The TSX-listed resource juniors on our list have seen their stock prices rally at least 6% over the past week, while the S&P 500 fell ~12%
SmallCapPower | March 4, 2020: North American stock markets experienced one of the largest one-week losses in history last week, with the S&P 500 falling ~12%. Amid the turmoil, there have been some resource stocks that have outperformed the market. Today we have unearthed four TSX-listed resource juniors that have experienced increased price and volume momentum, with a seven-day, stock-price return greater than 10%. Price and volume momentum are a good indicator of bullishness, as increased share prices on larger volumes show heightened investor interest in a stock.
*Share prices as at March 2, 2020, data obtained from S&P Capital IQ
Balmoral Resources Ltd (TSX:BAR) – $0.475
Metals and Mining
Balmoral Resources is a junior resource company currently focused on the exploration and development of high-grade gold and base metals assets in major Canadian mining districts. The Company holds interests in each of the Fenelon, N2, and Martiniere Properties. The Fenelon Property is centrally located within the Company’s Detour Trend Project, over 65 kilometers east of the Detour Gold Deposit. The N2 Property is strategically located along the gold-bearing Casa Berardi Deformation Zone immediately east of the former-producing Vezza gold deposit in northern Quebec. The Martiniere Property is centrally located within the Company’s Detour Trend Project, over 45 kilometers east of the Detour Gold Deposit located in northeastern Ontario. BAR also holds an interest in the Northshore property in Ontario along with various surface rights attached to the property, located along the southern margin of the Hemlo-Schreiber greenstone belt. Balmoral announced recently a strategic investment from Eric Sprott, which has contributed to the rally in the Company’s share price over the past month. Then on March 2, 2020, Wallbridge Mining Company Limited (TSX:WM) announced that it has agreed to acquire Balmoral in an all-stock transaction valued at approximately C$110 million.
- Market Cap: $84.7M
- 7-Day Return: +18.8%
- 90-Day Return: +53.1%
- 7-Day Average Trading Volume: 1,455,430
- 30-Day Average Trading Volume: 652,950
Talon Metals Corp. (TSX:TLO) – $0.115
Metals and Mining
Talon is a Canada-listed company focused on producing nickel responsibly for the electric vehicles industry. The Company’s main focus is the exploration and development of the Tamarack Project, which contains nickel-copper-platinum group elements (PGE) and is located in Minnesota. The Company also holds 100% interest in the Trairão Iron Project, located in Pará State, Brazil, which hosts an Indicated resource of approximately 1.4B tonnes at an average grade of 34.27% Iron (using a 25% Iron cut-off), and an Inferred resource of an additional 1.2B tonnes at an average grade of 29.48% Fe (using a 25% Iron cut-off).
- Market Cap: $56.8M
- 7-Day Return: +9.5%
- 90-Day Return: -20.7%
- 7-Day Average Trading Volume: 197,630
- 30-Day Average Trading Volume: 138,530
Star Diamond Corporation (TSX:DIAM) – $0.405
Metals and Mining
Star Diamond Corporation is a natural resource company, which engages in the acquisition, exploration, and development of mineral properties in Canada. The Company explores primarily for diamonds. It holds 100% interests in the Star-Orion South Kimberlite property that is in the Fort à la Corne kimberlite field in central Saskatchewan; and has a 33% interest in the Buffalo Hills property located in Alberta.
- Market Cap: $173.5M
- 7-Day Return: +6.6%
- 90-Day Return: +5.0%
- 7-Day Average Trading Volume: 559,470
- 30-Day Average Trading Volume: 416,610
Josemaria Resources Inc. (TSX:JOSE) – $0.71
Metals and Mining
Josemaria Resources, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in South America. The Company explores for copper, gold, and silver deposits. Its core assets include the 100% owned Josemaria project located in the San Juan province, Argentina; and 63% owned Los Helados project located in the Andes Mountains of the Atacama Region, Chile.
- Market Cap: $178.1M
- 7-Day Return: +6.0%
- 90-Day Return: +27.3%
- 7-Day Average Trading Volume: 308,030
- 30-Day Average Trading Volume: 172,520
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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