- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Top 4 Canadian Rare Earths Stocks (Updated July 2023)
What are the top Canadian rare earths stocks? These companies on the TSX and TSXV have performed the best so far this year.
Rare earth elements (REEs) have had a strong showing so far in 2023.
Investors may not be very familiar with the metals individually, but the group of elements is found in technology all around us, commonly in the form of rare earth magnets, which are used in everything from electric vehicles to smartphones to wind turbines. As technology continues to advance, they are expected to remain in high demand.
“The simplest engineering solution for a drive train on an electric vehicle is to use a permanent magnet synchronous motor, and those permanent magnets are made of REEs,” Jon Hykawy of Stormcrow Capital told the Investing News Network in an interview. "So as that trend continues, I expect the prices to remain high."
Another long-term story in the REE market is China's dominance of the overall industry. With geopolitics at the forefront of people's minds, especially following hits to commodities supply chains during Russia's invasion of Ukraine, the focus on attaining domestic sources of critical metals has been mounting and companies are working to find new sources of REEs.
Here the Investing News Network looks at the TSXV- and TSX-listed REE companies that have had the biggest gains during 2023. CSE-listed companies were considered, but did not make the cut this time around. This top Canadian rare earth stocks list was compiled using TradingView’s stock screener, and data was gathered on July 18, 2023.
1. Ucore Rare Metals (TSXV:UCU)
Year-to-date gain: 40.58 percent; market cap: C$54.45 million; current share price: C$0.97
Ucore Rare Metals is focused on addressing the lack of a rare earths supply chain in the US. The company and its subsidiaries own the Bokan-Dotson Ridge REE project on Alaska’s Prince of Wales Island. According to Ucore, it’s the highest-grade heavy REE resource in the US. Through its subsidiary, the company is planning a 2,000 metric ton (MT) per year heavy and light rare earths separation and purification facility that will have three US-allied feedstocks.
In late January, Ucore announced that the commissioning process was underway at its Ontario-based RapidSX demonstration plant, which is run by its laboratory partner, Kingston Process Metallurgy. The purpose of the plant is to “demonstrate the techno-economic advantages, scale-up, and commercial durability of the RapidSX technology platform” for the separation and production of heavy and light REEs such as praseodymium, neodymium, terbium and dysprosium.
In June, through its subsidiary Innovation Metals, Ucore was granted a US$4 million award from the US Department of Defense to demonstrate the REE separation technology capabilities of its RapidSX demonstration plant.
2. Canada Rare Earth (TSXV:LL)
Year-to-date gain: 33.33 percent; market cap: C$8.39 million; current share price: C$0.04
Canada Rare Earth is focused on becoming a vertically integrated global rare earths business, generating revenue through production and by sourcing, adding value and selling rare earths products. The company is working to establish mining, concentrating and refining capabilities on its own and through affiliated and third-party organizations.
Canada Rare Earth's share price hit a year-to-date high of C$0.06 on February 6. In its most recent financial report, Canada Rare Earth announced the completion of sales totaling C$4,991,855 during the nine months ended December 31, 2022. This was "12 times higher than revenues achieved in the comparable nine month period ($410,297) and nearly triple the combined revenues for the previous 24 months ($1,686,030)," states the company's press release.
3. Defense Metals (TSXV:DEFN)
Year-to-date gain: 20 percent; market cap: C$61.38 million; current share price: C$0.24
Defense Metals is developing its Wicheeda rare earths deposit in the Rocky Mountain rare earths belt of BC. The project hosts 4.89 million MT at 3.02 percent light rare earth oxide. The 2021 preliminary economic assessment report for the project outlines an open-pit mining operation capable of producing an average of 25,423 MT of rare earth oxides annually over a 16 year mine life.
Defense Metals has released a series of market-moving news items so far in 2023. In January, the company reported its best rare earths assay results from a 2022 drill program at the Wicheeda project, including 138 meters of 3.66 percent total rare earths oxides. In February, Defense Metals engaged SRK Consulting to begin prefeasibility-level site geotechnical investigations at Wicheeda. That same month, the company released results from variability flotation tests that yielded high rare earths recoveries of 81 percent to a high-grade concentrate assaying 45 percent rare earth oxide.
In June of this year, the company reported that its hydrometallurgical pilot plant testing was completed and design work for the Wicheeda prefeasibility study had commenced.
4. Aclara Resources (TSX:ARA)
Year-to-date gain: 16.13 percent; market cap: C$62.84 million; current share price: C$0.36
Aclara Resources is a heavy rare earths company developing its ionic clays deposit in Chile.
The company’s patented, award-winning Circular Mineral Harvesting closed-circuit rare earths extraction process eliminates the need for a tailings dam and conditions spent clays for future revegetation with native forests.
This year, Alcara is proceeding with a feasibility study for the Penco module and had submitted its environmental impact assessment application as of April. Additionally, a pilot plant began operation mid-year, producing its first sample of high-purity rare earths concentrate. The company is targeting Q1 2026 for commencing production at the Penco module.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Aclara Resources is a client of the Investing News Network. This article is not paid-for content.
- What are Rare Earths Used For? (Updated 2023) ›
- How to Invest in Rare Earths (Updated 2023) ›
- Rare Earths Stocks: 8 Biggest Companies in 2023 ›
- Rare Earths Reserves: Top 8 Countries (Updated 2023) ›
- 10 Top Countries for Rare Earth Metal Production | INN ›
Melissa Pistilli has been reporting on the markets and educating investors since 2006. She has covered a wide variety of industries in the investment space including mining, cannabis, tech and pharmaceuticals. She helps to educate investors about opportunities in a variety of growth markets. Melissa holds a bachelor's degree in English education as well as a master's degree in the teaching of writing, both from Humboldt State University, California.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
Melissa Pistilli has been reporting on the markets and educating investors since 2006. She has covered a wide variety of industries in the investment space including mining, cannabis, tech and pharmaceuticals. She helps to educate investors about opportunities in a variety of growth markets. Melissa holds a bachelor's degree in English education as well as a master's degree in the teaching of writing, both from Humboldt State University, California.
Learn about our editorial policies.