5 Top Weekly TSX Stocks: Turquoise Hill Continues Rise

- December 15th, 2019

Top gainers on the TSX last week were Turquoise Hill Resources, Gold Standard Ventures, Athabasca Oil, Osisko Mining and Imperial Metals.

On Friday (December 13) of last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was up by 77.38 points to reach 17,024.28 points. At the same time the week prior, it was at 17,004.51 points.

Global news was a picture of stability — potentially — with the US and China reportedly signing a deal to walk back some of the trade war actions, while in the UK, the incumbent Prime Minister Boris Johnson secured himself a healthy majority to finally take the UK out of the EU in coming months.

Despite that, the safe haven metal gold went up last week to reach US$1,475.90 an ounce on Friday, while silver was up as well.

Here, the Investing News Network (INN) takes a look at the top gainers on the TSX that are resources focused.

  • Turquoise Hill Resources (TSX:TRQ)
  • Gold Standard Ventures (TSX:GSV)
  • Athabasca Oil (TSX:ATH)
  • Osisko Mining (TSX:OSK)
  • Imperial Metals (TSX:III)

Read on to find out about what each company has been doing lately.

Turquoise Hill Resources

Turquoise Hill Resources is a subsidiary of Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and the operator of the Oyu Tolgoi copper project in Mongolia, which is being developed with the goal of becoming one of the biggest copper mines in the world. The project has run into plenty of snags along the way when it comes to the jurisdictional powers of the government in the city of Ulaanbaatar, however.

There’s been a slate of good news though, with the most recent on December 11, when the company acknowledged the Mongolian Parliament’s resolution on Oyu Tolgoi which Turquoise Hill said reflects Mongolia’s commitment to work together on the project.

Turquoise Hill was up by 21.52 percent last week to Friday December 13, reaching C$0.96. The previous week, when it also featured on this list, it was at C$0.78.

Gold Standard Ventures

Gold Standard Ventures is unsurprisingly, a gold company, specifically an advanced-stage exploration company with a focus on its district-scale projects in Nevada, where it has its flagship Railroad gold project on Nevada’s Carlin trend. It also owns the Lewis project, on the Battle Mountain trend.

Gold Standard’s most recent release was in mid-November when it announced it had discovered high-grade oxide gold mineralization at the LT target at its Railroad project.

In Toronto, Gold Standard Ventures was trading at C$0.98 by last Friday — a gain of 19.51 percent over the previous week.

Athabasca Oil

As its name suggests Athabasca Oil is an Alberta-focused oil company, where it produces light oil and thermal oil from its Montney at Greater Placid and Leismer projects.

Latest news was back on November 5, when the company reported its third quarter results for 2019 detailing the production of 35,257 barrels of oil equivalent per day. The company said it was continuing to protect its asset base and interests in the face of prolonged headwinds for the oil and gas industry in Alberta.

Despite those headwinds, Athabasca Oil was trading up by 18.18 percent through last week to reach C$0.455 by Friday, representing a turnaround in fortunes for the company which has been trending downwards through 2019. It hit a yearly low of C$0.355 just in late November.

Osisko Mining

Osisko Mining is focused on precious metals development throughout Canada, where it has five projects in Quebec and Ontario.

Recent news from the company came last week on December 11, when it announced that bulk samples from its Windfall Lake project had returned 17.8 grams per tonne (g/t) of gold.

In Toronto, Osisko was trading up by 17.22 percent at C$3.54 by last Friday.

Imperial Metals

Imperial Metals is the 100-percent owner of the Mount Polley copper mine, which has been on care and maintenance as of earlier this year due to a copper price decline. The other project owned by Imperial, Red Chris, had a 70-percent share sold to Newcrest Mining (ASX:NCM,OTC Pink:NCMGF) in August 2019. The two companies now operate it as a joint venture.

Recent news from Imperial Metals was a report on rock drilling at its Ruddock Creek project in British Columbia which returned 40.9 m of 16.83 percent zinc, 3.46 percent lead and 4.74 g/t of silver. That was back in late November, however.

On the TSX last week, Imperial Metals was trading at C$1.75, after gaining 15.13 percent over the previous five days of trading.

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

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

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

Get the latest Copper Investing stock information

Leave a Reply