It was followed by HudBay Minerals, Nevada Copper, First Quantum Minerals and Atalaya Mining.
Last Friday, the S&P/TSX Composite index (INDEXTSI:OSPTX) rose 0.68 percent, or 88.85 points, to end at 13,212.5 points. According to Reuters, the index has now “erased a loss for the year that almost reached 10 per cent.”
The top-gaining TSX-listed resource stock last week was Aureus Mining (TSX:AUE,LSE:AUE), and it was followed by HudBay Minerals (TSX:HBM,NYSE:HBM), Nevada Copper (TSX:NCU), First Quantum Minerals (TSX:FM,LSE:FQM) and Atalaya Mining (TSX:AYM,LSE:ATYM). Here’s a look at what moved the share prices of those companies during the period.
As mentioned, Aureus Mining was last week’s biggest TSX-listed resource stock, rising 156.25 percent to hit $0.21. The company has assets in both Liberia and Cameroon, with its principal focus being the Liberia-based New Liberty gold mine.
Last week, the company declared commercial production at New Liberty, commenting that in February the mine produced over 9,000 ounces of gold. Aureus also said last week that it’s received credit approval from its lender group to defer its first debt repayment until April 4, 2016.
HudBay Minerals is an integrated mining company that produces copper concentrate and zinc metal at operations across the Americas. Last week, its share price rose 45.65 percent to reach $5.52. It didn’t release any news during the period, but did present at BMO Capital Markets Global Metals and Mining Conference.
Nevada Copper’s share price increased by 45.28 percent last week to close at $0.77. The company is focused on bringing its Nevada-based Pumpkin Hollow copper project into production. It released no news last week that would explain the jump in its share price; most recently, it said in February that it’s entered into an agreement to conduct a solar energy-related study with NV Energy.
First Quantum Minerals
Major miner First Quantum Minerals has operations across the world that produce copper, nickel, gold, zinc and PGMs. Last week, its share price rose 44.86 percent to hit $7.04, though it did not release any news that would account for that uptick. It last put out news in February, when it released its results for Q4 2015.
Finally, Atalaya Mining’s share price rose 35.8 percent last week to end at $2.20. Formerly known as EMED Mining Public, Atalaya recently restarted the Riotinto copper mine, declaring commercial production in February. The mine last operated in 2001, and was put on care and maintenance due to low copper prices.
The company didn’t release any further news last week that would explain the increase in its share price.
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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nevada Copper is a client of the Investing News Network. This article is not paid-for content.
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