5 Top Weekly TSX Stocks: Gold Miners Lead The Way

- March 31st, 2019

The top five movers on the Toronto Stock Exchange last week were GoGold, Auryn, Questerre, First Quantum and Goldcorp.

Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was down by 53.4 points last Friday (March 29), falling 0.33 percent to 16,102.09.

In world news, attention was turned on the US, where the Mueller report was delivered, and the UK, where Brexit was not.

Moving on to commodities, gold declined approximately 1.5 percent, falling below US$1,300 per ounce as the US dollar strengthened, while base metals all appeared to have a small rally.

 

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Here are the top five gainers for the week on the TSX:

  • GoGold Resources (TSX:GGD)
  • Auryn Resources (TSX:AUG)
  • Questerre Energy (TSX:QEC)
  • First Quantum Minerals (TSX:FM)
  • Goldcorp (TSX:G)

Read on to see what each company has been up to lately.

GoGold Resources

Gold- and silver-producer GoGold Resources has properties and interests in Mexico, including the Parral tailings project in Chihuahua state, which has 21.3 million tonnes of tailings left over from 230 years of mining.

Last week, GoGold released the results of its annual general meeting, where its directors were all re-elected. The company also announced plans to consolidate 29 concessions in Mexico into one large-scale exploration project called Los Ricos.

On the TSX last Friday, GoGold was trading at C$0.35, up 34.62 percent over the course of the week.

Auryn Resources

Junior explorer Auryn Resources has a portfolio of seven projects, including flagship projects Committee Bay in Nunavut and Sombrero in Peru, which are gold and copper-gold projects respectively.

The company put out two releases last week, the closure of a private placement and a new high-level appointment, but had no fresh news on developments at its projects.

In Toronto, Auryn was trading up by 16.77 percent on the TSX last week, reaching C$1.95 by Friday.

Questerre Energy

Canadian oil and gas company Questerre has interests across the US, Canada and in Jordan.

Earlier this month, the company announced an increase in its reserves by 60 percent, with the company saying that “corporate proved and probable reserves grew by 63 percent or 11.5 million barrels of oil equivalent (MMBoe) to 29.96 MMBoe.”

 

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The increase comes mostly from its Canadian assets.

On the TSX last week, the company’s shares were up by 12.09 percent to C$0.51.

First Quantum Minerals

First Quantum has a fresh new giant copper project humming away into production in its Cobre Panama project in Panama.

The new project is the only major copper project that’s come online in 2019. Last week, First Quantum released an updated technical report that provides more details on its planned expansion to 100 million tonnes of copper per year.

On the TSX, First Quantum was up by 7.48 percent to C$15.16 by Friday.

Goldcorp

Goldcorp made an appearance on this list last week with a 5.65 percent jump in value to C$15.33.

The jump was likely because the company and its merger partner-to-be Newmont Mining (NYSE:NEM) announced a successful early tender period in the process to combine the two giant gold-focused companies.

Goldcorp had previously been in the news this month when a strike at its Cerro Negro mine halted operations there. Cerro Negro is Goldcorp’s largest operation.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s 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.

Don’t forget to follow us @INN_Resource for real-time updates!

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

 

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