Base Metals


Last week’s top-gaining stocks on the TSX were International Tower Hill Mines, Northern Dynasty Minerals, INV Metals, Capstone Mining and Marimaca Copper.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was slightly down last Friday (May 29), declining 112.35 points to reach 15,150.38.

The index opened down on the back of lower oil prices and uncertainty over China-US tensions.

In commodities, gold was trading above US$1,730 per ounce last Friday, on track for a weekly gain, while silver was very close to testing the US$18 per ounce level. In base metals, copper was also headed for a weekly gain, trading at around US$5,200 per tonne.

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

  • International Tower Hill Mines (TSX:ITH)
  • Northern Dynasty Minerals (TSX:NDM)
  • INV Metals (TSX:INV)
  • Capstone Mining (TSX:CS)
  • Marimaca Copper (TSX:MARI)

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

1. International Tower Hill Mines

International Tower Hill Mines has a 100 percent interest in the Livengood gold project, located along the paved Elliott Highway, north of Fairbanks, Alaska.

Last Thursday (May 28), the company announced the results of its general shareholders meeting. International Tower Hill’s share price increased 73.91 percent over the five day period to close at C$1.60.

2. Northern Dynasty Minerals

Northern Dynasty Minerals is focused on developing the Pebble project in Alaska, where, according to the company, the world’s largest undeveloped copper-gold-molybdenum-silver resource is located.

Last Friday, the company published a letter issued by the US Environmental Protection Agency confirming that the environmental impact statement process for the proposed Pebble mine is proceeding well. It is being led by the US Army Corps of Engineers.

As a result of the news, the company’s share price jumped 48.03 percent to end the week at C$1.88.

3. INV Metals

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

The company did not release any news last week, but INV Metals saw its share price increase 39.53 percent to C$0.60.

4. Capstone Mining

Capstone Mining is a base metals-focused company with two producing copper mines: Pinto Valley in the US and Cozamin in Mexico. In addition, Capstone has the large-scale, 70 percent owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources; it also holds a portfolio of exploration properties.

The company did not release any news last week, but it went up by 21.43 percent to reach C$0.68.

5. Marimaca Copper

Formerly Coro Mining, Marimaca Copper announced its name change last Wednesday (May 27). The company name now aligns with its flagship development asset in Chile, the Marimaca project, which is one of the largest copper discoveries in Northern Chile.

Last week, shares of the company increased 20 percent to end at C$1.50.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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


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