Last week’s other top-gaining mining stocks on the TSX were Nevsun Resources, Trevali Mining, UR-Energy and Almonty Industries.
The market dip was the result of financial and industrial stock losses as the threat of another round of US tariffs weighed heavily on the market.
Earlier in the week, US President Donald Trump vowed to impose tariffs on some US$500 billion in Chinese imports. A probe by the US Department of Commerce around uranium imports as a national security risk also began last week.
- Energy Fuels (TSX:EFR)
- Nevsun Resources (TSX:NSU)
- Trevali Mining (TSX:TV)
- UR-Energy (TSX:URE)
- Almonty Industries (TSX:AII)
Here’s a look at those companies and the factors that moved their share prices last week.
Energy Fuels is a US-based uranium producer currently focused on its three projects in Utah, Wyoming and Texas. The company also has ongoing vanadium projects.
Energy Fuels, along with UR-Energy, filed a petition with the US Department of Commerce in January, asking the agency to look into national security around uranium imports. Last week, the US government announced it would commence a probe into the matter. Energy Fuels’ share price was up 13.13 percent over the five-day period, closing at C$3.36.
On July 17, Nevsun issued an announcement advising shareholders that despite speculation, Lundin Mining (TSX:LUN) had yet to make a formal offer to Nevsun to acquire the company. Nevsun recommended its shareholders take no action. The company’s share price was up 11.22 percent on Friday, and sat at C$4.71.
Trevali Mining is a zinc-focused base metals miner with four mines located in Peru, New Brunswick, Namibia and Burkina Faso. Last week, Trevali posted its Q2 production results, recording output of 103.9 payable pounds of zinc and 10.5 million payable pounds of lead. The company’s share price rose 10.81 percent to C$0.82.
Ur-Energy is an American junior mining company operating the Lost Creek in-situ recovery uranium facility in South-Central Wyoming. The Lost Creek processing facility has the capacity to handle 2 million pounds per year.
As mentioned, UR-Energy and Energy Fuels were paramount in advocating for an investigation into the security of uranium imports in the US. The investigation was launched last week by the US Department of Commerce. Ur-Energy’s share price experienced a 6.82-percent bump last week to C$0.94.
Almonty Industries is currently developing its Sangdong tungsten mine in South Korea. The company also has projects in various stages around Spain. The company did not release any news or announcements last week. Almonty’s share price grew by 2.15 percent to C$0.95.
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.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels and Trevali Mining are clients of the Investing News Network. This article is not paid-for content.