Last week’s other top-gaining mining stocks on the TSX were Northern Dynasty Minerals, Uranium Participation, Prairie Provident and Crew Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened slightly higher on Friday (July 27) at 16,471.38, up 15.65 points from the previous day. By midday, the TSX had lost all those gains, sitting at 16,4442.19 at 11:38 am EST.
Oil prices remained steady despite a decrease in US inventories and Saudi Arabia’s decision to stop tanker shipments through a Red Sea shipping lane after two tankers were attacked by Houthi militants early last week.
- Largo Resources (TSX:LGO)
- Northern Dynasty Minerals (TSX:NDM)
- Uranium Participation (TSX:U)
- Prairie Provident Resources (TSX:PPR)
- Crew Energy (TSX:CR)
Here’s a look at those companies and the factors that moved their share prices last week.
Toronto-based Largo Resources is a mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at the Maracás Menchen mine located in Bahia State, Brazil.
On July 24, Largo announced an underwritten secondary offering of 60 million common shares, and an additional 9-million common share representing the exercise in full of the over-allotment.
Largo’s shares experienced the greatest increase last week, climbing by 20.59 percent, to C$2.05.
Northern Dynasty Minerals
Precious and base metal miner Northern Dynasty is the sole owner of the Pebble Partnership project in Alaska. The site is considered to be among the world’s largest undeveloped copper–gold–molybdenum–silver resources.
Northern Dynasty did not release any announcements during the period. The company’s share price was up 9.09 percent to C$0.72.
Uranium Participation invests 85 percent and more of its equity into uranium with the goal of having the value appreciate. It also lends occasionally lends uranium to third parties.
While the company did not release any news of its own, Cameco (TSX:CCO), Canada’s leading uranium producer announced it would be indefinitely closing its McArthur uranium project. The McArthur site accounts for 11 percent of global uranium consumption. This news likely drove Uranium Participation’s shares higher. They were up 9.31 percent for the week and closed at C$4.46.
Prairie Provident Resources
During the week Prairie released no company news. Shares in the Alberta-based company were up 3.53 percent, ending the week at C$0.44.
Crew Energy is an oil and natural gas producer, committed to the pursuit of sustainable per share growth. The company is currently focused on exploring and developing the Montney resource situated in northeast British Columbia.
Crew has not released any company news since May. Shares of Crew Energy were up 0.21 percent to close the week at C$2.43.
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 basic materials and energy sectors are considered.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.