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5 Top Weekly TSX Performers: Gold Stocks Surge
Last week's top-gaining stocks on the TSX were Athabasca Oil, Orla Mining, Mountain Province Diamonds, Aris Gold and Marathon Gold.
The index edged up on the last day of the week supported by healthcare and tech stocks.
On Friday, gold paused a six-day rally with sister metal silver also falling as investors locked in gains.
Last week's five TSX-listed mining stocks that saw the biggest gains are as follows:
- Athabasca Oil (TSX:ATH)
- Orla Mining (TSX:OLA)
- Mountain Province Diamonds (TSX:MPVD)
- Aris Gold (TSX:ARIS)
- Marathon Gold (TSX:MOZ)
Here's a look at those companies and the factors that moved their share prices last week.
Alberta-based energy company Athabasca Oil is focused on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the company has a significant land base of extensive, high quality resources.
Last week, shares of Athabasca Oil increased 33.03 percent, trading at C$1.45 by the end of the week.
Orla is developing the Camino Rojo oxide gold project, an advanced gold and silver open-pit and heap leach project that is located in Zacatecas State, Central Mexico. The project is 100 percent owned by Orla and covers over 160,000 hectares.
Last week, Orla Mining shares of the company increased 30.48 percent, to end at C$5.48.
Mountain Province Diamonds
Mountain Province Diamonds holds an interest in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué, a joint venture between the company and De Beers, which is owned by Anglo American (LSE:AAL,OTCQX:AAUKF), is one of the world's largest new diamond mines.
On November 12, the company published its financial and operating results for the third quarter. Over the five-day period, shares of Mountain Province Diamonds increased 27.84 percent to end the week at C$0.62.
Aris Gold operates the Marmato mine in Colombia, where a modernization and expansion program is under way, and the Juby project, an advanced exploration stage gold project in the Abitibi greenstone belt of Ontario, Canada.
On November 11, the company announced that it plans to start the construction of the Marmato Lower mine and reported an increased mineral resource estimate. Last week, Aris Gold saw its share price increase 27.66 percent to C$1.80.
Toronto-based gold company Marathon Gold is advancing its 100 percent-owned Valentine gold project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.On November 10, the company released its third quarter results. Last week, shares of Marathon Gold increased 26.85 percent, trading at C$3.26 by the end of the week.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 11:00 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.
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