Precious Metals

solgold share price

Last week’s top-gaining mining stocks on the TSX were Titan Mining, Pieridae Energy, Western Copper and Gold, Solgold and Skeena Resources.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was on the rise last week, opening the shortened four day period at 19,621.27 and finishing at 19,855.62.

It was a record-breaking week for the index, which is now not far from the 20,000 mark. Its gains were driven largely by strength in the healthcare and commodities sectors.

“It will be quite interesting if it can breach that psychological barrier in the near term,” said Kevin Headland, senior investment strategist at Manulife Investment Management.

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

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

1. Titan Mining

Titan Mining is a zinc producer that mines the metal at its Empire State property in the state of New York. The company also has an option to earn a 100 percent interest in the Mineral Ridge gold asset in Nevada.

Aside from filing various documents on SEDAR, company hasn’t released any news since February, but its share price jumped 37.21 percent last week to close at C$0.59.

2. Pieridae Energy

Pieridae Energy has honed its efforts on the development of integrated energy-related activities. It describes itself as bringing clean-burning Canadian liquefied natural gas to world markets.

The company shared two pieces of news last week. First, on Thursday (May 27), Pieridae announced the creation of the Caroline carbon capture power complex, which will be located at its Alberta-based Caroline facility. The operation will combine large-scale carbon capture and sequestration and blue power production. Then, on Friday (May 28), Pieridae announced voting results from its annual and special shareholder meeting. Its share price rose 29.23 percent during the period to hit C$0.42.

3. Western Copper and Gold

Western Copper and Gold is focused on developing its Casino copper-gold project, located in the Yukon. The company recently acquired the Canadian Creek project, which is adjacent to both Casino and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Coffee project.

The latest news from Western Copper and Gold came in mid-May, when it announced a C$25.6 million strategic investment from Rio Tinto Canada to advance Casino. Its share price increased 27.64 percent last week to end at C$3.14.

4. Solgold

Ecuador-focused Solgold has 76 concessions covering approximately 3,100 square kilometers in the country. It is exploring the length and breadth of a gold-rich section of the Andean copper belt.

There was a slew of news from the exploration company last week. On Monday (May 24), Solgold provided drill results from the Tandayama-America copper-gold target, which is located about 3 kilometers from the Cascabel project’s Alpala deposit. Then, on Thursday (May 27), it shared an update on an environmental, social and governance initiative that it is collaborating on with the Lita and Carolina communities and Franco-Nevada (TSX:FNV,NYSE:FNV).

On Friday, Solgold provided a corporate governance update and announcement the retirement of its company secretary. The company’s share price ended the week up 18.73 percent at C$0.58.

5. Skeena Resources

Skeena Resources is exploring and developing the past-producing Eskay Creek gold mine in BC’s Golden Triangle. The company is also exploring the past-producing Snip gold mine.

Last Tuesday (May 25), Skeena released drill results from its Albino waste facility investigation at Eskay Creek. The company provided data from the first four of eight holes, with highlights including 4.16 grams per tonne gold and 204 grams per tonne silver (6.89 grams per tonne gold equivalent) over 22.8 meters in hole SK-21-843. Skeena’s share price rose 10.17 percent on the news to close last week at C$3.90.

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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Western Copper and Gold is a client of the Investing News Network. This article is not paid-for content.


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