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Looking for the top Canadian lithium stocks? These TSX- and TSXV-listed stocks have seen the biggest year-to-date gains in 2022.

Click here to read the previous top Canadian lithium stocks article.

Lithium put on a strong performance in 2021, and experts have high expectations for prices this year. So far in 2022, the battery metal is outperforming those expectations.

This is partially due to strong electric vehicle demand, which is driving consumption. In fact, high prices have pushed Tesla's (NASDAQ:TSLA) Elon Musk to question whether his company should get into the lithium business.

While Canada is not a top lithium-producing country, many companies on the TSX and TSXV are explorers and miners of the metal, both at home and globally. With lithium’s strong recent performance, many of these firms have seen year-to-date increases in their share prices.

For investors interested in the lithium space, the Investing News Network has created an overview of the top Canadian lithium stocks on the TSX and the top Canadian lithium stocks on the TSXV with year-to-date gains.

Although companies listed on the TSX are up year-to-date as well, the top five gainers at the time this list was generated were all on the TSXV. This list was created on April 12, 2022, using TradingView‘s stock screener, and all data was current at that time. Only companies with market caps above C$10 million are included.

1. Avalon Advanced Materials (TSX:AVL)

Year-to-date gain: 100 percent; current share price: C$0.22

Avalon Advanced Materials is focused on clean energy and new technology supply chains. Its five projects are all located in Canada. Its main lithium asset is its Separation Rapids lithium project in Kenora, Ontario. According to the company, it “has the potential to produce high purity lithium compounds for two distinct markets: an industrial mineral product for glass-ceramics and lithium chemicals for energy storage.”

On April 4, Avalon announced a partnership with RenJoules International, which will help with Avalon’s plans to develop a regional lithium battery materials supply chain; the focus will be on supplying future electric vehicle battery manufacturers. The company’s share price spiked on this news, hitting a year-to-date high of C$0.22.

2. Lithium Energi Exploration (TSXV:LEXI)

Year-to-date gain: 90.91 percent; current share price: C$0.315

Lithium Energi Exploration is an acquisition, exploration and development company working in South America’s Lithium Triangle, with over 72,000 hectares of lithium brine concessions in Argentina’s section of the triangle.

In January, the company announced that exploration and development with its joint venture partner Global Oil Management Group was accelerating. The name of the new joint venture is Triangle Lithium Argentina. On March 24, the company shared that, alongside its new joint venture Triangle Lithium Argentina, it had commenced exploration drilling in the Antofalla basin. This news caused its share price to shoot up over the following weeks, moving from C$0.21 on March 24 to a year-to-date high of C$0.35 by April 11.

3. Frontier Lithium (TSXV:FL)

Year-to-date gain: 64.53 percent; current share price: C$3.34

Frontier Lithium’s goal is to become a manufacturer of battery-quality lithium salts for the electric vehicle and lithium-ion battery markets. According to the company, its PAK lithium project “contains one of North America’s highest-grade, large-tonnage hard-rock lithium resources in the form of a rare low-iron spodumene.” The project, which is being actively developed by Frontier, is located in Ontario’s Electric Avenue.

Frontier’s news in 2022 has focused on exploration at PAK’s Spark deposit, where on March 1 it announced an updated indicated resource of 14 million tonnes averaging 1.4 percent lithium oxide, and an inferred resource of 18 million tonnes averaging 1.37 percent lithium oxide. More recently, the company completed a mineral processing pilot plant campaign. Frontier's share price hit a year-to-date high of C$3.60 on April 4.

4. Sigma Lithium (TSXV:SGML)

Year-to-date gain: 57.92 percent; current share price: C$20.53

In Minas Gerais, Brazil, Sigma Lithium has its Grota do Cirilo hard-rock lithium project, which has been in production at a pilot scale since 2018. Sigma expects Phase I production of 220,000 tonnes annually.

The company’s goal is to become “one of the world’s largest, lowest-cost producers of high-purity, environmentally sustainable lithium products.” Sigma is constructing its greentech dense media separation production plant, which will vertically align its operations. The company was recently recognized by the Bank of America (NYSE:BAC) as part of its “Top 50 Stocks for 10 Scarcity Themes.” In late March, the company announced environmental, social and government steps it would be taking, including donating 7,000 food baskets to the region it operates in.

Sigma went on to release its 2021 annual results alongside an update on the construction of its Phase 1 production plant, which is on schedule. Most recently, the company updated its feasibility study with a potential production capacity increase to 450,000 tonnes per year. Shares hit a year-to-date high of C$22.18 on April 7.

5. HeliosX Lithium & Technologies (TSXV:HX)

Year-to-date gain: 39.47 percent; current share price: C$1.06

HeliosX Lithium & Technologies is targeting the clean energy sector by positioning itself in the US, Argentina and Canada. It holds 100 percent interests in its Teels Marsh Valley and Alkali Lake Valley lithium projects in Nevada, its Fox Creek lithium project in Alberta and its Guayatoyoc lithium project in the Lithium Triangle.

In January, HeliosX announced a name change from Dajin Lithium following a plan of arrangement between Dajin Lithium and HeliosX Lithium. On February 9, the company shared a corporate update detailing its plans moving forward. These news items didn’t have much effect on the company’s share price; however, HeliosX went on to perform well alongside the lithium price at the end of March, hitting a year-to-date high of C$1.16 on April 5.

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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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