5 Top TSX Stocks: Gold Stocks Rally
Marathon Gold Corp was the top gaining stock on the TSX last week, with Dalradian Resources, Pilot Gold, Teranga Gold and Ivanhoe Mines rounding out the top five.
The S&P/TSX Composite index (INDEXTSI:OSPTX) was up last week, rising 0.62 percent to hit 14,747.45 points.
However, the exchange dropped from record highs on Friday, “as tepid data dampened investor confidence in the economy’s expansion,” the Globe and Mail reported.
Still, a number of stocks, particularly gold in the precious metals sector, saw strong gains.
Companies that were up for the week included:
- Marathon Gold Corp (TSX:MOZ)
- Dalradian Resources (TSX:DNA)
- Pilot Gold (TSX:PLG)
- Teranga Gold (TSX:TGZ)
- Ivanhoe Mines (TSX:IVN)
Here’s a look at those companies:
Marathon Gold topped the TSX list last week, rising 34 percent over the 5 day period to close the week out at $0.67. Year-to-date, shares of the company have gradually risen 346.67 percent overall.
Marathon Gold is currently focused on its Valentine Lake property in the Newfoundland. On August 9, the company announced results from its latest drilling at the Marathon Deposit, Valentine Gold Camp.
Dalradian Resources is currently focused on advancing its high-grade Curraghinalt gold deposit in Northern Ireland. On August 10, the company reported its Q2 2016 results, wherein it noted the Curraghinalt Gold project continues to be on schedule towards completion of the Feasibility Study and Environmental and Social Impact Assessment of 2016.
Share of Dalardian rose 33.91 percent last week to $1.54, while its year-to-date increase is 94.94 percent.
Up next is Pilot Gold, whose shares rose 22.37 percent to $0.93 last week. Year-to-date, the company’s gains are more significant, with its share price rising 204.92 percent so far this year.
Pilot Gold currently has six projects and reported its Q2 financial and operating results on August 10, with results from its 100 percent owned Goldstrike project from the ongoing infill and step-out drill program.
Teranga Gold owns and operates the Sabodala Gold mine, which is the only gold mine and mill in Senegal, West Africa. Sabodala has been in operation since 2009, and as of December 31, 2015, Teranga’s total proven and probable open pit reserves were 2.6 million ounces of gold.
Last week, the company’s shares rose 18.18 percent overall to end the five-day period at $1.30. Year-to-date, Teranga has steadily risen 165.31 percent.
Closing out last week’s TSX list is Ivanhoe Mines, whose shares rose 17.82 percent to finish the week off at $1.72. Year-to-date, Ivanhoe’s shares have risen 181.97 percent.
The company currently has projects with a focus on copper, platinum, gold, nickel, and zinc.
Don’t forget to follow us @INN_Resource for real-time news updates.
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.
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