bestperformingstocks
Welcome to the Investing News Network's weekly look at the best-performing junior mining stocks on the TSX Venture Exchange, starting with a round-up of Canadian and US market data impacting the resource sector. The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 15.98 points last week to close at 580.09. Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) closed at a new all-time high mid-week, but ended the period flat. Statistics Canada released its June consumer price index (CPI) figures this past Tuesday (July 16). The data shows that inflation continued to cool, with 2.7 percent g...
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Global demand for lithium-based power presents a significant opportunity for Australia, the top lithium-producing nation. As countries and companies establish their positions in the battery value chain, Australia has the ability to leverage its strong output and vast reserves to shape the industry landscape into the 2030s. The future of lithium demand relies heavily on the growth of the electric vehicle (EV) market, and in recent years its rapid expansion has led to much higher mining of the commodity — so much so that the market has entered a surplus. This oversupply kept lithium prices subdu...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 7.94 points last week to close at 593.7. US Federal Reserve Chair Jerome Powell met with lawmakers this past week, addressing the US Committee on Banking, Housing and Urban Affairs on Tuesday (July 9) and the House Financial Services Committee on Wednesday (July 10). In his testimony on Tuesday, Powell reiterated the Fed’s stance that before cutting interest rates it will continue to wait for more data showing that inflation is sustainably moving to its 2 percent target. He also acknowledged that the labor market is weakening, but said t...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 0.89 points last week to close at 569.82. The US Bureau of Economic Analysis released its latest personal consumption expenditures (PCE) data this past Friday (June 28) in its Personal Income and Outlays report. The PCE minus food and energy is the favored index of the US Federal Reserve. The report stated that the PCE price index rose 2.6 percent year-over-year in May, and increased just 0.1 percent month-over-month compared to April. This year-over-year increase marks the lowest since March of 2021, the last time it was below the central...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 3.38 points last week to close at 570.71. Statistics Canada released its mining statistics for 2022 this past Thursday (June 20). The data shows that metal ore mining brought in C$39.11 billion to the economy for the year, an increase of around C$636.8 million from 2021. Leading the way were the base metals copper, nickel, lead and zinc with C$13.2 billion in combined revenue; nickel-copper ore mining headlined the section with revenue of C$7.23 billion. Its own category, iron ore mining brought in C$10.65 billion in revenue, while revenue...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 14.16 points last week to close at 574.09. Markets saw a significant recovery this past Wednesday (June 12) following the release of the latest US consumer price index (CPI) data and the US Federal Reserve’s interest rate policy decision. The May CPI figures show a 0 percent change month-on-month and a 3.3 percent increase on an annual basis. Those are declines from April’s 0.3 percent monthly increase and 3.4 percent year-on-year figure. The improved inflation data wasn’t enough to sway the Fed, and after wrapping up its meeting it said i...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined 23.41 points last week to close at 588.25. Gold was under pressure following reports on Friday (June 7) that the People’s Bank of China paused purchases of gold in May, ending an 18 month spree. Central bank buying has provided critical support for gold in 2023 and 2024. In the first quarter of the year, China added 189 metric tons (MT) of the yellow metal to its reserves, but as gold sector expert Jan Nieuwenhuijs notes in a May 22 article, much of the Asian nation's buying has gone unreported. Gold saw additional losses on Friday as ...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 3.71 points last week to close at 611.66. Statistics Canada released Q1 gross domestic product (GDP) numbers this past Friday (May 31). In the report, the agency said real GDP rose 0.4 percent quarter-over-quarter, up from 0.2 percent in the fourth quarter of 2023. A contributing factor was higher household spending on services, but growth was moderated by slower inventory accumulations. GDP for the mining, quarrying and oil and gas sector decreased by 0.5 percent in March, with a 3.9 percent decline in mining and quarrying, the biggest ...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95. Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March. Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37. South of the border, t...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17. Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange. The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings see...
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