Last week’s other top-gaining mining stocks on the TSX were PolyMet Mining, Pretium Resources, Vista Gold and Horizonte Minerals.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell by 65.94 points at open to 16,351.04 and the downward trend continued over the morning on Friday (August 10). By midday, another 40 some points were lost leaving the TSX at 16,308.70 at 11:50 am EST.
The 100-point drop was spurred on by increasing concern around Turkey’s current economic crisis and weakening relations with America. The growing tensions between Canada and Saudi Arabia, the country’s 25th-largest trading partner, also weighed on the TSX.
- TransAtlantic Petroleum (TSX:TNP)
- PolyMet Mining (TSX:POM)
- Pretium Resources (TSX:PVG)
- Vista Gold (TSX:VGZ)
- Horizonte Minerals (TSX:HZM)
Here’s a look at those companies and the factors that moved their share prices last week.
Canadian-based TransAtlantic Petroleum is an international energy producer currently focused on the acquisition, exploration, development and production of oil and natural gas resources. TransAtlantic is pursuing opportunities around the globe.
Earlier in the week (August 8), the company released its Q2 financials, which highlighted quarterly revenues of C$18.2 million—a C$1.3 million increase from the same quarter in 2017. TransAtlantic shares were up 53.33 percent to end the week at C$1.97.
PolyMet also released its second quarter update for 2018 last week. During Q2, PolyMet exchanged titles with the US Forest Service for federal and private lands. PolyMet now controls both surface and mineral rights in and around the NorthMet ore body. Company shares were up 14.85 percent to C$1.12.
Precious metals miner Pretium is currently engaged with ramping up production at its wholly-owned Brucejack gold mine in northwestern British Columbia. Presently, Brucejack is capable of producing 2,700 tonnes of high-grade gold per day.
Pretium announced its Q2 earnings and operations update on August 9. The company reported a cash balance increase of C$722 million for the quarter, bringing quarterly revenue to C$142.5 million. Company stock rose 14.34 percent last week to C$11.72.
Gold miner Vista Gold is developing its flagship project the Mt Todd gold mine in Australia’s Northern Territory. According to Vista, Mt Todd is the largest undeveloped gold project down under.
The company did not release any news during the period. Vista Gold stock was up 9.33 percent to end the week at C$0.82.
Horizonte Minerals is a nickel development company focused on advancing the Araguaia nickel-laterite project in Brazil.
During the period, Horizonte did not release any company announcements. Shares of the company were up 8.33 percent, to C$0.065.
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.