5 Top Weekly TSX Stocks: Scandium International Up After Consolidating Ownership of Australian Project

Last week's other top-gaining TSX stocks were Alexco Resource, Corvus Gold, Dalradian Resources and Largo Resources.

tsx stocks

The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended down last week, closing at 15,192.54 points, a loss of 1.68 percent.

That being said, the index rose on Friday (June 16), as energy stocks rebounded along with oil prices“The market took a breather yesterday and is trying to recover somewhat this morning. It is by no means bullish,” Tamas Varga, an analyst at brokerage PVM Oil Associates, told Reuters.

More broadly, commodities were hit last week by the US Federal Reserve’s decision to increase interest rates by a quarter point. Gold and silver prices dropped following the announcement, as some investors turned away from precious metalsEven so, a number of TSX-listed stocks in the mining sector saw share price increases last week, including:

  • Alexco Resource (TSX:AXR)
  • Corvus Gold (TSX:KOR)
  • Dalradian Resources (TSX:DNA,LSE:DALR)
  • Scandium International Mining (TSX:SCY)
  • Largo Resources (TSX:LGO)

Without further ado, here’s a look at last week’s five top weekly TSX stocks.

Alexco Resource

Alexco Resource owns the Bellekeno silver mine, which encompasses most of the historic Keno Hill Silver District in Canada’s Yukon Territory. The company’s most recent news came on May 31, when it closed a C$9-million flow-through equity financing.

Last week, Alexco’s share price spiked 14.79 percent to close the five-day period at $1.79.

Corvus Gold

Exploration and development company Corvus Gold is focused on its gold-silver North Bullfrog and Mother Lode projects in Nevada. The company also controls a number of royalties on North American gold, silver and copper exploration projects.

On June 13, the company announced an exploration and resource development program for its Mother Lode project. On the back of the news, Corvus’ share price increased 6.25 percent to reach $0.85.

Dalradian Resources

Middle of the pack on last week’s five top weekly TSX stocks list is Dalradian Resources, whose share price saw an increase of 6.13 percent to close the five-day period at $1.73.

Dalradian is a gold exploration and development company focused on advancing its high-grade Curraghinalt gold project in Northern Ireland. Most recently, on June 1, the company announced an agreement to acquire Minco’s (LSE:MIO) 2-percent net smelter royalty return on the Curraghinalt deposit.

Scandium International Mining

Scandium International Mining is focused on the Nyngan scandium project, located in New South Wales. On June 15, the company consolidated 100 percent ownership of EMC Metals Australia, which holds both Nyngan and the Honeybugle scandium project, also in New South Wales.

The news sent Scandium International’s share price up 5.8 percent to end last week at $0.36.

Largo Resources

Last but not least on the five top weekly TSX stocks list is Largo Resources, whose share price increased 5.38 percent to end last week at $0.49. Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide from its Maracas Menchen mine.

Largo also has a portfolio of other projects, including the Currais Novos tungsten tailings project and the Campo Alegre de Lourdes iron-vanadium project, both of which are in Brazil; it also holds the Northern Dancer tungsten-molybdenum property in the Yukon Territory. The company has released no news that would explain last week’s share price rise.

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

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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.


This article is updated weekly. Please scroll to the top for the most recent information.

5 Top Weekly TSX Stocks: Osisko Soars After Acquiring Precious Metals Portfolio

By Priscila Barrera, June 9, 2017.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended slightly up last week, closing at 15,473.21 points, a modest gain of 0.2 percent.

The index edged up on Friday (June 9) as employment and industrial data pointed to renewed health in the domestic economy, according to ReutersCanada’s job growth accelerated in May at its fastest pace in eight months — employers added 54,500 jobs, handily topping economists’ forecasts for a gain of 11,000.

“It is just another piece of information that suggests that the Bank of Canada could be tightening maybe a little bit earlier than markets are pricing,” said Andrew Kelvin, senior rates strategist at TD Securities.

Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases, including:

  • General Moly (TSX:GMO,NYSEMKT:GMO)
  • Osisko Gold Royalties (TSX:OR,NYSE:OR)
  • eCobalt Solutions (TSX:ECS)
  • Hudbay Minerals (TSX:HBM,NYSE:HBM)
  • Alamos Gold (TSX:AGI,NYSE:AGI)

Without further ado, here’s a look at the five top weekly TSX stocks.

General Moly

General Moly is engaged in the exploration, development and mining of molybdenum. The company owns an 80-percent interest in the Mount Hope project, as well as 100 percent of the Liberty project, both of which are located in Nevada. General Moly has not released any news recently, but last week its share price spiked 27.5 percent to close at $0.51.

Osisko Gold Royalties

Osisko Gold Royalties is an intermediate precious metals royalty company focused on the Americas. The company holds over 50 royalties and one stream, including a 5-percent NSR royalty on the Canadian Malartic mine, a 2- to 3.5-percent NSR royalty on the Eleonore mine and a stream on the Gibraltar mine.

On June 5, Osisko acquired a portfolio of assets from Orion Mine Finance Group for a total of C$1.125 billion. On the back of the news, the company’s share price increased 17.71 percent to reach $16.95.

eCobalt Solutions

Middle of the pack last week was eCobalt Solutions, whose share price rose 16.67 percent to close the five-day period at $1.19.

The company bills its Idaho cobalt project as “the only advanced stage, near term, environmentally permitted, primary cobalt deposit in the United States,” and says the cobalt at the project will ultimately be used to produce environmentally sound battery-grade cobalt salts. On May 31, the company provided a technical operations update on the project.

Hudbay Minerals

Hudbay Minerals is an integrated mining company that produces copper concentrate and zinc metal at operations across the Americas. On June 7, the company received the final record of decision for its Rosemont project. According to Patrick Merrin, vice president of the company’s Arizona business unit, Hudbay is now “another step closer to being able to build a modern mine that will fulfill the requirements of its permits, create jobs and strengthen the local economy.” 

The news sent Hudbay’s share price up 14.11 percent last week to end at $7.44.

Alamos Gold

Last but not least on least is Alamos Gold, whose share price rose a modest 4.53 percent last week to finish at $9.46.

Alamos is an intermediate gold producer with three operating mines in North America, including the Young-Davidson mine in Ontario, and the Mulatos and El Chanate mines in Mexico. The company has exploration and development projects in Mexico, Turkey, Canada and the US. The latest news from Alamos came on May 4, when it released its Q1 2017 report.

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

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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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