5 Top Weekly TSX Stocks: Gold and Silver Stocks Up After Fed Meeting

- August 29th, 2021

Last week’s top-gaining stocks on the TSX were Moneta Gold, St Augustine Gold and Copper, Southgobi Resources, Great Panther Mining and New Pacific Metals.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed up on Friday (August 27), at 20,644.64.

The index hit another record closing high on the last trading day of the week as the US Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium pointed to no rush to tighten monetary policy.

On Friday, gold and silver also gained on the back of Powell’s comments, while the US dollar weakened.

 

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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.

Moneta Gold

Gold exploration company Moneta Gold, formerly Moneta Porcupine, is focussed on developing its flagship gold project, the multi-million ounce Tower gold project created by the combination of the adjacent Golden Highway and Garrison deposits.

On August 24, the company announced its name change and completion of consolidation of its issued and outstanding common shares. As a result, over the five-day period, Moneta Gold’s share price jumped 593.75 percent to end the week at C$2.22.

St Augustine Gold and Copper

St. Augustine is focused on the development of the King-king copper-gold project. King-king’s mineral reserve amounts to 617.9 million tonnes at 0.300 percent total copper and 0.395 gold per tonne gold. The company is currently completing a bankable feasibility study on the King-king project and published a preliminary feasibility study in November 2013.

St Augustine Gold and Copper did not release any news last week, but its share price increase 38.46 percent to C$0.09.

Southgobi Resources

Integrated coal supplier SouthGobi is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 km north of China-Mongolia border. The company also holds the mining and exploration licences of other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.

 

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Over the five-day period, the company’s share price jumped 33.33 percent to end the week at C$0.26.

Great Panther Mining

Great Panther is a gold and silver producer focused on the Americas. The company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, three exploration projects, and an advanced development project.

Great Panther did not release any news last week, but the company’s share price jumped 28.30 percent to end the week at C$0.68.

New Pacific Metals

New Pacific is an exploration and development company which owns the flagship Silver Sand project, located in the Potosi Department of Bolivia; the Silverstrike project, in the La Paz Department of Bolivia; and the Carangas project in the Oruro Department of Bolivia.

Last week, New Pacific saw its share price increase 26.32 percent to C$4.80.

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 process industries, energy minerals and non-energy minerals sectors are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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

 

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