NVX, RNU, SYR: ASX-listed Graphite stocks to watch out in June 2022 - Kalkine Media

June 02, 2022 05:31 PM AEST | By Priyanka Payal
Follow us on Google News:

Highlights

  • Graphite stocks have been on investors' watchlists for a while now.
  • Today, the Australian equities were trading lower as the benchmark index ASX 200 was down 0.988% at 7162.500 points at 2:08 PM AEST.
  • The S&P/ASX 200 Materials (Sector) XMJ was 0.863% lower at 17712.300 points at 2:40 PM AEST today.

The Australian equities were trading lower as the benchmark index ASX 200 was down 0.988% at 7162.500 points at 2:08 PM AEST today. A total of nine out of 11 sectors traded lower today, while the energy sector was the best performing sector as the rise in oil prices seems to have pushed the energy stocks higher today. 

Meanwhile, the S&P/ASX 200 Materials (Sector) XMJ was 0.863% lower at 17712.300 points at 2:40 PM AEST today. Recently, we have seen that ASX investors are focusing on green metals, including Lithium and various others. Of these, though, Graphite doesn't fall in the metal category, but Graphite stocks have been attracting investors for a while now. This is partly because of its use in Lithium-ion batteries used in electric vehicles (EVs).

As electric vehicles are gaining popularity across the world, there are predictions that Graphite demand will rise further in future. 

In this backdrop, let us look at three ASX-listed Graphite stocks that have been on investors' radar recently. These three stocks include- Renascor Resources Limited (ASX:RNU), Novonix Limited (ASX:NVX), and Syrah Resources Limited (ASX:SYR).

Image Source: © Jonnysek | Megapixl.com

Novonix Limited (ASX:NVX

Novonix shares traded 1.120% lower at AU$3.530 per share on ASX at 3:20 PM AEST. Novonix is an ASX-listed battery materials and technology company assisting an electrified future for EVs and grid energy storage. The company has a market capitalisation of AU$1.73 billion. In the last one year, the share price of Novonix Limited has gained roughly 49.58%, while the stock is down up to 66.44% YTD. 

Syrah Resources Limited (ASX:SYR)

The shares of yrah Resources Limited were trading 1.829% lower at AU$1.610 per share on ASX at 3:30 PM AEST today. The company has a market capitalisation of AU$1.09 billion. Syrah Resources Limited's shares have gained 49.07% in the last one year, while the stock is down 16.58% YTD.

The industrial minerals & technology company is known for its flagship Balama Graphite Operation (Mozambique) and a downstream Active Anode Material facility (US). 

Renascor Resources Limited (ASX:RNU)

Renascor Resources' shares were seen trading 1.162% lower at AU$0.212 per share on ASX at 3:36 PM AEST today. The share price of Renascor Resources Limited has gained almost 135% in the last one year. Meanwhile, the stock is up close to 17% YTD.

 The ASX-listed Australian company is involved in the exploration of Graphite, uranium, copper, gold, and other minerals. The company has a market capitalisation of AU$463.03 million. 

Read More: Australia set for 3rd year of bumper wheat harvests, easing world supply woes

Bottom Line:

Graphite is widely used in the steel and automotive industries. China is the leading Graphite producing country in the world but is experiencing reserve depletion. In order to conserve local supplies, the Chinese government has imposed tariffs on graphite exports. Given the little graphite availability outside China, the EU and the US have termed Graphite a critical mineral.

Read More: Atturra (ASX:ATA) acquires OpenText partner, Hayes


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK