Last week’s other top-gaining mining stocks on the TSX were Dalradian Resources, Almonty Industries, Titan Mining and Treasury Mining.
Canada’s main stock index, the S&P/TSX Composite Index (INDEXTSI:OSPTX), opened on Friday (June 22) at 16,457.25, up well over 100 points compared to the day before, marking the second straight day of growth.
The uptick was spurred on by the energy sector as crude oil prices were up 1-percent and climbing following the OPEC announcement they will ramp up production. By mid-day the index was up 141.93 points, or 0.87 percent, at 16,477.38.
The TSX performed well over the entire week, hitting a record high on Wednesday (June 20), rising by 104.42 points or 0.64 percent. The surge was a result of soaring cannabis stocks which were bolstered by the federal announcement that the legalization of marijuana had been approved by the Senate.
Last week’s top-performing TSX stocks included two precious metals miners, a base metals company, as well as an energy and critical metals miners. Despite gold not performing well during the week the top percentage gainer was a gold miner.
The five TSX-listed mining stocks that saw the biggest share price gains are as follows:
- Dalradian Resources (TSX:DNA)
- Almonty Industries (TSX:AII)
- Titan Mining (TSX:TI)
- Lithium Americas (TSX:LAC)
- Treasury Mining (TSX:TML)
Here’s a look at those companies and the factors that moved their share prices last week.
Dalradian Resources is a mineral exploration and development company focused on advancing the Curraghinalt gold project located in Northern Ireland. The company stock saw double digit growth last week, gaining 61.11 percent over the period closing at C$1.45.
The positive performance is likely due to the company announcement that it will be purchased by private equity group Orion Mine Finance for C$537 million.
Almonty Resources is currently developing its Sangdong tungsten mine in South Korea. The company also has projects in various stages around Spain. Almonty shares were up 27.40 percent last week, closing on Friday (June 22) at C$0.93. The increase is a result of the steady growth in the price of tungsten.
The company did not release an news during the period.
Titan Mining is a natural resource company engaged in the acquisition, exploration and development of mineral properties. Its principal asset, is a group of wholly-owned Empire State zinc mines, in St. Lawrence County, New York. Titan shares grew by 22.03 percent last week, closing on Friday at C$1.44.
The company did not release any company news.
Lithium Americas is presently developing the Cauchari-Olaroz brine deposit in Jujuy, Argentina. The company also has an ongoing project in Nevada. Lithium Americas stock was up 11.00 percent, sitting at C$7.47.
On Thursday (June 21), Lithium America’s released the results from a preliminary feasibility study at Thacker Pass in Nevada.
Treasury Metals is a Canadian gold miner, currently focused on its 100-percent owned Goliath gold project in Ontario, near the Manitoba border. Treasury Metals experienced modest growth last week, up 3.70 percent closing at C$0.42.
The company did not release any news last week, however the company held its annual meeting of shareholders on June 13, 2018.
Data for 5 Top TSXV 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.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.