Reuters reported that the index rose to a four-month high early on Friday (September 29) as financial shares climbed.
The gold price was on track for a quarterly gain, despite edging lower on Friday. Silver was set for a monthly loss of almost 5 percent, but was also on track to end the quarter up. Base metals gained as well, with copper reaching a two-week high on Friday.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases, particularly in the precious and base metals sectors. The five top gainers are as follows:
- Horizonte Minerals (TSX:HZM)
- Katanga Mining (TSX:KAT)
- Copper Mountain Mining (TSX:CMMC)
- Pretium Resources (TSX:PVG)
- Mega Uranium (TSX:MGA)
Here’s a look at those companies and the factors that moved their share prices last week.
Horizonte Minerals is a nickel development company focused on Brazil. It wholly owns the advanced Araguaia nickel laterite project, and is targeting production by 2019.
On Thursday (September 28), the company reported on its recent social investment activities, including literacy development and sexual health campaigns. Over the five-day period Horizonte saw a share price spike of 10 percent to close the week at $0.05.
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 did not release any news last week, but its share price rose 8.51 percent to reach $1.02.
Copper Mountain Mining
Middle of the pack last week was Copper Mountain Mining, whose share price increased by 6.84 percent to close the five-day period at $1.25.
Copper Mountain Mining’s flagship asset is the Copper Mountain mine, located in Southern BC near the town of Princeton. The company has a strategic alliance with Mitsubishi Materials (TSE:5711), which owns 25 percent of the mine. It did not put out any news last week.
Pretium Resources began commercial production at its BC-based Brucejack gold mine this past summer, and is looking to reach steady state production at the mine by the end of the year. It did not release any news last week, but its share price increased 3.11 percent to reach $11.76.
Last but not least is Mega Uranium, whose share price rose 2.86 percent to $0.18. The company is focused on the acquisition and exploration of uranium prospective properties in Australia. It currently operates the Ben Lomond, Georgetown and Kintyre properties in that country.
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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.