5 Top Weekly TSX Stocks: Tahoe Jumps After Escobal Mining License Decision

Last week's other top-gaining stocks on the TSX were Katanga Mining, Largo Resources, Lithium Americas and Nemaska Lithium.

tsx stocks

The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week up at 15,175.99 points, a gain of 1.27 percent.

Gold prices ended the week down, pulling back from a one-year high touched on September 8. Silver prices dropped as well, as did base metals prices. That said, copper rebounded on Friday after losing more than 7 percent since September 5.

Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases last week. Two lithium stocks made the list, as did companies focused on other commodities. The five biggest gainers were:

Here’s a look at those companies and the factors that moved their share prices last week.

Katanga Mining

Katanga Mining operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo through two joint ventures. The joint ventures are called Kamoto Copper Company and DRC Copper and Cobalt Project. The company did not release any news last week, but its share price spiked 26.92 percent to close the five-day period at $0.99.

Largo Resources

Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide at its Vanadio de Maracas Menchen mine. Largo also has interests in a portfolio of other projects, including the Currais Novos tungsten tailings project, the Campo Alegre de Lourdes iron-vanadium project and the Northern Dancer tungsten-molybdenum property.

The company’s latest news came on September 5, when it announced a production record of 888 tonnes of vanadium pentoxide in August. Last week, its share price gained 22.22 percent to reach $1.21.

Lithium Americas

Lithium Americas, together with SQM (NYSE:SQM), is developing the Cauchari-Olaroz lithium project, located in Argentina, through its 50-percent interest in Minera Exar. In addition, Lithium Americas owns 100 percent of the Lithium Nevada project, as well as RheoMinerals, a supplier of rheology modifiers for oil-based drilling fluids, coatings and specialty chemicals.

Like Katanga, the company did not release any news last week, though it was included on Eight Capital’s list of lithium stocks to watch. Its share price jumped 20 percent to close the five-day period at $1.68.

Tahoe Resources

Tahoe Resources is focused on the exploration, development, operation and acquisition of precious metals properties in the Americas. On September 10, a Guatemalan court reinstated the company’s suspended mining license for Escobal, one of the world’s largest silver mines. Tahoe’s share price jumped 18.8 percent on the news to close the five-day period at $6.76. Click here to read more about the situation at Escobal.

Nemaska Lithium

Nemaska Lithium is focused on becoming a supplier to the lithium-ion battery market. The company’s wholly owned Whabouchi spodumene mine project is located in Quebec, and is estimated to be the second-richest and largest lithium deposit in the world.

The company’s share price rose 10.77 percent last week to end at $1.44. Nemaska did not release any news that would explain the gain, although like Lithium Americas it was included on Eight Capital’s list of lithium stocks to watch.

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

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

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

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