fission’s share price. Kazatomprom said on Thursday (August 27) that it has started buying uranium on the spot market, and may purchase more this year to replenish its stock after the coronavirus pandemic upended the global market.
Last week, shares of the company increased 16.25 percent to end at C$0.46.
4. NexGen Energy
Another uranium developer focused on the prolific Athabasca Basin is NexGen Energy. The company holds a portfolio of projects and discoveries, including the Arrow deposit, the Bow discovery, the Harpoon discovery and Arrow South.
Nexgen Energy saw its share price increase 13.39 percent last week to C$2.54.
5. Troilus Gold
Quebec-focused Troilus Gold is an advanced-stage exploration and early development company focused on the mineral expansion and potential mine restart of the former gold-copper Troilus mine.
The company didn’t have any news last week, but its share price rose 13.08 percent to reach C$1.47.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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