The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened up last Friday (August 11) at 20,342.88.
The index was on track to end the week on a positive note, rising 1.18 percent during the five day trading week. Lower-than-expected US inflation numbers supported investors’ expectations that the Federal Reserve could end its rate hikes soon.
Looking over to commodities, gold fell on Friday, trading around the US$1,917 per ounce mark, with sister metal silver also dropping, falling to the US$22 per ounce level.
But gold might be headed to a new high, according to Jeffrey Christian of CPM Group, who doesn’t think it needs a catastrophe to get there.
“There are a whole lot of issues that are lined up against the value of wealth right now. Looking into 2024, 2025 we see a lot of really good substantive real reasons to have some of your assets in gold,” he explained at the Rule Symposium.
Last week, some resource junior mining and energy focused companies saw their stock prices go up. Here’s a look at those companies and the factors that moved their share prices last week.
Leading this week’s top TSX stocks list is Eastern Platinum, which saw its share price increase 20 percent to end the week at C$0.09.
Eastern Platinum is a mid-tier platinum group metals and chrome producer with assets located along South Africa’s Bushveld Complex, the world’s largest known PGM resource. The company’s operations include the Crocodile River mine, the Mareesburg project and the Kennedy’s Vale and Spitzkop projects.
Questerre Energy is focused on the acquisition, exploration and development of oil and gas projects, in specific non-conventional projects such as tight oil, oil shale, shale oil and shale gas. The company holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada as well as in the Kingdom of Jordan.
Last week, shares of Questerre Energy increased 17.95 percent to end at C$0.23.
Orvana is a multi-mine gold-copper producer. Orvana’s operations consist of the El Valle gold-copper-silver mines in northern Spain and the copper-gold-silver Don Mario Mine in Bolivia, currently in care and maintenance, and the Taguas property located in Argentina.
Last week, the company did not release any news, but its shares increased 16.13 percent to end at C$0.18.
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.
Last week, shares of Fission Uranium increased 15.25 percent, to end the five-day period at C$0.68.
5. Crew Energy (TSX:CR)
Last but not least this week is Crew Energy, an oil and natural gas producer. Crew’s activities are primarily focused in the Montney resource in Northeast BC, where it has a large, contiguous land base of approximately 277,000 net acres (433 net sections).
On August 9, the company published its Q2 results, with average production reaching 30,046 barrels of oil equivalent per day. Last week, shares of Crew Energy increased 15.23 percent to end at C$6.43.
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.
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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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