5 Top Weekly TSX Stocks: TSX Closes at All-time High

Last week was a big one for the S&P/TSX Composite Index (INDEXTSI:OSPTX), which closed at an all-time high of 15,729.12 points on Friday (February 10). 
The Financial Post says that the index rallied on strong oil prices and “hopes of business-friendly tax cuts” in the US. Mining stocks also contributed to the index’s gains, with many companies in the energy, base metals and precious metals sectors enjoying large share price increases. The five top-gaining mining stocks on the TSX last week were:

• Katanga Mining (TSX:KAT)
• Paladin Energy (TSX:PDN)
• Marathon Gold (TSX:MOZ)
• Western Copper and Gold (TSX:WRN)
• Treasury Metals (TSX:TML)

Here’s a closer look at what moved the share prices of those companies last week.

Katanga Mining

Katanga Mining operates a copper-cobalt mine in the Democratic Republic of Congo through its joint ventures, Kamoto Copper Company and DRC Copper and Cobalt Project. On February 8, the company released its financial results for Q4 2016 and the full 2016 year.
The news pushed the company’s share price to a 52-week high of $0.29 on the day it was released. It closed at $0.28 on Friday, up 36.59 percent for the week.

Paladin Energy

Paladin Energy is a uranium company with projects in Australia and two mines in Africa. The company’s flagship project, the Langer Heinrich mine, is in Namibia and reached initial production in 2008. Paladin’s second mine is the Kayelekera mine in Malawi, which officially opened in April 2009.
Last week, Paladin Energy’s share price moved up 34.78 percent to end at $0.155. The company did not release any news that would explain that increase.

Marathon Gold

Marathon Gold is focused on its Valentine Lake property in Newfoundland, where it plans to complete 35,000 meters of drilling by the end of 2017. The project hosts four near-surface, mostly pit-shell constrained gold resources of 1,060,100 ounces of gold at 2.2 g/t (measured and indicated) and 200,000 ounces of gold at 2.85 g/t (inferred).
Like Paladin Energy, Marathon Gold did not release any news last week. Its share price rose 29.41 percent to close the week at $1.10.

Western Copper and Gold

Western Copper and Gold’s Casino project in the Yukon holds a variety of resources, including gold, copper and molybdenum. Notably, the project holds 8.9 million ounces of gold, 4.5 million ounces of copper, 483 million pounds of molybdenum and 65 million ounces of silver in proven and probable reserves.
While the company didn’t have any new news last week, its share price still climbed 29.41 percent to end at $2.11.

Treasury Metals

Treasury Metals closes out last week’s top-gaining TSX stocks list. The company is currently focused on its Goliath gold project in Ontario. Treasury Metals notes that it “[p]lans on the initial development of an open pit gold mine to feed a 2,5000 per day processing plant,” with an underground operation coming later in the mine’s life.
The company’s share price rose 21.88 percent last week to reach $0.78. It did not release any news that would explain that increase.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday after market close 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.

This article is updated each week. Please scroll to the top for the most recent information.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost some steam last week, falling 0.64 percent to end at 15,476.39 points.
Although the index was down over the five-day period, Reuters said it still made a strong one-day gain on Friday due to President Trump’s executive order regarding banking regulations. A number of mining stocks also did well last week, notably those in the gold and base metals sectors. The five top-gaining mining stocks on the TSX last week were:

• INV Metals (TSX:INV)
• Royal Nickel (TSX:RNX)
• eCobalt Solutions (TSX:ECS)
• TMAC Resources (TSX:TMR)
• Alacer Gold (TSX:ASR)

Here’s a closer look at what moved those companies’ share prices last week.

INV Metals

INV Metals is focused on developing and exploring its Loma Larga (previously Quimsacocha) gold project in Ecuador. The company completed a preliminary feasibility study for the project in 2016, and it outlines an estimated production rate of 3,000 tonnes per day with average annual gold production of 150,000 ounces.
Last week, INV Metals’ share price increased 41.54 percent to end at $0.92. It did not release any news that would explain that jump.

Royal Nickel

Royal Nickel’s principal assets are the Beta Hunt gold and nickel mine in Western Australia and the Dumont nickel project in Quebec. The company also has a 30-percent interest in the Reed mine in Manitoba, and has majority stakes in the West Raglan and Qiqavik projects in Quebec.
The company’s most recent news came on January 18, when it provided a production and exploration update for Beta Hunt. Its share price rose 23.08 percent last week, reaching $0.32, perhaps buoyed by news of nickel mine closures in the Philippines.

eCobalt Solutions

In the middle of the pack last week was eCobalt Solutions, whose share price rose 16.46 percent to end at $0.92. The company’s primary asset is its Idaho cobalt project, which is the only advanced-stage, near-term and environmentally permitted primary cobalt project in the US.

TMAC Resources

Gold-focused TMAC Resources owns the Nunavut-based Hope Bay project, which is home to the Doris and Boston mines. The Doris mine is slated to achieve commercial production in the first quarter of 2017. While the company released no news last week, its share price rose 13.32 percent to close the period at $17.69.

Alacer Gold

Last but not least is Alacer Gold, which has an 80-percent interest in the Copler gold mine in Turkey. Copler is slated to produce between 160,000 and 180,000 ounces this year, and is expected to continue producing until 2037.
Alacer Gold’s share price rose 11.25 percent last week to hit $2.67. Despite that share price increase, the company did not release any news during that time.
Data for 5 Top TSX Stocks articles is retrieved each Friday after market close 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Related reading:
5 Top Weekly TSX Stocks: Base Metals Up
5 Top Weekly TSX Stocks: Gold Stocks Up