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Last week’s top-gaining mining stocks on the TSX were International Tower Hill, Rubicon Minerals, Alamos Gold, Belo Sun Mining and Alio Gold.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged higher on Friday (December 21) morning, rising 20.03 points from the previous day to reach 14,161.
Those early morning gains were soon erased as Canada’s main index dipped to 14,141.23 by 10:30 a.m. EST. Seven of the country’s main sectors were down, including the energy sector, which was weighed down by lower oil prices.
By midday, the TSX had dropped an additional 81.34 points and was at 14,072.09 as of 12:50 p.m. EST. It closed down 1.35 percent at a new 52-week low.
Last week’s top-rising TSX stocks are all gold-focused explorers, developers and producers. The five TSX-listed mining stocks that saw the biggest gains during the period are as follows:
- International Tower Hill Mines (TSX:ITH)
- Rubicon Minerals (TSX:RMX)
- Alamos Gold (TSX:AGI)
- Belo Sun Mining (TSX:BSX)
- Alio Gold (TSX:ALO)
Here’s a look at those companies and the factors that moved their share prices last week.
International Tower Hill Mines
Based in Alaska, International Tower Hill Mines is a gold company focused on developing its Livengold project, which it bills as the “largest North American gold-only deposit by reserves and resources not wholly owned by a major or producer.”
The company did not make any announcements last week, but its share price rose 22.22 percent to reach C$0.66. Its latest news came in November, when it released its Q3 financials.
Rubicon Minerals
Rubicon Minerals is a gold exploration company that owns the Phoenix gold project, located in the prolific Red Lake gold district in Northwestern Ontario.
Last Thursday (December 20), Rubicon announced the transfer of its C$12-million existing secured loan facility to Sprott Private Resource Lending. Its share price was up 19.66 percent for the week at C$1.40.
Alamos Gold
Alamos Gold is a gold producer with four mines in North America, including the Young-Davidson and Island gold mines in Northern Ontario, and the Mulatos and El Chanate mines in Mexico.
The company announced last Thursday that it has filed and received approval for a notice of intention to make a normal course issuer bid allowing it to purchase for cancellation up to 25,513,043 of its Class A common shares. The news sent the company’s share price up 18.59 percent to trade at C$4.72.
Belo Sun Mining
Belo Sun Mining is currently focused on developing its Volta Grande gold project in Brazil. The company did not release any news last week, but its share price ticked up 15.25 percent, hitting C$0.34.
Alio Gold
Alio Gold is a gold miner with assets in Mexico and the US. It operates the San Francisco mine in Mexico and the Florida Canyon mine in Nevada, and is developing the Mexico-based Ana Paula project.
Last week Alio did not release any news, but its share price rose 13.33 percent to reach C$1.02.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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