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5 Top Weekly TSX Stocks: Western Copper and Gold Jumps on Yukon Funding
Last week’s other top-gaining stocks on the TSX were NGEx Resources, Canadian Zinc, Copper Mountain Mining and Largo Resources.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week at 14,985.32 points after sinking 39.21 points.
Concerns over Hurricane Irma caused the index to lose ground early on Friday (September 1), Reuters reported. That said, the gold price ended the week up, touching a more than one-year high that day. Silver also surged, trading above the $18-per-ounce mark. Base metals were up as well, with copper hitting a three-year high on Tuesday (August 31).
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:
- NGEx Resources (TSX:NGQ)
- Canadian Zinc (TSX:CZN)
- Copper Mountain Mining (TSX:CMMC)
- Western Copper and Gold (TSX:WRN)
- Largo Resources (TSX:LGO)
Here’s a look at those companies and the factors that moved their share prices last week.
NGEx Resources is focused on advancing its Constellation project, which includes two large copper-gold deposits, Los Helados and Josemaria. Constellation is located in Chile’s Region III and is adjacent to San Juan Province, Argentina.
The company has not released any news recently, but over the five-day period its share price spiked 27.08 percent to close at $1.22.
Canadian Zinc is an exploration-stage company that is focusing on the development of the Prairie Creek property, a zinc–lead-silver mineral resource in Canada’s Northwest Territories. The company is also engaged in the exploration of base metals properties in Newfoundland and Labrador.
Last week the company’s share price increased 11.11 percent to reach $0.20. It did not release any news that would explain the increase.
Copper Mountain Mining
Copper Mountain Mining’s flagship asset is the Copper Mountain mine, located in BC near the town of Princeton. The company has a strategic alliance with Mitsubishi Materials (TSE:5711), which owns 25 percent of the mine.
The company has not released any news recently, but its share price jumped 11.11 percent to close last week at $1.30.
Western Copper and Gold
Western Copper and Gold is developing the Casino copper-gold project in the Yukon. According to a feasibility study, the mine could produce an estimated 8.9 million ounces of gold and 4.5 billion pounds of copper over a 22-year life.
On September 5, Canada’s federal and territorial governments announced a $360-million investment to improve road access in the area where Casino is located. Western Copper and Gold’s share price jumped 10.64 percent to close the five-day period at $1.56.
Last but not least is Largo Resources, a strategic minerals company focused on the production of vanadium pentoxide at its Brazil-based Vanadio de Maracas Menchen mine. Largo also has interests in a portfolio of other projects.
On September 5, the company announced that in August it reached a production record of 888 tonnes of vanadium pentoxide. Largo Resources’ share price gained 8.7 percent last week to reach $1.
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Data for 5 Top TSX 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 $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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.