5 Top Weekly TSX Stocks: Mountain Province Gains on Diamond Sales Results

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upward this past Friday (September 25) and ultimately closed the week at 16,065.35.

On Friday, concerns around the economic impact of rising coronavirus infections impacted the index, offsetting optimism over domestic stimulus measures.

Gold and silver continued their downward trend last week on the back of a stronger US dollar. Copper held steady on Friday after hitting a one month low earlier in the week.

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

• Xtra-Gold Resources (TSX:XTG)
• Mountain Province Diamonds (TSX:MPVD)
• Advantage Oil and Gas (TSX:AAV)
• Marimaca Copper (TSX:MARI)
• International Tower Hill (TSX:ITH)

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

1. Xtra-Gold Resources

Xtra-Gold Resources is a gold exploration company with a substantial land position in Ghana’s Kibi Gold Belt. The company holds five mining leases covering approximately 226 square kilometers at the northern extremity of the belt.

The company did not release any news last week, but early in September it shared assay results. During the latest five day period, Xtra-Gold’s share price jumped 9.02 percent to end the week at C$1.33.

2. Mountain Province Diamonds

Mountain Province Diamonds holds an interest in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kue, a joint venture between the company and De Beers, which is owned by Anglo American (LSE:AAL,OTCQX:AAUKF), is one of the world’s largest new diamond mines.

Last Monday (September 21), the company announced preliminary results for its latest diamond sale in Antwerp, Belgium, which closed on September 19. Total proceeds from the sale were US$8.9 million from 210,661 carats at an average realized value of US$42 per carat, indicating a 1 percent discount to values achieved for similar diamonds at a sale in February. Last week, Mountain Province’s share price jumped 7.32 percent to end at C$0.44.

3. Advantage Oil and Gas

Advantage Oil and Gas is focused entirely on development of its position in the Montney natural gas and liquids resource play.

The Calgary-based company did not release any news last week, but shares of Advantage increased 4.57 percent to end at C$1.83.

4. Marimaca Copper

Marimaca Copper is focused on its asset in Chile, the Marimaca project, which is one of the largest copper discoveries in the north of the country.

Last Wednesday (September 23), the company released the results of a high-resolution, drone-mounted magnetic survey in the district surrounding Marimaca. The company’s share price jumped 2.23 percent last week to end the period at C$3.21.

5. International Tower Hill Mines

International Tower Hill Mines has a 100 percent interest in the Livengood gold project, located along the paved Elliott Highway north of Fairbanks, Alaska.

The company’s share price rose 1.67 percent last week to reach C$1.83, but it didn’t release any news.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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