Last week’s top-gaining mining stocks on the TSX were Titan Mining, TransGlobe Energy, Pieridae Energy, Belo Sun Mining and Forza Petroleum.
Data from Statistics Canada shows that the country added 157,000 new jobs in September, ahead of the 60,000 expected by economists. The increase puts numbers back to where they were before the COVID-19 pandemic began, although many people are still working fewer hours than they would normally.
Canada’s jobless rate now stands at 6.9 percent, the lowest level since the coronavirus started to spread.
Last week’s five TSX-listed mining stocks that saw the biggest share price gains are as follows:
- Titan Mining (TSX:TI)
- TransGlobe Energy (TSX:TGL)
- Pieridae Energy (TSX:PEA)
- Belo Sun Mining (TSX:BSX)
- Forza Petroleum (TSX:FORZ)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Titan Mining
Titan Mining produces zinc concentrate at its wholly owned Empire State mine located in New York state.
Last Tuesday (October 5), the company commented on its recent share price activity at the request of Investment Industry Regulatory Organization of Canada. It said it is not aware of any material, undisclosed information that would have caused the increase, although a strong end to the year is expected. Titan’s share price rose 50 percent last week to close at C$0.52.
2. TransGlobe Energy
Oil exploration and production company TransGlobe Energy has focused its activities in Canada and Egypt. It didn’t release any news last week, but shares rose 37.76 percent to finish at C$3.94.
3. Pieridae Energy
Pieridae Energy has honed its efforts on developing integrated energy-related activities, from exploring and extracting natural gas to moving forward at the Goldboro liquefied natural gas facility; it is also interested in producing liquefied natural gas for sale to Europe and other markets.
The company didn’t release any news last week, but shares rose 26.83 percent to hit C$0.52.
4. Belo Sun Mining
Belo Sun Mining has a portfolio of gold assets in Brazil, and is currently developing the Volta Grande project. The property has faced hurdles in the past, but a corporate update released during the summer indicates that the company remains positive about its future.
There was no fresh news from Belo Sun last week, but shares rose 23.81 percent to finish at C$0.52.
5. Forza Petroleum
Forza Petroleum is an oil explorer, developer and producer with a 65 percent working interest in the Hawler license area in Iraq’s Kurdistan region. It has yielded oil discoveries in four areas, three of which are contributing to production while appraisal and development activity continues.
Shares of Forza went up 23.81 percent last week, hitting C$0.13, although it did not release any news.
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, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.