The sector that dominated the ASX performance charts in August

Highlights

  • ASX-listed lithium and battery stocks have topped the list of top performers in August.
  • The gains were recorded despite market volatility ruling the roost in mid-August and high valuations enabling sellers to take hold of the situation.
  • The two major triggers for the boom in lithium stocks are higher spot prices and increased global focus on electric vehicles (EVs). 

ASX-listed lithium and battery stocks have topped the list of top performers in August once again, giving healthy returns to their shareholders. The gains were recorded despite market volatility ruling the roost in mid-August and high valuations enabling sellers to take hold of the situation. The two major triggers, driving lithium share prices up, are – higher spot prices and increased global focus on electric vehicles (EVs).

Here, we look at three ASX-listed lithium stocks that advanced by more than 50% in August 2021.

Charger Metals NL (ASX:CHR)

Shares of Charger Metals have given a return of over 160% in the past month, with its stock price rising from AU$0.23 to AU$0.63. The year-to-date return stands at over 170%. The shares hit a 52-week high of AU$0.91.

Listed on the ASX on 9 July, Charger Metals raised AU$6 million at an issue price of AU$0.20 from its initial public offering (IPO).

Source: © Wutzkoh | Megapixl.com

The capital raised will be used by the company for its exploration activities to determine if these projects can be monetised or not, going forward. The company recently announced the start of exploration activities at Bynoe and an aerial electromagnetic survey at Coates.

Novonix Ltd (ASX:NVX)

Shares of Novonix have given a return of over 70% in August, with the share price rising from AU$2.58 to AU$4.52. The year-to-date return stands at over 270%. The stock hit a 52-week high of AU$4.96.

                       

Which sector dominated the ASX performance charts in August?

 

The company is into the supply and development of battery materials, services, and equipment for the global lithium-ion battery industry.

On 26 August 2021, Novonix released its results for FY21. The lithium miner reported nearly 23% surge in revenue to AU$5.2 million. It reported a loss before tax of AU$18 million.

The company has a short-term goal to produce its own synthetic graphite used in lithium-ion batteries, with a target capacity of 10,000 tonnes per annum in early 2023. Novonix expects to increase its capacity to 40,000 tonnes by 2025 and 150,000 tonnes by 2030.

Source: ©  Smartcoder   | Megapixl.com

Jindalee Resources Ltd (ASX:JRL)

Shares of Jindalee have given a return of over 50% last month, with the share price rising from AU$3.79 to AU$3.80. The year-to-date return stands at over 377%. The shares hit a 52-week high of AU$4.05.

The Australia-based resources firm has a primary goal of creating wealth for stakeholders via the discovery of top-notch mineral deposits.

McDermitt project is the company’s flagship project.

In FY21, the company’s consolidated loss after providing for income tax was AU$504,303 compared to a loss of AU$250,878.

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