Which junior copper stocks have gained the most on the TSXV so far this year? Sandfire Resources is in the lead.
Although copper prices have been trading with volatility for the past few months, some analysts forecast an increase in demand for the red metal as the world becomes greener.
According to FocusEconomics’ September report, the medium-term copper outlook is bright despite this summer’s slowdown, with the recent push for decarbonization and copper’s importance in building key infrastructure driving demand for the base metal.
With Q3 now finished, the Investing News Network is looking at the best copper stocks on the TSXV by share price performance so far in 2019.
All year-to-date and share price information was obtained on October 7, 2019, using TradingView’s stock screener. All companies listed had market caps above C$10 million at that time.
1. Sandfire Resources America (TSXV:SFR)
Year-to-date gain: 314.29 percent; current share price: C$0.29
Over the past year, Sandfire Resources America has continued its work on the Black Butte copper project, a major underground mining project based in Central Montana.
Sandfire Resources America has otherwise been quiet this year, offering a few updates over the course of 2019. The company’s last release was on August 29, when it announced personnel changes. The company expects mine operations at Black Butte to begin sometime in 2020 or 2021 at the latest.
2. VR Resources (TSXV:VRR)
Year-to-date gain: 105.56 percent; current share price: C$0.37
VR Resources is a junior mining company focused on copper and gold, with projects in the US and Canada. Following the company’s announcement of its summer exploration plans on July 2, its share price enjoyed an increase, going from C$0.13 on July 12 to C$0.25 by July 19.
Since July, the company’s share price has remained steady, remaining well above the C$0.25 mark. It hit its most recent peak on September 12 at C$0.39.
3. Los Andes Copper (TSXV:LA)
Year-to-date gain: 100 percent; current share price: C$0.40
Headquartered in Canada, Los Andes Copper owns 100 percent of the Vizcachitas project, one of the largest copper deposits in the Americas.
It’s been a quiet quarter for Los Andes Copper, with its latest milestone reached in June, when it filed a preliminary economic assessment for Vizcachitas. Los Andes Copper’s share price has increased significantly since the start of 2019 — its high in January 2019 was C$0.24, but it currently sits at C$0.40.
4. Pacific Booker Minerals (TSXV:BKM)
Year-to-date gain: 99.31 percent; current share price: C$2.89
Pacific Booker Minerals is an exploration company with interests in Canada. Its flagship project is the Morrison copper-gold asset, which has now reached the advanced development stage after the company completed a feasibility study for the deposit; it proposes an open-pit mining and milling operation.
On July 24, the company received a mining lease for Morrison for an initial term of one year. Pacific Booker Minerals’ share price hit its peak on May 10, when it reached C$4.10.
5. Oroco Resource (TSXV:OCO)
Year-to-date gain: 90 percent; current share price: C$0.38
Oroco Resource is a Canadian mineral exploration company with projects in Mexico. Its two main assets are the Xochipala gold project and the Santo Tomás porphyry copper project.
The company’s share price saw a sudden spike in May following the announcement of a favorable court decision that had previously blocked the Santo Tomás concessions from being registered to a subsidiary of Altamura Copper. Oroco holds a 13 percent stake in Altamura Copper, and on May 14, Oroco’s share price hit C$0.69. It has not dropped below C$0.38 since then.
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Securities Disclosure: I, Sasha Dhesi, hold no direct investment interest in any company mentioned in this article.