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Wednesday, September 27, 2023

5 Top Weekly TSX Performers: Nickel and Cobalt Producer Sherritt Up Over 35 Percent

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,857.67 in the early morning last Friday (January 21). It closed the five day period at 20,608.71.

The index was on track for its worst weekly drop since December as weaker oil prices weighed on energy stocks.

Looking over to other commodities, gold was hovering near a two month high on Friday, while silver had edged down but was still on track for a weekly gain.

A number of companies saw their share prices increase during the five day trading week. Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

  • Petrus Resources (TSX:PRQ)
  • Sherritt International (TSX:S)
  • Journey Energy (TSX:JOY)
  • Freegold Ventures (TSX:FVL)
  • Questerre Energy (TSX:QEC)

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

1. Petrus Resources

Petrus Resources is an energy company active in property exploitation, strategic acquisitions and risk-managed exploration in Western Canada. The company has an extensive inventory of oil and gas development assets in the Ferrier, Central Alberta and Rocky Mountain foothill regions of Alberta.

Petrus rose 51.61 percent to trade at C$1.41 last week. It has yet to release any news in 2022.

2. Sherritt International

Sherritt International is focused on mining and refining nickel and cobalt from lateritic ores, and has projects, operations and investments in Canada and Cuba. Sherritt is a top 10 producer of finished cobalt.

The company refines its nickel and cobalt in Alberta, Canada, from mixed sulfide intermediate prepared at a mine and processing plant in Moa, Cuba. The 50/50 Moa joint venture can produce up to 35,000 tonnes of nickel and 3,800 tonnes of cobalt per year. Sherritt is also the largest independent energy producer in Cuba.

Last Tuesday (January 18), Sherritt published its 2021 production results and guidance for 2022. Last week, the company’s shares increased 35.63 percent to end at C$0.59.

3. Journey Energy

Journey Energy is an exploration and production company focused on oil-weighted operations in Western Canada. The company operates in Alberta’s central and south regions along the resource fairway.

The company hasn’t released news since November 2021, when it shared its Q3 financial results. Over last week’s five day period, shares of Journey Energy increased 19.68 percent to end the week at C$3.71.

4. Freegold Ventures

Freegold Ventures is focused on exploring for copper and gold near Fairbanks, Alaska. The company holds the Golden Summit project and the Shorty Creek project.

Freegold’s last news was its year-end update in December 2021. Last week, company shares increased 18.52 percent, and were trading at C$0.64 by the end of the period.

5. Questerre Energy

Questerre Energy is engaged in the acquisition, exploration and development of oil and gas projects, including non-conventional projects such as tight oil, oil shale, shale oil and shale gas. Questerre has assets in Canada’s Alberta, Saskatchewan, Manitoba and Quebec, as well as in the Kingdom of Jordan.

Last Thursday (January 20), Questerre and the council of the First Nation of the Abenakis of Wolinak in Quebec signed a joint economic development agreement. Questerre shares rose 18.18 percent last week to hit C$0.39.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 11:00 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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