Uranium

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Last week's top-gaining stocks on the TSX were UEX, TRX Gold, Mandalay Resources, Jaguar Mining and Aya Gold and Silver.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 19,170.04 early last Friday (June 17) morning, but ultimately closed the period lower at 18,931.16.

Last week, the index fell to its lowest level in more than two years as concerns over a recession and interest rate hikes increased. Speaking with the Investing News Network at this year’s Prospectors and Developers Association of Canada convention, Brien Lundin, editor of Gold Newsletter, said a recession is likely.

“Right now you can buy solid companies with real resources, some with economics on them, some even in development,” he said when asked about potential opportunities in the market. “If the market just normalizes, those stocks will be trading at three to four times the levels they are today.”


Looking over to commodities, gold was trading just above US$1,850 per ounce early last Friday, while silver had also rebounded after falling ahead of the US Federal Reserve's meeting. On Wednesday (June 15), the central bank raised its benchmark interest rate by 0.75 percentage points — the largest hike since 1994.

Despite the market turmoil, a number of companies saw their share prices increase last week, with precious metals stocks dominating. The five TSX-listed mining stocks that saw the biggest gains are as follows:

  • UEX (TSX:UEX)
  • TRX Gold (TSX:TNX)
  • Mandalay Resources (TSX:MND)
  • Jaguar Mining (TSX:JAG)
  • Aya Gold and Silver (TSX:AYA)

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

1. UEX

UEX has its focus on uranium and cobalt deposits in Saskatchewan's Athabasca Basin. It has four flagship projects: the West Bear project, the Christie Lake property, the Horseshoe and Raven deposits and the Shea Creek property.

Last Monday (June 13), Texas-based Uranium Energy (NYSEAMERICAN:UEC) agreed to acquire UEX to double its uranium resources in one of North America’s largest mergers and acquisitions in the uranium space. As a result of the news, the company saw its share price increase 20.69 percent to hit C$0.35 by the end of the week.

2. TRX Gold

TRX Gold is advancing the Buckreef gold project in Tanzania, along with its joint venture partner STAMICO. The project is comprised of five prospects: Buckreef, Bingwa, Tembo, Eastern Porphyry and Buziba.

During the five day period, TRX Gold’s share price jumped 12.09 percent to end at C$0.51.

3. Mandalay Resources

Mandalay Resources has producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The company is focused on growing production at its gold-antimony Costerfield operation in Australia, and gold production from its Björkdal asset in Sweden.

No fresh news was released by Mandalay Resources last week, but its shares increased 8.93 percent to trade at C$3.17 by the end of the period.

4. Jaguar Mining

Jaguar Mining is a gold producer, developer and explorer with a large land package in Brazil. It includes three gold complexes: Turmalina, Caeté and Paciência, which has been on care and maintenance for the last decade. Caeté holds the Pilar and Roça Grande mines, the latter of which has been on temporary care and maintenance since April 2019. Last week, Jaguar Mining’s share price jumped 7.44 percent to end the period at C$3.32.

5. Aya Gold and Silver

Pure-play silver producer Aya Gold and Silver is focused on properties in Morocco. Its flagship project is the Zgounder silver mine, and its other main focus is its Mauritania-based Tijirit gold project.

Last week, shares of Aya Gold and Silver increased 7.16 percent to trade at C$7.78. On Thursday (June 16), the company filed an amended version of an expansion feasibility study for Zgounder on SEDAR.

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.

MARKETS

Markets
TSX19028.86+167.50
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ASX6539.90-28.20

COMMODITIES

Commodities
Gold1808.29-0.12
Silver20.00+0.14
Copper3.59-0.02
Palladium1945.65+0.65
Platinum887.00+1.00
Oil110.57+2.14
Heating Oil3.97+0.03
Natural Gas5.86+0.13

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