5 Top Weekly TSX Stocks: Largo Up After Launching Clean Energy Business

- December 13th, 2020

Last week’s top-gaining stocks on the TSX were Platinum Group Metals, Cardinal Energy, Transglobe Energy, Largo Resources and Condor Gold. 

After a bumpy week of ups and downs, the S&P/TSX Composite Index (INDEXTSI:OSPTX) ended up on Friday (December 11) at 17,551. 

Energy stocks fell on the last business day of the week, with concerns over delays to a new US stimulus package also hurting sentiment.

In commodities, gold and silver rose on Friday, while copper was steady above US$7,700 per tonne.

 

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

  • Platinum Group Metals (TSX:PTM)
  • Cardinal Energy (TSX:CJ)
  • Transglobe Energy (TSX:TGL)
  • Largo Resources (TSX:LGO)
  • Condor Gold (TSX:COG)

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

1. Platinum Group Metals

Platinum Group Metals is the operator and majority owner of the Waterberg project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. Additionally, the company founded Lion Battery Technologies in partnership with Anglo American Platinum (OTC Pink:AGPPF,JSE:AMS) to support the use of palladium and platinum in lithium battery applications.

Last Tuesday (December 8), Platinum Group Metals closed a non-brokered private placement for US$2.49 million. The company’s share price jumped 82.95 percent to end the week at C$7.19.

2. Cardinal Energy

Cardinal Energy is a gold-focused exploration and development company with interests in tenements in Ghana, West Africa. The company is focused on the development of the Namdini gold project.

Cardinal launched a private placement last Monday (December 7) and announced the extension of a credit facility on Wednesday (December 9). During the five day period, the company’s share price jumped 43.08 percent to end at C$0.93.

3. Transglobe Energy

TransGlobe Energy is an oil and gas exploration and development company whose current activities are concentrated in Egypt and Canada.

 

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Despite not releasing any news last week, Transglobe Energy rose 35.87 percent to end at C$1.25.

4. Largo Resources

Largo Resources is a vertically integrated producer and supplier of high-quality vanadium. Largo can service multiple vanadium market applications through its products, which are sourced from one of the world’s highest-grade vanadium deposits at the Maracás Menchen mine located in Brazil.

Last Tuesday, the company launched Largo Clean Energy, a vertically integrated vanadium redox flow battery business, to provide clean energy storage systems to the fast-growing, long-duration renewable energy storage market. Shares of the company increased 31.78 percent last week to end at C$1.56.

5. Condor Gold

With a focus on Nicaragua, exploration and development company Condor Gold has a number of projects in Central America. Its flagship project is La India.

Last Monday, the company started an infill drilling program at La India. Condor saw its share price go up by 30.99 percent during the period to reach C$0.93.

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.

 

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