Even so, the index posted its biggest gain in more than six weeks on Thursday (March 29), led by resources and financial shares. The index was still down for the quarter, reaching its deepest quarterly decline in two and a half years.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:
- Teranga Gold (TSX:TGZ)
- Corvus Gold (TSX:KOR)
- Energy Fuels (TSX:EFR)
- Nighthawk Gold (TSX:NHK)
- Perseus Mining (TSX:PRU)
Here’s a look at those companies and the factors that moved their share prices last week.
Teranga Gold owns and operates the Sabodala gold mine, the only gold mine and mill in Senegal. On March 22, the company announced results from drilling at its Golden Hill property in Burkina Faso,.
Shares of Teranga Gold increased 47.21 percent to close the five-day period at C$4.49.
Corvus Gold controls 100 percent of its North Bullfrog project in Southern Nevada. The project includes numerous prospective gold targets at various stages of exploration. On March 22, Corvus released drill results from two holes at its Mother Lode project.
Shares of Corvus gained 30.72 percent last week to reach C$2.17.
Energy Fuels is a leading integrated US-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels holds three of America’s key uranium production centers: the White Mesa mill in Utah, the Nichols Ranch processing facility in Wyoming and the Alta Mesa project in Texas.
On March 29, the company announced that it achieved a major environmental milestone at its Alta Mesa uranium project. Shares of Energy Fuels saw an increase of 13.2 percent last week to reach C$2.23.
Nighthawk Gold is an exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. Its flagship Colomac gold project lies within its Indin Lake property. Shares of Nighthawk Gold spoked 9.68 percent to close the five-day period at C$0.68.
Last but not least on the list is Perseus Mining, whose share price saw an increase of 5.56 percent to close the five-day period at C$0.47.
Perseus is a diversified West Africa-focused gold production, development and exploration company. Perseus’ lead project is the Edikan gold mine in Ghana. The company is exploring near-mine prospects, including Bokitsi, Mampong, Pokukrom and the Agyakusu prospecting license, with the goal of delineating further resources to extend the life of Edikan.
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Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.