5 Top Weekly TSX Stocks: Alamos Gold Up on Quarterly Results

- November 1st, 2020

Last week’s top-gaining stocks on the TSX were Almaden Minerals, Alamos Gold, Condor Gold, Pine Cliff Energy and Champion Iron. 

The S&P/TSX Composite Index (INDEXTSI:OSPTX) trended down last week, closing at 15,591.53. 

The index was pushed lower on Friday (October 30) by energy stocks as an increase in coronavirus cases impacted investor sentiment. Gold and silver edged up that day as a US dollar rally stalled, while copper was on track for a weekly decline.

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

  • Almaden Minerals (TSX:AMM)
  • Alamos Gold (TSX:AGI)
  • Condor Gold (TSX:COG)
  • Pine Cliff Energy (TSX:PNE)
  • Champion Iron (TSX:CIA)

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

1. Almaden Minerals

Almaden Minerals owns 100 percent of the Tuligtic project in Puebla State, Mexico. Tuligtic covers the Ixtaca gold-silver deposit, which was discovered by Almaden in 2010. The Ixtaca deposit currently hosts proven and probable reserves of 65.1 million tonnes grading 0.62 grams per tonne gold and 37.7 grams per tonne silver, or 1.29 million ounces of gold and 78.8 million ounces of silver.

Last Tuesday (October 27), the company identified a new high-priority exploration target at Ixtaca. During the five day period, the company’s share price jumped 10.74 percent to end the week at C$1.34.

2. Alamos Gold

Alamos Gold is an intermediate gold producer with diversified production from three operating mines in North America. These include the Young-Davidson and Island gold mines in Northern Ontario, Canada, and the Mulatos mine in Sonora, Mexico. Additionally, the company has a significant portfolio of development-stage projects in Canada, Mexico, Turkey and the US.

Last Wednesday (October 28), the company released its third quarter results, showing record quarterly free cash flow of $76 million, driven by higher margins at all operations. Last week, shares of Alamos increased 8.14 percent to end at C$11.95.

3. Condor Gold

With a focus on Nicaragua, Condor Gold has properties in Central America. Its flagship project is La India.

The company said last Wednesday that it has started ground investigation drilling in preparation for mine construction at La India. During the five day period, shares of the company increased 8.11 percent to end at C$0.80.

4. Pine Cliff Energy

Pine Cliff Energy is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Since 2012, the company has completed nine acquisitions, building three major operating core areas: Central Assets, Edson Assets and Southern Assets.

Last week, the company’s share price jumped 7.41 percent to end at C$0.29.

5. Champion Iron

Champion Iron is an iron ore exploration and development company with several major projects in the Southern Labrador Trough, considered the largest iron ore-producing region in Canada. The company is currently developing eight iron-rich projects, including its flagship Bloom Lake.

Last Tuesday, the company released its quarterly results, posting revenues of $311 million for the reporting period. Shares of Champion Iron were up 6.53 percent last week to end at C$3.10.

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.

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

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