5 Top Weekly TSX Stocks: Copper Hits US$8,000, Stocks Surge

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending down early last Friday (January 8) at 17,992.68, but ended the day up at 18,034.82.

After breaking 18,000 during the previous session, a record closing high, the index pulled back momentarily as it was weighed down by the materials sector.

In commodities, gold and silver retreated on Friday, while copper surged above US$8,100 per tonne — its highest level in eight years.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• St. Augustine Gold and Copper (TSX:SAU)
• Lithium Americas (TSX:LAC)
• Obsidian Energy (TSX:OBE)
• Candente Copper (TSX:DNT)
• Nevada Copper (TSX:NCU)

Here’s a look at those companies and the factors that moved their share prices last week.

1. St. Augustine Gold and Copper

St. Augustine Gold and Copper is focused on the development of the King-king copper-gold project. The asset is one of the largest undeveloped copper-gold deposits in the world, and is listed as a top three priority mining project by the Philippine government.

Despite not releasing any news last week, shares of St. Augustine Gold and Copper increased 47.83 percent to end at C$0.17.

2. Lithium Americas

Lithium Americas owns 100 percent of the Thacker Pass lithium claystone project in Nevada, US. With an initial Phase 1 capital cost of US$581 million, it will have an annual production capacity of 60,000 tonnes.

In addition to Thacker Pass, Lithium Americas, together with Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,HKEX:SZSE:002460), is developing the Caucharí-Olaroz project, located in Jujuy, Argentina. Production from the project was expected in early 2021, with output capacity estimated at 40,000 tonnes per year, but plans are being revised as the coronavirus impact continues to be assessed.

Last week, shares of Lithium Americas increased 47.75 percent to end at C$23.61.

3. Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.

Last Tuesday (January 5), the company released its drilling program and guidance for 2021, saying it has budgeted $40 million for a development and decommissioning program for the first half of 2021. Last week, shares of the company increased 47.13 percent to end the five day period at C$1.28.

4. Candente Copper

Candente Copper is currently focused on its 100 percent owned Cañariaco project, which includes the feasibility-stage Cañariaco Norte deposit, as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the Western Cordillera of the Peruvian Andes in Northern Peru.

Despite not releasing any news last week, Candente Copper increased 45.16 percent to end at C$0.22.

5. Nevada Copper

Nevada Copper’s flagship Pumpkin Hollow copper project is located in Nevada, US. Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open-pit project, which is advancing towards feasibility status.

Last Wednesday (January 6), the company announced further ramp-up progress and closed a credit facility increase. Nevada Copper saw its share price go up by 44.83 percent last week to reach C$0.21.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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