Other big gainers on the TSX last week were Silvercorp Metals, Entree Gold and Kinross Gold.
Last week, the S&P/TSX Composite index (INDEXTSI:OSPTX) closed up 293.87 points, or 2.43 percent, at 12,381.24 points. Prior to that rally, the index had lost 5.4 percent in five days, hitting its lowest level in three weeks.
In the resource space, the top TSX-listed gainer was Timmins Gold (TSX:TMM,NYSEMKT:TGD), and it was followed by Alexco Resource (TSX:AXR,NYSEMKT:AXU), Silvercorp Metals (TSX:SVM), Entree Gold (TSX:ETG,NYSEMKT:EGI) and Kinross Gold (TSX:K,NYSE:KGC). Here’s a look at what moved the share prices of those companies last week.
Timmins Gold is an intermediate gold producer whose assets are all in Mexico. Last week, the company’s share price jumped 43.18 percent to end at $0.32, though it didn’t release any news during the period. Most recently, on February 5, Timmins put out its preliminary production results for Q4 2015, as well as the year as a whole. For the entire year, it produced 93,353 gold equivalent ounces, slightly beating its revised guidance.
Last week, Alexco Resource’s share price rose 42.19 percent to reach $0.91. Interestingly, the company has not released any news since December 2015, when it closed a $4-million flow-through private placement with Canaccord Genuity. According to Alexco’s website, its Bellekeno silver mine is currently in interim suspension of operations, though the company is exploring other silver prospects at its properties.
Silvercorp Metals is a Canadian silver company with multiple mines in China, and last week its share price saw a 39.19-percent increase to $1.03. Similar to Timmins, it didn’t release any news during that time period, but did put out its most recent quarterly financial and operating results on February 5. Its net income attributable to equity shareholders came to $3.3 million, or $0.02 per share.
Entree Gold has interests in high-quality copper porphyry projects located in both Nevada and Mongolia. Its key assets are the Nevada-based Ann Mason project, and a 20-percent joint venture interest in a portion of the Oyu Tolgoi project, which is managed by Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO). The company hasn’t released any news this year, but nevertheless enjoyed a share price rise of 36.36 percent last week to hit $0.38.
Finally, Kinross Gold saw its share price rise 29.91 percent last week to hit $4.17. The company, which has a diverse portfolio of mines and projects in the US, Brazil, Chile, Ghana, Mauritania and Russia, released its results for Q4 2015 and 2015 as a whole on February 10. For 2015, the company produced 2,594,652 gold equivalent ounces and incurred an adjusted net loss of $91 million, or $0.08 per share.
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: Entree Gold is a client of the Investing News Network. This article is not paid-for content.
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