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Amerigo Resources was last week’s top-gaining stock, and it was followed by Nautilus Minerals, Marathon Gold, Avesoro Resources and Treasury Metals.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) made a recovery last week, rising 0.48 percent to close the five-day period at 15,608.5 points.
On Friday, Reuters reported that the index achieved its highest close in a week on stronger oil prices and the possibility of interest rates increasing. A number of TSX-listed mining stocks were also on the move last week, particularly in the base and precious metals sectors.
The five top gainers were:
- Amerigo Resources (TSX:ARG)
- Nautilus Minerals (TSX:NUS)
- Marathon Gold (TSX:MOZ)
- Avesoro Resources (TSX:ASO)
- Treasury Metals (TSX:TML)
Here’s a closer look at those companies and the factors that moved their share prices last week.
Amerigo Resources
Amerigo Resources owns the MVC operation in Chile, and has been producing copper concentrates for over 25 years. In 2016, MVC produced 57 million pounds of copper.
On February 22, the company released its 2016 and Q4 2016 financial results. Amerigo’s president and CEO, Rob Henderson, said in the release that the company plans to increase copper production at MVC. Last week, the company’s share price rose 42.86 percent to close the week at $0.80; there was no news pertaining to the increase.
Nautilus Minerals
Nautilus Minerals claims to be the first company to commercially explore the seafloor for massive sulfide systems, which are a potential source of high-grade copper, gold, zinc and silver. Its Solwara 1 copper-gold project is currently under development in the territorial waters of Papua New Guinea.
Last week, the company’s share price saw an increase of 36.11 percent to end the week at $0.245. Although the company did not release any news over the week, it recently delivered a $2-million finance notice to investors regarding a private placement of 16,221,118 shares.
Marathon Gold
Marathon Gold is currently focused on its flagship Valentine Lake property in Newfoundland. The company also has two exploration projects: the Baie Verte project, also in Newfoundland, and the Bonanza mine in Oregon.
On February 28, the company announced drill results from Valentine Lake, highlighting that the Marathon deposit has a much larger resource pit shell than previously indicated. The news helped Marathon Gold’s share price rise 16.84 percent to end the week at $1.11.
Avesoro Resources
Avesoro Resources is a gold producer in West Africa, and it bills its New Liberty gold mine as Liberia’s first commercial gold mine. The mine went into production in March 2016. Last week, Avesoro’s share price increased 12.5 percent to end the week at $0.045, although the company did not release any news.
Treasury Metals
Last but not least is Treasury Metals, whose share price increased 9.72 percent last week to end at $0.79.
Currently the company is focused on the Goliath gold project in Ontario. Treasury Metals plans to initially develop an open-pit gold mine and later turn to underground operations. On March 1, the company announced a development strategy to further advance the project.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday after market close 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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