5 Top Weekly TSX Stocks: Nevada Copper Rides High

- November 24th, 2019

Top gainers on the TSX last week were Nevada Copper, SolGold, RNC Minerals, Serabi Gold and Kelt Exploration.

On the last day of last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was down by 43.21 points to 16,955.98. At the same time the previous week it was at 17,028.96.

Global news was trade war, impeachment, Hong Kong protests and more. In Canada, there’s a panic over the cascading economic impacts of a rail strike by national operator CN Rail.

On the commodities front, precious metal gold enjoyed the same old story of up on uncertainty thanks to the trade war, while the base metals were generally flat with a downward trend.

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Here are the top five gainers in the basic materials and energy sector on the TSX from last week:

  • Nevada Copper (TSX:NCU)
  • SolGold (TSX:SOLG)
  • Royal Nickel (TSX:RNX)
  • Serabi Gold (TSX:SBI)
  • Kelt Exploration (TSX:KEL)

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

Nevada Copper

Canadian-listed and Nevada-focused soon-to-be copper producer Nevada Copper owns the Pumpkin Hollow project near the town of Yerington in western Nevada, which it has been developing for some time now.

On November 15, the company announced a construction update, saying that the underground project was on track and Pumpkin Hollow would achieve first production in Q4 2019. The company also released its Q3 financials and management discussion and analysis at the same time.

The project getting closer to production is yielding results: on the Toronto Stock Exchange last week, the company was trading up by 30 percent, reaching C$0.26.


Australia-based, Toronto-listed company SolGold has its primary assets in Ecuador, where it’s developing the Cascabel copper-gold project.

The company and its host have been the focus of attention recently as Latin America undergoes social and political unrest from Ecuador to Chile. Riots in the streets of Ecuador in response to government austerity action made companies operating there nervous, but SolGold reported that none of its activities were affected. On November 20, the company reported that it had filed an amended technical report on SEDAR for its flagship project in Ecuador.

SolGold was trading at C$0.405 by the end of last week, after gaining 17.39 percent on the previous five days of trading.

RNC Minerals

Royal Nickel — better known as RNC Minerals — owns the Beta Hunt gold mine in Western Australia, located in the Kambalda mining district.

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On November 14, the company reported what it called continued strong production, with 7,769 ounces of gold coming from its Beta Hunt and Higginsville mines in October alone. RNC will soon be transitioning to a quarterly reporting approach.

RNC was trading up by 13.16 percent over last week, reaching C$0.43 by the end of the week.

Serabi Gold

Gold explorer and producer Serabi Gold has interests in Brazil, where it owns 100 percent of the Palito mining complex and the Coringa gold project.

On Coringa, the company filed a technical report for its preliminary economic assessment in late October, and more recently on November 11 released its financial results for Q3.

Serabi was trading at C$1.33 by last Friday — up by 11.76 percent over the previous week of trade.

Kelt Exploration

Kelt is an oil and gas explorer with a focus on assets in Alberta and British Columbia. According to its November presentation, so far in 2019 the company has drilled 31 wells and projects it will drill another 31 in 2020.

In news, Kelt released its financial and operating results for the three and nine months ended September 30 on November 8, detailing production of 31,150 barrels of oil equivalent in Q3.

Kelt enjoyed a 10.09 percent increase in its share price last week to reach C$3.82 on Friday.

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.

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

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