While the Canadian dollar was on the downward trend, the TSX index was on the way to a 16-month high last week.
The S&P/TSX Composite index (INDEXTSI:OSPTX) was on the rise last week, increasing 0.61 percent to 14,939.04 points.
BNN reported on Friday that while the Canadian dollar was on the downward trend, the TSX index was on the way to a 16-month high. The publication noted the index hasn’t moved above 14,900 points since June 2015.
With that in mind, most sectors saw strong weekly gains.
Companies that were on the upward swing for the five-day period included:
- Euromax Resources (TSX:EOX)
- Treasury Metals (TSX:TML)
- Alamos Gold (TSX:AGI)
- Alexco Resource (TSX:AXR)
- Sherritt International (TSX:S)
Here’s a look at those companies:
Euromax Resources is currently focussing its attention on building and operating the Ilovica-Shutka copper–gold project in Macedonia. In September, the company announced a land acquisition and resettlement framework for further development of the project, which can be read in full here.
Last week, shares of Euromax Resources climbed 25 percent to close the five-day period at $0.65 each.
The second top-gaining stock on last week’s TSX was Treasury Metals, whose shares rose 23.33 percent to $0.74.
According to its website, Treasury Metals’ 10 percent owned Goliath Gold project is on its way to becoming one of Canada’s next producing gold mines. In September, the company announced the addition of a second drill at the project, which it claims will assist in shortening the schedule for infill drilling of deeper sections of the underground ‘inferred’ resource area.
Right in the middle of last week’s top 5 gaining stocks on the TSX is Alamos Gold, who announced on Friday its investment in Corex Gold (TSXV:CGE). Alamos Gold is slated to purcahse 25.3 million common shares of Corex Gold, totaling approximately 19.07 percent of the outstanding common shares of Corex.
Alamos Gold is an intermediate gold producer with production in three mines across North America, including the Young-Davidson mine in Ontario, and the Mulatos and El Chanate mines in Mexico.
Last week, shares of Alamos Gold made an 18.37 percent increase to close the five-day period at $11.60.
Next is Alexco Resource, who owns the Keno Hill silver district in the Yukon. The Bellekeno silver mine, with a production grade of up to 1,000 grams per tonne, began production in 2011 and was Canada’s primary silver mine from 2011 to 2013.
In September, Alexco announced that results from the ongoing diamond drill program in the Bermingham deposit, with results extending the high-grade silver-bearing Bear zone.
Last week, shares of the company increased 17.56 percent to close the five-day period at $2.41
Last but not least on last week’s 5 top TSX stocks is Sherritt International, a nickel producer with operations in Canada, Cuba and Madagascar. On October 12, the company announced that the Moa joint venture mine and High Pressure Acid Leach operations in Cuba had resumed operations after Hurricane Matthew passed through eastern Cuba in early October.
Last week, shares of Sherritt International rose 17.5 percent to $0.94.
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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: Euromax Resources is a client of the Investing News Network. This article is not paid for content.
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