5 Top TSX Stocks: Trevali Mining Soars Over 90 Percent

Last Friday, the S&P TSX Composite index (INDEXTSI:OSPTX) closed down 14.3 points, or 0.1 percent, at 13,964.36 points. However, for the week as a whole it gained 5 percent. 
According to Reuters, the index was boosted in part by the news that 12,100 new Canadian jobs were added in September, above projections of 10,000. While that’s positive, the news outlet also notes that the unemployment rate rose from 7 percent to 7.1
The top gainer on the TSX last week was Trevali Mining (TSX:TV), and it was followed by First Quantum Minerals (TSX:FM,LSE:FSM), Copper Mountain Mining (TSX:CUM), SouthGobi Resources (TSX:SGQ,HKEX:1878) and Teck Resources (TSX:TCK.B,NYSE:TCK). Here’s what moved those companies’ share prices last week.

Trevali Mining

Zinc-focused base metals miner Trevali Mining was the top gainer on the TSX last week by a long shot, soaring 91.3 percent to end the week at $0.66.
The company’s share price gained modestly on Thursday after it released preliminary Q3 production results from its Santander mine. According to Trevali, the Peru-based mine put out about 14.6 million payable pounds of zinc, 7.6 million payable pounds of lead and 282,108 payable ounces of silver during the period.
However, the real price action for Trevali came Friday. It and other zinc-focused companies saw major share price gains following Glencore’s (LSE:GLEN) announcement that it will be reducing its annual zinc output by 500,000 tonnes. While the zinc price has been down in the dumps lately due to oversupply, the news has renewed hopes of a supply crunch.

First Quantum Minerals

Last week saw First Quantum Minerals gain 65.01 percent to close the week at $8.63. The company, which produces copper, nickel, gold, zinc and PGMs, released two pieces of news during the period.
First, the company finalized the terms of a replacement precious metals stream agreement for its Cobre Panama project. The agreement is with a Franco-Nevada (TSX:FNV,NYSE:FNV) subsidiary, and it will see the subsidiary provide a $1-billion deposit against future deliveries of gold and silver from the project.
Next, First Quantum responded to the current low price environment with an update on “key developments and actions.” It outlines the actions the company is taking to maximize “profitability and cash flow from [its] mining operations.”

Copper Mountain Mining

Copper Mountain Mining saw its share price rise 57.14 percent last week to close at $0.66. The company announced during the period that its flagship 75-percent-owned Copper Mountain mine achieved record throughput during Q3 2015. Throughput reached 37,400 tonnes per day, and all in all the British Columbia-based mine put out 20.4 million pounds of copper.
Jim O’Rourke, president and CEO of Copper Mountain, commented, “[m]anagement are fully focused on operational improvements and cost savings to ensure we are successful in addressing current global conditions. Adaptive mine plans for 2016 are being optimized to further strengthen our operating base and ensure our long-term success.”

SouthGobi Resources

Last week’s news from coal-focused SouthGobi Resources was a little less positive than that of the other companies on this list — on Monday, it confirmed that its TSX delisting review has been pushed out to October 28; it had originally been set to take place a month earlier.
The extension was given in order to allow SouthGobi to execute a number of financing initiatives that it has in the works. Though the company is not out of the woods yet, investors took well to the news, and SouthGobi’s share price rose 45.16 percent to close at $0.45.

Teck Resources

Finally, Teck Resources’ share price rose 42.88 percent last week to end at $0.63. Like First Quantum, it also announced news about a streaming agreement with a Franco-Nevada subsidiary. The agreement is regarding production from the Antamina mine; Teck holds a 22.5-percent stake in the company that owns and operates that mine.
On a different note, Teck is the third-largest mined zinc producer in the world, and was also likely boosted by Glencore’s announcement.
 
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.
Editorial Disclosure: Trevali Mining is a client of the Investing News Network. This article is not paid-for content. 
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