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Last week’s other top-gaining mining stocks on the TSX were Oryx Petroleum, Avesoro Resources, INV Metals and Almaden Minerals.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened 40.4 points lower on Friday (January 11) at 14,863.09, after it hit a more than one-month high on Thursday (January 10).
Six of the top 11 sectors were all lower, led by the energy sector, which dropped by 1 percent.
By midday, Canada’s largest index had recovered ground lost in the morning thanks to a 4.4-percent bump in healthcare stocks. Aurora Cannabis’ (NYSE:ACB,TSX:ACB) share price grew by 8.4 percent, the largest gain in the sector. The index sat at 14,946.93 as of 2:40 p.m. EST on Friday.
Last week’s top-rising TSX stocks include one energy producer, three gold companies and a diversified explorer. The five TSX-listed mining stocks that saw the biggest gains are as follows:
- Oryx Petroleum (TSX:OXC)
- New Gold (TSX:NGD)
- Avesoro Resources (TSX:ASO)
- INV Metals (TSX:INV)
- Almaden Minerals (TSX:AMM)
Here’s a look at those companies and the factors that moved their share prices last week.
Oryx Petroleum
Oryx Petroleum is an international oil company established in 2010. It has a number of assets, projects and wells in the Kurdistan region of Iraq, the Democratic Republic of Congo and Senegal.
Oryx has not released any news since it posted its Q3 2018 financial and operational results and 2019 capital budget overview in mid-November. Its share price ended up 21.05 percent last week at C$0.23.
New Gold
New Gold is a Canada-focused intermediate gold-mining company. Currently it has two core producing assets: the Rainy River and New Afton mines. New Gold also operates the Cerro San Pedro mine in Mexico, which was transitioned to residual leaching in 2016.
Last Tuesday (January 8), New Gold released its Q4 2018 results, highlighting record production from the Rainy River mine; total quarterly output was 110,559 ounces. New Gold’s share price grew by 19.17 percent to trade at C$1.43.
Avesoro Resources
With a focus on exploration, development and production in West Africa, Avesoro is a mid-tier gold miner. It currently has projects in various stages of development in Liberia, Cameroon and Burkina Faso.
Avesoro did not release any news last week, but its share price rose 17.39 percent to reach C$2.70.
INV Metals
International mineral resource company INV Metals is a focused on the acquisition, exploration and development of precious and base metals projects in Ecuador. Currently INV’s primary asset is the Loma Larga gold property in the country.
While INV made no announcements last week its share price was up 15.73 percent at C$0.73.
Almaden Minerals
Precious metals miner Almaden Minerals is the sole owner of the Tuligtic project in Mexico, which includes the Ixtaca gold-silver deposit. According to the company, Ixtaca hosts a proven and probable reserve of 1.29 million ounces of gold and 78.8 million ounces of silver.
Almaden did not release any announcements during the period. Its share price bumped up 15.79 percent last week to C$1.10.
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, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
