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Last week’s other top-gaining mining stocks on the TSX were Silver Bear Resources, International Tower Hill Mines, Dundee Precious Metals and Alio Gold.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher on Friday (October 12), up 134.77 points to 15,451.90. The 100 plus point gain, was a result of global equity markets rebounding after falling sharply early in the week.
Gains in the health care sector and cannabis space also benefited Canada’s largest stock exchange, as did positive performances in 9 other sectors.
The Canadian dollar also edged higher as oil and stock prices began to rebound from their five-day losing streak. The TSX was down almost 20 points, to 15,435.71 at 1:58 pm EST.
Last week’s top TSX stocks were all precious metals miners, with two focused on silver production, one gold explorer and one diversified miner specializing in gold and copper. The five TSX-listed mining stocks that saw the biggest gains were as follows:
- SSR Mining (TSX:SSRM)
- Silver Bear Resources (TSX:SBR)
- International Tower Hill Mines (TSX:ITH)
- Dundee Precious Metals (TSX:DPM)
- Alio Gold (TSX:ALO)
Here’s a look at those companies and the factors that moved their share prices last week.
SSR Mining
Vancouver-based mining company SSR Mining is focused on the operation, development, exploration and acquisition of precious metal projects. The company currently has three operations, the Marigold mine in Nevada, the Seabee gold operation in Saskatchewan and the 75-percent owned and operated Puna operations joint venture in Argentina.
The company did not release any news during the period. SSR Mining shares were up 18.61 last week to C$13.70.
Silver Bear Resources
Precious metals explorer Silver Bear Resources is focused on the development of its wholly-owned Mangazeisky silver project, which includes the high grade Vertikalny deposit located 400 km north of Yakutsk, Russia.
Silver Bear made no company announcements last week. Company shares were up 14.29 percent, trading at C$0.200.
International Tower Hill Mines
With offices in both Vancouver and Alaska, International Tower Hill Mines is focused on developing the Livengood gold project in Alaska.
International Tower has not released any news since its Q2 results in August. According to the release, the company had working capital of C$11.9 million at the end of June. Shares in the company were up 13.04 percent to C$0.78.
Dundee Precious Metals
Dundee Precious Metals is a Canada-based, international gold mining company currently invested in the acquisition, exploration, development, mining and processing of precious metals.
Last week, Dundee released its Q3 production results, which featured increased gold production. “We had another strong quarter at Chelopech and we achieved record quarterly smelter performance,” Rick Howes, president and CEO of Dundee, in the announcement. “We remain on budget with construction at our Krumovgrad gold project with hot commissioning on track to commence in the fourth quarter of 2018.”
Dundee’s share price climbed by 11.73 percent, ending the week at C$3.62.
Alio Gold
Alio Gold is a gold mining company currently engaged in exploration, development and production in Mexico and the US. Alio’s principal assets include its wholly-owned and operated San Francisco mine in Mexico, its 100 percent-owned Florida Canyon mine in Nevada and its wholly-owned development stage Ana Paula project in Guerrero, Mexico.
Alio also did not make any announcements or release company news during the period. Company shares grew by 11.58 percent, trading at C$1.06.
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.
