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    gold investing

    5 Top Weekly TSX Stocks: INV Metals Surges on Acquisition Deal

    Priscila Barrera
    Jun. 06, 2021 07:45PM PST
    Precious Metals
    inv metals inc stock

    Last week’s top-gaining stocks on the TSX were INV Metals, Advantage Energy, Obsidian Energy, Crew Energy and Pieridae Energy.

    The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (June 4), trading at 20,021.98. It closed the week slightly higher at 20,031.87.

    The index was supported by energy and gold stocks, which rose as commodity prices gained.

    The gold price was steady on Friday, but on track for its worst weekly decline since March, with sister metal silver also pulling back to trade at around US$27 per ounce.

    Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

    • INV Metals (TSX:INV)
    • Advantage Energy (TSX:AAV)
    • Obsidian Energy (TSX:OBE)
    • Crew Energy (TSX:CR)
    • Pieridae Energy (TSX:PEA)

    Here’s a look at those companies and the factors that moved their share prices last week.

    1. INV Metals

    INV Metals is focused on the exploration and development of the Loma Larga gold project in Ecuador.

    Last Monday (May 31), Dundee Precious Metals (TSX:DPM,OTC Pink:DPMLF) announced plans to acquire all of the issued and outstanding shares of INV Metals that it does not currently own. The implied equity value of the transaction on a 100 percent and fully diluted basis is equal to approximately C$132 million, and C$104 million for the portion not owned by Dundee Precious Metals.

    As a result of the news, INV Metals saw its share price increase 63.04 percent to C$0.75.

    2. Advantage Energy

    Advantage Energy is focused entirely on development of its position in the Montney natural gas and liquids resource play.

    Last Wednesday (June 2), Entropy, a subsidiary of Advantage Energy, signed a memorandum of understanding with four separate emitting corporations to develop carbon capture and storage projects totaling approximately 1 million tonnes per annum. Advantage Energy saw its share price increase 37.01 percent last week to C$4.59.

    3. Obsidian Energy

    Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.

    Despite not releasing any news last week, Obsidian Energy’s share price jumped 30.15 percent to end the week at C$2.59.

    4. Crew Energy

    An oil and natural gas producer, Crew Energy’s activities are primarily focused in the Montney resource in Northeast BC, where it has a large, contiguous land base of approximately 277,000 net acres.

    The company did not release any news last week, but shares increased 26.32 percent to end at C$1.44.

    5. Pieridae Energy

    Pieridae Energy is focused on integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro liquefied natural gas (LNG) facility and the production of LNG for sale in Europe and other markets.

    Last week, shares of Pieridae Energy increased 21.25 percent to end at C$0.48.

    Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.

    Don’t forget to follow us @INN_Resource for real-time updates!

    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

    otc:aavvfotc:dpmlfotc:cwegfgold investingotc:obelf
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