6.6 C
Thursday, December 7, 2023

5 Top Weekly TSX Stocks: Equinox Leads Gold and Silver Miners Higher

The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell last week, ending Friday (March 17) at 19,381.93.

However, gold and silver miners listed on the TSX made gains as the gold price neared US$2,000 per ounce.

The yellow metal has been buoyed by turmoil in the US, where Silicon Valley Bank and Signature Bank both recently collapsed. Upheaval is present on a global scale as well, with UBS (NYSE:UBS) agreeing to acquire troubled Credit Suisse (NYSE:CS).

Here’s a look at the five top-gaining TSX mining companies last week and the factors that moved their share prices.

1. Equinox Gold (TSX:EQX)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Equinox Gold”,”url”:”https://www.equinoxgold.com”,”description”:”Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.”,”tickerSymbol”:”TSX:EQX”,”sameAs”:[]}

Company Profile

Weekly gain: 23.9 percent; current share price: C$6.22; market cap: C$1.941 billion

Led by well-known mining industry figure Ross Beaty, Equinox Gold was formed in 2017 and quickly amassed seven producing mines in the Americas. The company’s goal is to produce 1 million ounces of gold on an annual basis.

There was no news from Equinox last week, but its share price rose 23.9 percent to close at C$6.22.

2. Aya Gold & Silver (TSX:AYA)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Aya Gold & Silver Inc.”,”url”:”http://www.ayagoldsilver.com”,”description”:”Aya Gold & Silver Inc is engaged in acquisition, exploration, evaluation, and development of mining properties. The company and its subsidiaries are at the development stage for its Zgounder project and exploration and evaluation stage for projects in Morocco. Its other project includes Boumadine; Amizmiz; Azegour and others.”,”tickerSymbol”:”TSX:AYA”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29647966&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29647966&width=210″}

Company Profile

Weekly gain: 21.47 percent; current share price: C$9.28; market cap: C$974.464 million

Precious metals producer Aya Gold & Silver is focused on Morocco, where it has the Zgounder silver mine. The company is also moving forward at exploration assets in Morocco, and has the Tijirit gold project in Mauritania.

Aya didn’t share any news last week, but company shares rose 21.47 percent to hit C$9.28.

3. Sandstorm Gold Royalties (TSX:SSL)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Sandstorm Gold Ltd.”,”url”:”https://www.sandstormgold.com”,”description”:”Sandstorm Gold Ltd provides financing to companies engaged in gold mining through gold stream and royalty. Geographically, the company has operational footprints in North America, South & Central America, Africa, and Asia & Australia. The firm’s royalties include Hod Maden, Santa Elena, Chapada, and Cerro Moro.”,”tickerSymbol”:”TSX:SSL”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29647928&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29647928&width=210″}

Company Profile

Weekly gain: 20.03 percent; current share price: C$7.85; market cap: C$2.341 billion

Sandstorm Gold Royalties has 250 royalties and streams on mines around the world. These contracts give the company a percentage of revenue (in the case of a royalty) or a percentage of production (in the case of a stream); in exchange, it provides upfront financing. At the moment, 39 of the companies Sandstorm has contracts with are producing.

Sandstorm’s share price rose 20.03 percent last week although it didn’t put out any news.

4. Endeavour Silver (TSX:EDR)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Endeavour Silver Corp.”,”url”:”https://www.edrsilver.com”,”description”:”Endeavour Silver Corp is a Canadian mineral company engaged in the evaluation, acquisition, exploration, development and exploitation of precious metal properties in Mexico and Chile. The company has three producing silver-gold mines in Mexico: the Guanacevi Mine in Durango, the Bolanitos Mine in Guanajuato and the El Compas Mine in Zacatecas. It also has three exploration projects in northern Chile: Aida project, Paloma project and the Cerro Marquez project.”,”tickerSymbol”:”TSX:EDR”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29648215&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29648215&width=210″}

Company Profile

Weekly gain: 20 percent; current share price: C$4.68; market cap: C$889.151 million

Mid-tier precious metals miner Endeavour Silver operates in Mexico, Chile and the US. It has two silver-gold mines in Mexico, and is currently working toward a development decision at its Terronera asset in the country.

Endeavour did not provide any updates last week, but its share price still rose 20 percent to close at C$4.68.

5. First Majestic Silver (TSX:FR)

{“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”First Majestic Silver Corp.”,”url”:”https://www.firstmajestic.com”,”description”:”First Majestic is a publicly traded mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine. Production from these mines are projected to be between 11.0 to 11.7 million silver ounces or 21.4 to 22.9 million silver equivalent ounces in 2020.”,”tickerSymbol”:”TSX:FR”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=29648213&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=29648213&width=210″}

Company Profile

Weekly gain: 19.1 percent; current share price: C$10.04; market cap: C$2.665 billion

First Majestic Silver has four producing mines: the San Dimas silver-gold mine, the Santa Elena silver-gold mine, the La Encantada silver mine and the Jerritt Canyon gold mine. The first three are in Mexico, while the fourth is in Nevada. Helmed by Keith Neumeyer, First Majestic’s goal is to become the largest primary silver producer.

The company’s share price rose 19.1 percent last week although it didn’t share any news.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday after market close 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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Source link

Related Articles

Latest Articles