5 Top Weekly TSX Stocks: Base Metals Up on Weaker Dollar

copper free industry report

The S&P/TSX Composite Index (INDEXTSI:OSPTX) ended last week slightly down at 15,121.62 points, a loss of 0.41 percent.

The index fell on Friday (July 28) even though US GDP data showed strong economic growth. Meanwhile, the gold price jumped that day, and was on track for its third weekly gain, boosted by the GDP report and a weaker US dollar. A softer greenback makes commodities priced in dollars cheaper for buyers using weaker currencies.

Looking over to base metals, copper prices hit a two-year high last week, supported by forecasts of higher demand in top consumer China and also by weakness in the dollar.

Against that backdrop, a number of TSX-listed stocks in the mining sector saw share price increases. The top five gainers are as follows:

Largo Resources (TSX:LGO)
Nemaska Lithium (TSX:NMX)
Hudbay Minerals (TSX:HBM)
Coro Mining (TSX:COP)
Amerigo Resources (TSX:ARG)

Without further ado, here’s a look at what moved their share prices last week.

table.inline-text-ad {
border-left: none;
border-right: none;
}

.inline-text-ad h1 {
font-size: 18px !important;
font-weight: bold !important;
}

.inline-text-ad p {
font-size: 1.0rem;
}

Is the “looming copper supply crunch” fact or fiction? It’s time to debunk a few industry myths.

Learn everything an investor needs to know about copper supplies and demands. Click below for a FREE industry report on copper investing.

Get My Free Report
Click here to download for free

Largo Resources

Largo Resources is a strategic minerals company focused on the production of vanadium pentoxide at its Brazil-based Vanadio de Maracas Menchen mine. Largo also has interests in a number of other projects, including the Currais Novos tungsten tailings project and the Campo Alegre de Lourdes iron-vanadium project; both are located in Brazil. In addition, Largo Continue Reading

Comments are closed.