1.5 C
Wednesday, November 29, 2023

5 Top Weekly TSX Performers: Uranium Stocks Dominate

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upward last Friday (November 5), trading at 21,442.42 by midday. It closed the five day period at 21,455.82.

The index hit a record high on the last day of trading, supported by strength in financial stocks.

On Friday, gold and silver edged up following dovish comments from the US Federal Reserve, which will wait for more job growth before raising interest rates.

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

  • Energy Fuels (TSX:EFR)
  • Golden Star Resources (TSX:GSC)
  • Mega Uranium (TSX:MGA)
  • Verde Agritech (TSX:NPK)
  • Laramide Resources (TSX:LAM)

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

1. Energy Fuels

Energy Fuels is a leading US-based uranium-mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial production of rare earth carbonate in 2021.

Last Monday (November 1), the company reported its Q3 results, reporting $132.8 million in working capital. Last week, shares of Energy Fuels increased 27.46 percent, and were trading at C$12.44 by the end of the week.

2. Golden Star Resources

Gold-mining company Golden Star Resources is focused on its Wassa mine in Ghana, West Africa.

Last Monday, Golden Star announced plans to acquire Chifeng Jilong Gold Mining (SHA:600988) via an all-cash offer valued at US$470 million. Shares of the company increased 19.38 percent last week to end at C$4.62.

3. Mega Uranium

Headquartered in Toronto, Mega Uranium is focused on uranium properties in Canada and Australia. The company also has a portfolio of equity investments in uranium-focused public and private companies.

Last Thursday (November 4), the company signed an agreement to sell its interest in the Mustang Lake uranium property, located in Labrador, Canada, to Labrador Uranium. Over the five day period, shares of Mega Uranium increased 18.75 percent to end the week at C$0.38.

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 increased sustainability.

Last week, Verde Agritech saw its share price increase 17.97 percent to hit C$1.51.

5. Laramide Resources

Uranium company Laramide Resources owns several projects in the US and Australia, including the Churchrock and Crowpoint in situ recovery projects. The miner is also advancing its Utah-based La Sal project and La Jara Messa in New Mexico.

Last week, shares of Laramide Resources increased 15.91 percent to trade at C$1.02 by the end of the week.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within process industries, energy minerals and non-energy minerals sectors 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: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.

The post 5 Top Weekly TSX Performers: Uranium Stocks Dominate appeared first on Investing News Network.

Source link

Related Articles

Latest Articles