Last week’s top-gaining mining stocks on the TSX were Storm, Paramount Resources, International Petroleum, Advantage Oil and Gas and NuVista.
The upward momentum continued throughout the morning thanks to a broad-based advance. By midday, the TSX was up 166.52 points from the previous trading session, to 15,862.50.
Last week’s top TSX stocks include five energy companies specializing in oil and gas exploration, development and production.
The five TSX-listed mining stocks that saw the biggest gains are as follows:
- Storm Resources (TSX:SRX)
- Advantage Oil and Gas (TSX:AAV)
- Paramount Resources (TSX:POU)
- International Petroleum (TSX:IPCO)
- NuVista Energy (TSX:NVA)
Here’s a look at those companies and the factors that moved their share prices last week.
Canadian-focused Storm Resources is an oil and gas exploration and development company. Currently, the company is focused on the development of its projects in northeast British Columbia. Storm is also engaged in advancing its assets in the Montney natural gas resource.
Storm has made no company announcements since mid-January. Company shares were up 27.65 percent last week, to C$2.17.
Advantage Oil and Gas
Advantage is also an oil and gas company focused on developing its four assets in the Montney Play, which includes the company’s signature property at Glacier and its emerging land blocks at Valhalla, Progress and Pipestone/Wembley.
Canadian energy company Paramount Resources currently develops, produces and markets natural gas, oil and natural gas liquids in Alberta, British Columbia, Saskatchewan and the Northwest Territories.
Paramount made no company announcements last week. Company stock grew by 23.51 percent last week, trading at C$9.30.
International Petroleum is a relatively new oil and gas explorer and producer with a number of portfolio assets around the world, including Canada, Europe and South East Asia. International Petroleum estimates 2019 output from its various international projects will reach 46,000 to 50,000 barrels of oil equivalent per day.
On February 12 International released its 2018 year-end financial results and 2019 guidance.
“Our focus since launching IPC in April 2017 remains unchanged: seeking to deliver operational excellence, demonstrating financial resilience, maximizing the value of our resource base and targeting growth through acquisition. With our fourth quarter of 2018 performance delivered ahead of guidance and another transformational acquisition completed in December 2018, we continue to make excellent progress on all fronts in delivering on that strategy,” said CEO Mike Nicholson.
Company shares were up 23.35 percent, to C$5.60.
NuVista is an oil and natural gas company developing its oil and natural gas reserves in the Western Canadian Sedimentary Basin. The company’s main focus is the advancement of its assets in the Montney formation in the Alberta Deep Basin.
While NuVista made no announcements last week; on February 7, the company did release its operational update and revised capital spending plan.
NuVista stock grew by 21.32 percent on Friday, to C$4.61.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.