AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- ASX 200 was up 0.90% at 6,491.30 points in the initial few minutes of trading today.
- The shares of four ASX-listed Graphite stocks, Novonix Limited, Renascor Resources Limited, Syrah Resources Limited, and Magnis Energy Technologies Limited, traded over 3% higher on Tuesday.
- The S&P/ASX 200 Materials (Sector) XMJ was up 2.187% at 16025.500 points at 12:03 PM AEST today.
The market for Electric vehicle (EVs) industry is growing at a rapid pace globally and it has led to a huge demand for Lithium. On one hand, a lot is being written and said about Lithium but there is no such buzz for an "Orphaned commodity" which is popularly known as Graphite. It is to be noted that Graphite is an important raw material for EVs battery, and it is expected that the demand for Graphite would grow five-fold by 2050.
Australia has vast potential in producing Graphite and it is said that Australia has the potential to challenge the dominance of China in the Graphite market.
In this article, we will talk about four ASX-listed Graphite companies - Novonix Limited, Renascor Resources Limited, Syrah Resources Limited, and Magnis Energy Technologies Limited.
The stocks of four Graphite companies mentioned above traded in the green today as the broader index recovered from its past few day's losses and moved northward in today's intraday trading.
Read More: Volpara (ASX:VHT) inks deal with Microsoft, here’s how shares reacted
Image Source: © Limbi007 | Megapixl.com
Novonix Limited (ASX:NVX)
The shares of Novonix Limited traded 6.837% higher at AU$2.500 per share on ASX at 12:49 PM AEST today. The company has a market capitalisation of AU$1.13 billion. In the last one year, Novonix shares have gained nearly 16%, while the stock has fallen almost 76.24% on year-to-date (YTD).
Renascor Resources Limited (ASX:RNU)
The shares of Australia-based exploration company Renascor Resources Limited, which also explores Graphite along with other minerals, traded 6.666% higher at AU$0.160 per share on ASX at 12:40 PM AEST today. The company has a market capitalisation of AU$323.13 million. Renascor Resources' share price has gained around 121.43% in the past 12 months, while the stock is down nearly 11.11% on YTD.
Syrah Resources Limited (ASX:SYR)
Shares of Syrah Resources Limited traded 3.539% higher at AU$1.170 per share on ASX at 1:03 PM AEST today. Syrah Resources Limited commands a market capitalisation of AU$756.47 million. The share price of Syrah Resources Limited has increased nearly 21.87% in the past 12 months, while the stock has fallen almost 39.38% on YTD. The company is known for its flagship Balama Graphite Operation in Mozambique and a downstream Active Anode Material Facility in the US.
Magnis Energy Technologies Limited (ASX:MNS)
The share price of Magnis Energy Technologies Limited was spotted trading 3.333% higher at AU$0.310 per share on ASX at 12:38 PM AEST today. The company has a market capitalisation of AU$289.94 million. In the last one year, the shares of Magnis Energy Technologies Limited have gained nearly 12%, while the stock is down almost 45.61% on YTD. Magnis Energy Technologies, via its Tanzanian subsidiary Uranex Tanzania Limited, owns a 100% interest in the Nachu graphite project located near Ruangwa, in southeast Tanzania.
Read More: Musgrave Minerals (ASX:MGV) strengthens exploration team with latest appointment
