Sierra Metals Inc. (TSX:SMT) has been blazing a trail up the stock market leader boards for the week, having recorded a whopping gain of nearly 40% for investors since the markets opened on Monday.
This impressive growth is due in no small part to the positive news Sierra Metals released on Monday that Q3 revenue increased by a massive 34%. The massive jump in revenue is attributed to higher grades of ore shafted, lower operating costs, and an increase in production.
The massive jump made Sierra Metals Inc. the top performing stock on the TSX for the week and investors have been flocking to the copper, zinc, and precious metals producer in light of the news. With this week’s 40% bump, the company’s share price stands at $1.78 – boasting a year-on-year increase of 84%. The future looks bright for the company as production continues to increase, operating costs remain down, and the demand for copper and zinc is expected to inch upward in the near term.
Investors who were looking for significant growth opportunities this week saw it in other TSX stocks outside of Sierra Metals. Here are the leading stocks and their respective returns:
Lundin Mining Corp (TSX:LUN): 24.4%;
Trevali Mining Corporation (TSX:TV): 22.7%;
First Quantum Minerals Ltd (TSX:FM): 19.6%;
Playfair Mining Limited (TSX-V:PLY): 17.3%.
Looking forward, investors should keep a close eye on these stocks as some of them could be primed for further growth based on the latest news circulating in the market. With some positive news, these stocks could continue to outperform and offer long-term gains in the coming weeks.
It is important to note that investing in the stock market is a risky endeavor and investors should only put their money into the stocks they are most confident in. Though investing in these TSX stocks, especially Sierra Metals Inc., are likely to reap significant returns in the short-term, it is important to remember that no investment comes without risk.
“Soaring Stocks: Sierra Metals Jumps 40% to Lead TSX’s Top 5 Weekly Performers
