The Conversation (2)
Last week’s five top-gaining mining stocks on the TSX were Largo Resources, Corvus Gold, Energy Fuels, Cameco and Ur-Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was down last week, declining 0.93 percent to close the five-day period at 15,207.41.
The index edged down on Friday (April 6), led by energy and financial shares as renewed US/China trade tensions fueled investors’ worries.
Gold edged up due to a weaker US dollar after a payroll report. Meanwhile, copper was on track for a weekly loss.
Despite those factors, a number of TSX-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:
- Largo Resources (TSX:LGO)
- Corvus Gold (TSX:KOR)
- Energy Fuels (TSX:EFR)
- Cameco (TSX:CCO)
- Ur-Energy (TSX:URE)
Here’s a look at those companies and the factors that moved their share prices last week.
Largo Resources
Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide at its Vanadio de Maracás Menchen mine. Largo also has interests in a portfolio of other projects, including 100-percent interests in the Currais Novos tungsten tailings and Campo Alegre de Lourdes iron-vanadium projects in Brazil, and a 100-percent interest in the Northern Dancer tungsten-molybdenum property in Canada’s Yukon.
Shares of Largo Resources increased 18.71 percent to close the five-day period at C$1.64.
Corvus Gold
Corvus controls 100 percent of its North Bullfrog project in Southern Nevada. The project includes numerous prospective gold targets at various stages of exploration. On April 5, Corvus released drill results from three step-out holes in the northwest quadrant of the Mother Lode deposit.
Shares of Corvus Gold gained 12.9 percent last week to reach C$2.47.
Energy Fuels
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 a major environmental milestone at its Alta Mesa uranium project. Shares of Energy Fuels saw an increase of 7.62 percent last week to reach C$2.39.
Cameco
Cameco is one of the world’s largest uranium producers, providing about 16 percent of the world’s production from operations in Canada and Kazakhstan. The company holds about 458 million pounds of proven and probable reserves and extensive resources on three continents. Cameco is also a leading provider of nuclear fuel processing services.
Although it is a difficult time for the uranium market, the company remains cautiously optimistic about the future. Shares of Cameco saw a spike of 7.17 percent to close last week at C$12.55.
Ur-Energy
Last but not least is Ur-Energy, whose share price rose 6.49 percent to close at C$0.82 last week.
Ur-Energy is a uranium-mining company that operates the Lost Creek in-situ recovery uranium facility in South-Central Wyoming. The company has produced, packaged and shipped more than 2 million pounds from Lost Creek since the commencement of operations.
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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.
