5 Top TSX Stocks: Rubicon Minerals Gains 32.35 Percent

Last week, the S&P TSX Composite index (INDEXTSI:OSPTX) closed at 13,075.42 points for an eighth consecutive day of losses. According to Bloomberg, that’s its longest losing streak since 2002. 
Nevertheless, some TSX-listed companies did see gains last week. The top gainer was Rubicon Minerals (TSX:RMX,NYSEMKT:RBY), and it was followed by Continental Gold (TSX:CNL,OTCQX:CGOOF), China Gold International Resources (TSX:CGG,HKEX:2099), Timmins Gold (TSX:TMM,NYSEMKT:TGD) and Tahoe Resources (TSX:THO,NYSE:TAHO). Here’s what moved their share prices during the period.

Rubicon Minerals

Rubicon Minerals was the top gainer on the TSX last week, rising 32.35 percent to close at $0.23. It filed its Q3 financial statements last week.
However, it’s worth putting that increase in context — the company’s share price took a steep drop at the start of November when it announced plans to suspend underground activities at its Ontario-based Phoenix gold project. As of close of day Friday, Rubicon’s share price was down just over 60 percent from where it was at the end of October.

Continental Gold

Continental Gold is focused on its Colombia-based Buritica gold project, and last week saw its share price rise by 20.61 percent, to $1.58. The company has not released any news since early November, when it provided updated environmental permitting guidance for Buritica. CEO Ari Sussman said he is confident that permitting will be successfully completed next year.

China Gold International Resources

Canada-based China Gold International Resources operates two mines in China: the CSH gold mine and the Jiama copper-polymetallic mine. China National Gold, the largest gold producer in China, is the company’s largest shareholder at 39 percent.
Last week, China Gold’s share price rose 17.32 percent to hit $2.10. During that time, the company released its financial and operational results for the third quarter of 2015, reporting consolidated revenues of US$99.9 million, up 12 percent from the year-ago period. CSH produced 57,981 ounces of gold, while Jiama put out 8.7 million pounds of copper.

Timmins Gold

Timmins Gold owns and operates the Mexico-based San Francisco open-pit, heap leach gold mine and is developing the Ana Paula and Caballo Blanco projects, also in Mexico.
The company’s share price rose 14.29 percent last week to reach $0.24 after it announced the results of a recent drill program at Ana Paula. The program had three goals: to confirm previous drilling, to obtain metallurgical samples and to carry out select infill drilling. According to the company, confirmation drill results were consistent with previous programs, while infill drill results were “very encouraging.”

Tahoe Resources

Finally, Tahoe Resources saw its share price rise 12.91 percent last week to reach $11.28. The company, which operates the Guatemala-based Escobal silver mine, as well as the La Arena gold mine in Peru, released its Q3 financial results during the period, reporting net earnings of $13.3 million, or $0.06 per share. Escobal produced 5.8 million ounces of silver, while La Arena put out 57,415 ounces of gold.
The company is also developing the Peru-based Shahuindo project.
 
Data for TSX Top 5 articles is retrieved each Friday after market close. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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