The exchange had its lowest close in six weeks due to oil prices putting pressure on energy and banking shares.
The S&P/TSX Composite index (INDEXTSI:OSPTX) was down again last week by 1.78 percent to 14,509.25 points.
Reuters Canada noted on Friday the drop was the exchange’s lowest close in six weeks as a result of declining energy and banking shares being pressured by oil prices.
Still, a number of companies in the mining industry saw weekly percentage gains, most notably in the gold and lithium sectors.
Companies that were on the upward swing for the five-day period included:
- Serabi Gold (TSX:SBI)
- Orocobre (TSX:ORL)
- Dalradian Resources (TSX:DNA)
- HudBay Minerals (TSX:HBM)
- Balmoral Resources (TSX:BAR)
Here’s a look at those companies:
The top gaining stock on last week’s TSX index is Serabi Gold, who is currently evaluating and developing gold deposits in Brazil. The company has a 100 percent interest in two mines in Brazil: the Palito and Sao Chico Gold mines, which are in the Tapajos region in northern Brazil.
Serabi Gold most recent announcement included its third quarter updates on the gold operations, having produced over 10,000 ounces for the third quarter in 2016.
Shares of the company saw an increase of 13.33 percent last week to close the five-day period at $0.085.
Next on the 5 top TSX list is Orocobre, who is building an Argentinian-based industrial chemicals and mining company through its diverse portfolio of lithium, potash and boron projects. On October 28, the company announced its quarterly activities together with its cashflow report.
Last week, Orocobre’s shares jumped 11.82 percent to $3.69.
Dalradian Resources comes in at number three on last week’s 5 top TSX stocks, rising 9.85 percent to close the week at $1.45.
Currently, the company is focused on advancing its high-grade Curraghinalt gold deposit located in Northern Ireland. Despite the share price increase, Dalradian Resources has not released any news since September, wherein the company announced proceeds of $24.5 million from share purchase warrants.
HudBay Minerals is a copper, zinc, gold, and silver producer. The company has three operating mines in Manitoba, one operating mine in Peru, together with a development project in Arizona. On November 2, HudBay released its third quarter 2016 results, noting it had record production of 49,937 tonnes of copper, 31,606 tonnes of zinc, 29,865 ounces of gold and 1,043,7981 ounces of silver.
Last week, shares of HudBay saw a boost of 8.04 percent to close the five-day period at $5.91.
Last but not least on last week’s 5 top TSX stocks is Balmoral Resources, whose shares increased 7.23 percent to $0.89.
Balmoral Resources is focused on the discovery, exploration and development of high grade gold and base-metal assets in Canada, and in particular Quebec and Ontario. On November 1, the company announced it had received results from 15 shallow drill holes from the second and final phase of its summer 2016 drill program on the Northshore property.
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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 Arizona Mining are clients of the Investing News Network. This article is not paid for content.
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