5 Top Weekly TSX Stocks: Imperial Roars Back with Newcrest Deal

- March 17th, 2019

The top gainers on the TSX last week were Imperial Metals, Akita Drilling, Continental Gold, Monarch Gold and Energy Fuels.

Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was up by 0.33 percent last Friday (March 15), rising by 52.8 points to 16,140.35.

In commodities, gold, copper and oil were all up over the week, while the global spotlight stays on Venezuela, Trump’s first veto and Brexit.

According to the experts, the gold price is being held up by poor US employment stats, and whatever is happening in the UK, where parliament has requested an extension from the EU to when Brexit must formally occur.

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In Toronto, here are the top gainers for last week in the energy and minerals sectors.

Read on to see what each has been up to lately.

Imperial Metals

Well-known Canadian miner Imperial Metals struck itself a sweet deal last week, announcing it was entering into a joint venture with Newcrest Mining (ASX:NCM,OTC Pink:NCMGF) at its Red Chris copper mine in northern British Columbia.

Imperial will sell a 70-percent share of the mine to the Australian company for US$806.5 million in cash, while keeping the remaining 30 percent. Newcrest will be the new operator.

Imperials’ other mine, the infamous Mount Polley mine in southern British Columbia has been on care and maintenance since early January with the company blaming lower copper prices.

On the TSX last week, Imperials share price rocketed by 60.1 percent, reading C$3.17 by Friday — the highest it’s been valued since early January in 2018.

Akita Drilling

An oil and gas drilling company, Akita operates in Canada and the United States as an ancillary mining company, providing drill rigs to exploration companies as well as custom rig construction.

On the news front, the company put out a refreshed company presentation in January this year, while in early March it declared its quarterly dividend for shareholders and released its year-end results.

In Toronto, Akita was up by 17.31 percent to C$3.93 by last Friday.

Continental Gold

Continental Gold is another Canadian miner that’s been rained on by outside money in the last week. On Friday, the company announced a fully subscribed US$175-million financing package backed by Newmont Mining (NYSE:NEM) and Triple Flag Mining Finance.

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Continental said that proceeds from the deal — which included a silver stream — would go towards construction, commissioning and start-up of the company’s Buriticá project located in Antioquia, Colombia.

On the TSX, Continental enjoyed a 15.79 percent bump, reaching C$2.86.

Monarch Gold

Quebec-focused gold company Monarch Gold owns the McKenzie Break project near Val-d’Or, which was the subject of the company’s most recent press release.

In the release, Monarch detailed what it called high-grade gold intersections in a drilling campaign being carried out there, with assays returning as high as 93.80 grams per tonne of gold over 0.5 metres.

The company was up by 13.64 percent last week, reaching C$0.25 on the Toronto Stock Exchange.

Energy Fuels

Energy Fuels describes itself as a leading US-based uranium and vanadium producer, holding the largest in-ground uranium resource portfolio of any producer or near-producer and is the largest producer of uranium in the US. Additionally, the company says it is the only primary vanadium producer in North America.

The company’s most recent release was a letter to shareholders from CEO Mark S. Chalmers, who said that the company punched above its weight, despite what he called a “difficult uranium market.” The letter came quick on the heels of its 2018 results.

On the TSX, Energy Fuels was up by 11.81 percent, trading at C$4.26 by Friday.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.

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

Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.

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