Which nickel companies have made gains in 2020? The Investing News Network looks at the top nickel stocks of the year.
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Nickel has had an interesting year so far, with prices hitting their lowest point in March at US$11,055 per tonne on the back of the coronavirus pandemic; the metal rebounded to US$13,888 as Elon Musk called for more mining of the base metal.
Despite the market volatility, some nickel companies have done exceptionally well this year, with their share prices seeing major increases over the course of the year so far.
Below, the Investing News Network profiles the top three nickel stocks with year-to-date gains on the TSX and TSXV. All year-to-date and share price information was obtained on August 5, 2020, from TradingView, and all companies listed had market caps above C$10 million at that time.
1. Canada Nickel Company (TSXV:CNC)
Current share price: C$2.10; year-to-date gain: 132.22 percent
Canada Nickel Company is advancing its 100 percent owned Crawford nickel-cobalt sulfide discovery. It has large-scale potential and is located in the Timmins mining camp, adjacent to major infrastructure.
It’s been a busy year for Canada Nickel, which started trading on the TSXV in February — the same month it released a resource estimate for its asset. Following an oversubscribed private placement, the company announced multiple palladium–platinum discovery zones in May. Later in the second quarter, the company started working on a preliminary economic assessment (PEA).
The third quarter of the year has seen Canada Nickel create a wholly owned subsidiary, NetZero Metals, to begin the research and development of a processing facility with the goal of utilizing existing technologies to produce zero-carbon nickel, cobalt and iron products. Additionally, the company continued to release positive drilling results in July.
Canada Nickel’s opening share price on the TSXV was C$0.25, increasing more than 700 percent to its current level at C$2.10.
2. FPX Nickel (TSXV:FPX)
Current share price: C$0.36; year-to-date gain: 125 percent
Top nickel stock FPX Nickel is focused on the exploration and development of the Decar nickel-iron alloy project, located in Central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.
The company kicked off the year by releasing successful leach testing results for the high-grade nickel concentrates at its project. It has confirmed nickel recoveries of up to 99.5 percent in producing a high-concentration nickel-cobalt chemical solution suitable for the electric vehicle battery supply chain.
In March, FPX Nickel closed a private placement of $1.5 million. The following month, the company said it anticipates completing a PEA for its Decar project late in the third or fourth quarter of 2020.
The company’s share price has made its way up from C$0.16 in January to C$0.36 today.
3. Talon Metals (TSX:TLO)
Current share price: C$0.295; year-to-date gain: 96.67 percent
Talon Metals is focused on producing nickel responsibly for the electric vehicle industry. The high-grade Tamarack nickel-copper-cobalt project is located in Minnesota, US; it is comprised of the Tamarack North project and the Tamarack South project.
Talon started the year with an exploration program at Tamarack, releasing an updated PEA in March, which increased the overall tonnage and mine life included compared to the initial assessment. The same month, the company released its 2019 results, posting a net loss for the year. In May, Talon published drill results from its winter program, and also reported a net loss for the first quarter of 2020. In June, the company said it had intersected its highest nickel and copper grades to date.
Talon has seen its share price increase from C$0.15 at the start of 2020, to its current level at C$0.295.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Nickel Company and FPX Nickel are clients of the Investing News Network. This article is not paid-for content.