5 Top Weekly TSX Stocks: Lundin Mining Surges on Feasibility Study Results

Last week's other top-gaining TSX stocks were Treasury Metals, Serabi Gold, Red Eagle Mining and Royal Nickel.

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The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended slightly lower last week, closing at 15,458.46 points, a loss of 0.54 percent.

That said, the index rallied on Friday (May 19) ahead of the Victoria Day long weekend. The rise was led by energy-focused companies, whose share prices were buoyed by rising oil prices. The market was also affected last week by US political turbulence; however, Friday was calm as US President Donald Trump left for his first foreign trip.

“You’ve had no Washington drama today and decent earnings,” said David Joy, chief market strategist at Ameriprise Financial in Boston. “It’s the cyclical parts of the market that are moving today and the defensives are lagging. With Washington not in the headlines, we can focus on the economy, and the economy is in good shape in our view.”

On the back of those developments, a number of TSX-listed stocks in the mining sector saw share price increases. The top gainers were:

  • Treasury Metals (TSX:TML)
  • Serabi Gold (TSX:SBI)
  • Red Eagle Mining (TSX:R)
  • Lundin Mining (TSX:LUN)
  • Royal Nickel (TSX:RNX)

Without further ado, here’s a look at the five top weekly TSX stocks and what moved their share prices last week.

Treasury Metals

Treasury Metals is a gold-focused exploration and development company with assets in Ontario. It owns the Goliath gold project where it is now going through permitting. On May 15, the company completed an $8.06-million financing. Over the five-day period, its share price spiked 22.95 percent to close at $0.75.

Serabi Gold

Serabi Gold is a gold exploration and production company involved in the evaluation and development of gold deposits in Brazil. The company’s primary assets are its Palito and Sao Chico gold mines in the Tapajos region of Northern Brazil. On May 15, the company released its financial results for the first quarter of 2017. It produced 9,861 ounces of gold during the period, on budget and in line with guidance. The news sent its share up 13.33 percent to reach $0.08.

Red Eagle Mining

Middle of the pack on last week’s five top weekly TSX stocks list is Red Eagle Mining, whose share price increased by 12.61 percent to close the five-day period at $0.67. The company is a gold producer focused on discovering, developing and operating projects in Colombia. Red Eagle Mining owns the Santa Rosa gold mine, where it commenced commercial production in March. On May 16, the company reported its Q1 2017 results.

Lundin Mining

Lundin Mining operates in Chile, the US, Portugal and Sweden. The company primarily produces copper, nickel and zinc, with cobalt as a by-product. On May 11, Lundin announced the results of a feasibility study completed for a zinc expansion project at its Neves-Corvo mine in Portugal. The company’s share price saw an increase of 10.43 percent last week to reach $7.73.

Royal Nickel

Last but not least on the five top weekly TSX stocks list is Royal Nickel, whose share price rose 9.52 percent to end last week at $0.23. The company‘s principal assets are the Beta Hunt gold-nickel mine in Western Australia, the Dumont nickel project in Quebec’s Abitibi region and a 30-percent stake in the Reed mine in Manitoba. On May 16, it reported its Q1 2017 results, noting that it mined 1,133 tonnes per day, up 56 percent compared to the previous year. 

Data for 5 Top Weekly 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.

Don’t forget to follow us @INN_Resource for real-time news updates.

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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  • Been watching your news for lithium news. Do you have plans to publish anything on this topic for interested investors? Thanks John Green


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