Uranium and mining stocks led gains on the Toronto Stock Exchange on Tuesday, with Energy Fuels Inc, Southern Cross Gold Consolidated Ltd. and Denison Mines Corp each rising more than 8%.
Energy Fuels surged nearly 9%, extending gains driven by momentum in the uranium sector. The company, though not yet profitable, forecasts 86.6% revenue growth. Southern Cross Gold advanced 8.5%, marking a 109.1% increase over the past year despite negative earnings and a share price above its 52-week high. Denison Mines rose 8%, supported by a projected triple-digit revenue increase for the next year.
Scotiabank also featured among the top gainers, climbing nearly 7% after reporting quarterly earnings that exceeded analyst expectations. The bank’s third-quarter EPS and revenue both topped estimates, with strength in wealth management and capital markets contributing to a 4.9% dividend yield and robust profit growth.
Amerigo Resources Ltd. posted a 6.3% gain, reflecting a 293.4% one-year return. The broader market sentiment was buoyed by uranium sector activity, including NexGen Energy Ltd.’s recent rise following reports of BHP discussions and progress at the Rook I project. IsoEnergy Ltd. had its coverage resumed at a "Buy" rating with a C$19 price target.
The gains underscore investor appetite for junior resource stocks and uranium plays amid elevated energy transition narratives.
