Last week’s top-gaining stocks on the TSX were NextSource Materials, Denison Mines, Gran Tierra, Northern Dynasty and Pipestone Energy.
The index opened lower on the last day of the week, dragged down by poor performance from Canadian cannabis stocks and dismal domestic wholesale trade data.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- NextSource Materials (TSX:NEXT)
- Denison Mines (TSX:DML)
- Gran Tierra Energy (TSX:GTE)
- Northern Dynasty Minerals (TSX:NDM)
- Pipestone Energy (TSX:PIPE)
Here’s a look at those companies and the factors that moved their share prices last week.
1. NextSource Materials
Toronto-based NextSource Materials is a mine development company in the final stage of developing 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.
Last Monday (February 8), the company secured a strategic investment led by former Xstrata CEO Mick Davis; it will fully fund the construction of Molo. Following the news, NextSource Materials’ share price jumped 168.97 percent to end the week at C$0.39.
2. Denison Mines
Denison Mines is a uranium explorer with multiple ongoing projects located in the Athabasca Basin of Saskatchewan. The company’s flagship project is Wheeler River.
Last Thursday (February 11), Denison Mines announced a US$25 million bought deal offering to fund evaluation and environmental assessment activities at Wheeler River. Last week, the company’s share price increased 55.56 percent to reach C$1.54.
3. Gran Tierra Energy
The company did not release any news last week, but shares of Gran Tierra increased 51.19 percent during the period to end at C$1.27.
4. Northern Dynasty Minerals
Last Thursday, the company submitted an appeal of a federal permitting decision, challenging a key finding of “significant degradation.” Northern Dynasty increased 40.74 percent last week to end the five day period at C$1.14.
5. 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 Wednesday (February 10), the company provided an update on its production and operations. It saw its share price go up by 35.24 percent last week to reach C$1.42.
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.