The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened higher last Friday (June 30) at 20,095.58.
The index trended upward last week and was on track for a weekly gain of more than 2 percent. The technology and banking sectors had positive momentum during the five day period, while in the commodities space the gold price was back in the US$1,900 per ounce range on Friday; its sister metal silver was hovering around US$22.70 per ounce.
Gold’s fundamentals remain strong, and according to Peter Grandich of Peter Grandich & Co., central bank buying and de-dollarization are two key trends that are set to drive the yellow metal higher moving forward.
“Either they rang the bell and I didn’t hear it and it’s all over, or (the junior sector) is as compelling as it’s ever been in 40 years. And I’m hoping it’s the latter,” he told the Investing News Network in an interview.
Against that backdrop, some resource juniors saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.
Leading this week’s top TSX stocks list is Verde Agritech, which saw its share price increase 28.57 percent to end the week at C$2.70.
Verde Agritech is developing its Cerrado Verde project 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.
Exploration and development company Augusta Gold is focused on its Bullfrog gold project. The asset is located in the Bullfrog mining district, approximately 120 miles northwest of Las Vegas, Nevada, and 4 miles west of Beatty, Nevada.
The company did not release any news last week, but its share price increased 22.5 percent to end at C$0.98.
3. St. Augustine Gold and Copper (TSX:SAU)
St. Augustine Gold and Copper is focused on the development of the King-king copper-gold project. The asset is one of the largest undeveloped copper-gold deposits in the world and a top-priority mining project for the Philippine government.
Last week, shares of St. Augustine Gold and Copper increased 18.18 percent to end at C$0.065.
Oil and gas company Baytex Energy also made the list this week. The company is focused on the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the US. About 83 percent of Baytex’s production is weighted toward crude oil and natural gas liquids.
Last week, shares of Baytex Energy increased 11.79 percent to trade at C$4.32 by the end of the week.
Last but not least is energy company Athabasca Oil. The company has honed its efforts on the development of thermal and light oil assets in Alberta’s Western Canadian Sedimentary Basin.
Last week, shares of Athabasca Oil increased 11.05 percent to end the five day period at C$2.87.
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.
Article by Priscila Barrera; FAQs by Melissa Pistilli.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Image and article originally from investingnews.com. Read the original article here.