5 Top Weekly TSX Stocks: Star Diamond Jumps on Rio Tinto News

Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was at 17,028.96 last Friday (November 15), up 56.78 points on the day. It was at 16,877.42 the same time the week before.

Global news was focused on US political happenings and Hong Kong’s economy, while in Canada, Alberta is fuming over Sweden dumping its bonds due to the province’s energy and climate change policy.

In the rest of the commodities space, markets remain ever hopeful that the US-China trade war will end soon — so on cue, gold dipped.

On the company front, these are the top five gainers on the Toronto Stock Exchange from last week:

• Star Diamond (TSX:DIAM)
• Guyana Goldfields (TSX:GUY)
• Detour Gold (TSX:DGC)
• Liberty Gold (TSX:LGD)
• Ascot Resources (TSX:AOT)

Notice that gold stocks dominate. Scroll down to find out what each company has been up to lately.

Star Diamond

Star Diamond is a Saskatchewan-based and -focused diamond company with its key asset — the Star-Orion South diamond project — located in the central region of the province. Star-Orion South is 100 percent controlled by Star Diamond.

In November, the company posted big news more than once, first announcing on SEDAR its third quarter results on November 7. Then, on November 15, Rio Tinto Exploration Canada provided notice that it would be exercising all four options under a joint venture agreement with Star that was entered into by the two companies back in 2017.

Star was up by 32.5 percent on the TSX last Friday, reaching C$0.265 by the end of the week.

Guyana Goldfields

Mid-tier gold miner Guyana Goldfields is focused on the exploration, development and operation of gold deposits in the South American nation that gives it its name.

The company released its Q3 results on October 30, detailing quarterly gold production of 22,100 ounces for total production of 96,000 ounces year-to-date.

Its share value was at C$0.66 as of the end of last week. Guyana Goldfields gained 26.92 percent over the previous five days of trading.

Detour Gold

Mid-tier Canadian gold producer Detour Gold has a 100 percent stake in Ontario’s Detour Lake mine.

Detour released its Q3 results on Thursday (November 14), tightening its guidance for 2019 to between 590,000 and 605,000 ounces of gold. Production in Q3 was 137,670 ounces.

The company was trading at C$21.56 on the Toronto Stock Exchange last Friday after gaining 14.99 percent over the previous week.

Liberty Gold

Liberty Gold operates in the Great Basin of the United States, which stretches between three states. The company’s assets are across all those states, which are Nevada, Utah and Idaho.

On Tuesday (November 12), the company reported its Q3 results, highlighting discoveries and drill results at its Black Pine project in Idaho, where Liberty drilled 20,000 meters. Liberty also carried out drilling at its Goldstrike property in Utah during the quarter.

The Q3 results were well received, with Liberty’s share price gaining 13.58 percent on the TSX to reach C$0.92 by Friday.

Ascot Resources

Junior explorer Ascot Resources is focused on restarting the Premier gold-silver mine in British Columbia’s Golden Triangle in the north of the province.

The company has been doing some exploration, reporting on November 7 that it returned “exceptional” silver grades in grab samples at the Silver Hill prospect and New Gold zone at the Premier project.

Ascot was trading at C$0.57 as of last Friday — up by 11.76 percent.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than C$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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.