5 Top Weekly TSX Stocks: Oil Jumps, Stocks Follow Ahead of OPEC Meeting

- June 7th, 2020

Last week’s top-gaining stocks on the TSX were Baytex Energy, Gran Tierra, Athabasca Oil, Seven Generations Energy and International Petroleum.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upwards early last Friday (June 5), increasing 333.46 points to 15,861.33.

Rising oil prices were pushing the index up as investors awaited an Organization of the Petroleum Exporting Countries (OPEC) meeting that could extend supply cuts.

In other commodities, gold was trading below US$1,700 per ounce on Friday, on track for a weekly loss, while silver was also trending downward. In base metals, copper was heading for a weekly gain, almost touching US$5,500 per tonne.

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

  • Baytex Energy (TSX:BTE)
  • Gran Tierra Energy (TSX:GTE)
  • Athabasca Oil (TSX:ATH)
  • Seven Generations Energy (TSX:VII)
  • International Petroleum (TSX:IPCO)

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

1. Baytex Energy

Baytex Energy is an oil and gas company engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the US.

The Calgary-based company did not release any news last week, but Baytex Energy’s share price increased 83.33 percent over the five day period to close at C$0.77.

2. Gran Tierra Energy

Gran Tierra Energy is an independent international energy company focused on oil and natural gas exploration and production in Colombia and Ecuador. Last Monday (June 1), the company announced the completion of the semiannual redetermination of the company’s bank-syndicated credit facility.

As a result of the news, the company’s share price jumped 68.12 percent to end the week at C$0.58.

3. Athabasca Oil

Another Alberta-based energy company, Athabasca Oil is focused on the development of thermal and light oil assets. Last Monday, the company completed the annual review of its credit facilities.

In Q1, the company produced 36,550 barrels of oil equivalent per day. Last week, Athabasca Oil saw its share price increase 65.38 percent to C$0.21.

4. Seven Generations Energy

Seven Generations Energy is developing the Kakwa River project. This large-scale, liquids-rich Montney natural gas property, covering more than 500,000 net acres, is located about 100 kilometers south of the company’s operational headquarters in Grande Prairie in Northwest Alberta.

The company did not release any news last week, but went up by 39.14 percent to reach C$4.04.

5. International Petroleum

International Petroleum describes itself as a new international oil and gas exploration and production company with a portfolio of assets located in Canada, Europe and South East Asia. International Petroleum is a member of the Lundin Group.

Though it did not release news last week, shares of the company rose 38.83 percent to end at C$2.86.

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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