Last week’s other top-gaining stocks on the TSX were Corvus Gold, Trevali Mining, Arizona Mining and Excelsior Mining. Here’s what moved their share prices.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week up, closing up 0.44 percent at 15,704.02 points.
According to Reuters, the index fell on Friday (October 6) as energy stocks declined due to a sharp drop in oil prices.
The gold price was on track for a weekly loss after touching a two-month low on Friday, and silver was set to remain neutral. Meanwhile, base metals gained, with copper reaching its highest level since late August.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw significant share price increases. The five top gainers are as follows:
- Corvus Gold (TSX:KOR)
- Trevali Mining (TSX:TV)
- Arizona Mining (TSX:AZ)
- Copper Mountain Mining (TSX:CMMC)
- Excelsior Mining (TSX:MIN)
Here’s a look at those companies and the factors that moved their share prices last week.
Corvus Gold controls 100 percent of the North Bullfrog project, located in Southern Nevada. The project includes numerous prospective gold targets at various stages of exploration. The company has not released any news since the beginning of September, but last week its share price spiked 38.55 percent to close the five-day period at $1.15.
Trevali Mining is a zinc-focused base metals miner with two commercially producing operations. The company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine in Peru and its 3,000-tonne-per-day Caribou mine in New Brunswick’s Bathurst Mining Camp. Trevali also owns the Halfmile and Stratmat base metals deposits in New Brunswick.
The company’s share price rose 15.6 percent last week to end at $1.63, although it did not release any news. It’s possible that Trevali may be benefiting from the ongoing rise in zinc prices — the base metal hit a fresh 10-year high last Wednesday (October 4).
Middle of the pack on the list is Arizona Mining, whose share price increased 15.51 percent last week to close at $3.50. The company is focused on the exploration and development of its 100-percent-owned zinc-lead-silver Hermosa project in Arizona. It also did not release any news last week, and like Trevali could be benefiting from higher zinc prices.
Copper Mountain Mining
Copper Mountain Mining’s flagship asset is the Copper Mountain mine, located in Southern BC near the town of Princeton. The company has a strategic alliance with Mitsubishi Materials (TSE:5711), which owns 25 percent of the mine.
Last Monday (October 2), the company announced results from a summer drill program at Copper Mountain and said that it has started drilling at the New Ingerbelle site. The news sent Copper Mountain’s share price up 11.2 percent to close the five-day period at $1.39.
Last but not least is Excelsior Mining, whose share price increased 7.02 percent last week to finish $1.22. Excelsior is developing the Gunnison copper project, a low cost in-situ recovery copper project located within Arizona’s copper porphyry belt. The company did not put out any news last week.
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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.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Trevali Mining and Arizona Mining are clients of the Investing News Network. This article is not paid-for content.