5 Top Weekly TSX Stocks: Corvus Gold Surges on Drill Results

- March 25th, 2018

Last week’s other top-gaining mining stocks on the TSX were First Mining Gold, eCobalt Solutions, Mawson Resources and Royal Nickel.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was down last week, declining 2.49 percent to close the five-day period at 15,330.91.

The index edged up in early trade on Friday (March 23) despite steep losses the previous session on the back of trade war fears.

On Friday, the gold price was up, spurred on by US President Donald Trump’s anti-China tariffs and the US Federal Reserve’s interest hike announcement. Silver and copper also inched up.

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Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The five top gainers are as follows:

  • Corvus Gold (TSX:KOR)
  • First Mining Gold (TSX:FF)
  • eCobalt Solutions (TSX:ECS)
  • Mawson Resources (TSX:MAW)
  • Royal Nickel (TSX:RNX)

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

Corvus Gold

Corvus controls 100 percent of its North Bullfrog project in Southern Nevada. The asset includes numerous prospective gold targets at various stages of exploration. On March 22, Corvus released drill results from two holes at its Mother Lode project.

Shares of Corvus gained 18.07 percent last week to reach C$1.62.

First Mining Gold

First Mining Gold is development company with a diversified portfolio of gold projects in North America. The company currently holds a portfolio of 25 mineral assets in Canada, Mexico and the US. Shares of First Mining Gold increased 15.66 percent to close last week at C$0.48.

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eCobalt Solutions

eCobalt Solutions is focused on providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly and transparently in the US. eCobalt’s primary asset is its Idaho cobalt project, located in Lemhi County, Idaho. Over the five-day period, eCobalt saw a share price spike of 15.37 percent to close at C$1.65.

Mawson Resources

Mawson Resources is an exploration and development company focused on its flagship Rompas and Rajapalot gold projects in Finland. On March 23, the company provided an update on drill movements at Rajapalot. Mawson’s share price jumped 8.6 percent to close the five-day period at C$0.53.

Royal Nickel

Last but not least is Royal Nickel, whose share price saw an increase of 5.88 percent to close the five-day period at C$0.27.

Royal Nickel is a multi-asset precious and base metals mining company. The company’s principal assets are the producing Beta Hunt gold-nickel mine in Western Australia, the Dumont nickel-cobalt project in the Abitibi mining camp in Quebec and a 30-percent stake in the producing Reed mine in the Flin Flon-Snow Lake region of Manitoba. On March 22, the company provided an update on its strategy to advance the Dumont project.

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Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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