S&P/TSX Composite Index (INDEXTSI:OSPTX) ended the week ending Friday 10 February almost neutral at 20,612.12.
The index hit a weekly high on Tuesday, aided by gains in energy stocks as oil prices rose on hopes of increased demand from China.
In commodities, gold and silver fell Friday and were on track toward weekly losses. US Federal Reserve Chairman Jerome Powell reiterated on Tuesday that the central bank has not finished raising rates. Gold is sensitive to rising interest rates as the opportunity cost of holding a non-yielding asset increases.
Still, precious metals stocks rose last week. Here are the five TSX-listed mining stocks that made the biggest gains:
Let’s take a look at these companies and what drove their stock prices last week.
1. Arizona Metals (TSX:AMC)
Arizona Metals owns 100% of both the Kay Mine Project in Yavapai County and the Sugarloaf Peak gold project in La Paz County, Arizona. During 2022, the company will completion We have drilled approximately 33,000 meters of core at the Kay Mine deposit, have obtained drilling permits for both the central and western targets, and have commenced drilling on the off-deposit targets.
Despite not announcing any news last week, Arizona Metals stock rose 20.65% to close at C$4.85.
2. Sabina Gold & Silver (TSX:SBB)
Startup gold mining company Sabina Gold and Silver owns 100% of the Back River Gold District in Nunavut, Canada. The 80km district includes his six facilities in Goose, George, Boulder, Boot, Dell and Bath. The company is currently moving forward with the Goose project, will release an updated feasibility study in 2021, and has received all major permits and approvals for construction and operation.
Last week, Sabina Gold and Silver shares rose 17.04% to close at C$1.58.
3. Questerre Energy (TSX: QEC)
Questerre focuses on the acquisition, exploration and development of oil and gas projects in certain unconventional projects such as tight oil, oil shale, shale oil and shale gas. Questerre has assets in Alberta, Saskatchewan, Manitoba, Quebec, Canada and the Kingdom of Jordan.
No company news was released last week, but Questerre’s share price climbed 15.91% to close at $0.25 CAD after five days of trading.
Four. Aclara Resources (TSX:ARA)
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Chile-focused Aclara Resources is a rare earth company that has developed an extraction process called circular mineral harvesting. The process does not use explosives, crushing or milling and does not produce liquid residues. Aclara is now fully committed to the development and future construction and operation of the Penco Module. The module is intended to produce rare earth concentrates through a processing plant fed with clay from nearby deposits.
Last week, the company’s stock rose 15.66% to finish five days at C$0.48.
Five. Yodaka Gold (TSX:NHK)
Nighthawk Gold is focused on advancing the multi-million ounce Coromac gold project and exploring land in Canada’s Northwest Territories. The company announced on February 9, release Colomac’s updated Mineral Resource estimates show a significant expansion of open pit mineralization compared to previous 2022 estimates.
As a result, Nighthawk Gold’s stock price rose 12.94% last week to reach C$0.48.
Data for the weekly top 5 stories of TSX performers are captured every Friday after the market close using TradingView. stock screenerOnly companies with market capitalization above C$50 million prior to the week’s rise are included. Companies within non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Priscilla Barrera, do not make direct investments in the companies mentioned in this article.
Editor’s Disclosure: Aclara Resources is a client of Investing News Network. This article is not paid content.
