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Wednesday, November 29, 2023

Top Zinc Stocks on the TSX

Click here to read the previous top zinc stocks on the TSX article.

For the past few years, zinc prices have been at the mercy of smelters, as well as treatment and refinement charges. However, the base metal was one of the best-performing commodities in 2020, and zinc prices have continued to surge in the first half of 2021.

Zinc started January out at US$2,799 per tonne on the London Metal Exchange. As global economies continued to rebound after the COVID-19 pandemic, zinc metal prices have held onto the gains made in 2020, hitting a high of US$3,063.50 in mid-May of this year.

Positive zinc market price movement has also been good for some zinc-mining stocks, and with that in mind the Investing News Network has put together a list of the three top zinc stocks on the TSX in 2021.

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Data was gathered on July 9, 2021, using TradingView’s stock screener, and only companies with market caps greater than C$50 million at that time were considered.

1. Teck Resources (TSX:TECK.A,TSX:TECK.B)

Share price: C$35.75; year-to-date gain: 30 percent

Teck Resources is a diversified mining and mineral development company with major business units in copper, steelmaking coal and zinc, in addition to investments in energy assets. Teck is one of the world’s largest zinc producers, and its Red Dog zinc mine in Alaska is one of the world’s largest zinc mines.

In 2021, Teck’s production guidance calls for 275,000 to 290,000 tonnes of copper, 585,000 to 610,000 tonnes of zinc and 300,000 to 310,000 tonnes of refined zinc. Shares of Teck reached their highest point so far this year on June 2, coming in at C$42.50.

2. Trilogy Metals (TSX:TMQ)

Share price: C$2.99; year-to-date gain: 17.72 percent

Through its 50 percent ownership of Ambler Metals, Trilogy Metals is actively exploring the Upper Kobuk projects in Alaska’s Ambler mining district. This region is known to host world-class polymetallic volcanogenic massive sulfide deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits that have been found to host high-grade copper and cobalt mineralization.

A 2021 field exploration season was announced in May with a budget of US$27 million, and will include 14,600 meters of diamond drilling. Trilogy Metals’ share price hit a year high of C$3.70 on June 1.

3. Trevali Mining (TSX:TV)

Share price: C$0.26; year-to-date gain: 15.38 percent

Global base metals mining company Trevali Mining has three main operational assets: the 90 percent owned Perkoa zinc mine in Burkina Faso, the 90 percent owned Rosh Pinah zinc-lead-silver mine in Namibia and the wholly owned Santander zinc-lead-silver mine in Peru. The company is also involved with other properties at various stages of development in Canada and Namibia.

In May 2021, the company released its Q1 financial and production results, including quarterly production of 74.8 million pounds of zinc at an all-in sustaining cost of US$0.99 per pound. Adjusted EBITDA for the quarter was US$24.5 million, which Trevali attributed to “business improvement initiatives, the increase in the zinc price, and reduction in benchmark treatment charges for 2021.”

Shares of Trevali reached a high for the year of C$0.28 on May 21.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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