The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week slightly down, closing at 15,586.13 points, a loss of 0.15 percent.
According to Reuters, stocks edged lower on Wall Street on Friday (April 28) after traders cashed in on recent gains. They did so on the back of data showing that the US economy grew at its weakest pace in three years.
“The GDP numbers today are questioning the robustness of the economy and throughout the week we’ve seen the impact of doubts whether the Trump administration can implement its fiscal policies,” said Mohannad Aama, managing director of Beam Capital Management in New York.
Despite those factors, a number of stocks in the mining sector saw share price increases. The top five gainers were:
- Nevada Copper (TSX:NCU)
- Largo Resources (TSX:LGO)
- Orocobre (TSX:ORL)
- Hudbay Minerals (TSX:HBM)
- Western Resources (TSX:WRX)
Without further ado, here’s a look a look at what moved the share prices of those companies last week.
Nevada Copper is focused on bringing its Nevada-based Pumpkin Hollow copper project into production. The most recent news from the company came on April 28, when it announced the results of its annual meeting.
Over the five-day period, Nevada Copper’s share price spiked 17.86 percent to close at $0.66.
Largo Resources is focused on the production of vanadium pentoxide at its Maracás Menchen mine. The company also has a portfolio of other projects, including the Currais Novos tungsten tailings project, the Campo Alegre de Lourdes iron-vanadium project and the Northern Dancer tungsten-molybdenum property.
On April 12, the company announced operational updates for its Maracas Menchen mine and said that it has entered into a term loan agreement. The company has not released any news since then, but last week its share price saw an increase of 13.46 percent to reach $0.59.
Middle of the pack last week was Orocobre, whose share price saw an increase of 8.77 percent to close the five-day period at $3.10.
Orocobre is building a substantial Argentina-based industrial chemicals and minerals company, and has a portfolio of lithium, potash and boron projects and facilities in the Puna region of the country. On April 27, the company announced that Phase 1 drilling will start at its flagship lithium property in the Cauchari Salar.
HudBay Minerals is an integrated mining company that produces copper concentrate and zinc metal at operations across the Americas. The most recent company from the company came on March 30, when it provided an update on its operations and growth projects.
Last week HudBay Minerals’ share price rose 2.9 percent to reach $8.15.
Last but not least is Western Resources, whose share price increased by 6.78 percent to close at $0.63.
Western Resources is a recently established company focused on the Milestone potash project in Saskatchewan. It started trading on the TSX on April 5.
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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.