Battery Metals

Cobalt Investing

What are the top cobalt stocks of 2020? These TSX- and TSXV-listed cobalt companies have all seen year-to-date share price increases.

While the decline in cobalt prices has been the main topic of discussion in the space lately, demand for the battery metal is still expected to surge in the coming years, driven by increased uptake of electric vehicles (EVs).

As the EV revolution continues to expand, demand for key battery metals like lithium, graphite and cobalt is expected to continue following suit accordingly.

Below we run through the three top cobalt stocks on the TSX and TSXV by share price performance. All year-to-date and share price information was obtained on February 5, 2020, from TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.

1. Jervois Mining (TSXV:JRV)

Current price: C$0.22; year-to-date gain: 15.79 percent

TSXV- and ASX-listed Jervois Mining is primarily focused on cobalt, but also maintains exposure to nickel and copper. Last year, Jervois merged with Canada’s eCobalt Solutions and acquired M2 Cobalt, securing geographic diversification of its assets.

The company’s current flagship asset 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.

2. Fortune Minerals (TSX:FT)

Current price: C$0.08; year-to-date gain: 6.67 percent

Fortune Minerals is developing its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The goal 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 company also holds the Sue-Dianne copper-silver-gold deposit and other exploration projects in the Northwest Territories.

3. First Cobalt (TSXV:FCC)

Current price: C$0.14; year-to-date gain: 3.57 percent

First Cobalt is a vertically integrated cobalt exploration and development company with three assets located in Idaho, US, and Ontario, Canada. The company is focused on developing a supply of battery-grade cobalt in North America for the rapidly growing EV market.

The company owns the only permitted primary cobalt refinery in North America, located in Ontario, Canada, which could produce 25,000 metric tons of cobalt sulfate per year from third party feed.

First Cobalt’s Iron Creek project, which covers 727 hectares in the Idaho cobalt belt, has inferred mineral resources of 26.9 million metric tons grading 0.11 percent cobalt equivalent. The company also holds an interest in the Greater cobalt project in the Canadian cobalt camp.

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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 and First Cobalt are clients of the Investing News Network. This article is not paid-for content.



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