The top gainers on the TSX last week were Bonavista Energy, Katanga Mining, Valeura Energy, Largo Resources and First Quantum Minerals.
Here are the top five gainers amongst the resources industry companies on the TSX last week:
- Bonavista Energy (TSX:BNP)
- Katanga Mining(TSX:KAT)
- Valeura Energy (TSX:VLE)
- Largo Resources (TSX:LGO)
- First Quantum Minerals (TSX:FM)
Read on to find out what each company has been up to lately.
Bonavista Energy is an intermediate oil and gas producer based in Alberta, where it has production spread through three regions.
The company’s most recent news was its Q2 results for 2019, which it released on August 1. The company commented that inadequate pipeline capacity and regulatory uncertainty was overshadowing the sector, but still reported adjusted funds flow of C$40.5 million which it said was ahead of plan.
In Toronto last week Bonavista was trading at C$0.77 — up by 32.76 percent on the previous week.
The most recent news from the company was on August 6, when it released its Q2 results and talked up its production rates. The company subsequently increased its guidances heading into 2020 and in 2021.
Katanga Mining was trading at C$0.53 last Friday, up 32.5 percent on the previous weeks trading.
Valeura Energy is focused on producing natural gas in the Thrace basin in European Turkey, where it has a number of land assets in a region prolific in natural gas production.
On September 5 the company announced positive production results at the second zone of its Inanli-1 appraisal well in the Thrace Basin.
Valeura was trading up by 28.46 percent on the previous week by last Friday, at C$3.34.
Largo Resources is a vanadium-focused company, with production of vanadium flake, high purity vanadium flake and high purity vanadium powder coming from its Maracás Menchen mine in Brazil.
In news, the company announced a rash of promotions last week, but on August 20 it announced notice to terminate an off-take agreement with Glencore at the Maracás Menchen mine.
In Toronto, Largo was trading at C$1.7 by last Friday, up 18.06 percent on the previous five days trading.
First Quantum Minerals
First Quantum in a copper producer perhaps best known for its freshly minted Cobre Panama copper project in the central American country that gives the project its name.
News from the company has been light since then, with its most recent releases on its website an interim dividend of C$0.005 per share for shareholders, which it announced on July 29, along with its Q2 results.
Despite the lack of more recent news, the company was trading up last week by 17.79 percent at C$10.66.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than C$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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.