For the second week in a row, the S&P/TSX Composite Index (INDEXTSI:OSPTX) edged lower. It dropped 0.1 percent last week to end the five-day period at 15,490.49 points.
On Friday (March 17), Business News Network noted that although commodities prices for the most part moved upward during the week, many resource and financial companies saw share price drops. Those declines weighed on the index.
That said, there were some mining stocks that made gains last week. In particular, a number of companies focused on base and precious metals saw steady share price increases over the five-day period. The five top-gaining mining stocks on the TSX last week were:
- Amerigo Resources (TSX:ARG)
- Champion Iron (TSX:CIA)
- Alamos Gold (TSX:AGI)
- Auryn Resources (TSX:AUG)
- Alacer Gold (TSX:ASR)
Here’s a closer look at those companies and what moved their share prices last week.
Last week’s biggest gainer on the TSX was Amerigo Resources, which bills itself as a long-term copper producer in Chile. The company produces copper concentrate at its MVC operation in the country, and it put out 57 million pounds of copper in 2016.
Most recently, Amerigo Resources released its 2016 and Q4 2016 financial results. It did not release any news last week, but nevertheless saw an impressive 21.31-percent share price spike. It closed the week at $0.74.
Next on the list is Champion Iron, an iron ore exploration company with properties in the Labrador Trough. The company owns a 100-percent interest in Fermont Iron Holdings, which holds eight iron ore-rich projects.
Last week, Champion Iron acquired 735 iron ore railcars for its Bloom Lake mine. The news sent the company’s share price up 16.48 percent to close the week at $1.06.
In the middle of the pack is Alamos Gold, a gold producer with three operating mines, including the Young-Davidson mine in Ontario and the Mulatos and El Chanate mines in Mexico. The company also has six development projects scattered across North America and Europe.
Last week, Alamos Gold’s share price increased 15.48 percent to end the five-day period at $10.89. The company did not release any news that would explain the share price bump.
Auryn Resources’ share price gained 15.07 percent last week to close at $3.13, though it also did not release any news that would explain that gain.
The company is focused on high-grade gold deposits in a variety of jurisdictions in Nunavut and BC, but has a number of projects in Peru as well. Its most recent news came on February 24, when it provided an exploration update for its Sombrero skarn-porphyry-gold-copper oxide project in Peru.
Rounding out the list is Alacer Gold, which has an 80-percent interest in the Copler gold mine in Turkey. The company also has a number of other exploration projects in Turkey through joint ventures with its partner, Lidya Mining. Last week, Alacer Gold’s share price jumped 13.93 percent to end the period at $2.78
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.