5 Top Weekly TSX Performers: Inplay Oil Up on Acquisition News

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (October 1), trading at 20,106.39 by midday. It closed the period at 20,146.51.

Statistics Canada released the country’s latest economic data during the period. Despite receiving a boost from mining stocks, the index was on track for its worst weekly performance in eight months.

On Friday, gold and silver edged higher as the US dollar weakened and worries over inflation increased.

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

• Southgobi Resources (TSX:SGQ)
• Titan Mining (TSX:TI)
• Crew Energy (TSX:CR)
• Sierra Metals (TSX:SMT)
• InPlay Oil (TSX:IPO)

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

1. SouthGobi Resources

SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of the China-Mongolia border. The company also holds mining and exploration licences for other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.

The integrated coal supplier did not release any news last week, but shares of SouthGobi Resources increased 140.63 percent, and were trading at C$0.77 by the end of the period.

2. Titan Mining

Titan Mining owns the Empire State mine, a group of wholly owned high-grade zinc mines located in St. Lawrence County, New York. Over 100 years of mining, the asset produced an aggregate 44 million tons at an average mill head grade of 9.4 percent zinc, equivalent to about 4 million tons of zinc metal.

Earlier in September, the company declared a cash dividend of C$1.4 million. Last week, shares of the company increased 41.43 percent to end at C$0.495.

3. Crew Energy

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

Over the five day period, shares of Crew Energy increased 22.63 percent to end the week at C$3.36.

4. Sierra Metals

Sierra Metals is a growing polymetallic mining company with copper production from its Yauricocha mine in Peru and its Bolivar and Cusi mines in Mexico.

Last week, Sierra Metals saw its share price increase 21.28 percent to hit C$2.85.

5. InPlay Oil

InPlay Oil is a light oil development and production company based in Calgary, Alberta. The company’s activity is focused on large oil-in-place pools with low recovery factors, low declines and long-life reserves, primarily targeting the Cardium formation in Alberta.

Last Tuesday (September 28), InPlay entered into a definitive agreement to acquire Prairie Storm Resources (TSXV:PSEC), a light oil Cardium-focused producer with operations primarily in the Willesden Green area of Central Alberta; the deal is for total net consideration of approximately $40.5 million. Last week, shares of InPlay increased 19.23 percent, and were trading at C$1.55 by the end of the week.

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.