ADM - 5 Top Weekly TSX Stocks: Varied Commodities Up Top
Canada’s S&P/TSX Composite Index (INDEXTSI:OSPTX) was up last Friday (October 25) at 16,379.94 after increasing 10.62 points or 0.06 percent on the day. The Index was still below where it was the same time the previous week, however, when it was at 16,405.14.
News around the world was focused on happenings in North America, where US President Donald Trump soaked up most international attention while Canadian Prime Minister Justin Trudeau was returned to office.
Looking at commodities, oil was down last Friday, while gold was up, silver and copper were flat and all the other base metals were up.
Here are the top five gainers from TSX for last week:
- Nighthawk Gold (TSX:NHK)
- Western Resources (TSX:WRX)
- Pengrowth Energy (TSX:PGF)
- Oryx Petroleum (TSX:OXC)
- Americas Gold and Silver (TSX:USA)
Read on to find out more about what each company has been doing.
Nighthawk Gold
Nighthawk Gold is a gold exploration company with a 100 percent stake in the Indian Lake gold property in the Northwest Territories of Canada, where it has a number of projects and prospects on the go.
Earlier this month, the company reported it has intersected 6.5 meters of 10.08 grams per tonne (g/t) of gold including 4 meters of 15.94 g/t gold at its Treasure Island project in the Territories.
Last week, Nighthawk was trading at C$0.48 — up by 26.32 percent on the previous week’s trading.
Western Resources
Western Resources was formerly known as Western Potash, but diversified itself in order to branch into other minerals. It’s potash operations are now handled by its wholly owned subsidiary of the same name.
In late September, the company announced that Western Potash had entered into a binding offtake agreement with Archer Daniels Midland (NSYE:ADM) for 100 percent of the potash production (146,000 tonnes per annum) from the Milestone Phase I plant in Saskatchewan.
Despite the lack of news in the last few weeks, Western Resources was up by 21.82 percent on the TSX last week to reach C$0.355.
Pengrowth Energy
Intermedia oil and gas producer Pengrowth Energy has assets in Western Canada, where it’s based. It has two core projects: the Lindbergh thermal oil project in Alberta and the Groundbirch Montney natural gas project in British Columbia.
In news, Pengrowth released an update on August 8, when it announced that its second quarter 2019 adjusted funds flow increased by 188 percent year-on-year to C$29 million. In more recent news, on October 1 the company announced a 31 day extension to its debt maturities.
Pengrowth Energy was trading at C$0.225 at the end of last week, up by 18.42 percent.
Oryx Petroleum
Oryx Petroleum is an international oil company established in 2010. It has a number of assets, projects and wells in the Kurdistan region of Iraq, the Democratic Republic of Congo and Senegal.
The company’s most recent news was at the end of July, when it released its Q2 financial and operating results detailing a 156 percent increase in oil production.
Oryx was trading at C$0.22 at the end of last week after gaining 15.79 percent over the previous five days of trading.
Americas Gold and Silver
Americas Gold and Silver is a precious-metals-focused company, but so far mainly focuses on silver through its ownership of two silver complexes in the US and Mexico. It expects to begin producing gold in Q4 2019 and has a third mine on the way in Nevada.
The most recent news from the company was back in early September, when it announced it was entering into a strategic joint venture with Canadian billionaire Eric Sprott at its Galena complex in Idaho. The company also rebranded from simply Americas Silver at about the same time.
Americas Gold and Silver gained 15.75 percent on the TSX last week to reach C$4.19 by Friday.
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 C$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.