The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- 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
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- 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
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Rare Earth Investing
5 Top Weekly TSX Performers: NioCorp Gains on Elk Creek's Rare Earths Potential
May. 29, 2022 07:45PM PST
Last week's top-gaining stocks on the TSX were Platinum Group Metals, NioCorp, Journey Energy, Forsys Metals and Pieridae Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,631 early last Friday (May 27) morning.
The index was on track for its best week in more than two months following the release of the US Federal Reserve's May meeting minutes earlier in the week, and ultimately closed higher at 20,752.46. The minutes eased fears of higher interest rate hikes, confirming 50 basis point increases in June and July.
"It's all flowed through from the (Federal Open Market Committee) minutes," said Giles Coghlan, chief currency analyst at HYCM. "Investors were relieved there wasn't a 75 basis points hint."
Commodities prices rose on Friday while the US dollar weakened, with gold and silver on track for weekly gains.
Last week, a number of companies saw their share prices increase. The five TSX-listed mining and energy stocks that saw the biggest gains are as follows:
- Platinum Group Metals (TSX:PTM)
- NioCorp (TSX:NB)
- Journey Energy (TSX:JOY)
- Forsys Metals (TSX:FSY)
- Pieridae Energy (TSX:PEA)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Platinum Group Metals
Platinum Group Metals operates the South Africa-based Waterberg project, a bulk underground palladium-platinum-gold-rhodium deposit. The company also founded Lion Battery Technologies with Anglo American Platinum (OTC Pink:AGPPF,JSE:AMS); its goal is to support the use of palladium and platinum in lithium batteries.
Supply chain disruptions in Russia and South Africa, the top platinum- and palladium-producing countries, have been supporting higher prices for those metals. Last week, the rose 41.67 percent to hit C$2.55.
2. NioCorp
NioCorp is developing its Nebraska-based Elk Creek project, which it says is the only niobium-scandium-titanium project in North America. It is also looking at the possibility of producing rare earths at the asset.
On May 18, the company published an updated feasibility study that shows Elk Creek is the second largest indicated-or-better rare earths resource in the US; it sits only behind the Mountain Pass deposit held by MP Materials. During the five day period, NioCorp’s share price jumped 24.21 percent to end at C$1.18.
3. Journey Energy
Journey Energy is focused on oil-weighted operations in Western Canada's Sedimentary Basin. Its strategy includes boosting its production base through activities like drilling, and optimizing legacy oil pools on its existing land.
Despite not releasing any news last week, shares of the explorer and producer increased 22.51 percent, and were trading at C$7.13 by the end of the period.
4. Forsys Metals
Forsys Metals is focused on developing uranium projects on the African continent. Currently, the explorer owns the Norasa project, which includes the fully permitted Valencia uranium project, and it is also developing the Namibplaas uranium project. Both projects are located in Namibia.
During the five day period, the company’s share price jumped 19.57 percent to end the week at C$0.55.
5. Pieridae Energy
Founded in 2011, Pieridae Energy is focused on exploring for and extracting natural gas; it also has midstream infrastructure and integration opportunities in liquefied natural gas exports. The Calgary-based company's highest-producing assets are in the southern and central foothills of Alberta’s Rocky Mountains, and between all of its assets it produces around 40,000 barrels of oil equivalent per day.
Last week, shares of Pieridae Energy increased 19.47 percent to trade at C$1.35.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View's stock screener. Only companies with a market capitalization greater than C$50 million prior to the week’s gains are included. Companies within process industries, energy minerals and non-energy minerals sectors 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 Rare Earth Reserves by Country | INN ›
- Top 3 Canadian Rare Earths Stocks of 2022 ›
- Rare Earths Outlook 2022: REE Magnet Prices to Remain High | INN ›
Related Articles Around the Web
https://www.linkedin.com/in/priscilabarrera/
pbarrera@investingnews.com
The Beginner’s Guide to Investing in Critical Metals
Ready to invest in critical metals? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Critical Metals Sector
Your Newsletter Preferences
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.
Latest News
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.