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Summary
- This Canadian uranium company is set to see its stocks get added to the S&P/TSX Composite Index on Monday, March 22.
- This company launched a bought deal offering of 33.4 shares, at a price of C$ 4.5 apiece, to raise gross proceeds of about C$ 150 million in February.
- This stock recorded a growth of nearly 148 per cent over the past year and of nearly four per cent this month.
After a trouble-riddled year of pandemic in 2020, many companies are registering a recovery in their operations as well as stock performance. As a result, their stocks are cropping up on the trending charts of the Toronto Stock Exchange (TSX). On that note, let us explore three TSX-listed stocks that currently trending high on the bourse. Denison Mines Corp (TSX:DML), NexGen Energy Ltd (TSX:NXE) and Liberty Gold Corp (TSX:LDD).
Denison Mines Corp (TSX:DML)
Current Stock Price: C$ 1.43
Canadian uranium company Denison Mines Corp, which deals in the exploration, development and production of the metal, is set to see its stocks get added to the S&P/TSX Composite Index on Monday March 22.
After the mining company made the announcement last week on March 15, Denison shares jumped by about 15 per cent in intraday session.
©Kalkine Group 2021
Denison stocks registered a growth of over 70 this year and that of over five per cent month-to-date (MTD). In the last one year, the scrip has expanded by nearly 347 per cent. The uranium miner presently holds a market capitalization of about C$ 1.13 billion, as per TMX data.
The Toronto-headquartered mining company is currently working on the construction of the Wheeler River uranium project based in Saskatchewan’s Athabasca Basin. The project, with two high-grade uranium deposits reportedly holding about 109.4 million pounds of U3O8, has been dubbed as the largest undeveloped uranium project of the region.
Denison president and CEO David Cates said in a recent press release that the company is “well positioned” to support the cause of renewable energy via its Wheeler River project.
©Kalkine Group 2021
NexGen Energy Ltd (TSX:NXE)
Current Stock Price: C$ 4.71
NexGen Energy Ltd launched a bought deal offering of 33.4 shares, at a price of C$ 4.5 apiece, to raise gross proceeds of about C$ 150 million in February. The offering saw a host of underwriters headed by financial service providers BMO Capital Markets and Canaccord Genuity Corp.
Also a uranium miner like Denison Mines, NexGen was founded in 2011 and is currently based in Vancouver. The C$ 1.96-billion market cap company said that it will invest the proceeds generated from the bought deal offering in the development of its Rook I uranium project and general working capital.
NextGen stocks have surged by nearly 448 per cent over the past year. The stock grew over 34 per cent year-to-date (YTD) and over five per cent this month.
Liberty Gold Corp (TSX:LDD)
Current Stock Price: C$ 1.43
Liberty Gold is focused on gold projects that are based in the Great Basin of the United States. Its flagship projects include the Black Pine mine in Idaho and the Goldstrike mine in Utah.
In January, Liberty Gold announced that it has exercised all the warrants that were issued in a private placement funding in 2018 for the total proceeds of over C$ 8.1 million. The Vancouver-based company said that it will use the capital to invest in its Black Pine project further and to fund its working capital needs.
Liberty Gold stocks recorded a growth of nearly 148 per cent over the past year and of nearly four per cent this month.
