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Tuesday, July 5, 2022

5 Top Weekly TSX Stocks: Journey Energy Up After Private Company Acquisition

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (June 25), trading at 20,215.12. It closed the day slightly higher at 20,224.56.

Despite falling on the last day of the trading week, the index was able to achieve a weekly gain.

On Friday, the gold price rose as the US dollar retreated, and was on track for a weekly increase for the first time in four weeks. Silver was also up, trading above US$26 per ounce.

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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

  • Paramount Resources (TSX:POU)
  • Crew Energy (TSX:CR)
  • Frontera Energy (TSX:FEC)
  • Obsidian Energy (TSX:OBE)
  • Journey Energy (TSX:JOY)

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

1. Paramount Resources

Liquids-focused Canadian energy company Paramount Resources explores for and develops both conventional and unconventional petroleum and natural gas reserves and resources. Paramount’s principal properties are located in Alberta and British Columbia.

Last week, the company saw its share price increase 21.73 percent to C$16.75.

2. Crew Energy

An oil and natural gas producer, Crew Energy’s activities are primarily focused in the Montney resource in Northeast British Columbia, where it has a large, contiguous land base of approximately 277,000 net acres (433 net sections).

Despite not releasing news last week, Crew jumped 19.14 percent to end the week at C$1.93.

3. Frontera Energy

Frontera Energy is an explorer and producer of crude oil and natural gas, with operations focused in South America. The company has a diversified portfolio of assets with interests in more than 40 exploration and production blocks in Colombia, Peru, Ecuador and Guyana.

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Over the five day period, the company’s share price jumped 17.48 percent to end the week at C$7.26.

4. Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.

Despite not releasing any news last week, Obsidian Energy’s share price jumped 17.21 percent to end the week at C$4.29.

5. Journey Energy

Journey Energy is an explorer and producer focused on oil-weighted operations in Western Canada. The company operates in the central region, south region and Resource Fairway in Alberta.

Last Thursday (June 24), Journey Energy entered into a definitive agreement to purchase a private company producing approximately 610 barrels of oil equivalent per day (76 percent natural gas), primarily in the Nordegg and Grande Cache areas of Alberta. On the back of the news, Journey Energy saw its share price increase 16.67 percent to C$1.33.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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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The post 5 Top Weekly TSX Stocks: Journey Energy Up After Private Company Acquisition appeared first on Investing News Network.



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