Base Metals

Iron Investing

The top-gaining stocks on the TSX last week were Anglo Pacific, Imperial Metals, Wesdome Gold Mines, SolGold and Amerigo Resources.

At the end of last week, Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) fell by 81.29 points, or 0.48 percent. That fall put it at 16,709.11 on Friday (September 27).

News from around the world was very political last week, with the US descending into impeachment mania, while in Asia, China has freshly accused Australia of being the “pioneer” of anti-China sentiment globally.

On the commodities front, a steady US dollar meant that gold had a little dip last week, while base metals are waiting for something to happen on the US-China trade war front.

Moving on to mid-tier operators, here are the top performing stocks on the TSX from last week hailing from basic materials and energy sectors:

  • Anglo Pacific Group (TSX:APY)
  • Imperial Metals (TSX:III)
  • Wesdome Gold Mines (TSX:WDO)
  • SolGold (TSX:SOLG)
  • Amerigo Resources (TSX:ARG)

Read on to find out more about what they have been up to lately.

Anglo Pacific

Anglo Pacific is a mineral royalties company that receives royalties from a diverse range of producing mines across five continents — drawing royalties from coal, vanadium, gold, silver, copper and uranium.

In its most recent release, the company was talking up its royalties in iron, announcing that it was increasing its total investment in the Labrador Iron Ore Royalty to 5.88 percent after plowing another US$7.1 million into the company.

While that news was back on September 16, Anglo Pacific was up last week by 22.81 percent, trading at C$3.81 as of September 27.

Imperial Metals

Canadian copper miner Imperial Metals has been a little down in the dumps recently, with its share price tracking downwards since March 2019 when it announced it would be selling a 70 percent share of its Red Chris copper mine in British Columbia. 

While the company hasn’t released any news in September this year, its last release in August was an announcement that it had repaid all its debts thanks to the Red Chris sale.

Despite tracking downwards since March, Imperial Metals was the second-best performing miner on the TSX last week, gaining 8.54 percent to finish the week at C$2.16.

Wesdome Gold Mines

Wesdome bills itself as Canada’s next mid-tier gold mining company, with assets in Ontario and Quebec.

The company got some positive news coverage last week, having been including in the Toronto Stock Exchange’s TSX30, a flagship program recognizing the 30 top-performing TSX stocks over a three year period based on dividend-adjusted share price appreciation.

With the news, Wesdome was trading at C$6.34 last Friday, up by 5.49 percent on the week prior.


SolGold is best known as the owner and operator of the Cascabel copper-gold mine in Ecuador, which the Ecuadorian government says has the potential to be one of the world’s largest copper, silver and gold mines.

Recent news from SolGold has been about its Sharug project however, which is also located in Ecuador. According to a release on September 19, the constitutional court there dismissed a petition to ban mining activities in the province the Sharug is located.

SolGold was trading at C$0.42 last Friday, an increase of 5 percent over the previous five days of trading.

Amerigo Resources

Yet another base metals-focused company, Amerigo Resources has its sights set on copper, with a 100 percent interest in the MVC project, where it processes tailings from Codelco’s El Teniente copper mine in Chile.

On the news front, Amerigo Resources’ last release was its Q2 results on August 8, and news has been sparse since then.

Despite the lack of fresh news, Amerigo made this list with a 4.05 percent gain on the TSX last week, to reach C$0.77.

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.


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