The index edged up on Friday (April 13) as a rally in commodities prices lifted the shares of energy and metal-mining companies.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:
- Avesoro Resources (TSX:ASO)
- UEX (TSX:UEX)
- Largo Resources (TSX:LGO)
- Nemaska Lithium (TSX:NMX)
- Lydian International (TSX:LYD)
Here’s a look at those companies and the factors that moved their share prices last week.
Avesoro Resources is engaged in the exploration and development of gold deposits in Liberia and Cameroon. The company is currently focused on the New Liberty gold mine in Liberia, which is Liberia’s first and largest commercial gold mine.
On April 9, the company released preliminary production results for Q1. Shares of Avesoro gained 20.73 percent last week to reach C$4.60.
UEX is an exploration and development company focused on 14 uranium projects located in the eastern, western and northern perimeters of the Athabasca Basin, the world’s richest uranium belt. On April 9, the company published drill results for its West Bear prospect.
Shares of UEX saw an increase of 16 percent last week to reach C$0.29.
Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide at its Vanadio de Maracás Menchen mine. Largo also has interests in a portfolio of other projects, including a 100-percent interest in the Currais Novos tungsten tailings and the Campo Alegre de Lourdes iron-vanadium projects in Brazil, and a 100-percent interest in the Northern Dancer tungsten-molybdenum property in Canada’s Yukon.
Shares of Largo Resources increased 12.66 percent to close the five-day period at C$1.78.
Nemaska Lithium is engaged in the exploration and development of hard-rock lithium-mining properties and the processing of spodumene into lithium compounds. Its wholly owned Whabouchi spodumene mine project in Quebec is estimated to be the second-richest and largest lithium deposit in the world.
On April 12, the company provided an update on its project financing plans, confirming that it has entered into a US$150-million streaming agreement with Orion Mine Finance. Shares of Nemaska Lithium saw a spike of 11.86 percent to close the five-day period at C$1.32.
Last but not least is Lydian International, whose share price saw an increase of 9.52 percent to close the five-day period at C$0.46.
Lydian is a gold developer and is focused on construction at its 100-percent-owned Amulsar gold project, located in South-Central Armenia. On April 9, the company announced the termination of a royalty agreement with Newmont Overseas Exploration, choosing a fixed payment option instead.
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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.
Editorial Disclosure: Nemaska Lithium is a client of the Investing News Network. This article is not paid-for content.