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Top 5 Junior Copper Stocks on the TSXV (Updated April 2023)
Which junior copper stocks have gained the most on the TSXV so far this year? Here are the five top performers.
Copper prices are climbing again in 2023 following a weak back half of 2022.
After reaching all-time price highs early last year, copper was shaken by weakened demand when the Chinese government enacted strict zero-COVID restrictions. However, the metal regained some ground following the end of those restrictions, and as widespread political protests in top copper country Peru raised concerns over supply.
Experts at the Vancouver International Resource Conference shared their outlooks for the metal, agreeing that the metal will become even more important as the world moves towards greener sources of energy.
The top junior copper stocks list below was generated on April 25, 2023, using TradingView’s stock screener, and it shows the TSXV-listed copper companies with the biggest share price gains year-to-date. Only companies with market capitalizations greater than C$10 million at the time data was gathered are included. Read on to find what has been driving these stocks.
1. Camino Minerals (TSXV:COR)
Year-to-date gain: 266.67 percent; market cap: C$19.07 million; current share price: C$0.11
Camino Minerals is a Peru-focused copper explorer that is working to build a portfolio of advanced copper assets; it currently holds the Los Chapitos copper project, Maria Cecilia copper porphyry project and Plata Dorada copper-silver project. Camino is primarily focused on advancing Los Chapitos, which is located in an iron oxide-copper-gold (IOCG) belt in the Coastal Cordillera region.
The copper company’s share price has soared so far this year after starting 2023 off at C$0.03. Camino’s first news came on February 1, when it announced a letter of intent for a partnership with Nittetsu Mining (TSE:1515); the latter company could earn 35 percent of Los Chapitos over three years for total payments and expenditures of C$10.1 million. According to the release, Nittetsu’s Atacama Kozan copper mine in Chile was developed from an IOCG deposit like Los Chapitos.
“Our Japanese partners have extensive mining and geological exploration expertise in a renowned IOCG belt to bring to our southern Peru location,” Camino CEO Jay Chmelauskas said in a statement. The letter of intent will terminate by the end of April if the companies have not entered into a definitive agreement by that point.
With regards to Camino’s exploration at Los Chapitos, the company announced that “its field work and geological modeling has identified the Diana Zone as a new drilling target,” and it anticipates a drilling permit expansion in Q2.
Camino’s latest news came on March 14; the company has completed its ESG submission to Digbee, a technology company working to improve transparency in the mining industry, and received a rating of BB. Although it hasn’t released news in April, the company’s share price climbed to a year-to-date high of C$0.12 on April 14.
2. NGEx Minerals (TSXV:NGEX)
Year-to-date gain: 111 percent; market cap: C$1.17 billion; current share price: C$6.52
NGEx Minerals is focused on copper and gold. Its primary asset is the Los Helados copper-gold project in Chile, and the company also has a portfolio of exploration properties in Argentina, including the Valle Ancho copper-gold project and the Potro Cliff copper-gold exploration target near Los Helados. In February, NGEx was named to the TSX Venture 50 list.
On March 31, NGEx released its 2022 full-year results. The company provided a summary of its activities throughout last year, including its discovery of the Fenix and Alicanto zones at Los Helados and the December receipt of permits for its maiden drill program at the Potro Cliffs target; the program commenced in January.
NGEX’s share price jumped from C$4.40 to C$5.49 on April 4, when the company announced a new discovery at Potro Cliff. According to the release, NGEx is interpreting the results as the “first intercepts into the edges of a major new copper-gold system.” One highlight interval is 60 meters at 5.65 percent copper, including 10 meters at 14.19 percent copper equivalent.
NGEx released further drill results on April 13, this time from Los Helados’ Fenix and Alicanto zones. The intervals show molybdenum grades much higher than any seen before on the property, and “demonstrate that the Fenix Zone is rapidly growing into a second major centre of mineralization.” NGEx’s share price continued upwards to reach a year-to-date high of C$6.83 on April 20.
