The S&P/TSX Composite index (INDEXTSI:OSPTX) was up 1.01 percent last week to 14,482.42 points. The index is now up 11.32 percent year-to-date.
Last week was the index’s third straight week in a row of 1-percent gains.
Meanwhile, with gold prices still up significantly since Brexit, a number of mining stocks continued to gain on that rising tide.
Companies up for the week included:
- Trevali Mining (TSX:TV)
- Golden Star Resources (TSX:GSC)
- Timmins Gold (TSX:TMM)
- Banro Corporation (TSX:BAA)
- Northern Dynasty Minerals (TSX:NDM)
Here’s a look at those companies:
Trevali Mining tops the list, whose shares increased 25.40 percent last week to $0.79. The company is zinc-focused with two commercially producing operations, but is also actively producing zinc and lead–silver concentrates from its Santander mine in Peru. Recently, Trevali achieved commercial production at its Caribou mine, despite a surge of zinc mine closures over the last few years.
Golden Star Resources
Shares of Golden Star were up 25 percent to $1.25 per share last week. The company holds a number of producing mines and development projects in Ghana. Both of the company’s mines, Wassa and Prestea, are expanding to develop underground mines below existing pit operations in 2016. Golden Star announced on July 12 that pre-commercial production at the Wassa mine had begun as scheduled. The release states that the first stope is in the upper part of the F Shoot, which is one of the more moderate grade areas of the deposit. Higher grade areas within the B Shoot are scheduled to be accessed in early 2017.
Timmins Gold owns and operates the San Fransisco open pit gold mine in Sonora and is currently developing two projects: the Ana Paula gold project and the Bianco gold project. On July 13, the company released its production results for the second quarter of 2016. For the quarter, Timmins achieved production of 25,863 ounces of gold.
Shares of Timmins gained 20.69 percent last week to hit $0.70. There was no recent news from the company to explain this rise in share price.
Banro Corporation rose 20 percent for the week to finish at $0.60 per share. The company is focused on acquiring and developing silver-dominant projects, and currently holds a 90 percent interest in the Fuwan silver deposit in Guangdong, China. Minco reported its annual general meeting results on June 28. There has been no further news from the company to explain last week’s share price rise.
Northern Dynasty Minerals
Rounding out last week’s top five was Northern Dynasty Minerals, whose shares were up 16.07 percent to $0.65. The company completed a private placement for proceeds of $2 million on July 5.
Northern Dynasty is focused on advancing the Pebble project, a massive copper-gold-molybdenum-silver deposit in Alaska. The company has been embroiled in a dispute with the US Environmental Protection Agency (EPA), which is attempting to block development of the pebble project. The company last commented on the issue in January of this year, in a release that condemned the EPA Inspector General’s “serious bias” at the agency. Last month, EPA chief Gina McCarthy was questioned over missing emails pertaining to this issue.
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Data for 5 Top TSX Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Trevali Mining is a client of the Investing News Network. This article is not paid for content.