The index edged up in early trade on Friday (March 16), supported by an increase in the financial and energy sectors.
Despite those factors, a number of stocks in the mining sector saw significant share price increases last week. The five top gainers are as follows:
- Sierra Metals (TSX:SMT)
- Arizona Mining (TSX:AZ)
- Lundin Mining (TSX:LUN)
- Copper Mountain Mining (TSX:CMMC)
- Orocobre (TSX:ORL)
Here’s a look at those companies and the factors that moved their share prices last week.
Sierra Metals is a growing polymetallic mining company with copper production from its Yauricocha mine in Peru and its Bolivar mine in Mexico. On March 16, the company announced strike action at Yauricocha. Shares of Sierra Metals gained 13.95 percent last week to reach $3.43.
Arizona Mining is an exploration and development company focused on its 100-percent-owned zinc–lead-silver Hermosa project, located in Santa Cruz County, Arizona. Hermosa is home to the Taylor deposit.
On March 15, the company announced strong results for five drill holes from the current program at Taylor. Shares of Arizona Mining increased 9.9 percent to close the five-day period at $4.33.
For more on Arizona Mining, watch our PDAC 2018 interview with COO Don Taylor.
Lundin Mining operates in Chile, the US, Portugal and Sweden. The company primarily produces copper, nickel and zinc. It also holds an indirect 24-percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery in Finland.
Over the five-day period Lundin Mining saw a spike of 7.8 percent to close at $8.95.
Copper Mountain Mining
Copper Mountain Mining’s flagship asset is the Copper Mountain mine, located in Southern BC near the town of Princeton. The company also has a strategic alliance with Mitsubishi Materials (TSE:5711), which owns 25 percent of the mine.
Copper Mountain Mining’s share price jumped 4.9 percent to close the five-day period at $1.28.
Last but not least is Orocobre, whose share price saw an increase of 3.9 percent to close the five-day period at $6.07.
Orocobre is building a substantial Argentina-based industrial chemicals and minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of Northern Argentina.
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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.