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5 Top Weekly TSX Stocks: Horizonte Minerals Jumps on Mine Construction Application
Last week’s other top-gaining stocks on the TSX were Katanga Mining, Lithium Americas, Nemaska Lithium and Champion Iron.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week up, closing at 15,863.03 points, a gain of 0.35 percent.
Reuters reported that the index rose on Friday (October 20), touching its strongest level in nearly eight months as financials led broad-based gains.
Despite that rise, the gold price was on track for a weekly loss on Friday after touching the $1,300-per-ounce mark the previous week; silver was also set for a weekly loss. Base metals gained, with copper reaching its highest level in three years on Monday (October 16), but pulling back by the end of the week.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases last week. The five top gainers are as follows:
- Katanga Mining (TSX:KAT)
- Lithium Americas (TSX:LAC)
- Horizonte Minerals (TSX:HZM)
- Nemaska Lithium (TSX:NMX)
- Champion Iron (TSX:CIA)
Here’s a look at those companies and the factors that moved their share prices last week.
Katanga Mining
Katanga Mining operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo through two joint ventures. The joint ventures are called Kamoto Copper Company and DRC Copper and Cobalt Project.
The company’s share price spiked 26.26 percent last week to close the five-day period at $1.19. Katanga has not released any news recently that would explain the increase.
Lithium Americas
Lithium Americas, together with SQM (NYSE:SQM), is developing the Cauchari-Olaroz lithium project in Argentina through its 50-percent interest in Minera Exar. The company also owns the Lithium Nevada project, and RheoMinerals, a supplier of rheology modifiers for oil-based drilling fluids, coatings and specialty chemicals.
Last week, Lithium Americas’ share price jumped 22.89 percent to end the week at $2.04. It did not put out any news during the period.
Horizonte Minerals
Middle of the pack is Horizonte Minerals, whose share price saw an increase of 16.17 percent to close at $0.07 last week.
Horizonte is a nickel development company focused on Brazil, and it wholly owns the advanced Araguaia nickel laterite project, where it is targeting production by 2019. On October 19, the company completed and filed a mine construction license application for Araguaia.
Nemaska Lithium
Nemaska Lithium is engaged in the exploration and development of hard-rock lithium properties and the processing of spodumene into lithium compounds. The company’s Whabouchi spodumene mine project in Quebec is estimated to be the second-richest and largest lithium deposit in the world.
The company released no news last week, but its share price gained 14.69 percent to reach $1.63.
Champion Iron
Last but not least is Champion Iron, whose share price increased 11.11 percent to end at $1.10 last week. It did not release any news during the period.
Champion is focused on moving forward at its significant iron ore resources at the south end of the Labrador Trough in Quebec. Its flagship asset is the Bloom Lake iron ore property.
Don’t forget to follow us at @INN_Resource for real-time news updates!
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: Nemaska Lithium is a client of the Investing News Network. This article is not paid-for content.
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