Last week’s top-gaining stocks on the TSX were NioCorp, I3 Energy, Marimaca Copper, Baytex Energy and Obsidian Energy.
On Thursday (February 25), the index posted its worst day in nearly a month as weaker oil prices put pressure on energy stocks.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- NioCorp Developments (TSX:NB)
- I3 Energy (TSX:ITE)
- Marimaca Copper (TSX:MARI)
- Baytex Energy (TSX:BTE)
- Obsidian Energy (TSX:OBE)
Here’s a look at those companies and the factors that moved their share prices last week.
1. NioCorp Developments
NioCorp Developments is developing a superalloy materials project in Southeast Nebraska that will produce niobium, scandium and titanium.
It was a busy week for NioCorp, which on Monday (February 22) formally exercised an option-to-purchase agreement on a key land parcel associated with the company’s Elk Creek superalloy materials project. A day after, the company signed a contract with Cementation USA to continue advancing detailed engineering work associated with the Elk Creek superalloy materials project.
Following the news, NioCorp’s share price jumped 49.41 percent to end the week at C$1.27.
2. I3 Energy
i3 Energy is an oil and gas company with assets and operations in the UK and Canada. On Tuesday (February 23), the company announced its interim operational results, saying production was predictably stable; it averaged 9,150 barrels of oil equivalent per day from November 2020 to January 2021.
Last week, the company’s share price increased 31.82 percent to hit C$0.14.
3. Marimaca Copper
Copper-focused Marimaca is developing the Marimaca project, which it says is one of the largest copper discoveries in Northern Chile.
The company did not release any news last week, but shares of Marimaca Copper increased 25.19 percent to end at C$4.87.
4. Baytex Energy
Baytex Energy is an oil and gas company engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the US.
Last Wednesday (February 24), the company reported its operating and financial results for the three months and year ended December 31, 2020, showing that production was in line with guidance. Last week, Baytex Energy’s share price increased 23.23 percent to end the five day period at C$1.22.
5. Obsidian Energy
Obsidian Energy is an intermediate-sized oil and gas producer with a portfolio of high-quality assets producing over 25,000 barrels of oil equivalent per day.
Last week, the company saw its share price go up by 20.71 percent to reach C$1.69.
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.
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.