5 Top Weekly TSX Performers: Positive Q1 Results Push Energy Stocks Up

Last week's top-gaining stocks on the TSX were Perpetual Energy, Pine Cliff, Valeura Energy, Augusta Gold and Crew Energy.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,696.17 early last Friday (May 6) morning. After several ups and downs during the day, it closed the period lower at 20,630.65.

At its latest meeting last Wednesday (May 4), the US Federal Reserve raised its benchmark rate by half a percentage point, the most in 22 years. But Chair Jerome Powell’s comments after the decision calmed fears that the central bank will raise rates too fast, sparking a rally in stocks.

Following Wednesday’s increase, the index saw its biggest drop in five months on Thursday (May 5), and fell again on Friday as investors remained cautious ahead of a US jobs report.

Gold stayed steady on Friday, but was on track for a third weekly loss, with silver, platinum and palladium falling on the last day of the trading week.

The five TSX-listed mining and energy stocks that saw the biggest share price gains last week are as follows:

Perpetual Energy (TSX:PMT)
Pine Cliff Energy (TSX:PNE)
Valeura Energy (TSX:VLE)
Augusta Gold (TSX:G)
Crew Energy (TSX:CR)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Perpetual Energy

Alberta-centric Perpetual Energy is focused on oil and gas production and exploration. Its assets in the province include liquids-rich conventional natural gas, heavy crude oil and shallow and undeveloped bitumen leases.

Last Wednesday, the company released its Q1 2022 results, with production growing 7 percent quarter-on-quarter and 16 percent year-on-year. Perpetual saw its share price increase 26.83 percent last week to reach C$1.04.

2. Pine Cliff Energy

Another energy-focused company, Pine Cliff Energy is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. It points to the longevity of its assets, along with its share value and income stream, as highlights for investors.

Pine Cliff Energy also released its Q1 results last week. During the first quarter of the year, the company’s production averaged 20,397 barrels of oil equivalent per day — 11 percent higher year-on-year. Last week, the company saw its share price increase 19.87 percent to C$1.87.

3. Valeura Energy

Also making the list this week is Valeura Energy, an upstream natural gas producer focused on appraising and developing an unconventional gas and condensate accumulation in Turkey's Thrace Basin.

The company did not release any news last week, but shares of Valeura Energy increased 19.59 percent and were trading at C$0.58 by the end of the week.

4. Augusta Gold

Explorer and developer Augusta Gold is focused on its Bullfrog gold project. The asset is located in the Bullfrog mining district, approximately 120 miles northwest of Las Vegas, Nevada, and 4 miles west of Beatty, Nevada.

Although it didn't release any news last week, the company’s share price jumped 19.5 percent during the five day period to end the week at C$1.90.

5. Crew Energy

An oil and natural gas producer, Crew Energy's activities are primarily focused in the Montney resource in Northeast BC. The company boasts a large, contiguous land base, and says that its Septimus and West Septimus areas are its main priority; it will aim to develop its Groundbirch area in the future.

Last Thursday, the company posted its results for the first quarter, reporting that average production in Q1 was 27 percent higher over Q1 2021 and up 15 percent quarter-on-quarter. Last week, shares of Crew Energy increased 16.93 percent to trade at C$5.94 by the end of the week.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday at 10:30 a.m. EST 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.

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Priscila Barrera

Managing Editor, Resource

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.

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