3. ATEX Resources (TSXV:ATX)
Year-to-date gain: 101.32 percent; market cap: C$245.7 million; current share price: C$1.53
ATEX Resources is focused on projects in Latin America. The company’s flagship asset is its Valeriano project — located in the Atacama region of Chile — which hosts a copper-gold porphyry deposit, as well as a near-surface oxidized epithermal gold deposit. ATEX is performing further exploration in Chile as well. According to the company, it is using “techniques developed by ATEX’s management team which have proven successful, resulting in a number of significant precious metal deposits discoveries.” In February, ATEX was included on this year's TSX Venture 50 list.
ATEX has continued a Phase 3 diamond drilling program at its Valeriano project in 2023, completing the first two holes in January; assays from the first were released in early February. After trending higher throughout the year from its opening of C$0.80, the company’s share price picked up pace following the February 27 news of both its assays for the second hole and the completion of its third hole.
At the end of March, ATEX released further assays from its drilling. The third hole confirmed a new high-grade porphyry trend that ATEX has named the Western trend, and the company plans to define and extend the Western trend’s mineralization as the next step in its drill program. This latest drilling news shot its share price back up, eventually culminating in a year-to-date high of C$1.70 on April 5.
4. Callinex Mines (TSXV:CNX)
Year-to-date gain: 97.67 percent; market cap: C$66.02 million; current share price: C$4.25
Callinex Mines is a base and precious metals company in Canada. Its projects include the Pine Bay and Flin Flon volcanogenic massive sulfide (VMS) projects in Manitoba’s Flin Flon mining district. The company also has multiple projects in New Brunswick’s Bathurst mining district, and holds the Point Leamington zinc-gold VMS project in Newfoundland’s Buchans mining district.
Callinex’s share price saw its first jump early in the year when it released the final assays from its 2022 drill program at Pine Bay’s Rainbow deposit. The company expects a maiden NI 43-101 resource estimate for the deposit to be published in Q2.
On February 6, Callinex appointed Peter R. Jones to its technical team. Jones is the former CEO of Hudbay Minerals (TSX:HBM,NYSE:HBM), and has significant experience in the Flin Flon greenstone belt. He led the development and construction of multiple mines there, including Hudbay’s flagship 777 copper-zinc mine.
Callinex saw its biggest gain on March 27, when its share price jumped from C$2.75 to C$3.50 when the company began its 2023 drill program at Pine Bay. The first phase of drilling will include up to 10,000 meters spread out over multiple areas, with the largest focus on the Rainbow deposit. The second phase will take place in the fall. The company’s share price continued to climb over the following week, reaching a year-to-date high of C$4.78 on April 4.
5. Minsud Resources (TSXV:MSR)
Year-to-date gain: 92.31 percent; market cap: C$78.67 million; current share price: C$0.50
Minsud Resources is an exploration company focused on its flagship Chita Valley copper project in Argentina, which it owns through its indirect subsidiary Minera Sud Argentina (MSA).
In 2019, South32 (ASX:S32,LSE:S32,OTC Pink:SHTLF) subsidiary South32 Aluminum signed an earn-in agreement with MSA that will allow it to acquire up to a 50.1 percent direct interest in MSA at the end of a four year earn-in period. The project is currently operated by MSA, while exploration is funded by South32 Aluminum.
On February 3, Minsud announced the budget and plans for year four of exploration under the agreement, which will see South32 fund C$9.1 million. The work will include a diamond drilling program of up to 21,700 meters and a wide variety of studies.
Minsud's share price shot up on March 21, when it shared assays and analysis for nine drill holes that are part of its ongoing program at Chita Valley. One highlight from a drill hole at the Chinchillones target graded 0.94 percent copper over 86 meters inside 0.34 percent copper over 518 meters. Minsud’s share price reached a year-to-date high of C$0.56 on April 5.
The company’s most recent came on April 13, when it announced that South32 Aluminum has exercised its right to acquire the 50.1 percent direct interest in MSA. Completion of the acquisition will either take place on February 14, 2024, or at the completion of the fourth year of exploration — whichever comes first.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. Now nearing five years as part of the INN team, she is passionate about delivering accurate and informative content to investors.
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Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. Now nearing five years as part of the INN team, she is passionate about delivering accurate and informative content to investors.
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