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Highlights
- Western countries unleashed new banking sanctions against Russia as earlier imposed sanctions failed to prevent Russia from advancing its so-called “special” military operation in Ukraine.
- The new sanctions targeted Russia’s financial system by cutting some of its banks from the SWIFT framework.
- Investors should cautiously take any investment decisions considering the current market scenarios and the probable effects as the Russia-Ukraine war continues to disturb the global market sentiments.
Western countries have unleashed new banking sanctions against Russia as the ones imposed previously failed to discourage Russia from advancing its military attack on Ukraine.
The new sanctions reportedly target Russia’s financial system by cutting some of its banks from the SWIFT framework. This has intensified tensions across the financial world, with the Russian ruble plummeting sharply.
Let us look at how some top TSXV stocks are doing amid the Russia-Ukraine war.
1. ShaMaran Petroleum Corp (TSXV:SNM)
ShaMaran Petroleum, a junior oil producer, is a Lundin Group company that presently holds a return on equity (ROE) of 75.97 per cent.
The Vancouver, British Columbia-headquartered firm saw a total revenue of US$ 29.07 million in the quarter ending September 30, 2021, compared to that of US$ 15.35 million a year ago.
Stocks of ShaMaran Petroleum soared by over 33 per cent in the last one week, leading to a yearly return of 100 per cent.
SNM stock clocked a 52-week high of US$ 0.10 apiece, up nearly 18 per cent, on Friday, February 25.
Also read: National Bank (TSX:NA) sees Q1 profit rise 23%. A bank stock to bag?
2. Arizona Metals Corp (TSXV:AMC)
Arizona Metals Corp is a junior mining firm with gold and copper projects.
Stocks of AMC swelled by almost four per cent to close higher at C$ 6.35 apiece on Friday.
The metal stock expanded by over 232 per cent over the last one year.
3. Plurilock Security Inc (TSXV:PLUR)
Besides soaring commodity prices, the ongoing Russia-Ukraine war has spurred a wide range of cyberattacks and ransomware issues.
Subsequently, Plurilock Security, a Canadian cybersecurity company that provides risk-based authentication, saw its stock spike by over three per cent to close at C$ 0.33 apiece on Friday.
4. Alphamin Resources Corp (TSXV:AFM)
Canadian tin miner Alphamin Resources saw its scrip close at C$ 1.12 apiece on Friday, noting an increase of almost three per cent.
Alphamin stock galloped by about 93 per cent year-over-year (YoY).
5. Huntington Exploration Inc (TSXV:HEI)
Stocks of Huntington jumped by nearly 13 per cent in a day to close at C$ 0.31 apiece on Friday. HEI stock rose by almost 88 per cent in the past three months.
The precious metal miner, on February 23, said that it agreed to acquire Lago de Oro SA de CV to gain access to the El Grande Gold project in Nayarit, Mexico.
Bottomline
Investors should take any investment decisions with caution considering the current market scenarios and the probable effects as the Russia-Ukraine war continues to disturb the global market sentiments.
Also read: Raytheon (RTX) & Lockheed (LMT): Why are the 2 defense stocks trending?
