The index hit another record closing high on the last trading day of the week. US Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium pointed to no rush to tighten monetary policy.
On Friday, gold and silver also gained on the back of Powell’s comments, while the US dollar weakened.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
Here’s a look at those companies and the factors that moved their share prices last week.
Gold exploration company Moneta Gold, formerly Moneta Porcupine, is focussed on developing its flagship gold project, the multi-million ounce Tower gold project created by the combination of the adjacent Golden Highway and Garrison deposits.
On August 24, the company announced its name change and completion of consolidation of its issued and outstanding common shares. As a result, over the five-day period, Moneta Gold’s share price jumped 593.75 percent to end the week at C$2.22.
St Augustine Gold and Copper
St. Augustine is focused on the development of the King-king copper-gold project. King-king’s mineral reserve amounts to 617.9 million tonnes at 0.300 percent total copper and 0.395 gold per tonne gold. The company is currently completing a bankable feasibility study on the King-king Project and published a Preliminary Feasibility Study in November 2013.
St Augustine Gold and Copper did not release any news last week, but its share price increase 38.46 percent to C$0.09.
Integrated coal supplier SouthGobi is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 km north of China-Mongolia border. The company also holds the mining and exploration licences of other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.
Over the five-day period, the company’s share price jumped 33.33 percent to end the week at C$0.26.
Great Panther is a gold and silver producer focused on the Americas. The company owns a diversified portfolio of assets in Brazil, Mexico and Peru that includes three operating gold and silver mines, three exploration projects, and an advanced development project.
Great Panther did not release any news last week, but’s share price jumped 28.30 percent to end the week at C$0.68.
New Pacific is an exploration and development company which owns the flagship Silver Sand project, located in the Potosi Department of Bolivia; the Silverstrike project, in the La Paz Department of Bolivia; and the Carangas project in the Oruro Department of Bolivia.
Last week, New Pacific saw its share price increase 26.32 percent to C$4.80.
Data for 5 Top TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $50 million prior to the week’s gains are included. Companies within process industries, energy minerals and non-energy minerals sectors are considered.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Moneta Gold is a client of the Investing News Network. This article is not paid-for content.
The post 5 Top Weekly TSX Stocks: Gold and Silver Stocks Up After Fed Meeting appeared first on Investing News Network.
Peloton Mineral’s Elephant Hunt for Copper in Montana Becomes Possible With Modern Technology
Ted Ellwood had his eye on the Boulder copper porphyry project in southwestern Montana for more than ten years…
Watching Equinox Gold Corp. (EQX) For Insider Activity
Equinox Gold Corp. (AMEX:EQX) traded with a subtraction of -$0.15 to $3.36 on Thursday, a downside of -4.42 percent. An average of 1,926,822 shares of…
Skeena rallies on Eskay feasibility news
Skeena Resources Ltd. [SKE-TSXV, SKREF-OTCQX, RXFB-FRA] shares rallied Thursday after the company tabled results of…
Economics22 hours ago
How Could We Have Been So Naive About Big Tech?
Energy & Critical Metals3 hours ago
We need 10 new REE mines by 2030 to meet magnet rare earths demand
Economics9 hours ago
2022-2030: Transformation Or Stagnation?
Economics3 hours ago
Recession vs Inflation: Why the Fed is making a monster to fight a monster
Base Metals2 hours ago
Office Tenants Could Be Liable for a Building’s Carbon Footprint
Economics4 hours ago
Dow Jones, the S&P 500, and Nasdaq forecast after another 75bp rate hike
Economics2 hours ago
Meloni’s Right-Wing Alliance Wins Clear Majority In Italian Elections
Uncategorized50 mins ago
Lode follows the silver in next stage for Webbs Consol