Winners and Losers: Miners on top as sentiment improves for gold and copper

The top four best-performing South Australian companies last week were miners after the mood improved for copper.

Mar 25, 2024, updated Mar 25, 2024
Hillgrove Resources' Kanmantoo copper mine. Photo: Hillgrove Resources.

Hillgrove Resources' Kanmantoo copper mine. Photo: Hillgrove Resources.

Shares in Hillgrove Resources jumped up more than 17 per cent over the five trading days last week, alongside gold producer Barton Gold Holdings which climbed 11 per cent.

Woomera Mining also rose by 12.50 per cent, while iron ore producer Iron Road Limited spiked by 9.09 per cent.

Though not in the top five, Rex Minerals also improved by 5 per cent, with Baker Young Limited analysts noting the resources companies rose on improved sentiment to the gold and copper segments.

Yellowtail kingfish producer Clean Seas bounced around all week but closed up 8 per cent to land at number five in the Winners list. The company released its first-half results on Wednesday and noted its operational review was on track to right-size the business.

Whitebark Energy was the week’s biggest Loser, with shares closing down 13.64 per cent. On a year-on-year basis, shares in the company are down 62 per cent.

Mighty Kingdom was another Loser this week after announcing a $6.2 million capital raise which massively diluted the overall pool of shares. Funds will be used for a restructure and working capital to strengthen the balance sheet.

Marmota Limited and Vintage Energy rounded out the bottom five.

The full list of Winners and Losers for the week ending 22 March:

Data compiled by Baker Young Limited analysts.

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