RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%

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Two TSX-listed materials Stocks Showing An Upward Trend

The benchmark S&P/TSX Composite Index (TSX: ^TSX) started last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 156.44 points (0.70%) to 22465.37 for the week ending May 17, 2024. 

Hut 8 Mining Corp. (TSX: HUT) is North America's innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. It has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction.  

In the first quarter, the company launched a comprehensive restructuring program designed to center the business on operating excellence and bottom-line economics. The group also made significant progress in positioning the business for near-term growth. In the Managed Services segment, it signed a four-year agreement with Ionic Digital and began managing the construction and operations of its West Texas facilities.  

Price Action Analysis (on the Daily Chart) 

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