5 Top Weekly TSX Stocks: Gold Stocks Lead the Way

The S&P/TSX Composite Index (INDEXTSI:OSPTX) started the day lower on Friday morning (November 23), opening 84.87 points lower than the previous day at 15,006.71.

Plunging oil prices, which hit an all-year low, weighed heavily on the energy sector causing it to drop by 4.2 percent. The precious and base metals sectors fared slightly better than the energy market, both down roughly 2.8 percent.

Canada’s largest exchange continued to fall over the morning. The TSX sat at 14,909.11 at 1:30 p.m. EST.

Last week’s top TSX stocks include four gold-focused explorers and a copper mining company. The five TSX-listed mining stocks that saw the biggest gains were as follows:

• Eastmain Resources (TSX:ER)
• Monarques Gold (TSX:MQR)
• Alio Gold (TSX:ALO)
• Centerra Gold (TSX:CG)
• Coro Mining (TSX:COP)

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

Eastmain Resources

Precious metals explorer Eastmain Resources is a gold exploration company with assets in Québec. Eastmain’s main focus is the exploration of the Eastmain/Opinaca areas of central James Bay, Québec. In total, Eastmain is exploring and developing approximately 109,000 hectares in the mining district.

The company did not release any news last week. Shares of Eastmain were up 28.21 percent, trading at C$0.250.

Monarques Gold

Monarques Gold is an emerging gold miner with a large portfolio of gold projects in the Abitibi mining camp area of Quebec. Monarques currently owns roughly 300 km² of gold properties, including the Wasamac deposit, the Beaufor mine, the Croinor Gold, McKenzie Break and Swanson advanced projects, as well as the Camflo and Beacon mills.

Monarques did not make any announcements last week. However, on November 15, the gold company graduated to the TSX from the TSXV and began trading its stock.

“Graduation to the TSX is an important milestone for Monarques, as it will allow us to expand our shareholder base to a larger pool of institutional investors,” Jean-Marc Lacoste, president and CEO, said in the press release.

Monarques stock was up 17.39 percent on Friday, to C$0.270.

Alio Gold

Focused on developing its projects in the US and Mexico, Alio is a gold exploration, development and production company. Currently Alio is working to develop its San Francisco, Ana Paula and Florida Canyon sites.

Alio made no announcements last week. Company shares ticked up 11.36 percent, trading at C$0.98.

Centerra Gold

Canadian-based Centerra is a gold mining and exploration company engaged in the operation, exploration, development and acquisition of gold projects in North America, Asia and other global locales. Centerra has two flagship assets, the Mount Milligan mine located in Canada, and the Kumtor mine, which is in the Kyrgyz Republic.

Centerra also released no news last week, however the weak market drawn down by the energy sector provided fertile ground for gold investors. Company stock was up 10.93 percent, trading at C$5.58.

Coro Mining

Base metals explorer Coro Mining is a Canadian company currently exploring Chile and working to advance its Marimaca project in the same country. According to the company: “Marimaca has the potential to be one of the most interesting copper-oxide discoveries in recent years.”

Coro mining made no announcements last week. Share were up 10 percent for the week, trading at C$0.055.

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.