The Conversation (0)
Last week’s top-gaining stocks on the TSX were Avino Silver and Gold, Torc Oil and Gas, Excellon Resources, Golden Minerals and INV Metals.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) declined slightly last Friday (May 22), sinking 27.78 points to reach 14,857.07.
The index opened lower on Friday, weighed down by energy stocks, which slipped on the back of declining oil prices, as well as by rising tensions between the US and China.
In commodities, gold was trading at around US$1,730 per ounce on Friday, with silver breaking the US$17 per ounce level to trade at US$17.22.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Avino Silver and Gold (TSX:ASM)
- Torc Oil and Gas (TSX:TOG)
- Excellon Resources (TSX:EXN)
- Golden Minerals (TSX:AUMN)
- INV Metals (TSX:INV)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Avino Silver and Gold
Avino Silver and Gold is a silver and gold producer with gold, silver and base metals properties in Mexico. Avino produces from its wholly owned Avino mine near Durango, Mexico.
The latest news from the company came on May 6, when it reported Q1 results. In mid-May, Mexico deemed mining an essential activity, which could have also helped Avino’s share price increase. Last week, the company’s share price jumped 73.21 percent to end the week at C$0.97.
2. Torc Oil and Gas
Energy-focused company Torc Oil and Gas has light oil operations in Southeast Saskatchewan, cardium development in Central Alberta and exposure to the light oil Torquay/Three Forks resource play in Southeast Saskatchewan.
The company did not release any news last week, but Torc’s share price increased 51.98 percent over the five day period to close at C$1.54.
3. Excellon Resources
Excellon Resources owns the silver-producing Platosa mine in Mexico. It also holds an option on the Silver City project in Germany and is exploring the Evolucion property in Mexico.
Excellon Resources did not release news last week, but silver prices were on an uptrend for most of the period. The company saw its share price increase 50.98 percent last week to C$0.77.
4. Golden Minerals
Golden Minerals is primarily focused on advancing its Rodeo and Velardeña properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina. It is also interested in acquiring and advancing mining properties in Mexico and Nevada.
On May 8, the company completed a preliminary economic assessment for its Velardeña properties; Golden Minerals filed the report on May 15. Last week, Golden Minerals saw its share price go up by 48.39 percent to reach C$0.46.
5. INV Metals
INV Metals is focused on the acquisition, exploration and development of precious and base metals projects in Ecuador. INV holds a 100 percent interest in the Loma Larga gold exploration and development property in the country, and 100 percent interests in exploration concessions in Ecuador, including Tierras Coloradas, La Rebuscada and Carolina .
On May 13, the company published its Q1 results, posting a loss of $3.33 million. Last week, shares of INV increased 43.1 percent to end at C$0.41.
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.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
