5 Top Weekly TSX Stocks: Monarch Gold Surges on Yamana Deal

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed up last Friday (November 6) at 16,282.91.

The index received a boost from data showing an increase in jobs in Canada in October, with the country’s unemployment rate dipping to 8.9 percent.

In commodities, gold was on track to post its best week in three months; silver was also up on Friday as the world continued to await US election results. Meanwhile, copper was on track to hit a two year high.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• Excellon Resources (TSX:EXN)
• Loncor Resources (TSX:LN)
• Orla Mining (TSX:OLA)
• Endeavour Silver (TSX:EDR)
• Monarch Gold (TSX:MQR)

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

1. Excellon Resources

Excellon Resources owns the silver-producing Platosa mine in Mexico and the Kilgore gold development project in the US. It also holds an option on the Silver City project in Germany and is exploring the Evolucion property in Mexico.

During the five day period, the company’s share price jumped 31.67 percent to end the week at C$3.95.

2. Loncor Resources

Canadian gold exploration company Loncor Resources is focused on the Ngayu greenstone belt in the Democratic Republic of Congo. The company has a joint venture agreement with Barrick Gold (NYSE:GOLD,TSX:ABX), which is managing and funding exploration at the Ngayu project until the completion of a prefeasibility study on any gold discovery that meets its investment criteria.

The company did not release any news last week, but shares increased 31.25 percent to end at C$0.84.

3. Orla Mining

Orla Mining is developing the Camino Rojo oxide gold project, an advanced gold-silver open-pit and heap leach project in Mexico. The project is 100 percent owned by Orla and covers over 160,000 hectares.

Last Monday (November 2), Orla announced the completion of a second tranche drawdown of US$50 million on its project finance facility; the funds will go towards the development of Camino Rojo. Shares of the company increased 31.1 percent to end the five day period at C$7.04.

4. Endeavour Silver

Mid-tier producer Endeavour Silver owns and operates three underground silver-gold mines in Mexico. The current focus of Endeavour’s efforts is the Terronera mine. The company also holds a portfolio of exploration and development projects in Mexico and Chile.

Endeavour released its financial report for the third quarter last Thursday (November 5). Last week, the company’s share price jumped 29.86 percent to end the period at C$2.08.

5. Monarch Gold

Monarch Gold is focused on projects in the Abitibi mining camp in Quebec, Canada. The company owns several gold properties, including the Wasamac deposit; the Beaufor, Croinor and McKenzie Break advanced projects; the Camflo and Swanson exploration projects; and the Camflo and Beacon mills.

Last Monday, Yamana Gold (TSX:YRI,NYSE:AUY) signed a deal to buy Monarch for C$152 million. As a result, the company saw its share price go up by 29.55 percent to reach C$0.57.

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.