The Investing News Network has compiled a list of this year's top-performing vanadium stocks on the TSX, TSXV and CSE.
Click here to read the latest top vanadium stocks article.
The past few years have brought renewed interest in vanadium and the top vanadium stocks. Experts anticipate that the battery metal, which is used mainly as an alloy in steel manufacturing, will see an uptick in demand thanks to its increased use in the energy storage sector.
The silvery-gray metal's rise to prominence has piqued the interest of analysts and investors who see the value in a battery metal that is safer, longer-lasting and more durable than lithium.
Here the Investing News Network has compiled a list of the top vanadium stocks so far this year on the TSX, TSXV and CSE. All companies listed had market caps of at least C$10 million at the time of publication, and all year-to-date and share price information was obtained on December 29, 2021, using TradingView's stock screener.
1. Energy Fuels
Year-to-date gain: 88.15 percent; current share price: C$10.16
Energy Fuels (TSX:EFR) is best known as a uranium miner, but the company also mines vanadium when market conditions are favorable, and it is gearing up to produce rare earth carbonates at commercial scale.
The US-focused company holds the Utah-based White Mesa mill, as well as two in-situ recovery (ISR) projects: Nichols Ranch in Wyoming and Alta Mesa in Texas. White Mesa is the country's only operating conventional uranium mill, and it is also the home of the company's vanadium and rare earths operations. Aside from those major assets, Energy Fuels has various other uranium-vanadium projects in earlier stages of development.
In its Q3 financial results, released on November 1, Energy Fuels commented on the uranium, vanadium and rare earths markets, highlighting its optimism about all three. However, despite this year's uranium price rise, the company is not yet ready to start production at its mines and ISR facilities, and will instead continue to recover the commodity at reduced levels; it also does not expect to produce any vanadium in 2021.
Shares of Energy Fuels peaked on November 11 at C$13.81.
2. Western Uranium & Vanadium
Year-to-date gain: 73.39 percent; current share price: C$1.89
Western Uranium & Vanadium (CSE:WUC) has honed its efforts on low-cost, near-term production of uranium and vanadium. The company has uranium and vanadium properties in Western Colorado and Eastern Utah that it acquired from Energy Fuels in 2014, as well as other uranium projects that it received via the acquisition of Black Range Minerals. The Black Range purchase also added ablation technology to the company's portfolio.
In June, Western Uranium & Vanadium announced a strategic acquisition of natural uranium concentrate. The purchase has now been completed, and in its latest update the company states that it paid US$32 per pound for 125,000 pounds of material; the current spot price is more than US$40. Also over the summer, the firm revealed plans to restart production at its Sunday mine complex, and a mid-November release indicates that good progress is being made. Shares of the company hit a 2021 high of C$3.97 on September 15.
3. Voyager Metals
Year-to-date gain: 30.77 percent; current share price: C$0.17
Voyager Metals (TSXV:VONE) is moving forward at its vanadium-rich Mont Sorcier magnetite iron ore project in Quebec. Mont Sorcier consists of North and South deposits, and according to the company the asset has a high-quality iron resource as well as low titanium content, which means that vanadium extraction will be simple.
Formerly known as Vanadium One Iron, Voyager changed its name in October. Company shares spiked to a 2021 high point on May 6, reaching C$0.34. The increase came about a week prior to Voyager's announcement that it will be working with a subsidiary of Glencore (LSE:GLEN,OTC Pink:GLCNF) to develop Mont Sorcier.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels and Western Uranium & Vanadium are clients of the Investing News Network. This article is not paid-for content.