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Canada’s main exchange was lifted higher on Friday (June 29), boosted by higher oil prices and a strengthening loonie.
Canada’s main stock index, the S&P/TSX Composite Index (INDEXTSI:OSPTX), opened higher on Friday (June 29), gaining 80.08 points or 0.49 percent, to 16,289.79 at open.
The boost was a result of rising oil prices and a stronger dollar, backed by an uptick in energy stocks, which gained 1.1 percent. The financial sector, which finally broke a 13-day losing period, was also up, 1.61 percent.
According to Reuters, the positive performance may also be attributed to data that showed the Canadian economy grew by 0.01 percent in April. A modest gain, but still higher than a poll published by the news organization in March, which estimated zero growth.
Last week’s top-performing TSX stocks included three precious metals miners, a base metals company, and one energy-industrial metal focused company. The five TSX-listed mining stocks that saw the biggest share price gains were:
- Corvus Gold (TSX:KOR)
- Red Eagle Mining (TSX:R)
- Energy Fuels (TSX:EFR)
- Lead FX (TSX:LFX)
- Perseus Mining (TSX:PRU)
Here’s a look at those companies and the factors that moved their share prices last week.
Corvus Gold
Corvus is a gold-focused junior exploration and development company. Currently Corvus is working towards the advancement of its wholly-owned North Bullfrog project in Nevada. Corvus shares experienced the greatest growth last week, climbing 16.29 percent to close at C$2.57.
Corvus did not publish any company news during the period.
Red Eagle Mining
Red Eagle Mining is a gold producer focused on acquiring, developing and operating gold and silver projects in Colombia. Presently, Red Eagle owns 100 percent of the Santa Rosa gold, Vetas gold, California gold and Santa Ana silver projects. Red Eagle stock was up 12.12 percent, ending the week at C$0.185.
Red Eagle did not release any company news last week, however Q2 financials should be released in the coming weeks.
Energy Fuels
Energy Fuels is a US-based uranium miner currently focused on its three projects in Utah, Wyoming and Texas. The company also has ongoing vanadium projects. Energy Fuels shares gained 7.66 percent, and sat at C$2.95 at close on Friday (June 29).
Energy Fuels released two press releases last week. On Monday (June 25), the company announced it would be added to the Russell 300 Index. Later in the week, Energy Fuels reported it would be advancing its vanadium activities due to a strengthened cash position.
LeadFX
LeadFX is an Australia-based mineral resources company, focused on re-starting its wholly-owned Paroo Station lead mine in Western Australia. LeadFX shares experienced a slight uptick of 2.44 percent, ending the week at C$0.84.
The company did not release any news or announcements last week.
Perseus Mining
Perseus Mining is a West Africa-focused gold production, development and exploration company. Perseus has a number of ongoing projects, and its most valuable to date has been the Edikan gold mine in Ghana, which produces approximately 200,000 ounces of gold annually.
Perseus made no announcements or news releases during the period.
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.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.
