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The top gainers on the TSX last week were PolyMet Mining, Jaguar Mining, Corridor Resources, Star Diamond and Prophecy Development.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed last Friday (January 10) down 1.08 points at 17,243.49. Despite the decrease, that’s still well ahead of where it was the same time the previous week, when it closed at 17,066.12.
Attention was firmly fixed on the Middle East last week as Canada reacted to the news that 63 of its citizens were killed in the accidental shooting down of Ukraine International Airlines Flight 752, with tensions in the region making oil and gold jump in value on the stock markets.
Meanwhile, it’s always election season in America, and investors are reportedly wary of what voters may pull out of the hat in November 2020. Investment strategists are opining that stock markets could suffer volatility as the pre-election period goes on.
Looking at resources and energy stocks on the TSX, here are the top five gainers last week:
- PolyMet Mining (TSX:POM)
- Jaguar Mining (TSX:JAG)
- Corridor Resources (TSX:CGH)
- Star Diamond (TSX:DIAM)
- Prophecy Development (TSX:PCY)
Read on to find out what’s been making news with these companies lately.
PolyMet Mining
PolyMet Mining is a Minnesota-focused company that is currently developing its NorthMet copper–nickel project. It’s knocking at the door of construction, with the final federal permit to construct the mine issued in late March of last year.
The most recent news from the company was corporate, however, with a new mining executive joining the board of directors last week.
On the TSX last week, PolyMet Mining was trading at C$0.55, an increase of 66.67 percent over the previous week of trading.
Jaguar Mining
Jaguar Mining bills itself as a gold exploration, development and production company with assets in the prolific mining state of Minas Gerais in Brazil.
Last Wednesday (January 8), the company announced on SEDAR that billionaire Canadian investor Eric Sprott has invested in the company to the tune of 39,020,500 common shares at $0.18 per share for total consideration of $7,023,690. Sprott is already a significant investor in the company, and the latest investment brings his share of the company up to 48.9 percent.
By the end of last week, Jaguar was trading at C$0.26 after jumping by 30.77 percent over the previous five days of trading.
Corridor Resources
Junior oil and gas exploration company Corridor Resources is focused on development and production in New Brunswick and the Gulf of St. Lawrence in Canada. The company has natural gas-producing assets.
The company’s last release was from November 2019, when it shared its Q3 results and posted its production and guidance figures for 2019/2020.
Shares of Corridor Resources had risen in value by 22.22 percent by Friday last week to reach C$0.88.
Star Diamond
Star Diamond is a Saskatchewan-based and -focused diamond company with its key asset — the Star-Orion South diamond project — located in the central region of the province. Star-Orion South is 100 percent controlled by Star Diamond.
Back in November, the company posted big news more than once, first announcing on SEDAR its third quarter results on November 7. Then, on November 15, Rio Tinto Exploration Canada provided notice that it would be exercising all four options under a joint venture agreement with Star that the two companies entered into by back in 2017. The most recent news from the company was in early December, when it announced the closing of a private placement.
Star Diamond was at C$0.50 by last Friday after increasing in value by 21.95 percent over the week.
Prophecy Development
Prophecy Development is a Canadian company currently focused on developing the Pulacayo silver project in Bolivia.
Its most recent news was a set of achievements and objectives released last week. The company was trading at C$0.46 by last Friday after an increase of 21.33 percent over the week.
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 basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
