Top 3 Canadian Rare Earths Stocks (Updated May 2022)

Year-to-date gain: 106.67 percent; market cap: C$13.67 million

First on this list of top Canadian rare earth stocks is explorer Marvel Discovery, which holds a diverse property portfolio covering gold, nickel, platinum-group metals, rare earths and uranium. Its assets are located in many of Canada’s prolific mining jurisdictions, including Ontario, Quebec, BC and Saskatchewan.

One of these projects is the Wicheeda North rare earths project, which spans 1,444 hectares of claims in the Cariboo mining division of BC. The claim block adjoins Defense Metals' (TSXV:DEFN,OTCQB:DFMTF) Wicheeda rare earths project, which hosts an indicated rare earths deposit of 4.9 million metric tons.

Shares of Marvel Discovery hit their 2022 peak on April 29, reaching C$0.16 following the company’s completion of a private placement financing for C$400,000.

Year-to-date gain: 45.45 percent; market cap: C$61.32 million

Toronto-based Avalon Advanced Materials has five projects across Canada focused on critical metals, including lithium, rare earths, cesium, tantalum, feldspars, tin and indium. Avalon is currently focusing on its Separation Rapids lithium project near Kenora and its Lilypad cesium-tantalum project near Fort Hope, both in Ontario.

The company also holds the Nechalacho rare earth elements property, located at Thor Lake in the Northwest Territories. According to the company, it has potential for economic recovery of REEs, lithium, zirconium, beryllium, niobium and tantalum. Avalon's share price hit its highest level in 2022 on April 5, reaching C$0.235.

Year-to-date gain: 9.59 percent; Market cap: C$39.27 million

Ucore Rare Metals owns the Bokan-Dotson Ridge REE project in Southeast Alaska, and also has a focus on rare earths extraction, beneficiation and separation technologies. In addition to moving forward at Bokan-Dotson Ridge, the company wants to develop a heavy rare earths processing facility in the same area.

Shares of Ucore reached their highest point for 2022 on January 17, climbing to C$1.24.

More recently, Ucore shared the positive conclusions of a multi-phase independent technical review of the company’s RapidSX technology; it was prepared by Dr. Ahmad Ghahreman of AG Hydrometallurgy Services. The results of the review include three times efficiency versus CSX and an operating cost of 20 percent less than CSX. Ucore plans to commission its RapidSX demonstration-scale plant in mid-2022.