The S&P/TSX Composite Index (INDEXTSI:OSPTX) opened lower last Friday (September 17), trading at 20,468.99 by midday. It closed the five day period at 20,492.93.
The index was on track to hit its third weekly decline in a row, with investors cautious ahead of the upcoming US Federal Reserve meeting next week.
On Friday, gold and silver were also on course for a weekly decline as the US dollar rebounded.
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Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- SouthGobi Resources (TSX:SGQ)
- Peyto Exploration (TSX:PEY)
- Obsidian Energy (TSX:OBE)
- Crew Energy (TSX:CR)
- Baytex Energy (TSX:BTE)
Here’s a look at those companies and the factors that moved their share prices last week.
1. SouthGobi Resources
Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of the China-Mongolia border.
The company also holds mining and exploration licenses for other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.
Despite not releasing news last week, shares of SouthGobi Resources increased 34.62 percent, and were trading at C$0.35 by the end of the week.
2. Peyto Exploration
Peyto Exploration is an explorer and producer of unconventional natural gas in Alberta’s Deep...
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