5 Top Weekly TSX Stocks: First Mining Gold Takes the Lead

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened 124.84 points higher on Friday (January 4) at 14,337.59, driven by the energy sector which saw growth due to higher oil prices.

Collectively, energy stocks were up 2.3 percent, however the sector was outperformed by health care stocks, including cannabis companies, which were up 2.7 percent. The tech sector was also up more than 2 percent.

The positive movement continued when the December unemployment numbers were released by Stats Canada, indicating the number had remained the same, a record low 5.6 percent. Canada’s largest exchange sat at 14,423.95 at 1:15 p.m. EST.

Last week’s top TSX stocks include two energy companies, one gold firm, a silver producer and a diversified miner. The five TSX-listed mining stocks that saw the biggest gains are as follows:

• First Mining Gold (TSX:FF)
• Obsidian Energy (TSX:OBE)
• Excellon Resources (TSX:EXN)
• Western Copper and Gold (TSX:WRN)
• Questerre Energy (TSX:QEC)

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

First Mining Gold

First Mining Gold is an emerging precious metals company with a diversified portfolio of gold projects in North America. Currently, First Mining possesses a portfolio of 24 mineral assets across Canada, Mexico and the United States. Presently, the company is focused on advancing its assets in eastern Canada.

The company has not released any news since late December when it announced the new appointment of CEO Daniel Wilton, effective January 7, 2019. Company shares were up 57.14 percent last week, to C$0.385.

Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of Alberta-based assets producing approximately 30,000 boe per day.

The last announcement Obsidian Energy released was an operations update in December.

“Obsidian Energy is pleased to report that our second half 2018 Cardium program is proceeding ahead of schedule and under budget,” noted the update. “We now expect to have 10 wells on production prior to the end of 2018, up from five wells in our original plan.”

Stock in Obsidian was up 46.39 percent, to C$0.71.

Excellon Resources

Silver producer Excellon is the sole owner of the Platosa mine in Durango, considered to be Mexico’s highest-grade silver mine since production commenced in 2005, according to the company. Currently, Excellon is focused on optimizing and advancing the Platosa mine’s cost and production profile, through the discovery of additional high-grade silver and carbonate replacement deposits.

In early November, Excellon released its Q3 results, with the following CEO statement. “It was a tough quarter that is not representative of the many operational improvements made at Platosa in recent quarters,” stated Brendan Cahill, president and CEO. “In addition to lower production, financial results were impacted by lower by-product prices and associated provisional price adjustments, which have affected the whole market.”

Excellon shares were up 45.59 percent, trading at C$0.99.

Western Copper and Gold

Diversified explorer Western Copper and Gold holds significant gold, copper and molybdenum resources and reserves in its Casino project located in the Yukon. According to the company, Casino contains 8.9 million ounces of gold, 4.5 billion pounds of copper, 483 million pounds of molybdenum and 65 million ounces of silver in proven and probable reserves.

Last month, Western released an update on its Casino project, which highlighted the progress and work done at the Yukon-based site.

Stock in Western grew by 42.11 percent last week, to C$0.81.

Questerre

Energy company Questerre is currently engaged in the acquisition, exploration, and development of oil and gas projects, in specific non-conventional projects. The company owns a list of international assets in Alberta, Saskatchewan, Manitoba, Quebec and the Kingdom of Jordan.

Questerre made no company announcements last week. Company stock went up by 36.17 percent, trading at C$0.32.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.

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

Editorial Disclosure: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.