5 Top Weekly TSX Stocks: Silver Miners Get a Boost

- August 11th, 2019

The top gainers on the TSX last week were Jaguar Mining, Silver Bear Resources, Lydian International, Americas Silver and Asanko Gold.

Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was down by 63.22 points, or 0.39 percent, at the end of last week, falling to 16,341.31.

News around the world was recession heavy, with the trade war copping the blame.

On the commodities front, iron ore prices plunged below US$100 per tonne, while gold has continued its journey up and away. Though the white metal has yet to make any significant moves, experts anticipate that it could be next.

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The top gainers on the TSX last week followed that same theme, with investors piling into companies with gold and silver assets. Here are the top five gainers on the exchange:

  • Jaguar Mining (TSX:JAG)
  • Silver Bear Resources (TSX:SBR)
  • Lydian International (TSX:LYD)
  • Americas Silver (TSX:USA)
  • Asanko Gold (TSX:AKG)

Read on to find out what each company has been up to recently.

Jaguar Mining

Jaguar Mining bills itself as a gold exploration, development and production company with assets in the prolific mining state of Minas Gerais in Brazil.

In mid-July, the company announced the full repayment of a US$7.85 million secured bridge facility thanks to the proceeds of a US$25 million private placement. More recently, it announced the appointment of a new CEO and changes to its board.

The company was trading up by 44.44 percent last week at C$0.26.

Silver Bear Resources

Silver Bear Resources’ flagship project is its Mangazeisky silver project in Russia, which, in its first year of production in 2018, produced 594,921 ounces of silver.

The company’s latest news was the release of its shareholder meeting results in late June. However, there is investor interest in silver right now, given the rush on gold.

On the TSX last week, Silver Bear Resources was trading at C$0.245, up by 40 percent.

Lydian International

Lydian International is a gold developer with a primary focus on its 100 percent owned Amulsar gold project in Armenia. The company also has assets in neighboring Georgia.

The Colorado-based company had been denied access to its Amulsar project since mid-2018 due to blockades, but, on April 12, Lydian reported that a court in Armenia had ordered police to remove protestors and allow the company free access.

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In the time since, the company has reported continued trespassing and police inaction, and an ongoing environmental audit with results to be announced next week, according to an August 8 release.

The company was up by 35 percent last week, reaching C$0.135.

Americas Silver

Americas Silver is a precious metals-focused company, but so far mainly focuses on silver through its ownership of two silver complexes in the US and Mexico. It also expects to begin producing gold in Q4 2019 and has a third mine on the way in Nevada.

The company’s most recent news was its Q2 results on July 30, which detail production of 345,695 ounces of silver in the quarter — a 15 percent increase year-on-year.

On the TSX last week, Americas Silver was up by 33.87 percent, reaching C$5.02.

Asanko Gold

Asanko Gold has its eponymous flagship asset in Ghana in a joint venture with Gold Fields (JSE:GFI), though Asanko is the operator.

In its Q2 results, released on August 1, the company reported gold production of 62,067 ounces and said it is on track to meet its 2019 guidance.

Asanko was trading up by 25.47 percent last week, reaching C$1.33.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than C$50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

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

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