5 Top TSX Stocks: Big Gains for Gold Stocks

The top gainer was Corvus Gold, and it was followed by Thompson Creek Metals Company, Kinross Gold, Yamana Gold and NioCorp Developments.

Last week, the the S&P TSX Composite index (INDEXTSI:OSPTX) closed Friday down 10.51 points, or 0.08 percent, at 12,763.99 points.
According to Reuters, the decline came as a selloff in US tech stocks bled over into the Canadian tech sector. However, the index was buoyed somewhat by gold stocks, which in turn appear to have been boosted by the rising gold price — the yellow metal closed Friday at $1,183 per ounce, up 4.9 percent for the week.
With those factors in mind, it’s unsurprising that the top-gaining resource stocks on the TSX last week were predominantly gold miners. The top riser was Corvus Gold (TSX:KOR), and it was followed by Thompson Creek Metals Company (TSX:TCM), Kinross Gold (TSX:K,NYSE:KGC), Yamana Gold (TSX:YRI,NYSE:AUY,LSE:YAU) and NioCorp Developments (TSX:NB).

Corvus Gold

As mentioned, last week’s biggest gainer on the TSX was Corvus Gold. The junior exploration and development company, which is focused on its Nevada-based North Bullfrog discovery, saw its share price rise 79.75 percent to reach $0.71.


On February 2, Corvus released exploration results from North Bullfrog. The results are from three target areas at the project, and show “broad zones of low-grade gold-silver mineralization with some internal zones of +1 g/t gold.”

Thompson Creek Metals Company

Thompson Creek Metals Company has transitioned in recent years from being a primary moly producer to being a copper and gold producer. All of the company’s operations are located in North America, and at the moment its key focus is the British Columbia-based Mount Milligan copper-gold mine and concentrator.
Last week, Thompson Creek’s share price rose 59.09 percent to reach $0.35. On February 4, the company announced it will release its 2015 financial results after market close on February 24; a conference call/webcast will be held the following day at 11:00 a.m. EST.

Kinross Gold

Kinross Gold is a major gold miner with operations in the US, Brazil, Chile, Ghana, Mauritania and Russia. Last week, its share price rose 38.96 percent to hit $3.21. The company didn’t release any news last week — its last release came in mid-January when it closed its acquisition of strategic Nevada assets formerly owned by Barrick Gold (TSX:ABX,NYSE:ABX).

Yamana Gold

Like Kinross, Yamana Gold is a major gold producer with operations around the world. It too released no news last week, but nevertheless saw its share price rise 32.37 percent to reach $3.19. The company last put out news midway through January, when it provided its preliminary 2015 operational results and outlook for 2016 to 2018.

NioCorp Developments

Finally, NioCorp Developments’ share price rose 32.26 percent last week to end at $0.82. The company is developing the Nebraska-based Elk Creek project, which it bills as North America’s only niobium-scandium-titanium project, and last week put out two press releases.


In the first, the company announced various staffing appointments, and in the second it announced a town hall meeting aimed at updating Southeast Nebraska residents on Elk Creek. The meeting will be held on March 16.

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.
Related reading:
5 Top TSX Stocks: Timmins Gold Leaps Over 30 Percent
5 Top TSX Stocks: Cobalt Miners Lead the Way
5 Top TSX Stocks: RTG Mining Rises 20 Percent
5 Top TSX Stocks: Golden Queen Gains on Start of Commissioning
5 Top TSX Stocks: First Quantum Minerals Up Nearly 50 Percent
Featured
Teck Resources Limited today provided an update to sales and production guidance, related to logistics disruptions caused by heavy rain, flooding and mudslides in British Columbia, Canada. B.C. Logistics Disruptions Rail service between west coast terminals and Teck’s B.C. operations remains impacted by recent heavy rains and flooding, with both CN and CP operating at reduced levels following service ...

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today provided an update to sales and production guidance, related to logistics disruptions caused by heavy rain, flooding and mudslides in British Columbia, Canada.

B.C. Logistics Disruptions
Rail service between west coast terminals and Teck's B.C. operations remains impacted by recent heavy rains and flooding, with both CN and CP operating at reduced levels following service interruptions.

read more Show less
Ivanhoe Mines reports that the new COVID-19 variant, Omicron, has had no impact on any of its mining or mine development operations in South Africa or the Democratic Republic of Congo .No cases of the new variant have been detected at the company's Kamoa-Kakula and Kipushi projects in the DRC and, while there have been some recent infections among employees and contractors working at the company's Platreef Project ...

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reports that the new COVID-19 variant, Omicron, has had no impact on any of its mining or mine development operations in South Africa or the Democratic Republic of Congo (DRC).

No cases of the new variant have been detected at the company's Kamoa-Kakula and Kipushi projects in the DRC and, while there have been some recent infections among employees and contractors working at the company's Platreef Project in South Africa, all people infected to date have either been asymptomatic or experienced very mild symptoms.

read more Show less
Northern Dynasty Minerals Ltd. comments on the November 17, 2021 press release by the U.S. Environmental Protection Agency in which the EPA extended the deadline to either withdraw the 2014 Proposed Determination or to prepare a Recommended Determination regarding the Pebble Project in Southwest Alaska"While it is not yet known what action, if any, the EPA will finally take, we are cautiously optimistic about their ...

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") comments on the November 17, 2021 press release by the U.S. Environmental Protection Agency ("EPA") in which the EPA extended the deadline to either withdraw the 2014 Proposed Determination or to prepare a Recommended Determination regarding the Pebble Project in Southwest Alaska

"While it is not yet known what action, if any, the EPA will finally take, we are cautiously optimistic about their commitment to consider new information that has become available since the 2014 Proposed Determination and to make science-based decisions," said Ron Thiessen, President and CEO of Northern Dynasty. "We do not know which new information they may use in their decision, but we believe that the strong administrative record of the overwhelmingly positive Final Environmental Impact Statement of 2020 that was prepared by the U.S. Army Corps of Engineers should be an important part of it."

read more Show less

MARKETS

Markets
TSX20633.27-128.76
TSXV897.13-13.09
DOW34580.08-59.71
S&P 5004538.43-38.67
NASD15085.47-295.85
ASX7241.20+16.00

COMMODITIES

Commodities
Gold1779.51-3.42
Silver22.31-0.27
Copper4.270.00
Palladium1778.31-43.20
Platinum936.65-0.34
Oil67.70+1.44
Heating Oil2.12+0.03
Natural Gas3.83-0.30