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Cobalt InvestingLauren Kelly
Top 3 Canadian Cobalt Stocks
Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. Now nearing five years as part of the INN team, she is passionate about delivering accurate and informative content to investors.
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Apr. 27, 2022 01:55PM PST
What are the top cobalt stocks so far in 2022? These TSX- and TSXV-listed cobalt companies have all seen year-to-date share price increases.
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| Company | Description |
|---|---|
| 1. Sherritt International (TSX:S) | Year-to-date gain: 97.53 percent; current share price: C$0.80 Sherritt International is a miner, producer and refiner of high-purity nickel and cobalt. While nickel is its primary focus, it is still a significant producer of cobalt, and believes both metals are essential to the EV revolution. The company operates a mine in Cuba, as well as a refinery in Alberta, Canada, both of which are part of its 50/50 Moa joint venture with Cuba’s General Nickel Company. The vertically integrated joint venture has a capacity of 35,000 tonnes of nickel and 3,800 tonnes of cobalt produced per year. In February, Sherritt released its 2021 production results and 2022 guidance. The company expects to see cobalt production in 2022 in line with its 2021 numbers, and has set guidance of 3,400 to 3,700 tonnes compared to 2021’s production of 3,526 tonnes. On March 1, the company announced the appointment of decarbonization expert Chih-Ting Lo to its board of directors, and also named Maryse Bélanger as deputy chair. The focus of these changes is to strengthen Sherritt's commitment to environmental, social and governance matters. As its a nickel-primary company, Sherritt’s share price saw movement that reflected nickel hitting an all-time-high. Its share price shot up to reach a high of C$0.82 on March 10, and has largely stayed elevated since then. |
| 2. Jervois Global (TSXV:JRV) | Year-to-date gain: 74.07 percent; current share price: C$0.94 Like Sherritt, Jervois focuses on cobalt and nickel, but is a cobalt-primary company. Its goal is to become “the leading global supplier of responsibly sourced cobalt materials … and to provide a secure, reliable supply to customers in the face of geopolitical risks.” The company is on its way to becoming the only cobalt mine in the US with its Idaho Cobalt Operations. Jervois manufactures cobalt products through its Jervois Finland subsidiary. On January 31, the company shared its Q4 2021 report, including full-year proforma revenue at Jervois Finland of US$295.8 million. The report states that first production of cobalt and copper concentrate at its Idaho Cobalt Operations is expected in Q3 of this year following a drill program in Q1. Shares have climbed steadily throughout the year, hitting a year-to-date high of C$0.94 on April 19 after starting the year at C$0.54. |
| 3. Canada Silver Cobalt Works (TSXV:CCW) | Year-to-date gain: 60.61 percent; current share price: C$0.265 Canada Silver Cobalt Works is a vertically integrated dual-focus exploration and development company operating in Ontario and Quebec, Canada. It intends to mine cobalt as a by-product of silver. The company is the 100 percent owner of its Castle property, which contains the past-producing silver-cobalt Castle mine. Between 1917 and 1989, the Castle mine produced 376,053 pounds of cobalt. In addition to the Castle property, the company owns two other silver-cobalt properties — Beaver and Violet — as well as the Temiskaming Testing Laboratories in Cobalt, Ontario, which combine bullion pouring, bulk sampling, commercial assaying and e-waste processing. It is exploring its Graal battery metals project in Northern Quebec. In March and April, Canada Silver Cobalt Works released multiple items about exploration at Graal: drill results returning up to 0.12 percent cobalt, further drill results that intersected a 13.1 meter massive sulfide zone and, most recently, the discovery of a new “major geophysical conductor.” The company also appointed a new CFO on April 1. Shares hit year-to-date highs in the week following that news, peaking at C$0.31 on April 5 and 7. |
Click here to read the latest top cobalt stocks article.
Cobalt has seen a strong 2022, building off its positive performance in 2021. According to Trading Economics, cobalt futures prices in April were north of US$80,000 per tonne, up 16 percent year-to-date.
Battery metal cobalt is essential to the lithium-ion batteries that are a large part of electric vehicles (EVs) and the clean energy movement. Experts expect rising EV purchases to continue driving demand for cobalt, and that coupled with Russia's invasion of Ukraine have been tailwinds for the price.
Below is a look at 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 April 19, 2022, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time.
1. Sherritt International (TSX:S)
Year-to-date gain: 97.53 percent; current share price: C$0.80
Sherritt International is a miner, producer and refiner of high-purity nickel and cobalt. While nickel is its primary focus, it is still a significant producer of cobalt, and believes both metals are essential to the EV revolution. The company operates a mine in Cuba, as well as a refinery in Alberta, Canada, both of which are part of its 50/50 Moa joint venture with Cuba’s General Nickel Company. The vertically integrated joint venture has a capacity of 35,000 tonnes of nickel and 3,800 tonnes of cobalt produced per year.
In February, Sherritt released its 2021 production results and 2022 guidance. The company expects to see cobalt production in 2022 in line with its 2021 numbers, and has set guidance of 3,400 to 3,700 tonnes compared to 2021’s production of 3,526 tonnes. On March 1, the company announced the appointment of decarbonization expert Chih-Ting Lo to its board of directors, and also named Maryse Bélanger as deputy chair. The focus of these changes is to strengthen Sherritt's commitment to environmental, social and governance matters.
As its a nickel-primary company, Sherritt’s share price saw movement that reflected nickel hitting an all-time-high. Its share price shot up to reach a high of C$0.82 on March 10, and has largely stayed elevated since then.
2. Jervois Global (TSXV:JRV)
Year-to-date gain: 74.07 percent; current share price: C$0.94
Like Sherritt, Jervois focuses on cobalt and nickel, but is a cobalt-primary company. Its goal is to become “the leading global supplier of responsibly sourced cobalt materials … and to provide a secure, reliable supply to customers in the face of geopolitical risks.” The company is on its way to becoming the only cobalt mine in the US with its Idaho Cobalt Operations. Jervois manufactures cobalt products through its Jervois Finland subsidiary.
On January 31, the company shared its Q4 2021 report, including full-year proforma revenue at Jervois Finland of US$295.8 million. The report states that first production of cobalt and copper concentrate at its Idaho Cobalt Operations is expected in Q3 of this year following a drill program in Q1. Shares have climbed steadily throughout the year, hitting a year-to-date high of C$0.94 on April 19 after starting the year at C$0.54.
3. Canada Silver Cobalt Works (TSXV:CCW)
Year-to-date gain: 60.61 percent; current share price: C$0.265
Canada Silver Cobalt Works is a vertically integrated dual-focus exploration and development company operating in Ontario and Quebec, Canada. It intends to mine cobalt as a by-product of silver. The company is the 100 percent owner of its Castle property, which contains the past-producing silver-cobalt Castle mine. Between 1917 and 1989, the Castle mine produced 376,053 pounds of cobalt.
In addition to the Castle property, the company owns two other silver-cobalt properties — Beaver and Violet — as well as the Temiskaming Testing Laboratories in Cobalt, Ontario, which combine bullion pouring, bulk sampling, commercial assaying and e-waste processing. It is exploring its Graal battery metals project in Northern Quebec.
In March and April, Canada Silver Cobalt Works released multiple items about exploration at Graal: drill results returning up to 0.12 percent cobalt, further drill results that intersected a 13.1 meter massive sulfide zone and, most recently, the discovery of a new “major geophysical conductor.” The company also appointed a new CFO on April 1. Shares hit year-to-date highs in the week following that news, peaking at C$0.31 on April 5 and 7.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Silver Cobalt Works is a client of the Investing News Network. This article is not paid-for content.
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