LGO - Top Vanadium Stocks on the TSX and TSXV
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The past few years have brought renewed interest in vanadium. 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 meteoric rise of the silvery-gray metal 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 .
Once considered a mere by-product of uranium mining, in recent years the market has seen a renewed focus and respect for the industrial metal with a lot of battery potential.
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Here, the Investing News Network has compiled a list of the top vanadium stocks so far this year on the TSX and TSXV. All companies listed had market caps of at least C$5 million at the time of publication, and all year-to-date and share price information was obtained on July 9, 2021, from TradingView .
1. Largo Resources (TSX: LGO )
Current price: C$19.16; year-to-date gain: 38.19 percent
Vertically integrated vanadium company Largo Resources has developed multiple vanadium market applications through its VPURE and VPURE+ products. These products originate from the company’s Maracás Menchen mine in Brazil, one of the world’s highest-grade vanadium deposits.
Largo is also working on renewable energy storage solutions through its VCHARGE± vanadium redox flow battery technology .
Largo released its Q1 financial results in May, reporting net income of US$4.1 million. Shares of the company hit a 2021 high of C$22.96 on May 3.
2. Energy Fuels (TSX:EFR)
Current price: C$6.72; year-to-date gain: 24.44 percent
Energy Fuels is best known as a uranium producer. However, in 2019, the company’s White Mesa mill in Utah became the number one producer of vanadium in the US, with production levels reaching 1.9 million pounds at 99.7 percent high-purity vanadium.
The company’s La Sal complex in Eastern Utah encompasses a series of uranium-vanadium mines, including the Beaver, Pandora, La Sal, Energy Queen and Redd Block projects.
In May, Energy Fuels released its results for the first quarter ; among other things, it reported inventory of 1,672,000 pounds of high-purity vanadium in the form of immediately marketable product. At the time, the company had no plans to produce vanadium in 2021. Energy Fuels’ share price climbed to a year high of C$9.75 on March 16.
3. Lara Exploration (TSXV: LRA )
Current price: C$0.695; year-to-date gain: 6.15 percent
Prospect and royalty generator Lara Exploration holds a diverse metals portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. One of those assets is the Itaítuba vanadium project.
In April, Lara Exploration announced that diamond drilling identified more extensive vanadium mineralization at Itaítuba, which is located in the Tapajós region of Northern Brazil. The company plans to undertake further geophysical surveys and follow-up drilling later in the year.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.