Last week’s other top-gaining mining stocks on the TSX were Lithium Americas, Turquoise Hill Resources, Capstone Mining and North American Palladium.
Much of the growth was attributed to the 1.2 percent increase in the energy sector thanks to rising crude oil prices. Optimism that a US, China trade deal will be reached before the March 1 deadline also proved positive for the sector.
Canada’s largest exchange continued its ascension throughout the morning, by midday the TSX was up 54.23 points from the previous trading session, to 16,055.09.
The five TSX-listed mining stocks that saw the biggest gains are as follows:
- Coro Mining (TSX:COP)
- Lithium Americas (TSX:LAC)
- Turquoise Hill Resources (TSX:TRQ)
- Capstone Mining (TSX:CS)
- North American Palladium (TSX:PDL)
Here’s a look at those companies and the factors that moved their share prices last week.
Canadian base metals explorer Coro Mining, specializes copper project development. Coro is currently focused on advancing its Marimaca project in Chile. According to the company, “Marimaca has the potential to be one of the most interesting copper-oxide discoveries in recent years.”
On Tuesday (February 19), Coro announced the sale of its Berta mining operation and concessions in Chile to a private Chilean company for US$8.5 million.
Coro shares were up 25 percent last week, trading at C$0.075.
Lithium Americas is a lithium exploration company presently developing the Cauchari-Olaroz brine deposit in Argentina. The company also has an ongoing project in Nevada.
Lithium Americas made no company announcements last week. Company stock increased 21.01 percent, to C$5.01.
Turquoise Hill Resources
Canadian-listed base metals explorer Turquoise Hill Resources is engaged in the development and advancement of its Oyu Tolgoi mine in Mongolia. The company plans to develop the Asian site, “into one of the world’s largest copper mines.”
Turquoise Hill made no company announcements during the period. Shares climbed 20.89 percent last week, trading at C$2.72.
Capstone is a North American base metals company, with two producing copper mines, the Pinto Valley mine in the US and Cozamin mine in located Mexico. In addition to its two mines, Capstone also has an ongoing JV projects in Chile and a mine on care and maintenance in Canada.
While Capstone published no news last week, the previous week the company released its 2018 highlights which included 155.2 million pounds of cooper.
Shares of Capstone grew 19.30 percent, to C$0.68.
North American Palladium
North American Palladium is a Canadian palladium miner with more than two decades of production at its Lac des lles mine located in Ontario. The company is only pure play palladium producer in the mining sector.
In Mid-February North American Palladium released its fourth quarter and year end highlights for 2018. “Revenue for the year increased to C$396.8 million compared to C$272.4 million in 2017.”
Company stock was up 18.46 percent last week, to C$18.35.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.