Last week, the S&P/TSX Composite index (INDEXTSI:OSPTX) gained 2.31 percent, or 313.85 points, to reach 13,873.98.
The Index finished the week fairly flat despite a rise in oil prices, but as per Bloomberg, it’s still “one of the best-performing developed markets in the world.” So far in 2016, the index has gained 6.64 percent, or 864.03 points.
Last week’s top TSX-listed mining stocks were:
- SouthGobi Resources (TSX:SGQ)
- Sabina Gold and Silver (TSX:SBB)
- Minco Silver (TSX:MSV)
- Capstone Mining (TSX:CS)
- Belo Sun Mining (TSX:BSX)
Here’s a look at what moved the share prices of those companies last week.
Shares of SouthGobi Resources gained 60.71 percent last week to reach $0.45 per share. The company operates the flagship Ovoot Tolgoi coal mine in Mongolia, and holds other metallurgical and thermal coal assets in the country. On March 29, the company released its fourth quarter and full-year results for 2015, reporting sales of 0.2 million tonnes of its coal products for the fourth quarter of 2015 compared to 0.4 million tonnes a year earlier. However, there has been no additional recent news to explain last week’s share price increase for SouthGobi.
Sabina Gold and Silver
Headed by Bruce McLeod, Sabina Gold and Silver is currently focused on developing its Back River gold project in Nunavut. The company released its 2015 financial and operating results on March 24 and appointed Anna Stylianides to its board of directors on March 31. However, there was no recent news behind last week’s share price rise for the company. Shares of Sabina Gold and Silver were up 55.34 percent last week to $1.60.
Shares of Minco Silver gained 52.38 percent last week to reach $1.28. The company is focused on developing the Fuwan silver project near Guangzhou city in China. Minco also acquired a 51 percent interest in the Changekeng gold project in July 2015, which is located immediately adjacent to the Fuwan silver project.
Most recently, Minco released its 2015 year-end financial statements on December 31, 2015. There has been no further news from the company that would have explained its rise in share price last week.
Canadian copper producer Capstone Mining gained 37.5 percent last week to reach $0.77 per share. The company operates mines in the United States, Canada and Mexico, and also owns two development projects in Chile and Canada. Capstone released its first quarter production results on April 5, reporting combined production of 24,600 tonnes of copper with byproducts of zinc, molybdenum, lead, silver and gold. There has been no further recent news from the company to explain last week’s share price rise.
Belo Sun Mining
Finally, Belo Sun Mining rounded out the 5 top TSXV stocks last week with a rise of 34.33 percent to $0.9 per share. The Canadian mineral exploration and development company is focused on its Volta Grande gold project in Brazil, for which it released a feasibility study in March 2015. Belo Sun closed a C$5.8 million private placement on March 21, 2016. There was no news last week from the company that would have explained its rise in share price.
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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, Teresa Matich, hold no direct investment interest in any company mentioned in this article.