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Thursday, December 7, 2023

5 Top Weekly TSX Performers: Questerre Energy Rises 61 Percent

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,072.2 in the early morning on Friday (January 7). It closed out the day slightly higher at 21,084.45.

The index rebounded from a two week low as investors awaited the release of a US jobs data report.

Looking over to commodities, gold and silver edged up on Friday as the US dollar retreated, making precious metals more attractive for investors using other currencies.

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

  • Questerre Energy (TSX:QEC)
  • Obsidian Energy (TSX:OBE)
  • Forza Petroleum (TSX:FORZ)
  • Freegold Ventures (TSX:FVL)
  • Fission Uranium (TSX:FCU)

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

1. Questerre Energy

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

Questerre has not released any recent news; however, the company suggested its share price gains could be related to recent comments by the Quebec government about “potential compensation for revoking hydrocarbon licenses in the province.” Last week, shares of Questerre increased 61.7 percent to trade at C$0.38.

2. Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of assets in Alberta, Canada; they produce over 25,000 barrels of oil equivalent per day.

Last Thursday (January 6), the company provided an operational update on its H2 2021 development program, saying all drilling activity was completed on schedule. The company rose 31.59 percent last week to end at C$6.54.

3. Forza Petroleum

Forza Petroleum, formerly Oryx Petroleum, is an oil exploration, development and production company. It has a 65 percent participating interest in and operates the Hawler license area in Iraq’s Kurdistan region.

Forza has not released any news since November 2021, when it shared its Q3 financial and operational results. Over last week’s five day period, company shares increased 31.25 percent to end at C$0.21.

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 a year-end update on December 16. Last week, shares of Freegold Ventures increased 29.73 percent, and were trading at C$0.48 by the end of the period.

5. Fission Uranium

Fission Uranium is a resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property in Canada’s Athabasca Basin.

Fission’s last news came on December 1, when it announced it was commencing an environmental assessment on its Patterson Lake South project. Last week, Fission saw its share price increase 22.67 percent to hit C$0.92.

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.

Editorial Disclosure: Fission Uranium and Freegold Ventures are clients of the Investing News Network. This article is not paid-for content.

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