Last week’s other top-gaining mining stocks on the TSX were Tahoe Resources, Liberty Gold, Entree Resources and TMAC Resources.
Both financial and energy stocks ended down 0.3 percent, and all in all the index fell 17.96 points, or 0.1 percent, to close at 16,043.54. Across the border in the US stocks were buoyed by a positive jobs report.
Against that backdrop, a number of TSX-listed mining stocks experienced significant share price gains last week. The five top risers are as follows:
- Western Copper and Gold (TSX:WRN,NYSEAMERICAN:WRN)
- Tahoe Resources (TSX:THO,NYSE:TAHO)
- Liberty Gold (TSX:LGD)
- Entree Resources (TSX:ETG,NYSEAMERICAN:EGI)
- TMAC Resources (TSX:TMR)
Here’s what moved the share prices of those companies last week.
Western Copper and Gold
Western Copper and Gold is focused on developing its Yukon-based Casino copper-gold project. Casino contains 8.9 million ounces of gold, 4.5 billion pounds of copper, 483 million pounds of molybdenum and 65 million ounces of silver in proven and probable reserves
Last week, the company released voting results from its annual shareholders’ meeting. Its share price rose 11.5 percent to end the five-day period at $1.23.
Tahoe Resources operates the Escobal silver mine in Guatemala, the La Arena and Shahuindo gold mines in Peru and the Timmins West and Bell Creek gold mines in Canada. Its share price rose 10.71 percent last week to close at $6.79; Tahoe did not release any news during the period.
Liberty Gold is focused on its portfolio of projects in the Great Basin area of the Southwestern US. Its assets in the region include Goldstrike, Black Pine and Kinsley, and it also has two projects in Turkey.
The company has not released any news since mid-May, when it put out its Q1 financial and operating results. Nevertheless, last week its share price gained 10.26 percent to close at $0.42.
Entree Resources holds what it calls a “unique carried joint venture interest” on a portion of the Mongolia-based Oyu Tolgoi copper-gold project. Like the other companies on this list, Entree did not release any news last week, although its share price did enjoy an increase. It rose 9.28 percent to reach $0.53 by the end of the period.
TMAC Resources’ Doris mine began commercial production in the second quarter of 2017, and its Madrid and Boston properties are expected to commence production in 2020 and 2022, respectively.
Last week, the company’s share price jumped 8.35 percent to end at $6.13. It did not release any news during that time.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.