5 Top TSX Stocks: Exchange Drops Second Week in a Row

- September 18th, 2016

The TSX was down again last week as a result of the financial and energy sectors slightly stepping back.

The S&P/TSX Composite index (INDEXTSI:OSPTX) was down last week by 0.38 percent to 14,450.80points
The Toronto Star reported on Friday that the exchange–as well as the loonie–slid as a result of financial and energy sectors taking a step back, particularly including the oil price dropping.
However, number of stocks still managed to make gains over the week, with a variety of lithium companies notably on the rise.
Companies that were up for the week included:

Here’s a look at those companies:


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Euromax Resources

Last week, Euromax Resources took the number one spot on the TSX Exchange. Over the five-day period, shares of Euromax increased 20.88 percent to $0.55.
The company is currently focused on building and developing its Ilovica-Shtuka copper and gold project in Macedonia. Euromax’s most recent company news was released September 7 when it announced a land acquisition and resettlement framework. 

Nemaska Lithium

Second on last week’s top 5 TSX stocks is Nemaska Lithium, a company who intends to become a lithium hydroxide supplier and lithium carbonate supplier in the lithium battery market.
On September 6, the company provided an update at its Whabouchi lithium project where the drilling program was expanded from 44 drill holes over 13,700 meters to 50 holes over 17,000 meters.
Last week, shares of Arizona Mining increased 19.49 percent to close the week at $1.41.

Teck Resources

Shares of Teck Resources rose 14.21 percent last week to close the five-day period at $24.11
The company describes itself as a “diversified resource company” with  focus on copper, zinc, steelmaking coal and energy. On August 30, Teck announced the acquisition of Securities of Jet Gold (TSXV:JAU). Jet Gold issued the securities in satisfaction of $889,117 of indebtedness owing to Teck a subsidiary.

Lithium Americas

Next is Lithium Americas who–through a joint venture with Sociedad Quimica y Minera de Chile–is developing the Cauchair-Olaroz brine deposit in Argentina. Through its wholly-owned subsidiary, Lithium Nevada, the company is developing one of the largest lithium deposits in northern Nevada.
Last week, shares of Lithium Americas increased 10.87 percent to $0.91.

Teranga Gold

Last but not least on the TSX top 5 is Teranga Gold, whose shares rose 9.08 percent to $1.32.
The company operates the Sabodala Gold mine, which is the only gold mine and mill in Senegal, West Africa. The mine has been in operation since 2009. To date, approximately 52 million ounces of gold resources have been discovered. 
On September 16, it was announced that the company was added to the S&P/TSX Global Mining, Global Gold and SmallCap Indices.
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Data for 5 Top TSX Stocks articles is retrieved each Friday after market close 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Euromax Resources and Nemaska Lithium are clients of the Investing News Network. This article is not paid for content.
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