The S&P/TSX Composite index (INDEXTSI:OSPTX) rose 4.9 percent in March, its largest increase since October 2011. However, it fell last Friday as oil and gold prices dropped on the release of US jobs data – the index closed down 0.4 percent, or 53.92 points, at 13,440.44 points.
The top-gaining stock on the TSX last week was Americas Silver (TSX:USA), and it was followed by Caledonia Mining (TSX:CAL,LSE:CMCL), Arizona Mining (TSX:AZ), Teranga Gold (TSX:TGZ,ASX:TGZ) and Kinross Gold (TSX:K,NYSE:KGC). Here’s a look at what moved their share prices during the period.
Americas Silver
As mentioned, last week’s biggest gainer on the TSX was Americas Silver, whose share price rose 21.62 percent to reach $0.23. The company has two producing mines, plus a third mine in development and an advanced-stage exploration project.
Last week’s rise in share price came after the company put out a press release covering a slew of news. It released its financial and operational results for Q4 2015 and the full 2015 year, and also provided an updated resource and reserve estimate for its San Rafael project. Finally, it put out a prefeasibility study for San Rafael.
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Caledonia Mining
Exploration, development and mining company Caledonia Mining is focused mainly on the Zimbabwe-based Blanket gold mine, in which it holds a 49-percent stake. Blanket restarted production in April 2009, and since then an expansion project has been completed at the mine.
The company’s share price rose 18.28 percent last week to hit $1.10, though it released little news of note. CEO Steve Curtis exercised options over 65,000 common shares of Caledonia, while Non-executive Director John Kelly purchased shares of the company on two occasions.
Arizona Mining
Arizona Mining is focused on the exploration and development of its Arizona-based Hermosa project, which contains the Taylor