5 Top Weekly TSX Performers: NextSource Materials Leads the Way

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (September 24), trading at 20,401.85 by midday. It closed the period at 20,400.44.

The index avoided a weekly loss, although healthcare and technology stocks were trending lower.

On Friday, gold and silver edged higher on the back of a soft US dollar and as investor fear over China’s Evergrande (HKEX:3333,OTC Pink:EGRNF) debt crisis increased.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• NextSource Materials (TSX:NEXT)
• Gear Energy (TSX:GXE)
• Entrée Resources (TSX:ETG)
• Pipestone Energy (TSX:PIPE)
• Crew Energy (TSX:CR)

Here’s a look at those companies and the factors that moved their share prices last week.

1. NextSource Materials

NextSource Materials is a mine development company in the final development stage at its 100 percent owned Molo graphite project in Southern Madagascar. The Molo project is a fully permitted, feasibility-stage project and is the only project with SuperFlake graphite. Construction of the Molo mine processing plant is 40 percent complete and on schedule and budget to commission mid-2022.

Shares of Toronto-based NextSource Materials increased 27.69 percent last week, and were trading at C$2.49 by the end of the period.

2. Gear Energy

Calgary-headquartered Gear Energy is an oil company focused on operations in three core areas: Lloydminster heavy oil, Central Alberta light-medium oil and Southeast Saskatchewan light oil.

Production at Gear has been trending at or above budgeted expectations for most of 2021, with August sales volumes of 5,866 barrels of oil equivalent per day, the company reported in its latest update. Last week, shares of the firm increased 22.06 percent to end at C$0.83.

3. Entrée Resources

Entrée Resources owns a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects: Oyu Tolgoi in Mongolia. Entrée has a 20 or 30 percent carried participating interest in the Entrée/Oyu Tolgoi joint venture, depending on the depth of mineralization.

Sandstorm Gold (TSX:SSL,NYSE:SAND), Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Turquoise Hill Resources (TSX:TRQ,NYSE:TRQ) are major shareholders of Entrée, holding approximately 23 percent, 9 percent and 8 percent of its shares, respectively. Over the five day period, shares of Entrée increased 19.05 percent to end the week at C$1 despite the lack of fresh news.

4. Pipestone Energy

Pipestone Energy is an oil and gas exploration and production company. The company has set its focus on developing its condensate-rich assets in the Pipestone area of Alberta.

Last week, Pipestone Energy saw its share price increase 18.22 percent to C$2.66.

5. Crew Energy

An oil and natural gas producer, Crew Energy’s activities are primarily focused in the Montney resource in Northeast BC, where it has a large, contiguous land base of about 277,000 net acres (433 net sections).

Despite not releasing news last week, shares of Crew Energy increased 17.73 percent, and were trading at C$2.59 by the end of the period.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: NextSource Materials is a client of the Investing News Network. This article is not paid-for content.