5 Prime Weekly TSX Performers: Entree and Turquoise Hill Up After Oyu Tolgoi Information


The S&P/TSX Composite Index (INDEXTSI:OSPTX) was buying and selling at 20,433.99 within the early morning final Friday (January 28). It closed the 5 day interval larger at 20,736.67.

That mentioned, the index was hit total as gold and expertise shares declined on the again of hawkish alerts from the US Federal Reserve and the Financial institution of Canada. Wanting over to commodities, gold and silver fell on Friday because the US greenback strengthened after expectations of a Fed fee hike in March elevated.

Regardless of the turmoil, numerous corporations noticed their share costs improve in the course of the buying and selling week. Final week’s 5 TSX-listed mining shares that noticed the largest positive aspects are as follows:

  • Forza Petroleum (TSX:FORZ)
  • Entree Assets (TSX:ETG)
  • Turquoise Hill Assets (TSX:TRQ)
  • Obsidian Vitality (TSX:OBE)
  • Gear Vitality (TSX:GXE)

Right here’s a take a look at these corporations and the components that moved their share costs final week.

1. Forza Petroleum

Forza Petroleum is a global oil exploration, improvement and manufacturing firm. It has a 65 p.c taking part curiosity in and operates the Hawler license space within the Kurdistan area of Iraq.

The corporate has not launched any information since November 2021. Final week, shares of Forza Petroleum elevated 31.58 p.c to commerce at C$0.25 by the top of the week.

2. Entree Assets

Entree Assets owns a novel carried three way partnership curiosity on a good portion of one of many world’s largest copper-gold tasks: the Oyu Tolgoi undertaking in Mongolia. Entree has a 20 p.c or 30 p.c carried taking part curiosity within the Oyu Tolgoi three way partnership, relying on the depth of mineralization.

Sandstorm Gold (TSX:SSL,NYSE:SAND), Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and Turquoise Hill Assets are main Entree shareholders, holding about 23 p.c, 9 p.c and eight p.c of the corporate, respectively.

Final Monday (January 24), Turquoise Hill introduced the beginning of the underground mine at Oyu Tolgoi, plus a renewed partnership with the Mongolian authorities and a complete funding association for Oyu Tolgoi. Entree shares elevated 17.33 p.c final week to finish at C$0.88.

3. Turquoise Hill Assets

Turquoise Hill Assets is targeted on the operation and continued improvement of the Oyu Tolgoi copper-gold mine in Mongolia, which is the corporate’s principal and solely materials mineral useful resource property.

Over the 5 day interval, shares of Turquoise Hill elevated 23.45 p.c to finish the week at C$10.15, following the above-mentioned replace on the Oyu Tolgoi mine.

4. Obsidian Vitality

Obsidian Vitality is an intermediate-sized oil and fuel producer with a portfolio of high-quality belongings producing over 25,000 barrels of oil equal per day.

Final Monday, the corporate revealed its 2022 steering and drilling plans. Obsidian Vitality rose 9.39 p.c to commerce at C$8.62 by the top of final week.

5. Gear Vitality 

Calgary-headquartered Gear Vitality is an oil firm targeted on operations in three core areas: Lloydminster heavy oil, Central Alberta light-medium oil and Southeast Saskatchewan gentle oil.

Final week, Gear Vitality noticed its share worth improve 6.48 p.c to C$1.15.

Information for five Prime Weekly TSX Shares articles is retrieved every Friday at 10:30 a.m. EST utilizing TradingView’s inventory screener. Solely corporations with market capitalizations better than C$50 million previous to the week’s positive aspects are included. Corporations inside the non-energy minerals and vitality minerals are thought-about.

Don’t neglect to observe us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, maintain no direct funding curiosity in any firm talked about on this article.

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