5 Top Weekly TSX Stocks: Western Copper and Gold Up After Rio’s Strategic Investment

- May 23rd, 2021

Last week’s top-gaining stocks on the TSX were Globex Mining, Gatos Silver, Victoria Gold, Western Copper and Gold and Wesdome Gold Mines.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (May 21), trading at 19,535.39 by midday and closing the period at 19,534.27.

The index was supported by energy stocks, which rose as oil prices were trading up.

On Friday, the gold price eased as the US dollar strengthened, but was on track for a weekly gain, with sister metal silver also pulling back to trade below US$28 per ounce.

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

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

1. Globex Mining Enterprises

Globex Mining Enterprises has a diversified North American portfolio of mid-stage exploration, development and royalty properties containing precious metals, base metals, specialty metals and minerals and industrial minerals and compounds.

Despite not releasing news last week, Globex saw its share price rise 36.19 percent to C$1.43.

2. Gatos Silver

Gatos Silver is a silver-dominant exploration, development and production company that discovered a new silver- and zinc-rich mineral district in Mexico’s Chihuahua state. To date, 14 zones of mineralization have been defined in the district and all are characterized by silver-zinc-lead epithermal mineralization.

Last week, Gatos Silver saw its share price increase 28.34 percent to C$18.93.

3. Victoria Gold

Victoria Gold is a Yukon-focused gold producer and exploration company. Its Eagle mine is located in the Canadian territory and has been in production since 2019; the company’s other projects include Dublin Gulch, also in the Yukon, and Santa Fe, located in Nevada, US.

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Despite not releasing any news last week, Victoria Gold’s share price jumped 23.89 percent to end the week at C$18.98.

4. Western Copper and Gold

Western Copper and Gold is focused on developing its Casino copper-gold project, located in the Yukon. The company recently acquired the Canadian Creek project, which is adjacent to both Casino and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Coffee project.

Last Monday (May 17), the company announced a C$25.6 million strategic investment by Rio Tinto Canada to advance Casino. Shares of the company increased 22.61 percent to end at C$2.44.

5. Wesdome Gold Mines

Wesdome Gold Mines has been operating gold-mining sites in Canada continuously for over 30 years. The company’s strategy is to build an intermediate gold producer, putting out more than 200,000 ounces from two mines in Ontario and Quebec.

Last Wednesday (May 19), the company released drill results from a new high-grade gold discovery in the footwall of the Kiena Deep A zone at the Kiena mine complex in Val d’Or, Quebec. Shares of Wesdome Gold Mines increased 20.49 percent to end last week at C$11.29.

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.

Editorial Disclosure: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.

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