5 Top Weekly TSX Stocks: Kirkland Lake Up on Production Outlook

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher on Friday (December 7), up 50.63 points, to 14,987.63.

By midday, the index lost early gains despite a surge in oil prices and a strong jobs report, which eased concerns about an economic slowdown. The TSX was down 9.45 points to 14,927.55 at 11:45 a.m. EST.

Last week’s top TSX stocks include four precious metals companies and an oil and gas explorer. The five TSX-listed mining stocks that saw the biggest gains are as follows:

• Agnico Eagle Mines (TSX:AEM)
• Kirkland Lake Gold (TSX:KL)
• Alamos Gold (TSX:AGI)
• Yangarra Resources (TSX:YGR)
• Torex Gold (TSX:TGX)

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

Agnico Eagle Mines

Canadian gold mining company Agnico Eagle has produced precious metals since 1957. The company has mines in Canada, Finland and Mexico, with exploration and development activities in each of these countries as well as in the US and Sweden.

The last company news came in October, when it released results for the third quarter, increasing production guidance for 2018 and 2019. Shares of Agnico Eagle were up 13.31 percent, trading at C$52.75 by the end of the five-day period.

Kirkland Lake Gold

Kirkland Lake Gold is a mid-tier gold producer with 2018 production targeted at over 670,000 ounces of gold from mines in Canada and Australia. The company has two high-grade, low-cost operations, including the Macassa Mine located in Northeastern Ontario and the Fosterville Mine located in Victoria, Australia.

On November 30, the company announced a production outlook increase this year at its Fosterville Mine to over 330,000 ounces, up from 300,000 to 310,000 ounces. 

Over the five-day period, shares of Kirkland Lake Gold were up 12.82 percent, trading at C$31.08 on Friday.

Alamos Gold

Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States.

The company hasn’t released any news recently, but Alamos’ share price increased 11.01 percent during the week, trading at C$4.71 by the end of the five-day period.

Yangarra Resources

Yangarra Resources is a junior oil and gas company engaged in the exploration, development and production of natural gas and oil with operations in Western Canada, with a main focus on Central Alberta, where the company has extensive infrastructure and land holdings.

Shares of Yangarra Resources were up 10.85 percent, trading at C$2.84 on Friday.

Torex Gold

Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100-percent owned Morelos gold property.

The most recent company news came on November 20, when Torex announced exploration results from its in-fill and step-out drilling programs in the Sub-Sill zone of its El Limon Guajes underground mine in Southwest Mexico.

Over the five-day period, shares of Torex Gold increased 10.83 percent, trading at C$11.63 by the end of the week.

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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.