3 Canadian stocks to buy that grew more than 100% YTD

Summary 

  • Canadian investors have been actively investing in the equity market this year despite the rise of the new Delta variant.
  • A base metal miner’s stock has soared over 346 per cent in 2021, led by the rising price of copper. 
  • Stocks of an EV battery producer have rocketed by 544 per cent YTD. 
  • A lithium stock has swelled 155 per cent this year, propelled by the rising demand from EV battery manufacturers. 

Amid the continuing uncertain times of the COVID-19 pandemic and the rise of the new Delta variant, Canadian investors have been actively investing in the equity market. This impact can be noted to a certain extent in the stock market’s performance this year, which seems to have not disappointed the investors so far. 

The broader S&P/TSX Composite Index recorded a growth of about 16 per cent this year.

In 2021, investors who have parked their funds in a clean tech or in a metal stock are likely to reel in some profits. This is largely being motored by the rise in the demand for electric vehicles and base metals industries, most stocks of which appear to be trading in bullish zones. 

On that note, here are a few Canadian stocks that are offering triple-digit growth on a year-to-date (YTD) basis.

Filo Mining Corp (TSXV:FIL)

Filo Mining Corp explores and mines copper, silver, and gold in Latin American countries, namely Chile and Argentina. Its stock price closed at a value of C$ 8.56 apiece on July 22, with a market cap of C$ 946 million.

The mining stock has grown by about 346 per cent YTD, led by the advanced exploration of precious and higher base metals’ prices. As per July 22’s closing price, Filo's share was trading about 106 per cent up against its 200-day simple moving average (SMA). 

Filo stock has recently dropped by 28 per cent against its one-year high of US$ 11.97 apiece (June 10, 2021).   

In the first quarter of 2021, the mining company reported cash in hand of C$ 28.9 million, which was down against that of C$ 36.3 million at the end of 2020. 

Extreme Vehicle Battery Technologies Corp (CSE:ACDC)

The Vancouver-based electric vehicle battery manufacturer has been capitalizing on the EV market boom in 2021. Its stock was trading at C$ 0.29 apiece, with a one-year return of nearly 2,800 per cent. 

The EV battery stock has surged by 544 per cent YTD despite dropping around 70 per cent from its one-year high of US$ 0.95 apiece (February 9, 2021). The stock recorded its price peak in the first quarter. However, the second quarter was bearish for the clean stock.

Extreme Vehicle Battery Technologies Corp’s stock has bounced back by about 866 per cent against its 52-week low of C$ 0.030 apiece (December 30, 2020). At the closing price of 29 cents, Extreme Vehicle’s stock was up 21 per cent as compared to its 200-day SMA, indicating a long-term price rally.   

The software company expects its entry into the recreational vehicle segment to boost its revenues. However, the recent correction in EV stocks has impacted its growth trajectory. 

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Standard Lithium Ltd. (TSXV:SLI)

The small-cap battery material firm has its operations based in the US. Apart from the Toronto Stock Exchange Venture (TSXV) platform, the EV battery stock is also trading on the New York Stock Exchange (NYSE). 

Its TSXV-listed stocks closed at a value of C$ 7.32 apiece on July 22, with a market cap of C$ 1.02 billion.

The lithium stock has delivered around 155 per cent returns YTD. 

Standard Lithium Ltd’s stock has climbed by about 591 per cent in the last one year, primarily guided by the unprecedented rise in the demand from EV makers.

The company reported a top line of US$ 77 million in the first quarter of 2021, which was a rise of about two per cent on a quarter-over-quarter (QoQ) basis. This growth was noted despite Standard Lithium’s non-functional operations due to the COVID-19 pandemic during the quarter. 

Shares of Standard Lithium continue to trade in the bullish zone against its moving average multiples. 

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