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Highlights:
- Graphite is a widely used industrial element.
- Graphite also plays a key role in battery manufacturing.
Graphite is a naturally occurring element which has multiple uses in our daily lives. The element is needed to produce several items such as pencils, lubricants, and electrodes. Graphite also plays a key role in battery manufacturing.
On this note, we discuss five ASX-listed graphite stocks that are listed under the Materials sector on ASX. These graphite stocks are NOVONIX Limited (ASX:NVX), Renascor Resources Limited (ASX:RNU), Syrah Resources Limited (ASX:SYR), Magnis Energy Technology Ltd (ASX:MNS) and Quantum Graphite Limited (ASX:QGL).
NOVONIX Limited (ASX:NVX)
Battery materials producer NOVONIX Limited (ASX:NVX) announced on Wednesday that its shares will be put on a trading halt until the commencement of normal trading on Friday (21 October 2022). Meanwhile, NOVONIX’s shares last traded at AU$2.130 apiece as of Tuesday (18 October 2022).
In the last 12 months, NOVONIX’s share price has dropped by almost 63% on ASX and on a year-to-date (YTD) basis, the company’s share price fell by almost 80% on ASX (as of 4:10 PM AEDT on Tuesday).
NOVONIX is listed under the Materials sector on ASX. The company mainly deals with the development and supply of battery materials, services, and equipment for the lithium industry globally. With a market capitalisation of AU$1.03 billion, NOVONIX is headquartered in Brisbane, Australia.
Other than Australia, NOVINIX also operates in the US and Canada, with sales in 14 countries across the globe. NOVINIX holds majority interest in the pure graphite battery joint venture based in the US.
Renascor Resources Limited (ASX:RNU)
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Renascor Resources Limited’s (ASX:RNU) shares opened trading at AU$0.205 apiece at 10:18 AM AEDT on Wednesday morning. Over the last 12 months, Renascor’s share price has gained around 46% on ASX. On a YTD basis, Renascor’s share price appreciated almost 14% on ASX (as of 10:18 AM AEDT today).
Renascor Resources Limited (ASX:RNU) is a mineral explorer and development company listed under the Materials sector on ASX. The current market capitalisation of Renascor is AU$445.60 million. The company holds assets in key mineral districts in South Australia. One of the significant projects owned by Renascor is the Siviour Graphite Project. Some of the other projects owned by Renascor in South Australia are Eastern Eyre, Farina, Gairdner and Olary. The company also owns a project in Western Australia, the Munglinup Project.
Syrah Resources Limited (ASX:SYR)
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Shares of the graphite miner Syrah Resources Limited (ASX:SYR) opened trading on a positive note on ASX on Wednesday morning. Syrah’s share price gained 1.988% to AU$1.795 per share at 10:42 AM AEDT today.
During the last 12 months, Syrah’s share price has gained around 57% on ASX, and on a YTD basis, Syrah’s share price declined by almost 7% on ASX (as of 10:42 AM AEDT today)
With a market capitalisation of AU$1.18 billion, Syrah Resources Limited is an ASX-listed graphite supplier. The company is engaged in the construction and development of the Balama Graphite Project in Mozambique.
Other than supplying graphite, the company is also involved in sales and marketing arrangements with targeted customers. Furthermore, Syrah is also involved with the development of a downstream battery anode material strategy.
Magnis Energy Technology Ltd (ASX:MNS)
Shares of the battery material explorer Magnis Energy Technology Ltd (ASX:MNS) opened Wednesday’s trading session on a negative note. Magnis’ share price fell 1.388% on ASX to AU$0.355 per share at 10:12 AM AEDT today.
Over the last 12 months, Magnis’ share price has fallen almost by 4% on ASX and on a YTD basis, the company’s share price dropped almost 38% on ASX (as of 10:12 AM AEDT today).
Magnis Energy Technology Ltd is an Australia-based battery material explorer and graphite producer. Magnis has lately shifted to the battery technology industry. The company’s key graphite asset includes the Nachu Project near Ruangwa, Southern Tanzania. At present, Magnis holds a market capitalisation of AU$349.31 million.
Quantum Graphite Limited (ASX:QGL)
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Australian graphite explorer Quantum Graphite Limited (ASX:QGL) shares opened trading in the green zone on Wednesday morning. Quantum’s share price gained 5.263% on ASX to AU$0.400 per share at 10:12 AM AEDT today.
During the last one year, Quantum’s share price has gained 150% on ASX, while the company’s share price appreciated 25% on ASX in the last six months (as of 10:12 AM AEDT today).
Established in the year 2014, Quantum Graphite Limited is listed under the Materials sector on ASX. The company primarily deals with the business of exploring, producing, processing, and selling graphite products globally. Quantum was initially known as Valence Industries Limited. Quantum now owns processing facilities and infrastructures for the manufacturing of graphite products that are essential for several other industries. Quantum is headquartered in Victoria, Australia.
Meanwhile, majority of the sectors under the benchmark ASX 200 index opened on Wednesday in the green. The Utilities sector recorded maximum gains on ASX , while the Energy sector was incurred maximum losses around the same time.
The ASX 200 index (INDEXASX:XJO) was trading 6796.9 points, up by 0.261% or 17.7 points, on ASX at 10:58 AM AEDT. The ASX 200 Materials sector (INDEXASX:XMJ) was trading at 15731.8 points, down by 0.107% or 16.9 points on ASX at 11:08 AM AEDT.
