Last week’s other top TSX-listed mining stocks were Crescent Point Energy, Surge Energy, Baytex Energy and Auryn Resources.
Despite those headwinds, a number of resource companies enjoyed share price gains. The top gaining mining stocks on the TSX last week are as follows:
- Lydian International (TSX:LYD)
- Crescent Point Energy (TSX:CPG)
- Surge Energy (TSX:SGY)
- Baytex Energy (TSX:BTE)
- Auryn Resources (TSX:AUG)
Here’s a look at what moved their share prices last week.
Lydian International’s primary asset is its Armenia-based Amulsar gold project, whose output is pegged at 225,000 ounces a year over a decade-long life. The company also holds the Kela property in Georgia.
Amulsar is currently under construction, but the company has not been able to access the site since June 2018 due to blockades set up by protesters. However, on April 12, Armenia’s administrative court ruled that the protesters and their equipment be removed by the police.
No action has been taken so far, but Lydian’s share price shot up 56.52 percent last week to close at C$0.18. It was sitting at C$0.35 the day news about the protesters was announced last June.
Crescent Point Energy
On April 11, the company announced that two new independent nominees would stand for election to its board of directors. Its share price rose 27.03 percent to end at C$5.64.
Oil and gas company Surge Energy has four properties across Alberta and Saskatchewan. It produced 21,047 barrels of oil equivalent per day in 2018. The company’s latest news came in mid-March, when it announced that it would pay a cash dividend for the month of March on April 15.
Surge didn’t release any news last week, but its share price rose 21.48 percent to reach C$1.64.
North American oil and gas producer Baytex Energy is focused on Western Canada’s Sedimentary Basin and the Eagle Ford in the US. About 38 percent of the company’s production comes from the Eagle Ford, and last year its production clocked in at 80,458 barrels of oil equivalent per day.
Baytex Energy’s share price rose 21.34 percent last week to finish at C$2.90. It did not put out any news during the period.
Auryn Resources’ two flagship assets are its Committee Bay gold project in Nunavut and its Peru-based Sombrero copper-gold project. It also has a number of other properties in both Canada and Peru.
The company’s share price increased 19.27 percent last week to reach C$2.29, although it did not release any news. Its latest announcement came in early April, when it provided drill results from Sombrero.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.