Last week’s top-gaining stocks on the TSX were Athabasca Oil, NextSource Materials, Peyto, Paramount Resources and MEG Energy.
The index was supported by the energy sector and the metals and mining industry, closing the week at 18,135.57 and increasing more than 4 percent since January 29.
The five TSX-listed mining stocks that saw the biggest gains last week are as follows:
- Athabasca Oil (TSX:ATH)
- NextSource Materials (TSX:NEXT)
- Peyto Exploration & Development (TSX:PEY)
- Paramount Resources (TSX:POU)
- MEG Energy (TSX:MEG)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Athabasca Oil
Alberta-based energy company Athabasca Oil is focused on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the company has a significant land base of extensive, high-quality resources.
Athabasca Oil did not release any company news last week, but still saw its share price increase 73.33 percent to reach C$0.39.
2. NextSource Materials
Toronto-based NextSource Materials is a mine development company in the final stage of developing its 100 percent owned Molo graphite project in Southern Madagascar. The Molo project is a fully permitted, feasibility-stage project and is the only project with SuperFlake graphite.
Despite not releasing any news, during the five day period NextSource Materials’ share price jumped 38.89 percent to end last week at C$0.12.
3. Peyto Exploration & Development
Peyto Exploration & Development is an explorer and producer of unconventional natural gas in Alberta’s Deep Basin. The company did not release any news last week, but shares of Peyto increased 34.84 percent to end at C$4.76.
4. Paramount Resources
Liquids-focused Canadian energy company Paramount Resources explores for and develops both conventional and unconventional petroleum and natural gas reserves and resources. Paramount’s principal properties are located in Alberta and British Columbia.
Another company without news last week, the energy stock’s share price nevertheless increased 31.78 percent to end the five day period at C$8.46.
5. MEG Energy
Canada-focused MEG Energy has all its efforts on producing sustainable in situ thermal oil in the Southern Athabasca region of Alberta. The company is actively developing innovative oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil, as well as lower carbon emissions.
Last Tuesday (February 2), MEG closed an offering of senior unsecured notes. The company saw its share price go up by 31.69 percent last week to reach C$5.61.
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.