5 Top Weekly TSX Stocks: Mountain Province Surges on Massive Gem Discovery

- December 20th, 2020

Last week’s top-gaining stocks on the TSX were Mountain Province Diamonds, Black Iron, St. Augustine Gold and Copper, Obsidian and Moneta Porcupine. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week down at 17,527.66.

Despite strength in energy stocks and upbeat domestic retail sales data, weakness in the materials sector pushed the index down on Friday (December 18) morning.

In commodities, prices for gold and silver slipped as the US dollar surged, while copper briefly broke the US$8,000 per tonne mark.

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

  • Mountain Province Diamonds (TSX:MPVD)
  • Black Iron (TSX:BKI)
  • St. Augustine Gold and Copper (TSX:SAU)
  • Obsidian Energy (TSX:OBE)
  • Moneta Porcupine (TSX:ME)

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

1. Mountain Province Diamonds

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

Last Wednesday (December 16), the company released Q4 diamond sales results and reported the recovery of an exceptional diamond ― a 157.4 carat gem. During the five day period, Mountain Province’s share price jumped 55.32 percent to end at C$0.73.

2. Black Iron

Toronto-based Black Iron is focused on advancing its 100 percent owned Shymanivske project located in Krivyi Rih, Ukraine, to production.

During the five day period, Black Iron’s share price jumped 47.92 percent to finish at C$0.35.

3. St. Augustine Gold and Copper

St. Augustine Gold and Copper is focused on the development of the King-king copper-gold project. The project is one of the largest undeveloped copper-gold deposits in the world, and is listed as a top three priority mining project by the Philippine government.

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Despite not releasing any news last week, shares of St. Augustine Gold and Copper increased 35.71 percent to end at C$0.09.

4. Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.

Despite not releasing any news last week, shares of the company increased 32.35 percent to end the five day period at C$0.90.

5. Moneta Porcupine

Gold exploration company Moneta Porcupine holds a 100 percent interest in six core gold projects, and has a 50 percent joint venture with Kirkland Lake Gold (TSX:KL,NYSE:KL). The projects are strategically located on or along the Destor Porcupine fault zone corridor, one of the key mineralized structures in the Abitibi greenstone belt in Ontario.

Last week, Moneta Porcupine saw its share price go up by 31.37 percent to reach C$0.33.

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.

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