The top gainers on the TSX last week were Akita Drilling, Serabi Gold, Noranda Income Fund, Lundin Mining and Mountain Province Diamonds.
News from around the world last week was focused on developing situations in and around the Middle East, where Turkey is in the process of invading Syria and US forces are being deployed to Saudi Arabia to bolster defenses against Iran.
Looking at Canadian companies, here are the top five gainers on the TSX from last week:
- Akita Drilling (TSX:AKT.B)
- Serabi Gold (TSX:SBI)
- Noranda Income Fund (TSX:NIF.UN)
- Lundin Mining (TSX:LUN)
- Mountain Province Diamonds (TSX:MPVD)
Read on to find out what each company has been keeping busy with lately.
An oil and gas drilling company, Akita Drilling operates in Canada and the US as an ancillary mining company, providing drill rigs to exploration companies as well as custom rig construction.
The company has had some unusual market activity recently, going as far as to announce in late September that it is not aware of any undisclosed changes that would cause the activity and decrease in its trading price.
The company was going back up last week, though, gaining 19.13 percent on the TSX to reach C$1.37.
Gold explorer and producer Serabi Gold has interests in Brazil, where it owns 100 percent of the Palito mining complex and the Coringa gold project.
On Coringa, the company’s preliminary economic assessment for the asset confirmed positive economics back in early September of this year. Slightly more recent news (but still a month ago) was on September 13, when the company released its presentation made at the Precious Metals Conference in Beaver Creek, Colorado.
Last week, Serabi Gold was trading at C$1.44 on the TSX — an increase of 13.39 percent.
Noranda Income Fund
Noranda Income Fund is the owner of the Salaberry-de-Valleyfield zinc smelter in Quebec, making it an ancillary resources company that may well find itself enjoying increased treatment charges as 2019 goes on. Its facility is the largest zinc smelter in North America.
Noranda has been quiet lately, with its last release on July 22 concerning the release of its Q2 results. It has shared more recent news in French on SEDAR, including interim financial statements and MD&A.
On the TSX last week, the company was trading at C$1.50, up 9.49 percent over the previous week.
Diversified base metals company Lundin Mining has five operational assets: Candelaria in Chile, Chapada in Brazil, Eagle in the US, Neves-Corvo in Portugal and Zinkgruvan in Sweden.
The company’s most recent release concerns the Chapada mine in Brazil, with the company filing a technical report supporting previous mineral reserve and mineral resource estimates.
Lundin Mining was trading at C$6.78 percent at the end of last week, up 9.45 percent.
Mountain Province Diamonds
Mountain Province Diamonds is unsurprisingly focused on diamonds, and has interests in the Gahcho Kué diamond mine in Canada’s Northwest Territories, which it holds in a joint venture with diamond giant De Beers.
The company was up by 8.47 percent at the end of last week, reaching C$1.28.
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.