SVRGF - 5 Top Weekly TSX Stocks: Oil Jumps Stocks Follow Ahead of OPEC Meeting
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending upwards early on Friday (June 5), increasing 333.46 points, to 15,861.33.
Rising oil prices were pushing the index up as investors awaited an OPEC meeting that could extend supply cuts.
In other commodities, gold was trading below US$1,700 per ounce on Friday, on track for a weekly loss, while silver was also trending downward. In base metals, copper was heading for a weekly gain, almost touching US$5,500 per tonne.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Baytex Energy (TSX:BTE)
- Gran Tierra Energy (TSX:GTE)
- Athabasca Oil (TSX:ATH)
- Seven Generation Energy (TSX:VII)
- International Petroleum (TSX:IPCO)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Baytex Energy
Calgary-based Baytex Energy is an oil and gas company engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States.
The company did not release any news last week, but Baytex Energy’s share price increased 83.33 percent over the five-day period to close at C$0.77.
2. Gran Tierra Energy
Gran Tierra Energy is an independent international energy company focused on oil and natural gas exploration and production in Colombia and Ecuador. On June 1, the company announced the completion of the semi-annual redetermination of the company’s bank-syndicated credit facility.
As a result of the news, the company’s share price jumped 68.12 percent to end the week at C$0.58.
3. Athabasca Oil
Another Alberta-based energy company, Athabasca Oil is focused on the development of thermal and light oil assets. On June 1, the company completed the annual review of its credit facilities.
In Q1, the company produced 36,550 boe/d, including 28,300 bbl/d in thermal oil and 8,250 boe/d in light oil. Last week, Athabasca Oil saw its share price increase 65.38 percent last week to C$0.21.
4. Seven Generation Energy
Seven Generations is developing its multi-decade core development — the Kakwa River project. This large-scale, liquids-rich Montney natural gas property, covering more than 500,000 net acres, is located about 100 kilometres south of the company’s operations headquarters in Grande Prairie, in northwest Alberta.
The company did not release any news last week, but saw its share price go up by 39.14 percent to reach C$4.04.
5. International Petroleum
International Petroleum is a new international oil and gas exploration and production company with a portfolio of assets located in Canada, Europe and South East Asia. International Petroleum is a member of the Lundin Group.
Even though it did not release news last week, shares of the company increased 38.83 percent, to end at C$2.86.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within 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.