5 Top Weekly TSX Stocks: Uranium Stocks Rise as Price Spikes

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was up on Friday (April 14), climbing 305.75 points to finish the week at 14,205.07.

The index edged up on the back of US President Donald Trump’s plan to reopen the economy, and on reports of a potential drug to treat COVID-19, which increased investor optimism.

In commodities, gold was trading above US$1,700 per ounce for most of the week, with silver holding above US$15 per ounce after being under pressure for most of March.

Last week’s five TSX-listed mining stocks that saw the biggest share price gains are as follows:

• TMAC Resources (TSX:TMR)
• Amerigo Resources (TSX:ARG)
• Fission Uranium (TSX:FCU)
• Mandalay Resources (TSX:MND)
• UEX (TSX:UEX)

Here’s a look at those companies and the factors that moved their share prices last week.

1. TMAC Resources

Gold producer TMAC Resources operates the Doris mine, which poured first gold in February 2017 and achieved commercial production in the second quarter of that year. The company’s Madrid and Boston properties are expected to commence production in 2020 and 2022, respectively.

Despite not releasing news last week,TMAC Resources’ share price increased 61.54 percent over the five day period to close at C$1.05.

2. Amerigo Resources

Another producer that made the top TSX stocks list last week is Amerigo Resources. The company produces copper concentrate at its 100 percent owned MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine.

Last Wednesday (April 15), Amerigo released its Q1 production results, saying there have been no plant stoppages since March 3. As a result, its share price jumped 56.41 percent to end the week at C$0.30.

3. Fission Uranium

Fission Uranium is focused on the exploration and development of the Patterson Lake South uranium property, which hosts the Triple R uranium deposit.

Fission Uranium saw its share price increase 43.9 percent last week to reach C$0.29, despite not releasing news. However, uranium prices have been trending higher since the start of the month.

4. Mandalay Resources

Mandalay Resources is focused on growing production at its gold and antimony Costerfield operation in Australia, and gold production from its Björkdal operation in Sweden.

The company released its Q1 results last Monday (April 13), with consolidated production reaching 25,677 saleable gold equivalent ounces. Mandalay said that it sold 24,276 gold equivalent ounces during the three month period.

Last week, Mandalay saw its share price go up by 40.26 percent to reach C$1.08.

5. UEX

UEX is an exploration and development company focused on several uranium projects located in the eastern, western and northern perimeters of the Athabasca Basin, the world’s richest uranium belt. The company also holds interests in three cobalt–nickel exploration projects located in the Athabasca Basin, including the only primary cobalt deposit in Canada.

On Tuesday (April 14), UEX released an updated mineral resource estimate for the West Bear cobalt-nickel deposit, located on the company’s 100 percent owned West Bear property.

Last week, shares of the company increased 40 percent to end at C$0.17.

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 energy minerals and non-energy minerals sectors are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.