5 Top Weekly TSX Stocks: Gear Energy Leads with 44 Percent Gain

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (May 7) and was trading at 19,438.33 by midday. It closed the period at 19,476.27.

The index was supported by materials stocks, which rose on the back of a higher gold price.

Last Friday, the precious metal was on track to hit its best week in six months, with sister metal silver also on course for a weekly gain.

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

• Gear Energy (TSX:GXE)
• Nevada Copper (TSX:NCU)
• Trevali Mining (TSX:TV)
• Scandium International Mining (TSX:SCY)
• NexGen Energy (TSX:NXE)

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

1. Gear Energy

Calgary-headquartered Gear Energy is an oil company focused on operations in three core areas: Lloydminster heavy oil, Central Alberta light-medium oil and Southeast Saskatchewan light oil.

Last Wednesday (May 5), the company released its Q1 operating results, showing that funds from operations came to C$8.3 million, an increase of 32 percent from the first quarter of 2020. Last week, Gear Energy’s share price increased 44.23 percent to hit C$0.75.

2. Nevada Copper

Nevada Copper’s flagship Pumpkin Hollow copper project is located in Nevada, US. Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

Over the five day period, shares of Nevada Copper increased 28.89 percent and were trading at C$0.29 by the end of the week.

3. Trevali Mining

Trevali Mining is a base metals miner with four main operations: the 90 percent owned Perkoa mine in Burkina Faso, the 90 percent owned Rosh Pinah mine in Namibia, the wholly owned Caribou mine in Northern New Brunswick, Canada, and the wholly owned Santander mine in Peru.

Despite not releasing any news last week, Trevali’s share price jumped 26.19 percent to end at C$0.26.

4. Scandium International Mining

Scandium International Mining is aiming to become the first company to achieve production from a primary scandium mine. The company has 100 percent interests in the Nyngan scandium project and the Honeybugle scandium property, located in New South Wales, Australia.

The company did not release any news last week, but shares of Scandium International increased 25 percent to end at C$0.22.

5. NexGen Energy

Uranium developer NexGen Energy is focused on Saskatchewan’s prolific Athabasca Basin. The company holds a portfolio of projects and discoveries, including the Arrow deposit, the Bow discovery, the Harpoon discovery and Arrow South.

Last week, shares of NexGen increased 24.35 percent to end the period at C$5.77.

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.