The S&P/TSX Composite Index (INDEXTSI:OSPTX) rose 3.24 percent last week, ending at 20,547.66
Oil prices were on the rise during the period, buoyed by comments from Russian Deputy Prime Minister Alexander Novak. He said on Thursday (August 31) that Russia has agreed with OPEC+ countries on parameters for continued export cuts. The details will reportedly be announced this coming week, and could see voluntary reductions remain in place until October.
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. Bonterra Energy (TSX:BNE)
Weekly gain: 18.82 percent; market cap: C$284.55 million; current share price: C$7.64
Conventional oil and gas company Bonterra Energy is focused on Western Canada with assets in the provinces of BC, Alberta and Saskatchewan. The company describes itself as one of the largest operators in the Pembina Cardium, an oil field in Alberta, and is interested in properties with long-life reserves and large amounts of oil still remaining.
There was no fresh news from the company last week, but shares rose 18.82 percent to end at C$7.64.
2. Pieridae Energy (TSX:PEA)
Weekly gain: 16.36 percent; market cap: C$101.75 million; current share price: C$0.64
Pieridae Energy is an upstream and midstream energy company that has honed its efforts on exploring, extracting and processing sweet and sour natural gas and natural gas liquids. Its assets cover more than a million gross acres in Alberta’s Canadian Foothills region, and it owns and operates three major sour gas processing complexes.
Last Tuesday (August 29), the company announced the appointment of Darcy Reding as president, CEO and director effective on Friday (September 1). The news helped Pieridae rise 16.36 percent to finish at C$0.64.
3. Touchstone Exploration (TSX:TXP)
Weekly gain: 15.45 percent; market cap: C$296.5 million; current share price: C$1.27
Oil and natural gas explorer and producer Touchstone Exploration operates in Trinidad and Tobago, where it says it is one of the biggest independent onshore oil producers. The company is also interested in properties in other areas with stable political and fiscal regimes, as well as reservoirs with large amounts of defined petroleum initially in place.
Touchstone’s latest news came on August 24, when it provided updates on production testing at the Royston-1X well, commissioning of its Cascadura natural gas and liquids facility and work at its Coho facility. Although it didn’t share any additional news last week, its share price jumped 15.45 percent to close at C$1.27 for the period.
4. Global Atomic (TSX:GLO)
Weekly gain: 14.38 percent; market cap: C$337.76 million; current share price: C$1.67
Global Atomic has two divisions focused on uranium mine development and zinc concentrate production.
Its uranium division includes its flagship Dasa project in Niger, which is fully permitted for commercial production. Meanwhile, the company’s base metals division holds a 49 percent stake in the Befesa Silvermet Turkey joint venture, which runs a zinc production plant. Befesa Zinc owns the other 51 percent and is the operator of the asset.
Global Atomic hasn’t released news since August 10, but it went up last week by 14.38 percent to hit C$1.67.
5. Obsidian Energy (TSX:OBE)
Weekly gain: 14.11 percent; market cap: C$799.19 million; current share price: C$9.95
Obsidian Energy describes itself as an intermediate-sized oil and gas producer. Capable of producing about 32,000 barrels of oil equivalent per day, the company operates mainly in Alberta’s Peace River, Cardium and Viking areas.
The company’s share price rose 14.11 percent last week to end at C$9.95 although it didn’t release any news.
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.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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