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5 Top Weekly TSX Stocks: Condor Energies Up After Receiving Lithium Mining License

The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened down last Friday (August 4) at 20,120.74.

The index was on track for another weekly loss, hitting a three week low as bond yields rose. The summer is also a volatile season for stocks, and the technology and utilities sectors saw some pressure last week.

Looking over to commodities, gold fell to US$1,930 per ounce, with silver following suit and declining to US$23 per ounce.

Against that backdrop, some resource juniors listed on the TSX saw their share prices go up last week. Here’s a look at the five biggest gainers and the factors that moved their share prices during the period.

1. Verde Agritech (TSX:NPK)

Company Profile

Leading this week’s top TSX stocks list is Verde Agritech, whose share price increased 28.98 percent to end at C$3.65.

Verde Agritech is developing its Cerrado Verde project in Brazil. The project is the source of a potassium-rich deposit from which the company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability. On July 27, the company said it is in advanced negotiations to sell carbon credits to major international corporations that are established purchasers of permanent carbon offsets.

2. St. Augustine Gold and Copper (TSX:SAU)

Company Profile

St. Augustine Gold and Copper is focused on the development of the King-king copper-gold project. The asset is one of the largest undeveloped copper-gold deposits in the world and is a top-priority mining project for the Philippine government.

Last week, shares of St. Augustine Gold and Copper jumped 25 percent to end at C$0.10.

3. Mega Uranium (TSX:MGA)

Press ReleasesCompany Profile

Headquartered in Toronto, Mega Uranium is focused on uranium properties in Canada and Australia. Mega Uranium also has a portfolio of equity investments in uranium-focused public and private companies.

The company didn’t release any news last week, but shares of Mega Uranium rose 19.51 percent to end at C$0.24.

4. Aclara Resources (TSX:ARA)

Press ReleasesCompany Profile

Aclara Resources is a development-stage company focused on heavy rare earths. Its primary project, called the Penco Module, is located in the BioBio region of Southern Chile. The Penco Module covers about 600 hectares, and according to the company contains ionic clays that are rich in heavy rare earths.

Last week, shares of Aclara Resources increased 13.89 percent to end the five day period at C$0.41.

5. Condor Energies (TSX:CDR)

Company Profile

Condor Energies is an internationally focused energy company with producing gas assets, an ongoing initiative to construct and operate Central Asia’s first liquefied natural gas facility and another initiative focused on gas field redevelopment.

Last Tuesday (August 1), the company announced that it has been awarded a contiguous 37,300 hectare lithium brine mining license by the Kazakhstan government. Condor Energies intends to produce the lithium using closed-looped direct lithium extraction technologies. Last week, shares of the company increased 12.84 percent to end at C$1.67.

FAQs for TSX stocks

How big is the TSX?

The TSX is Canada’s biggest stock exchange, and as of June 16, 2023, it had 1,789 listed stocks for a total market value of more than C$3.792 trillion. The TSX is often ranked as one of the 10 largest stock exchanges in the world.

Why do companies list on the TSX?

Listing on one of the world’s largest stock exchanges provides companies with greater market exposure, the ability to raise capital and an opportunity to build a strong financial reputation. In its technical guide to listing, the TSX states the exchange “offers companies a dynamic market to raise capital, enhanced liquidity, specialized indices, visibility and analyst coverage.’

What sectors are included in the S&P/TSX Composite Index?

The S&P/TSX Composite Index tracks more than 230 constituents across a wide range of sectors, of which the top five by weight are: financials (30.1 percent), energy (16.6 percent), industrials (14 percent), information technology (7.7 percent) and materials (11.9 percent).

What was the highest point for the TSX?

The TSX hit a record high of 22,213.07 points in April 2022. While the exchange was at 19,970 points as of June 16, 2023, there are high expectations that the TSX could move past the 22,000 level by the end of 2023 to set new record highs.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday after market close 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.

Article by Priscila Barrera; FAQs by Melissa Pistilli.

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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