5 Top Weekly TSX Stocks: Base Metals Stocks Lead the Way

- June 10th, 2018

Last week, energy and base metals miners took the top spots on the TSX. Copper Mountain Mining, Imperial Metals, Katanga Mining, Denison Mines and Cameco were in the lead.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower on Friday (June 8), weighed down by losses in the financial and energy sectors. Canada’s main exchange was down 26.15 points, or 0.16 percent, at 16,166.63 at open.

Financial stocks were down 0.2 percent, while shares of Royal Bank of Canada (TSX:RY) and Toronto-Dominion Bank (TSX:TD) were both down nearly 0.3 percent.

The hit taken by the energy and financial sectors was likely the result of fear that a trade war between Canada and US may ensue following newly levied tariffs, the breakdown of NAFTA negotiations and the G7 summit, which was held in Quebec on Friday.

Last week’s top-performing TSX stocks include two uranium miners, two base metals companies and a firm that specializes in both base and precious metals. Copper miners performed particularly well as the price of the red metal soared to highs not seen since 2014.

The five TSX-listed mining stocks that saw the biggest share price gains are as follows:

  • Copper Mountain Mining (TSX:CMMC)
  • Imperial Metals (TSX:III)
  • Katanga Mining (TSX:KAT)
  • Denison Mines (TSX:DML)
  • Cameco (TSX:CCO)

Here’s a look at those companies and the factors that moved their share prices last week.

Copper Mountain Mining

Copper Mountain Mining is copper-focused mining company whose flagship asset is its Copper Mountain project in BC; it also holds the Cloncurry and Eva copper projects in Australia. The company’s share price saw the greatest growth last week, rising 20.54 percent and closing at C$1.35.

The firm did not release any news last week, but did say its annual meeting will be held on June 20.

Imperial Metals

Imperial Metals is focused on base and precious metal discoveries, and it has several projects throughout BC. Over the five-day period, the company’s share price increased 15.68 percent, closing at C$2.14. It did not release any news during that time.

Katanga Mining

Katanga Mining is a copper and cobalt exploration and mining company that currently has a large-scale integrated metallurgical operation in the Democratic Republic of Congo. Katanga’s share price saw a double-digit rise last week of 14.89 percent, ending the week at C$1.08.

The company did not release any news last week; its favorable performance could be related to the strong momentum copper prices made last week.

Denison Mines

Denison Mines is an uranium exploration and development company with interests focused in the Athabasca Basin region of Northern Saskatchewan. The company’s share price climbed 12.9 percent last week, closing at C$0.70.

Last Wednesday (June 6), the company released winter assay results from the Wheeler River project, and announced plans for a summer drill program.

Cameco

Cameco is one of the world’s largest uranium producers, accounting for roughly 16 percent of global production from its tier-one operations in Canada and Kazakhstan. Cameco’s share price jumped 10.55 percent, ending the trading week at C$15.19. The company did not release any news last week.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.

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

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