GUYFF - 5 Top Weekly TSX Stocks: Independent Audit Boosts Nemaska
Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was up by 64.72 points last week, reaching 16,475.60 by Friday (May 3).
Global news was dominated by a seemingly failed uprising in Venezuela, more drama out of the US over the 2020 election with 21 Democrats now lined up to try and take on Donald Trump and plenty of news out of Australia as its Federal Election campaign churns on.
Base metals took a tumble as the US dollar remained week, while gold predictably had a bump on the same news.
Looking at miners on the TSX, here are the top gainers from last week:
- Guyana Goldfields (TSX:GUY)
- Nemaska Lithium (TSX:NMX)
- Anglo Pacific Group (TSX:APY)
- TMAC Resources (TSX:TMR)
- Akita Drilling (TSX:AKT.B)
Guyana Goldfields
Mid-tier gold miner Guyana Goldfields is focused on exploration, development and operation of gold deposits in the South American nation that gives it its name.
On Wednesday (May 1) last week, the company announced that it had confirmed continued mineralization at its Mad Kiss satellite deposit at its Aurora gold mine.
On the TSX, Guyana’s share prices responded by increasing by 21.28 percent over the course of the week, trading at C$1.4 by Friday (May 3).
Nemaska Lithium
Lithium developer Nemaska Lithium has plans to become a vertically integrated lithium supplier in the battery metals space.
The company ran into some trouble at the start of this year following financing challenges, which saw a supply deal fall away.
At the end of last month the company announced that it had received the results of an independent audit.
Nemaska was trading at C$0.32 at the end of last week, up 18.52 percent.
Anglo Pacific Group
Anglo Pacific is a mineral royalties company that receives royalties from a diverse range of producing mines across five continents — drawing royalties from coal, vanadium, gold, silver, copper and uranium.
In its most recent release, the company noted that most of its royalty income for Q1 2019 had come from coking coal.
In Toronto, Anglo Pacific was trading at C$4 by last Friday, up 14.29 percent.
TMAC Resources
TMAC controls the Hope Bay gold project in Nunavut which produced 40,050 ounces of gold in Q1 this year.
Last week TMAC announced its Q1 results which it said were its first positive earnings from its Hope Bay project.
On the TSX, TMAC was up by 12.31 percent last week, trading at C$4.38.
Akita Drilling
An oil and gas drilling company, Akita operates in Canada and the United States as an ancillary mining company, providing drill rigs to exploration companies as well as custom rig construction.
In Akita’s news, the company was talking up its 2018 acquisition of a US-based drilling company last week, saying that it was successful in expanding its operations there.
In Toronto, Akita was trading at C$4 by last Friday, up 9.59 percent.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nemaska Lithium is a client of the Investing News Network. This article is not paid-for content.