- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
5 Top Weekly TSX Stocks: Oil and Gas Stocks Lead the Way Up
Last week's top-gaining stocks on the TSX were Kelt Exploration, Mountain Province Diamonds, Advantage Energy, Canacol Energy and Pieridae Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged up last Friday (May 19), opening at 20,297.09.
However, it was on track for another weekly loss as worries over inflation and commodities prices hit the stock market. The index ultimately finished at 20,346.79, down 0.4 percent from where it started the period.
Gold dropped below the US$2,000 per ounce level last week, with sister metal silver hovering around US$23 per ounce.
"I'm reasonably confident that the gold price will make a new high (in 2023), and it's because there's more investors than ever participating in the gold market," Peter Grosskopf of SCP Resource Finance told the Investing News Network.
"And as well it's climbed a wall of worry with higher rates, a higher US dollar. And yet gold continues to gain against other currencies and in US dollar pricing. I think that at some point there's going to be a shock to the system — there's going to be some kind of correction somewhere that easily drives it to new highs," he explained.
Against that backdrop, some junior mining and energy companies saw their stock prices go up last week. Here’s a look at those companies and the factors that brought them momentum during that time.
1. Kelt Exploration (TSX:KEL)
Leading this week’s top TSX stocks list is Kelt Exploration, a Calgary-based oil and gas company focused on the exploration, development and production of crude oil and natural gas resources in Western Canada.
Last Monday (May 15), the company temporarily shut down production of approximately 5,000 barrels of oil equivalent per day as a result of wildfires in BC. Kelt shared the news of the halt on Tuesday (May 16), and said it is ready to restart production as soon as it is safe to do so. Shares of Kelt Exploration increased 9.96 percent last week to end at C$5.52.
2. Mountain Province Diamonds (TSX:MPVD)
Mountain Province Diamonds holds an interest in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is being developed by a joint venture between the company and De Beers, owned by Anglo American (LSE:AAL,OTCQX:AAUKF). The company also controls more than 113,000 hectares of highly prospective mineral claims and leases surrounding Gahcho Kué.
Last week, Mountain Province did not release any news, but its share price increased 8.51 percent to end at C$0.51.
3. Advantage Energy (TSX:AAV)
Another oil and gas company making the list is Advantage Energy, which is focused on developing its position in the Montney natural gas and liquids resource play in Western Canada. Despite not releasing any news last week, shares of the company increased 7.91 percent to end the five day period at C$7.78.
4. Canacol Energy (TSX:CNE)
Canacol Energy is a natural gas exploration and production company with operations focused in Colombia. The company currently supplies approximately 20 percent of the country’s gas needs and more than 50 percent of the Caribbean coast’s gas demand.
Last week, shares of Canacol Energy increased 7.5 percent to end at C$11.04.
5. Pieridae Energy (TSX:PEA)
Last but not least this week is Pieridae Energy, a Calgary-based upstream and midstream producer with assets concentrated in the Canadian Foothills, where it produces conventional natural gas, natural gas liquids, condensate and sulfur.
Last week, shares of Pieridae Energy increased 7.41 percent to close the period C$0.58.
Data for 5 Top Weekly TSX Performers articles is retrieved each Thursday after market close 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.
Outlook Reports
Featured Oil and Gas Investing Stocks
Browse Companies
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2352.62 | +13.73 | |
Silver | 28.15 | +0.27 | |
Copper | 4.30 | +0.01 | |
Oil | 85.30 | +0.07 | |
Heating Oil | 2.68 | 0.00 | |
Natural Gas | 1.89 | +0.01 |
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â
Priscila is originally from Buenos Aires, Argentina, where she earned a BA in Communications at Universidad de San Andres. She moved to Vancouver for the first time in 2010 and fell in love with the city. A few years after she went to London, UK, to study a MA in Journalism at Kingston University and came back in 2016. She enjoys reading, drinking coffee and travelling.
Learn about our editorial policies.