5 Top Weekly TSX Stocks: Laramide Rises Following Acquisition
Last week’s other top-gaining mining stocks on the TSX were Valeura Energy, Aquila Resources, Liberty Gold and Oryx Petroleum.
By midday, Canada’s largest exchange had recovered some of the loss following the signing of the North American trade agreement between Mexico, Canada and the United States. The three countries signed the deal on the sidelines of the G20 Summit, the pact between the three nations boded well for the Canadian economy. The TSX sat at 15,166.63 at 1:50 p.m. EST.
Last week’s top TSX stocks include three energy companies, one gold-focused explorer and a diversified mining company. The five TSX-listed mining stocks that saw the biggest gains were as follows:
- Laramide Resources (TSX:LAM)
- Valeura Energy (TSX:VLE)
- Aquila Resources (TSX:AQA)
- Liberty Gold (TSX:LGD)
- Oryx Petroleum (TSX: OXC)
Here’s a look at those companies and the factors that moved their share prices last week.
Laramide Resources is an uranium exploration and development company with assets in both the US and Australia. The projects Laramide targets are considered late-stage uranium developments with good grades and low risk.
The company did not release any news this week. Earlier this month, Laramide completed the purchase of the Australian Murphy project from mining major Rio Tinto (ASX:RIO, LSE:RIO, NYSE:RIO) for AU$450,000. Laramide shares were up 21.62 percent to C$0.45.
Valeura is a Canadian petroleum and natural gas company, focused on exploration, development, and production in Turkey. Valeura made no company announcements last week, however Valeura did release its Q3 results.
“The fundamentals of our business in Turkey remain very sound,” Sean Guest, president and CEO, said in the Q3 results. “We have seen repeated lira-denominated price increases over Q3 2018 and Q4 2018 to date, which serve to offset the devaluation in the Turkish Lira and provide confidence that the long-term value of our gas will closely mirror broader European market prices.”
Company stock grew by 14.24 percent, trading at C$3.69.
Canadian diversified explorer Aquila is engaged with developing its wholly-owned Back Forty zinc and gold project in Michigan. While Aquila has not posted any news for late November, the company did release its third quarter results at the beginning of the month.
“Despite recent market weakness, we continue to execute on our strategy of advancing the Back Forty Project and unlocking its fundamental value,” said Barry Hildred, president and CEO. “Aquila is well funded to advance our planned pre-construction activities at Back Forty, which is one of a select group of permitted development-stage projects in the US.”
Aquila shares ticked up 11.76 percent, to C$0.19.
Precious metals miner Liberty Gold is currently exploring the Great Basin in the United States, home to a number of large-scale gold projects. The Great Basin region is one of the largest gold-producing regions in the world stretching across Nevada, Idaho and Utah.
Oryx Petroleum is an oil exploration and development company with ongoing projects in Africa and the Middle East. The company has acquired interest in seven license areas since it was established in 2010.
The company made no announcements last week. Stock was up 10 percent, trading at C$0.22.
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.