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Highlights
- The S&P/TSX Venture Energy (Sector) Index is up nearly six per cent year-to-date (YTD)
- LXE has risen 235 per cent in a year
- ISO has gained 8.5 per cent YTD
The S&P/TSX Venture Energy (Sector) Index is up nearly six per cent year-to-date (YTD). In comparison, the S&P/TSX Venture Composite Index has lost over 13 per cent in the same time frame and the S&P/TSX Composite Index is down over two per cent.
It thus may be fair to say that the energy sector has performed decently so far in 2022. However, the Canada stock market, like other stock markets around the world, seems to have hit a bearish phase, the benchmark TSX Composite having lost 5.15 per cent in April.
Amid this volatile market, let’s look at some TSXV energy stocks.
Leucrotta Exploration Inc (TSXV:LXE)
Leucrotta’s stock closed Friday, April 29, at C$2.01. The stock has been on a rally over the last year.
In May 2021, it was priced at C$0.59 and is currently 241 per cent above that. Over the last 12 months, it has risen 235 per cent.
In bearish 2022, it has gained 123 per cent, including 0.5 per cent in April. The stock has a price-earning-ratio of 5.3.
Also read: SLI, SGML, LI, FL & RCK: 5 TSXV lithium stocks to hold for 5 years
IsoEnergy Ltd (TSXV:ISO)
Uranium explorer IsoEnergy’s stock closed Friday at C$4.06. It is a C$433 million market cap company.
ISO has also gained this year, up 8.5 per cent. It is up 48 per cent in a year.
ISO had a loss of 17 per cent in April and is currently trading nearly 39 per cent below it 52-week high of C$6.61. And, it has risen 108 per cent since its one-year low of C$1.95 in July 2021.
Also read: TAL, AFE, PSH, QRC & QUIS: 5 dirt-cheap penny stocks to consider in May
CGX Energy Inc (TSXV:OYL)
OYL closed Friday at C$1.60. On March 10, CGX said it had received a US$35 million loan from Frontera Energy Corporation, which is listed on the TSX.
On that day, the trade volume of the OYL stock rocketed and its price gained about 10 per cent.
It is currently 95 per cent above its one-year low of C$0.82, which came in May 2021. OYL has gained 74 per cent in 12 months but is in the red on a YTD basis.
Also read: CPG, MEG, PSK, SSRM & TRQ: 5 TSX no-brainer mid cap stocks for March
Uranium Royalty Corp (TSXV:URC)
URC closed at C$4.25 Friday. It has gained 19 per cent in nine months and about eight per cent in three months.
URC is down seven per cent on a YTD basis and is currently trading 42 per cent below its one-year high of C$7.31 seen in October 2021.
It has a market cap of C$403 million.
enCore Energy Corp (TSXV:EU)
EU closed Friday at C$1.41. The last time the stock was in a similar kind of price range (slightly lower), it rebounded.
The stock has gained over the last 12 months but is down 21 per cent YTD. It is currently 38 per cent below its one-year high of C$2.27 that came in September last year.
Also read: NGEX, CRE, AMX, NFG & AFM: 5 TSXV mining stocks to buy in May?
Bottom line
As seen in the above graphic, all these stocks trade under C$5. The TSXV energy sector has seen gains this year. With the Russia-Ukraine war continuing both Canadian oil and gas stocks and Canadian uranium stocks may stand to gain.
Also read: How does current inflation compare to 1970s stagflation?
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
