5 Top Weekly TSX Stocks: Katanga Boosted by Plan to Go Private

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was up slightly last Friday (April 24), edging up 169.27 points to finish the period at 14,420.36.

Oil crashed into negative territory earlier in the week, but prices had rebounded by the end of the five day period, with energy stocks pushing the index higher.

In other commodities, gold was trading above US$1,700 per ounce for most of the week, and silver was holding above US$15 per ounce after being under pressure for most of March.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• Katanga Mining (TSX:KAT)
• Painted Pony (TSX:PONY)
• Peyto Exploration (TSX:PEY)
• Mandalay Resources (TSX:MND)
• INV Metals (TSX:INV)

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

1. Katanga Mining

Katanga Mining operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo through two joint ventures — Kamoto Copper Company and DRC Copper and Cobalt Project.

Shares of Katanga jumped on Wednesday (April 22), when the company, which is majority owned by Glencore (LSE:GLEN), outlined plans to go private. On Thursday (April 23), the company released its results for Q1, saying its copper cathode production increased to 67,298 tonnes during the period from 65,402 tonnes in the previous quarter.

Last week, Katanga Mining’s share price increased 85.29 percent to close at C$0.16.

2. Painted Pony

Painted Pony is a natural gas producer operating in the Montney Formation in Northeast BC. Painted Pony’s Montney gas is sweet gas with high heat content and no associated water production.

The last news from the company came out on March 11, when Painted Pony released its fourth quarter and full-year 2019 financial and operating results. While oil and gas prices took a hit this week, the company’s share price jumped 50.88 percent to end the week at C$0.43.

3. Peyto Exploration

Peyto Exploration is an explorer and producer of unconventional natural gas in Alberta’s Deep Basin.

On April 15, the company approved a reduction of its capital program and dividend in response to the extreme impacts of the COVID-19 pandemic on near-term hydrocarbon demand and commodity prices.

Peyto Exploration saw its share price increase 43.92 percent last week to C$2.72.

4. Mandalay Resources

Mandalay Resources is focused on growing production at its gold and antimony Costerfield operation in Australia, along with gold production from its Björkdal operation in Sweden.

The company released its Q1 results on April 13, with consolidated production reaching 25,677 saleable gold equivalent ounces. Mandalay sold 24,276 gold equivalent ounces during the three month period.

Last week, Mandalay Resources saw its share price go up by 42.06 percent to reach C$1.52.

5. INV Metals

INV Metals is focused on the development and exploration of the Loma Larga gold property in Ecuador.

On Thursday, the company released preliminary drill results from an initial program at Tierras Coloradas, saying it intersected 10.9 grams per ton gold over 1.5 meters. Last week, shares of the company increased 37.74 percent to end at C$0.36.

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 energy minerals and non-energy minerals sectors are considered.

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