Despite those factors, a number of stocks in the mining sector saw share price increases last week. The five top gainers are as follows:
- Tahoe Resources (TSX:THO)
- LeadFX (TSX:LFX)
- RNC Minerals (TSX:RNX)
- General Moly (TSX:GMO)
- Marathon Gold (TSX:MOZ)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Tahoe Resources
Tahoe Resources is focused on the exploration, development, operation and acquisition of mineral properties for the mining of precious metals in the Americas.
The company has no recent news that would explain its share price increase, but over the five-day period it saw a spike of 24.4 percent to close at $6.27.
LeadFX is focused on the development of lead–silver projects located in Australia and North America. The company’s flagship asset is the Paroo Station lead mine, located 30 kilometers west of the town of Wiluna in Western Australia. The company also owns an 83.5-percent interest in the Burin mines and surrounding land claims in the Tintic Mining District 60 miles southeast of Salt Lake City, Utah.
Last Thursday (March 1), the company announced the results of a definitive feasibility study for Paroo Station. Over the five-day period, shares of LeadFX gained 21.62 percent to reach $1.80.
3. RNC Minerals
RNC Minerals is a multi-asset precious and base metals mining company. The company’s principal assets are the producing Beta Hunt gold-nickel mine in Western Australia, the Dumont nickel–cobalt project in the established Abitibi Mining Camp in Quebec and a 30-percent stake in the producing Reed mine in the Flin Flon-Snow Lake region of Manitoba.
The company announced value enhancement initiatives for its Dumont mine last Thursday. Over the five-day period, RNC Minerals saw a spike of 14 percent to close at $0.28.
4. General Moly
General Moly is engaged in the exploration, development and mining of molybdenum assets. General Moly owns an 80-percent interest in the Mount Hope project and 100 percent of the Liberty project, both of which are located in Nevada.
Last Friday (March 2), the company announced a progress update on its projects. Over the five-day period, General Moly saw a spike of 8 percent to close at $0.54.
5. Marathon Gold
Last but not least is Marathon Gold, a company currently advancing its Valentine Lake Gold Camp in Newfoundland, which hosts four near-surface, mainly pit-shell constrained gold resources. Shares of Marathon Gold saw an increase of 7.69 percent last week to reach $0.98.
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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.