Last week’s other top-gaining stocks on the TSX were Red Eagle Mining, Horizonte Minerals, Orocobre and TMAC Resources.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened flat on Friday (July 13) at 16,560.91, before gaining 12 points around 10:00 a.m. EST. By midday, most of the morning progress had been countered when the TSX fell to 16,554.02 at 2:45 p.m. EST.
The poor performance was attributed to falling gold prices, which weighed down the materials sector and offset energy stock gains. Bank stocks also dragged on the financial sector. September futures, which were up 0.05 percent early in the day, helped prop up the market.
- Red Eagle Mining (TSX:R)
- Osisko Mining (TSX:OSK)
- Horizonte Minerals (TSX:HZM)
- Orocobre Limited (TSX:ORL)
- TMAC Resources (TSX:TMR)
Here’s a look at those companies and the factors that moved their share prices last week.
Red Eagle Mining
Red Eagle Mining is a gold producer focused on acquiring, developing and operating gold and silver projects in Colombia. Presently, Red Eagle owns 100 percent of the Santa Rosa gold, Vetas gold, California gold and Santa Ana silver projects.
Red Eagle did not release any company news last week. Shares of Red Eagle were up 15.15 percent, ending the five-day period at C$0.19.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko is the sole owner of the Windfall Lake gold deposit, located between Val-d’Or and Chibougamau in Québec. The company is also the 100-percent owner of the Marban project located in the heart of Québec’s prolific Abitibi gold mining district.
On July 11, Osisko announced the discovery of a new wide zone high-grade gold mineralization at the company’s wholly-owned Windfall lake gold project. The announcement likely contributed to Osisko’s share bump. Osisko’s shares experienced the second greatest growth last week, rising 11.46 percent to close at C$2.14.
Horizonte Minerals is a nickel company presently focused on developing the Araguaia project as a ferronickel mine in Brazil. Shares of Horizonte were up 7.14 percent last week, closing at C$0.07.
Horizonte made no announcements during the period.
Orocobre is a lithium miner with an ongoing project in the “lithium triangle”. The company has developed the first large–scale, de-novo brine-based lithium project in over two decades at its flagship Salar de Olaroz resource. Orocobre is also engaged in borax exploration and development. The company’s shares experienced a 1.66 percent increase, ending the week at C$5.52
Orocobre released no company news or announcements last week.
TMAC Resources’ Doris mine began commercial production in the second quarter of 2017, and its Madrid and Boston properties are expected to commence production in 2020 and 2022, respectively. Shares of TMAC had a mild uptick of 1.55 percent, ending the five-day period at C$6.56.
TMAC’s last company announcement came at the end of June. The company reported receiving key permits needed to advance its Nunavut-based project.
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Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.