5 Top Weekly TSX Stocks: Avalon Advanced Materials Up on Acquisition News

Last week’s top-gaining stocks on the TSX were Avalon Advanced Materials, Forsys Metals, Nevada Copper, Orosur Mining and Almonty.

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The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending up at midday on Friday (February 19), at 18,347.33, but closed slightly higher at 18,386.96. 

Last week, gold was on the rebound as the US dollar weakened, while silver was on track for its second weekly gain. On the base metals front, all eyes were on copper, which hit a nine year high as Chinese markets reopened following Lunar New Year celebrations.

The five TSX-listed mining stocks that saw the biggest gains last week are as follows:

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• Avalon Advanced Materials (TSX:AVL)
• Forsys Metals (TSX:FSY)
• Nevada Copper (TSX:NCU)
• Orosur Mining (TSX:OMI)
• Almonty Industries (TSX:AII)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Avalon Advanced Materials

Avalon Advanced Materials has four advanced-stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids lithium project near Kenora, Ontario, while looking at several new project opportunities, including reactivating its 100 percent owned Lilypad cesium-tantalum project in Northwestern Ontario.

Last Monday (February 15), the company announced an agreement to acquire the right to the title of a closed mine site with rare earths recovery potential. Following the news, Avalon Advanced Materials’ share price jumped 84.21 percent to end the week at C$0.35.