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Highlights
- Battery stocks have constantly been in the limelight recently with the world economies attempting to shift towards carbon neutrality.
- Battery technologies based on lithium, cobalt, graphite, and nickel are essential in the emerging electric vehicles (EV) and energy storage system (ESS) space.
- A lithium stock mentioned here gained by about 447 per cent year-to-date.
Battery stocks have constantly been in the limelight recently with the world economies attempting to shift towards carbon neutrality.
Battery technologies based on lithium, cobalt, graphite, and nickel are essential in the emerging electric vehicles (EV) and energy storage system (ESS) space.
On that note, let us explore some of the top Canadian battery stocks of 2021.
Image source:© 2021 Kalkine Media®
- Lithium Americas Corp (TSX:LAC)
A Vancouver-based lithium company, Lithium Americas Corp posted cash and cash equivalents of C$ 482 million in the third quarter of fiscal 2021.
In November 2021, the company inked a definitive acquisition agreement with Millennial Lithium Corp to grow its lithium operations and extract key potential synergies in Salta, Argentina.
LAC stock soared by almost 133 per cent year-to-date (YTD). The lithium stock closed at C$ 37.20 apiece on Friday, December 17.
Also read: Canada’s lithium market: What to expect in 2022
2. NextSource Materials Inc (TSX:NEXT)
On December 14, NextSource Materials Inc said that it has completed the fabrication and assembly of the Molo Graphite Mine processing plant. The firm also initiated its Factory Acceptance Testing (FAT).
The Toronto-headquartered graphite explorer reported cash and cash equivalents of US$ 18.95 million in the first quarter of fiscal 2022.
NEXT stock expanded by over 252 per cent in 2021. The graphite stock closed at C$ 3.17 apiece on December 17.
3. Standard Lithium Ltd (TSXV:SLI)
Standard Lithium Corp, on December 15, announced its intentions to work with Koch Engineering Solutions to support the pre-front end engineering design at its Lanxess facility in South Arkansas. This site is its first commercial direct lithium extraction plant.
SLI stock delivered a YTD return of over 309 per cent. It closed at C$ 11.66 apiece on December 17.
4. Rock Tech Lithium Corp (TSXV:RCK)
Rock Tech Lithium Corp is working on the lithium hydroxide (LiOH) converter technology, which will minimize energy usage and wastage.
On November 29, the company detailed the converter engineering study for its Guben, Germany-based LiOH converter and refinery facility.
RCK stock closed at C$ 6.02 apiece on December 17 and grew by over 256 per cent YTD.
5. Wealth Minerals Ltd (TSXV:WML)
Wealth Minerals Ltd is a Vancouver-based exploration company with lithium brine projects in Chile, Peru, Mexico and British Columbia.
In October 2021, Wealth Minerals acquired a block of World Copper Ltd’s shares from Gold Springs Resource Corp-owned Escalones Resource Corp. This block contained 13,225,197 common shares.
WML stock gained by about 447 per cent YTD, and on December 17, it closed at C$ 0.465 apiece.
Bottom line
Battery metals are key elements that can provide energy-efficient solutions in the future. Such stocks could become significant players amid new developments and innovations in renewable energy sources.
Also read: 5 top Canadian renewable stocks of 2021
