5 Top Weekly TSX Performers: Uranium Stocks Take Off

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 20,153.11 early last Friday (August 26).

The index was on the rise last week, on track for another weekly gain, as investors turned their attention to US Federal Reserve Chair Jerome Powell’s speech in Jackson Hole, Wyoming.

Gold was trading lower on Friday, with sister metal silver also declining, but set for a weekly gain.

“Gold traders (are) worried that a hawkish statement would provide additional strength to the dollar and yields, thereby further delaying gold’s return to strength by potentially sending it below support at $1,729,” Ole Hansen, head of commodity strategy at Saxo Bank, said in a note.

Last week, a number of companies saw their share prices increase, in particular from the energy sector. The five TSX-listed mining stocks that saw the biggest gains are as follows:

  • St. Augustine Gold and Copper (TSX:SAU)
  • Mega Uranium (TSX:MGA)
  • Global Atomic (TSX:GLO)
  • Turquoise Hill Resources (TSX:TRQ)
  • Solitario Zinc (TSX:SLR)

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

1. St. Augustine Gold and Copper

St. Augustine Gold and Copper is developing the King-king copper-gold project, which it says is one of the largest undeveloped copper-gold deposits in the world, and is among the Philippine government’s top three priorities.

Last week, St. Augustine saw its share price increase 25 percent to hit C$0.075 by the end of the period, although it didn’t release any news during the week.

2. Mega Uranium

Mega Uranium shares the top spot with St. Augustine with a 25 percent share price gain that took it to C$0.32 by the end of the week. It did not release any news during the five day period.

The company’s efforts are centered on uranium properties in Canada and Australia, and Mega Uranium also has a portfolio of equity investments in uranium-focused public and private companies.

3. Global Atomic

Global Atomic is focused on uranium exploration in Niger and zinc recycling in Turkey. It owns 90 percent of the Dasa project, which it says is the largest and highest-grade uranium deposit found in Africa since the 1970s.

Last week, the diversified company’s share price increased 24 percent to trade at C$3.72.

4. Turquoise Hill Resources

Turquoise Hill Resources describes the Mongolia-based Oyu Tolgoi copper-gold mine as its “principal and only material mineral resource property.” The company shares ownership of Oyu Tolgoi with a Mongolian state-owned entity, with both of them holding stakes in a firm called Oyu Tolgoi LLC.

Last Wednesday (August 24), the company received an improved non-binding proposal from Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) to acquire all of the outstanding common shares of the company it does not own for cash consideration of C$40 each. Turquoise Hill’s share price jumped 21.2 percent on the news to end the week at C$37.50.

5. Solitario Zinc

Solitario Zinc has a 50 percent stake in a joint venture for the Alaska-based Lik zinc deposit with Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK). In addition, the company has a 39 percent joint venture interest in the Florida Canyon zinc project, located in Peru, with Nexa Resources holding the remainder.

Last Wednesday, the company received new assay results for its Golden Crest project in South Dakota. Solitario saw its share price increase 19.7 percent to hit C$0.79 by the end of the trading week.

Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View’s stock screener. Only companies with a market capitalization greater than C$50 million prior to the week’s gains are included. Companies within process industries, energy minerals and non-energy minerals sectors are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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