The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,918.28 in the early morning last Friday (March 25). It closed the five day period slightly higher at 22,011.18.
Cannabis producers drove Friday’s gains, but looking over to metals, gold and silver were up as Russia’s ongoing invasion of Ukraine pushed investors to safe-haven assets. Prices for fertilizers have reached all-time highs on the back of the war, as Russia is a key exporter of nitrogen, phosphate and potash fertilizers.
“Since the beginning of 2020, nitrogen fertilizer prices have increased fourfold, while phosphate and potash prices over threefold,” Chris Lawson, head of fertilizers at CRU Group, said in an email. “While farmers in developed markets have benefitted from high agricultural commodity prices, helping to partly offset high input prices, demand destruction is increasingly likely due to high prices and supply shortfalls.”
Last week, a number of companies saw their share prices increase. The five TSX-listed mining stocks that saw the biggest gains are as follows:
- Avalon Advanced Materials (TSX:AVL)
- Karnalyte Resources (TSX:KRN)
- Petrus Resources (TSX:PRQ)
- Lithium Americas (TSX:LAC)
- Anglo Pacific Group (TSX:APY)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Avalon Advanced Materials
Avalon Advanced Materials has five projects across Canada focused on critical metals, including lithium, rare earths, cesium, tantalum, feldspar, tin and indium. It is currently honing its efforts on its Separation Rapids lithium project near Kenora, Ontario, and its Lilypad cesium-tantalum project near Fort Hope, Ontario.
On March 17, the Ontario government unveiled a critical minerals strategy geared at supporting a made-in-Ontario electric vehicle supply chain. Avalon expects to give an update on its own plans on March 30; shares of the company increased 59.09 percent last week to trade at C$0.17.
2. Karnalyte Resources
With potash prices on the rise, it comes as no surprise that potash development company Karnalyte Resources made the list last week. The company’s Wynyard potash project is ready for construction, and Karnalyte is working on financing and building for Phase 1. It is aiming to construct a 2.125 million tonne per year potash solution-mining facility using a three phase modular approach.
Last week, the Saskatoon-headquartered company saw its share price increase 35.23 percent to hit C$1.19.
3. Petrus Resources
Energy company Petrus Resources’ exploration and exploitation activities are centered on Alberta, where it has a portfolio of oil and gas development assets. The company operates in three main areas, which are Ferrier, Central Alberta and the Rocky Mountain foothills.
Over the five day period, shares of Petrus Resources increased 27.74 percent to end last week at C$1.98.
4. Lithium Americas
Lithium Americas owns the Thacker Pass lithium claystone project in Nevada, US. With an initial Phase 1 capital cost of US$581 million, the project will have an annual production capacity of 60,000 tonnes per year.
In addition to Thacker Pass, Lithium Americas, together with Chinese top lithium producer Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772,SZSE:002460), is developing the Caucharí-Olaroz project, located in Jujuy, Argentina. The company also recently finalized its acquisition of Millennial Lithium and its flagship lithium brine project, Pastos Grandes, in Salta, Argentina.
Following the release of its fourth quarter and full-year 2021 results on March 17, Lithium Americas saw its share price increase 24.74 percent over last week’s five day period to hit C$43.61.
5. Anglo Pacific Group
Anglo Pacific Group is a royalty and streaming company interested in offering exposure to commodities associated with decarbonization. It has exposure primarily to cobalt and base metals, as well as coking coal and iron.
Last week, shares of Anglo Pacific increased 22.14 percent to trade at C$3.20.
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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.