TSX Top 5: MagIndustries in the Lead After News of Potential Investment

Last week was a good one for the S&P/TSX Composite index (INDEXTSI:OSPTX), which rose Friday for the fifth session in a row. It was boosted by data pointing to “solid economic growth in Europe and an unexpectedly strong performance by Canadian manufacturers,” as per The Canadian Press.

Here’s a look at five TSX-listed companies that performed well last week. MagIndustries (TSX:MAA) took the top spot, closely followed by Polaris Materials (TSX:PLS), Aureus Mining (TSX:AUE), Nautilus Minerals (TSX:NUS) and Copper Mountain Mining (TSX:CUM).

MagIndustries

MagIndustries enjoyed a 9.52-percent increase last week, closing at $0.23. The company recently signed a confidentiality agreement with an unnamed party to explore potential investment in MagIndustries. However, there is no certainty that discussions regarding the investment will continue.

MagIndustries’ principal asset is its 1.2-million-tonne-per-year Mengo potash project in the Republic of Congo.

Polaris Materials

Polaris Materials produces high-quality sand and gravel in British Columbia for shipments to major urban markets. The company saw an 8.33-percent increase last week to reach $2.60 on the TSX. Polaris Materials recently announced a new shipment record, sending out 3.45 million tons of material last year, a 4-percent increase from 2013. The company made use of 54 shipping vessels in 2014, a jump from the 46 it utilized the year before.

This growth came despite fourth-quarter weather issues, which prevented the company from reaching full capabilities. Because of this, Polaris Materials anticipates a strong year in shipping materials for 2015.

Aureus Mining 

Aureus Mining rose 7.32 percent last week to close at $0.38. The company recently arranged a $15.3-million equity financing for the New Liberty optimized mine plan. The project should produce an additional 28,000 ounces of gold in its first year of production through a starter pit; it’s expected to bring the company’s total first-year target production to 122,000 ounces of gold.

“The funds to be raised through the Offering and the Subscription will allow the company to push forward with the new optimized mining plan, which is more in line with the current gold price environment and achieves significant additional and accretive benefits to all our shareholders and stakeholders through earlier cash flow generation, a lower cost profile and improved operational efficiencies,” said David Reading, president and CEO of Aureus Mining.

Nautilus Minerals

Nautilus Minerals is the first company to explore the ocean floor for polymetallic seafloor massive sulfide deposits. It was also the first to be granted a mining lease for such deposits in the territorial waters of Papua New Guinea. The company increased by 5.88 percent to close at $0.45 last week.

The company recently announced the placement of orders for engines and thruster packages for its new production support vessel.

“We are excited to see the first order being placed for this high specification machinery as we work towards the completion of our first vessel,” said Mike Johnston, chief operating officer of Nautilus.

Copper Mountain Mining

Copper Mountain Mining was included in the top five gainers on the TSX for its second week in a row. The company increased 3.23 percent, closing at $1.28. It recently announced that it produced 81 million pounds of copper, 22,600 ounces of gold and 443,700 ounces of silver in 2014.

Copper Mountain Mining’s main focus is the Copper Mountain mine in British Columbia. While the project is dedicated to the removal of current resources, there is still a great deal of ongoing exploration as well.

Data for TSX Top 5 articles is retrieved each Friday and reported on Monday. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included.

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TSX Top 5: Copper Mountain Mining Takes Top Spot