The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,198.01 by midday this past Friday (November 26). It closed the period at 21,129.53.
The index opened lower as energy stocks fell on the back of declining oil prices, which hit a two month low on the last day of the trading week.
On Friday, investors turned to safe haven assets as concerns over a new coronavirus variant increased. Gold gained, but silver fell and was on track for a weekly loss.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Sierra Metals (TSX:SMT)
- Champion Iron (TSX:CIA)
- SouthGobi Resources (TSX:SGQ)
- Verde Agritech (TSX:NPK)
- Forza Petroleum (TSX:FORZ)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Sierra Metals
Sierra Metals is a growing polymetallic mining company with copper production from its Yauricocha mine in Peru and its Bolivar and Cusi mines in Mexico.
The company did not release news last week, but shares of Sierra Metals increased 8.67 percent during the period and were trading at C$1.88 by the end of the week.
2. Champion Iron
Champion Iron is an iron ore exploration and development company with several major projects in the Southern Labrador Trough, considered the largest iron ore-producing region in Canada.The company is currently developing eight iron-rich projects, including its flagship Bloom Lake asset.
Last week, Champion Iron shares increased 8.29 percent to end at C$4.05.
3. SouthGobi Resources
Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of China-Mongolia border. The company also holds mining and exploration licences for other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.
Over the five day period, shares of SouthGobi Resources increased 7.46 percent to end the week at C$0.36.
4. Verde Agritech
Verde AgriTech is developing its Cerrado Verde project, located in Brazil. The project is the source of a potassium-rich deposit from which the company intends to produce solutions for crop nutrition, crop protection, soil improvement and better sustainability.
Last Wednesday (November 24), the company announced a 169 percent rise in revenue for Q3, and revised its target for the year upward. Verde Agritech saw its share price increase 6.29 percent last week to hit C$1.86.
5. 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.
Last week, shares of Forza Petroleum increased 6.25 percent to trade at C$0.17 by the end of the week.
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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This artice is not paid-for content.