The top gainers on the TSX last week were Platinum Group Metals, Obsidian Energy, Capstone Mining, Copper Mountain and GoGold Resources.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed last Friday (January 17) up by 71.16 points, reaching 17,555.93. The increase brought it well above its close at the same time the week prior at 17,243.49.
News last week was all about the trade war, but in a pleasant twist, it was about the phase one trade agreement between the US and China to wind back hostilities. Of course, US President Donald Trump stayed in character, calling the agreement signed with China “one of the greatest trade deals ever made!”
Looking at resources and energy companies on the TSX, here are the top five weekly gainers from last week:
- Platinum Group Metals (TSX:PTM)
- Obsidian Energy (TSX:OBE)
- Capstone Mining (TSX:CS)
- Copper Mountain Mining (TSX:CMMC)
- GoGold Resources (TSX:GGD)
Read on to find out more about what each company has been up to lately.
Platinum Group Metals
Platinum Group Metals is focused, unsurprisingly, on the production of platinum and palladium. Its projects are located in the prolific South African Bushveld Complex — where the majority of the world’s platinum production takes place.
On January 14, the company reported its financial results for the three months ended November 30, 2019, and provided an update on recent events at the company that detailed works at the palladium-dominant Waterberg project within the Bushveld complex.
On the TSX last week, the company was trading up by 48.71 percent, reaching C$3.45 by the end of the week.
On January 16, the company released an operational and hedging update, reporting that all 13 wells from the second half of 2019 were successfully brought online prior to the end of December.
The company was trading at C$1.21 by the end of last week after gaining 27.48 percent on the TSX.
Capstone Mining is a Canadian base metals-producing company with two copper mines — Pinto Valley and Cozamin, located in the US and Mexico, respectively — along with the Santo Domingo development project in Chile.
On January 16, the company reported that it had additional high-grade copper and silver results from 21 infill and 6 step out drill holes at Cozamin as part of its planned 200-drill hole program to double the current resource base there. According to the release, results included 6.3 meters at 5.3 percent copper.
In Toronto, Capstone was up by 15.58 percent with the news to reach C$0.89.
Copper Mountain Mining
British Columbia-based Copper Mountain Mining sits on its flagship project, the Copper Mountain mine.
The company’s most recent news came on January 13, when it reported its 2019 production along with its three-year guidances. The company said 2020 production was expected to increase up to 33 percent to fall between 86 and 96 million pounds of copper. By comparison, 2019’s output was 72 million pounds of copper.
The company was trading at C$0.84 by last Friday, up by 13.51 percent over the previous week.
Gold and silver producer GoGold Resources has properties and interests in Mexico, including the Parral tailings project, which has 21.3 million metric tons of tailings left over from 230 years of mining.
On January 14, the company reported on its quarterly production, which it said was a new record at 584,988 silver equivalent ounces made up of 379,082 ounces of silver and 2,407 ounces of gold.
GoGold was trading at C$0.73 last Friday after gaining 10.61 percent over the previous five days of trading.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.