Last week’s top-gaining stocks on the TSX were Inplay Oil, Bengal Energy, i3 Energy, Journey Energy and Athabasca Oil.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (June 18), trading at 20,010.46. It closed the period slightly under that level at 20,009.17.
Despite lower oil prices, which weighed on energy stocks on the week’s last day of trading, some energy companies took the lead as weekly top performers on the TSX.
Meanwhile, the gold price rose over 1 percent on Friday as the US dollar’s rally paused. The greenback hit a two month high during the previous session after the US Federal Reserve projected the first post-pandemic interest rate hikes by 2023.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Inplay Oil (TSX:IPO)
- Bengal Energy (TSX:BNG)
- i3 Energy (TSX:ITE)
- Journey Energy (TSX:JOY)
- Athabasca Oil (TSX:ATH)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Inplay Oil
InPlay Oil is a light oil development and production company based in Calgary, Alberta. The company’s activity is focused on large oil in place pools with low recovery factors, low declines and long-life reserves; it is primarily targeting the Cardium Formation in Alberta.
Last Monday (June 14), Inplay Oil announced an extension of its credit facility. During the period, the company saw its share price increase 22.47 percent to C$1.09.
2. Bengal Energy
International oil and gas exploration and production company Bengal Energy has producing and prospective light oil-weighted onshore assets in Australia’s Cooper Basin.
Despite not releasing news last week, Bengal Energy jumped 16.67 percent to end the week at C$0.10.
3. i3 Energy
i3 Energy is an oil and gas company with assets in the UK and Canada. On June 17, the company provided an operational update, discussing topics including production acquisition, a proposed dividend and a new corporate presentation.
The same day, i3 Energy announced the 2020 year-end reserves for its subsidiary, i3 Energy Canada. Over the five day period, the company’s share price jumped 16.67 percent to end the week at C$0.17.
4. Journey Energy
Journey Energy is an exploration and production company focused on oil-weighted operations in Western Canada. It operates in the central region, south region and Resource Fairway in Alberta.
Despite not releasing any news last week, Journey Energy shares increased 14 percent to C$1.14.
5. Athabasca Oil
Alberta-based energy company Athabasca Oil is focused on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the company has a significant land base of extensive, high-quality resources.
Last week, shares of Athabasca Oil increased 13.75 percent to end at C$0.91.
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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Source – investingnews.com