5 Top Weekly TSX Stocks: Avalon Advanced Materials Up on Acquisition News

5-top-weekly-tsx-stocks:-avalon-advanced-materials-up-on-acquisition-news

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Last week’s top-gaining stocks on the TSX were Avalon Advanced Materials, Forsys Metals, Nevada Copper, Orosur Mining and Almonty.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending up at midday on Friday (February 19), at 18,347.33, but closed slightly higher at 18,386.96. 

Last week, gold was on the rebound as the US dollar weakened, while silver was on track for its second weekly gain. On the base metals front, all eyes were on copper, which hit a nine year high as Chinese markets reopened following Lunar New Year celebrations.

The five TSX-listed mining stocks that saw the biggest gains last week are as follows:

  • Avalon Advanced Materials (TSX:AVL)
  • Forsys Metals (TSX:FSY)
  • Nevada Copper (TSX:NCU)
  • Orosur Mining (TSX:OMI)
  • Almonty Industries (TSX:AII)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Avalon Advanced Materials

Avalon Advanced Materials has four advanced-stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids lithium project near Kenora, Ontario, while looking at several new project opportunities, including reactivating its 100 percent owned Lilypad cesium-tantalum project in Northwestern Ontario.

Last Monday (February 15), the company announced an agreement to acquire the right to the title of a closed mine site with rare earths recovery potential. Following the news, Avalon Advanced Materials’ share price jumped 84.21 percent to end the week at C$0.35.

2. Forsys Metals

Forsys Metals is focused on developing uranium projects on the African continent. Currently, the explorer owns the Norasa project, which includes the fully permitted Valencia uranium project, and is also developing the Namibplaas uranium project; both are in Namibia.

Last week, the company’s share price increased 45.24 percent to end at C$0.61.

3. Nevada Copper

Nevada Copper’s flagship Pumpkin Hollow copper project is located in Nevada. Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver. Its two fully permitted projects include a high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open-pit project that is advancing towards feasibility status.

The company did not release any news last week, but shares rose 32.25 percent to end at C$0.22.

4. Orosur Mining

Orosur Mining is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The company operates in Colombia and Uruguay.

Last week, Orosur Mining did not release any news, but shares of the company increased 32 percent to end the five day period at C$0.66.

5. Almonty Industries

Canada-based Almonty Industries is focused on the mining, processing and shipping of tungsten concentrate from its Los Santos mine in Western Spain and its Panasqueira mine in Portugal. The company is also developing its Sangdong tungsten mine in Gangwon Province, South Korea, along with its Valtreixal tin-tungsten project in Northwestern Spain.

Last week, the company saw its share price go up by 29.49 percent to reach C$1.01.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST 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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