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Despite the pandemic uncertainty, prices for cobalt, an essential element in the lithium-ion batteries used to power electric vehicles, have kicked off 2021 on an uptrend.
As the electric vehicle revolution continues to expand, demand for key battery metals like lithium, graphite and cobalt is expected to continue following suit accordingly. The second quarter of the year saw a number of cobalt companies make gains.
Below we run through the five top cobalt stocks on the TSX and TSXV by share price performance. All year-to-date and share price information was obtained on July 6, 2021, from TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.
1. Edison Cobalt (TSXV:EDDY)
Current share price: C$0.12; year-to-date gain: 316.67 percent
Edison Cobalt is focused on the procurement, exploration and development of cobalt, lithium and other energy metals. Formerly known as Power Americas Minerals, it currently holds a 100 percent interest in the Kittson cobalt project, which is comprised of 216 unpatented mining claims covering a total area of approximately 4,440 hectares in Northeast Ontario, Canada.
The company has recently entered into a definitive purchase and sales agreement to acquire Resource Ventures, an Argentina corporation that owns or controls the rights to over 148,000 hectares of prospective lithium brine claims in the province of Catamarca, Argentina.
2. Battery Mineral Resources (TSXV:BMR)
Current share price: C$0.80; year-to-date gain: 142.42 percent
Top cobalt stock Battery Mineral Resources has an extensive portfolio of high-grade cobalt, lithium and graphite assets located in Canada, the US and South Korea.
The company controls a land package of 1,100 square kilometers that hosts multiple high-grade targets in the Ontario Cobalt Belt. Battery Mineral bills itself as the largest claim holder across all minerals in the Ontario Cobalt Belt, one of the most richly endowed mining regions in the world.
In Idaho, US, the company owns 434 unpatented mining mineral claims in three 100 percent owned properties containing 14 significant cobalt prospects and covering an area of 38 square kilometers. Battery Mineral continues to stake and acquire additional cobalt properties across the US.
3. Fortune Minerals (TSXV:FT)
Current share price: C$0.13; year-to-date gain: 73.33 percent
Fortune Minerals is developing its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The plan is for bulk concentrate from NICO to be shipped to a planned metals processing plant in Saskatchewan. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products.
The top cobalt stock also holds the Sue-Dianne copper-silver-gold deposit and other exploration projects in the Northwest Territories.
4. Jervois Mining (TSXV:JRV)
Current share price: C$0.57; year-to-date gain: 48.05 percent
TSXV- and ASX-listed Jervois Mining is primarily focused on cobalt, but also maintains exposure to nickel and copper. The company’s current flagship is the development-stage Idaho Cobalt Operations in Idaho, US. Jervois is also developing the Nico Young nickel-cobalt deposit in New South Wales, Australia, and holds interests in exploration-stage assets in Uganda.
In 2020, the company agreed to acquire 100 percent of the São Miguel Paulista nickel and cobalt refinery in the Brazilian state of São Paulo from Companhia Brasileira de Alumínio.
5. Sherritt International (TSX:S)
Current share price: C$0.52; year-to-date gain: 26.83 percent
Sherritt International is focused on mining and refining nickel and cobalt from lateritic ores, with projects, operations and investments in Canada and Cuba. Sherritt is a top 10 producer of finished cobalt.
Nickel and cobalt are refined in Alberta, Canada, from mixed sulfide intermediate prepared at a mine and processing plant in Moa, Cuba. The 50/50 Moa joint venture has the capacity to produce up to 35,000 tonnes of nickel and 3,800 tonnes of cobalt on a 100 percent basis per year. Sherritt is also the largest independent energy producer in Cuba, with extensive oil and power operations across the island.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.
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