Obsidian Leads Power Corporations Increased
The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged up final Friday (February 24), closing at 20,219.19.
The index was pushed greater by a rally in power shares, which trended upwards on the again of upper oil costs.
Regardless of this enhance on Friday, the index was down for the week. Gold and silver costs additionally fell final week as traders continued to fret over the US Federal Reserve’s price hike path.
That mentioned, some useful resource juniors noticed their share costs go up final week, with treasured metals and power shares taking the lead. Right here’s a have a look at the highest gainers on the TSX and the elements that moved their share costs final week.
1. Obsidian Power
Taking the highest spot final week is Obsidian Power, an intermediate-sized oil and gasoline producer with a portfolio of belongings in Alberta, Canada, that produce round 33,000 barrels of oil equal per day.
Final Thursday (February 23), the company released its fourth quarter outcomes, reporting that its common manufacturing elevated 20 % from 2021. Shares of Obsidian Power elevated 17.69 % final week to finish at C$9.98.
2. St. Augustine Gold and Copper
St. Augustine Gold and Copper is targeted on the event of the King-king copper-gold challenge. The asset is among the largest undeveloped copper-gold deposits on the planet and is a prime three mining challenge precedence for the Philippine authorities.
Regardless of not releasing any information final week, shares of St. Augustine Gold and Copper elevated by 7.69 % to finish at C$0.07.
3. Valeura Power
One other energy-focused firm making the listing this week is Valeura Power, an upstream oil and gasoline firm headquartered in Calgary, Alberta. The corporate is growing belongings in Thailand and in Turkey, and can also be pursuing additional development in Southeast Asia by worldwide mergers and acquisitions.
Final week, shares of the corporate elevated 6.31 % to finish at C$2.36.
4. Steppe Gold
Treasured metals firm Steppe Gold is targeted on its one hundred pc owned asset in Mongolia, the ATO gold challenge.
Final Tuesday (February 21), the corporate updated the life of mine for ATO, including an additional 1.5 years for a 12 12 months combination mine life. Steppe Gold additionally announced plans to twin listing its shares on the Hong Kong alternate.
Final week, shares of Steppe Gold elevated 5.94 % to finish the 5 day interval at C$1.07.
5. Benefit Power
Final however not least this week is Benefit Power, which is targeted on growing its place within the Montney pure gasoline and liquids useful resource play. Final Thursday, the corporate printed its year-end results, posting file annual common manufacturing of 55,769 barrels of oil equal per day, a rise of 13 % over 2021.
Final week, shares of Benefit Power elevated 4.99 % to finish the 5 day interval at C$8.63.
Information for five High Weekly TSX Performers articles is retrieved every Friday after market shut utilizing TradingView’s stock screener. Solely corporations with market capitalizations higher than C$50 million previous to the week’s good points are included. Corporations inside the non-energy minerals and power minerals are thought-about.
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Securities Disclosure: I, Priscila Barrera, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Steppe Gold is a consumer of the Investing Information Community. This text will not be paid-for content material.
