Last week’s top-gaining stocks on the TSX were Questerre Energy, Transglobe Energy, Canarc Resource, Imperial Metals and New Millennium Iron.
Boosted by higher oil prices, optimistic Canadian jobs data for November and a decline in the unemployment rate, the index was near 10 month highs on Friday.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Questerre Energy (TSX:QEC)
- Transglobe Energy (TSX:TGL)
- Canarc Resource (TSX:CCM)
- Imperial Metals (TSX:III)
- New Millennium Iron (TSX:NML)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Questerre Energy
Questerre Energy is engaged in the acquisition, exploration and development of oil and gas projects, specifically non-conventional projects such as tight oil, oil shale, shale oil and shale gas. Questerre holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada, as well as in Jordan.
The company did not release any news last week, but during the five day period its share price jumped 57.69 percent to end at C$0.20.
2. Transglobe Energy
TransGlobe Energy is an oil and gas exploration and development company whose current activities are concentrated on Egypt and Canada.
Last Thursday (December 3), the company announced it will merge, expand and modernize its Eastern Desert concessions. Shares of Transglobe Energy increased 32.35 percent last week to end at C$0.90.
3. Canarc Resource
Canarc Resource is focused on discovering, exploring and developing strategic gold deposits in North America. The company is currently advancing two core assets, each with substantial gold resources, and has initiated a high-impact exploration strategy to acquire and explore new properties that have district-scale gold discovery potential.
Despite not releasing news last week, shares of the company increased 30.77 percent to end the five day period at C$0.17.
4. Imperial Metals
Vancouver-based Imperial Metals is an exploration, mine development and operating company. The company, through its subsidiaries, owns a 30 percent interest in the Red Chris mine and a 100 percent interest in both the Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 45.3 percent interest in the Ruddock Creek lead–zinc property.
The company did not release any news last week, but its share price jumped 27.54 percent to end the period at C$4.40.
5. New Millennium Iron
New Millennium Iron is a development company with an extensive property position in Canada’s main iron ore district, the Labrador Trough, which straddles Newfoundland and Labrador and Québec.
The company is in a strategic partnership with Tata Steel, a global steel producer. Tata Steel owns approximately 26.2 percent of the company and is its largest shareholder. Despite not releasing any news last week, New Millennium saw its share price go up by 23.21 percent to reach C$0.34.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.