Last week’s top-gaining stocks on the TSX were Silver Bull Resources, Obsidian Energy, Mandalay Resources, Gatos Silver and UEX.
The index was supported by energy stocks, which were boosted by higher oil prices and positive economic data. Looking over to precious metals, the gold price eased on Friday on the back of a steady US dollar, while its sister metal silver edged up to $28.17 per ounce.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Silver Bull Resources (TSX:SVB)
- Obsidian Energy (TSX:OBE)
- Mandalay Resources (TSX:MND)
- Gatos Silver (TSX:GATO)
- UEX (TSX:UEX)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Silver Bull Resources
Exploration company Silver Bull Resources is exploring and developing the Sierra Mojada project, located in Coahuila, Mexico. The asset is part of a large land package consisting of 20 mining concessions, and is situated in a historical high-grade silver-, lead– and zinc-mining district discovered in 1879.
Last week, the company saw its share price increase 27.83 percent to C$1.47.
2. Obsidian Energy
Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.
Last Tuesday (June 8), the company announced that it expects to start its development program for the second half of 2021 two weeks earlier than anticipated; it will consist of 23 wells. Obsidian Energy’s share price jumped 24.71 percent last week to end at C$3.23.
3. Mandalay Resources
Mandalay Resources has producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The company is focused on growing production of gold and antimony at its Costerfield operation in Australia, and gold production from its Björkdal asset in Sweden.
Last Tuesday, Mandalay Resources extended the newly discovered Shepherd zone at Costerfield and provided an update on the Costerfield mineral system. Over the five day period, the company’s share price jumped 22.15 percent to end the week at C$3.64.
4. Gatos Silver
Gatos Silver is a silver-dominant exploration, development and production company that has discovered a new silver- and zinc-rich mineral district in Mexico. To date, 14 zones of mineralization have been defined within the district and all are characterized by silver-zinc-lead epithermal mineralization.
Despite not releasing any news last week, Gatos Silver rose 20.68 percent to hit C$23.46.
UEX has made progress in the discovery and development of existing and new uranium and cobalt deposits in Saskatchewan’s Athabasca Basin. The company has four flagship projects: the West Bear project, the Christie Lake property, the Horseshoe and Raven deposits and the Shea Creek property.
Last week, shares of UEX increased 18.52 percent to end the period at C$0.48.
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.