Last week’s top-gaining stocks stocks on the TSX were TMAC Resources, Tahoe Resources, Dalradian Resources, U3O8 and Corvus Gold.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) rose last Friday (November 17), increasing 0.4 percent to close at 15,988.57 points.
However, according to Reuters, the index was down overall for the week. Prior to last week it had advanced for nine weeks in a row, which is “a feat not seen since late 1996.”
On Friday, the gold price inched up due to a weaker US dollar; silver was also up and on track for a weekly gain. Base metals were down for the week, but nickel and copper edged higher that day.
Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increase last week. The five top gainers are as follows:
- TMAC Resources (TSX:TMR)
- Tahoe Resources (TSX:THO)
- Dalradian Resources (TSX:DNA)
- U3O8 (TSX:UWE)
- Corvus Gold (TSX:KOR)
Here’s a look at those companies and the factors that moved their share prices last week.
TMAC Resources is an emerging gold producer with a focus on exploration, development and mining at the Hope Bay Greenstone Belt in the Kitikmeot region of Nunavut.
The company’s latest news came on November 9, when it announced its operating and financial results for the third quarter of 2017. Last week, TMAC’s share price gained 9.49 percent to reach $8.42.
Tahoe Resources is focused on the exploration, development, operation and acquisition of precious metals properties in the Americas. Its flagship asset is the Escobal silver mine in Guatemala. Last week, Tahoe’s share price increased 8.32 percent to close at $5.99; it did not release any news during the period that would explain the gain.
Middle of the pack is Dalradian Resources, whose share price saw an increase of 8.21 percent last week to close at $1.45. Dalradian is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt gold project in Northern Ireland. Its most recent news came on November 10, when it published its Q3 results.
U3O8 is focused on uranium and by-product commodities that are used in the clean energy industry — vanadium, nickel and phosphate in the industrial battery space, and rare earths in the high-efficiency electric motor and generator industries. The company has projects in Colombia, Argentina and Guyana.
On November 16, the company provided an update on its Laguna Salada uranium-vanadium deposit. The news sent U3O8’s share price up 3.53 percent to close the five-day period at $0.30.
Last but not least is Corvus Gold, whose share price rose 2.4 percent to end last week at $1.28.
Corvus’ key asset is the North Bullfrog project in Southern Nevada. The project includes numerous prospective gold targets at various stages of exploration. On November 7, the company announced drilling results for its Mother Lode 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.