The Conversation (0)
Top Weekly TSX Stocks: Verde Agritech Up 28 Percent on Carbon Credit News
Jul. 30, 2023 07:45PM PST
Last week's top-gaining stocks on the TSX were Verde Agritech, Northern Dynasty, Condor Energies, Excelsior Mining and Forza Petroleum.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) closed down last Friday (July 28) at 20,520.71.
The index's biggest decline came on Thursday (July 27), when it sank as low as 20,387.89. On Wednesday (July 26), the US Federal Reserve increased interest rates by a quarter point, sending them to their highest level in 22 years.
Gold rose above US$1,970 per ounce following the news, but was hovering around US$1,955 by the time markets closed on Friday. Silver also fell sharply on Friday and ended the five day trading period at about US$24.25 per ounce.
Despite these price swings, some resource juniors listed on the TSX saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.
1. Verde Agritech (TSX:NPK)
Leading this week’s top TSX stocks list is Verde Agritech, whose share price rose 28.46 percent to end the week at C$3.34. The company is developing its Cerrado Verde project in Brazil, and says it is the source of a potassium-rich deposit from which it intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.
Last Thursday, Verde Agritech said it is in advanced negotiations to sell carbon credits to major international corporations that are established purchasers of permanent carbon offsets.
2. Northern Dynasty Minerals (TSX:NDM)
Northern Dynasty Minerals is focused on developing the Pebble project in Alaska, where, according to the company, one of the world’s largest undeveloped copper-gold-molybdenum-silver resources is located.
On Wednesday, the company announced that the State of Alaska has filed a motion in the US Supreme Court, arguing that the US Environmental Protection Agency’s veto of the Pebble project breaches a contract involving Alaska and the US. Northern Dynasty also says that it violates the federal statutory recognition and implementation of that land exchange.
Following the news, shares of Northern Dynasty increased 25.37 percent to end the week at C$0.42.
3. Condor Energies (TSX:CDR)
Condor Energies is an internationally focused energy company with producing gas assets, an ongoing initiative to construct and operate Central Asia’s first liquefied natural gas facility and another initiative focused on gas field redevelopment.
The company did not release any news last week, but its share price jumped 24.17 percent to finish at C$1.49.
4. Excelsior Mining (TSX:MIN)
Excelsior Mining is a copper-producing company that owns and operates the Gunnison copper project in Cochise County, Arizona.
Shares of Excelsior Mining rose 15.22 percent last week to hit C$0.26, although the company didn't release fresh news.
5. Forza Petroleum (TSX:FORZ)
Last but not least this week is Forza Petroleum, an international oil exploration, development and production company. Forza Petroleum has a 65 percent participating interest in and operates the Hawler license area in Iraq's Kurdistan region.
Last Tuesday (July 25), the company published its Q2 financial and operational results. Shares of Forza Petroleum increased 8.33 percent on the news to end the five day period at C$0.13.
Data for 5 Top Weekly TSX Performers articles is retrieved each Friday 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.
From Your Site Articles
- Top 10 Potash Countries by Production (Updated 2023) ›
- 5 TSX- and TSXV-Listed Potash Companies ›
- How to Invest in Potash (Updated 2023) ›
Related Articles Around the Web
https://www.linkedin.com/in/priscilabarrera/
pbarrera@investingnews.com
