Base Metals

5 Top Weekly TSX Stocks: Horizonte Secures US$325 Million to Advance Araguaia

Base Metals

Last week’s top-gaining stocks on the TSX were Crew Energy, Nuvista Energy, Advantage, Horizonte Minerals and Painted Pony. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending downward early last Friday (August 14) at 16,521.39 and ultimately closed the week at 16,514.61. 

Lower oil prices pushed energy stocks down as uncertainty over the coronavirus pandemic increased.

In commodities, gold pulled back from its all-time high of more than US$2,000 per ounce, while silver was on track for its ninth week of gains.

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

  • Crew Energy (TSX:CR)
  • Nuvista Energy (TSX:NVA)
  • Advantage Oil and Gas (TSX:AAV)
  • Horizonte Minerals (TSX:HZM)
  • Painted Pony Energy (TSX:PONY)

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

1. Crew Energy

Crew Energy’s activities are primarily focused on the Montney resource in Northeast British Columbia, where it has a large, contiguous land base of approximately 277,000 net acres (433 net sections).

The oil and natural gas producer released its Q2 results on August 6, reporting an increase in production on the back of price improvement in June. Last week, the company’s share price jumped 32.81 percent to end the period at C$0.425.

2. Nuvista Energy

NuVista Energy is an oil and natural gas company currently engaged in the exploration, development and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin.

In its Q2 results, released on August 4, the company reported that it produced at a restricted average rate of 50,922 barrels of oil equivalent per day (boe/d), similar to the comparative period in 2019 and the first quarter of 2020. Last week, Nuvista’s share price was up by 18.06 percent to reach C$0.85.

3. Advantage Oil and Gas

Advantage Oil and Gas is focused entirely on the development of its position in the Montney natural gas and liquids resource play.

On August 6, the company reported that its production in Q2 reached 45,271 boe/d, up 5 percent from the same quarter in 2019. Shares of the company jumped 17.98 percent to end last week at C$2.10.

4. Horizonte Minerals

Nickel developer Horizonte Minerals holds interests in the Araguaia nickel project, as well as the Vermelho nickel-cobalt project in Brazil.

Releasing its H1 financial report last Friday (August 14), the company said it is funded to advance Araguaia towards being construction ready after it secured a US$325 million syndicated loan. Construction is expected to begin early next year and the first stage of the project will cost a total of US$440 million.

Last week, Horizonte Minerals saw its share price increase 15.38 percent to C$0.08.

5. Painted Pony Energy

Calgary-headquartered Painted Pony Energy is a natural gas producer operating in the Montney formation in Northeast British Columbia. Painted Pony’s Montney gas is sweet gas with high heat content and no associated water production.

Last Monday (August 10), the company entered into an agreement to be acquired by Canadian Natural Resources (TSX:CNQ,NYSE:CNQ). Painted Pony’s share price rose 15.25 percent to reach C$0.68.

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.

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