Five growth stocks that more than doubled in 2021

Summary

  • Growth stocks belong to companies with substantial cash flow and earnings.
  • The revenue of these stocks is expected to grow at a faster rate than that of industry peers.
  • Vulcan Energy, Magnetite Mines, and Sayona Mining are few growth stocks that given huge YTD returns.

Growth stocks belong to companies with substantial cash flow and earnings expected to increase at a faster rate compared to an average company within the same industry. Investors earn gains via growth stocks in relatively less time. Stocks of technology and innovation-oriented firms are generally considered as top growth stocks. There are several growth stocks listed on the ASX that have offered returns much higher than their peers so far this year.

However, one needs to do thorough research before taking any exposure, as sinusoidal market trends are evident.

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Here are five growth stocks that more than doubled in 2021:

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Vulcan Energy Resources Ltd (ASX:VUL)

Based in Perth, Vulcan Energy Resources provides solutions for electric vehicle batteries through its Zero Carbon Lithium business. The company reported completion of AU$120 million placement with a new DLE Pilot Plant for lithium extraction becoming operational in the March quarter.

Vulcan’s share price has risen 223.82% in the year so far (as of 20 July 2021). The stock price increased from AU$2.77 per share to AU$8.97 per share in the first six months of the year.

Magnetite Mines Ltd (ASX:MGT)

Magnetite Mines, listed on the ASX in 2006, is involved in exploration of iron ore and uranium under the metals and mining sector. In the last quarter earnings announcement, the company released a detailed study on supposedly the star project for the firm, namely, the Razorback iron project. Magnetite Mines has grown by a substantial 690% since the start of 2021.

Magnetite’s share price has surged 340% in the year so far (as of 20 July 2021). The stock price increased from AU$0.020 per share to AU$0.045 per share in the first six months of the year.

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Sayona Mining Ltd (ASX:SYA)

The mining stock recently announced that it had raised AU$50 million to help it purchase North American Lithium and to advance its Abitibi lithium hub in Québec. The company said that the share placement closed oversubscribed, with Piedmont Lithium (PLL) subscribing AU$8 million worth of shares.

The shares of Sayona Mining have given a YTD return of 670%. The share price has increased from AU$0.040 to AU$0.077 in the last six months.

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Global Metals & Mining Ltd (ASX:GBE)

The company develops specialty metals and minerals. The Malawi government in June had recommended the grant of a mining licence to Global Metals & Mining for GBE's Kanyika Niobium Project.

GBE also said it had received formal notification from the Principal Secretary of Mining advising the Malawi Government’s Mineral Resources Committee had reviewed Globe’s application for Kanyika Niobium and recommended the grant of a mining licence.

                       

The Buzzing Trends || Which Are The Top Growth Stocks That More Than Doubled In 2021?

 

The shares of Global Metals & Mining Ltd gave a YTD return of 250%. The share price has increased from AU$0.060 to AU$0.14 in the last six months.

8VI Holdings Ltd (ASX:8VI)

The company provides an app-based analysis tool for stock market traders. The company works on the central principle of value investing. 8VI’s revenue has risen 139% to AU$25.96 million in 2021.

8VI Holdings’ share price has climbed 240% in the year so far. The stock price increased from AU$1.66 per share to AU$4.60 per share in the first six months of the year.

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