CXO, AVZ: Two ASX lithium shares with over 300% past-year gains

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CXO, AVZ: Two ASX lithium shares with over 300% past-year gains

LKE, CXO, AVZ: Three ASX lithium shares with over 300% gains in past year
Image source: © Olivier26 | Megapixl.com

Highlights

  • Australian shares have traded on an uncertain note in the past one year.

  • The ASX All Ordinaries Index has fallen nearly 10% in the past year.

  • A few lithium stocks have given returns of over 300% in the past year.

The Australian share market has witnessed choppy trading in the past months on account of geopolitical tensions, rising inflation, and interest rates. To put in the context, ASX All Ordinaries has fallen nearly 10% in the past year. The ASX 200 has also plunged nearly 12% in the period under review.

However, not all shares have witnessed a decline. In fact, there are a few lithium stocks which have given returns of over 300% to their shareholders in the past year. The gains made were on account of positive announcements and rising demand of lithium in electric vehicle (EV) batteries.

On this note, let’s discuss about two ASX All Ordinaries lithium shares that have risen over 300% in the past year:

Core Lithium Ltd (ASX:CXO)

Core Lithium is involved in discovering and exploring mineral deposits (lithium, copper, etc.) in the Northern Territory and South Australia.

As of Tuesday’s closing, the CXO share price has risen 386% in the past one year. On a YTD basis, CXO has surged nearly 93%.

Core Lithium is currently working to develop the Finniss Project located in the Northern Territory. The company expects production at the project to start before the year’s end.

AVZ Minerals Ltd (ASX:AVZ)

AVZ Minerals is a mineral exploration company focused on developing Manono Lithium and Tin Project situated in the south of the Democratic Republic of Congo in central Africa.

AVZ shares have surged over 380% over the last 12 months. But it’s stuck at AU$0.78 since early May.

The stock price has frozen as the firm pushes through an ownership dispute with respect to its Manono Project.

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The Australian share market has witnessed choppy trading in the past months on account of geopolitical tensions, rising inflation, and interest rates. To put in the context, ASX All Ordinaries has fallen nearly 10% in the past year. The ASX 200 has also plunged nearly 12% in the period under review.

However, not all shares have witnessed a decline. In fact, there are a few lithium stocks which have given returns of over 300% to their shareholders in the past year. The gains made were on account of positive announcements and rising demand of lithium in electric vehicle (EV) batteries.

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