Last week’s other top-gaining mining stocks on the TSX were Monarques Gold, Delphi Energy, New Gold and Trevali Mining.
Canada’s largest exchange regained some traction over the morning while cannabis and health stocks slumped. Despite the upward movement of the oil price, the energy sector was down 0.9 percent. The TSX sat at 15,135.55 at 1:03pm EST.
Here’s a look at those companies and the factors that moved their share prices last week.
Canadian base metals miner Capstone currently has two producing copper mines, Pinto Valley in the US and Cozamin in Mexico. Capstone also has a stake in the Chilean copper-iron Santo Domingo development project. The base metals focused company also has owns the Minto copper mine which is currently on care in maintenance in the Yukon.
Capstone did not make any company news last week. On November 8, the copper miner announced it had eliminated 35 percent of the positions from its head office in Vancouver in an effort to reduce expenses US$5 million annually. Capstone shares grew by 16.66 percent last week, to C$0.63.
Precious metals focused Monarques Gold is an emerging gold mining company with a variety of early stage projects in the Abitibi area of Quebec. Presently, Monarques is working to develop the Wasamac deposit, in addition to its ongoing efforts at the Beaufor Mine, Croinor Gold, McKenzie Break and Swanson projects.
On Wednesday (November 14), Monarques Gold announced that its common share would begin trading on the TSX on Thursday (November 15).
“Graduation to the TSX is an important milestone for Monarques, as it will allow us to expand our shareholder base to a larger pool of institutional investors,” Jean-Marc Lacoste, president and CEO, said in the press release.
Company shares were up 15 percent on the second day of trading, sitting at C$0.230.
Alberta-based Delphi Energy is an oil and gas producer operating the Bigstone Montney property, 150 km southeast of Grande Prairie. According to Delphi, Bigstone has the potential of producing 22,000 barrels of oil equivalent per day (boe/d) by 2019 based on the existing infrastructure.
Delphi released its Q3 results on Tuesday (November 13). Highlights from the report include the company achieving its quarterly production guidance, 9,514 barrels boe/d were produced. Delphi shares were up 14.55 percent, to C$0.63.
New Gold is a Canada-focused gold mining company, operating three Canadian projects. In addition to The New Afton and Rainy River mines and the Blackwater project, New Gold also owns Cerro San Pedro mine in Mexico.
The gold miner did not release any company announcements during the period. New Gold stock climbed 11.93 percent last week, to C$1.22.
Trevali is a zinc-focused, base metals producer currently operating four mines. The company’s ongoing projects include, the Santander mine in Peru, the Caribou mine in northern New Brunswick, the Rosh Pinah mine in Namibia and the Perkoa mine in Burkina Faso.
On Thursday (November 15, Trevali announced the TSX has accepted its notice to implement a normal course issuer bid to purchase, then cancel, up to 40,000,000 common shares. Trevali stock was up 11.63 percent for the week, trading at C$0.480.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Trevali Mining is a client of the Investing News Network. This article is not paid-for content.