Top Canadian Cobalt Stocks

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Prices for cobalt, an essential element in the lithium-ion batteries used to power electric vehicles, kicked off 2021 on an uptrend and have continued to perform well so far this year.

As the electric vehicle 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 five top cobalt stocks on the TSX and TSXV by share price performance. All year-to-date and share price information was obtained on October 1, 2021, from TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.

1. Edison Battery Metals (TSXV:EDDY)

Current share price: C$0.09; year-to-date gain: 112.5 percent

Edison Battery Metals, formerly Edison Cobalt, is focused on the procurement, exploration and development of cobalt, lithium and other energy metals properties. It currently holds a 100 percent interest in the Kittson cobalt project, which is comprised of 216 unpatented mining claims covering a total area of approximately 4,440 hectares in Northeast Ontario, Canada.

The company recently entered into a definitive purchase and sale agreement to acquire Resource Ventures, an Argentina corporation that owns or controls the rights to over 148,000 hectares of prospective lithium brine claims in the province of Catamarca, Argentina.

2. Fortune Minerals (TSX:FT)

Current price: C$0.13; year-to-date gain: 66.67 percent

Fortune Minerals is developing its NICO cobalt-gold-bismuth-copper project, located in Canada’s Northwest Territories. The plan is for bulk concentrate from NICO to be shipped to a planned metals processing plant in Southern Canada. The company is positioned to become a Canadian producer of battery-grade cobalt chemicals with gold and bismuth co-products.

Aside from NICO, the company also holds the Sue-Dianne copper-silver-gold deposit and other exploration projects in the Northwest Territories.

3. Battery Mineral Resources (TSXV:BMR)

Current price: C$0.52; year-to-date gain: 57.58 percent

Battery Mineral Resources has an extensive portfolio of high-grade cobalt, lithium and graphite assets located in Canada, the US and South Korea.

The company controls a land package in the Ontario Cobalt Belt that covers 1,100 square kilometers and hosts multiple high-grade targets. Battery Mineral Resources bills itself as the largest claim holder across all minerals in the Ontario Cobalt Belt, one of the most richly endowed mining regions in the world.

In Idaho, US, the company owns 434 unpatented mining mineral claims in three 100 percent owned properties containing 14 significant cobalt prospects and covering an area of 38 square kilometers. Battery Mineral Resources continues to stake and acquire additional cobalt properties across the US.

4. Jervois Global (TSXV:JRV)

Current price: C$0.48; year-to-date gain: 23.38 percent

Jervois Global is primarily focused on cobalt, but maintains significant nickel and copper exposure through its development and refinery asset portfolio.

The company holds interests in the construction-stage Idaho Cobalt Operations, in Idaho, US; the development-stage Nico Young deposit in Australia; and the largest nickel-cobalt refinery in Latin America, the São Miguel Paulista refinery in São Paulo, Brazil.

In 2021, Jervois agreed to acquire 100 percent of Freeport Cobalt, the Kokkola, Finland-based cobalt-refining and specialty products business retained by Freeport-McMoRan (NYSE:FCX) and other co-owners following the sale of certain refining and battery materials activities to Umicore (OTC Pink:UMICF,EBR:UMI) in 2019.

5. Sherritt International (TSX:S)

Current price: C$0.42; year-to-date gain: 2.44 percent

Sherritt International is focused on mining and refining nickel and cobalt from lateritic ores with projects, operations and investments in Canada and Cuba. Sherritt is a top 10 producer of finished cobalt.

Nickel and cobalt are refined in Alberta, Canada, from mixed sulfide intermediate prepared at the mine and the company’s processing plant in Moa, Cuba. The 50/50 Moa joint venture has the capacity to produce up to 35,000 tonnes of nickel and 3,800 tonnes of cobalt (on a 100 percent basis) per year.

The company is also the largest independent energy producer in Cuba, with extensive oil and power operations across the island.

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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 Battery Mineral Resources are clients of the Investing News Network. This article is not paid-for content.