In this article, we discuss the 5 best cobalt stocks to buy in 2022. If you want to read our detailed analysis of the mining industry, go directly to 10 Best Cobalt Stocks to Buy in 2022.
5. Jervois Global Limited (OTC:JRVMF) is an Australian mining and exploration company working towards becoming a global leader in responsibly sourced cobalt and nickel materials. Jervois Global Limited (OTC:JRVMF) intends to serve the battery and chemicals markets by providing a consistent supply during these uncertain times. The company acquired the Idaho Cobalt Operations (ICO) three years ago in 2019 and now intends to start commercial production from the facility by the end of this year. The new mine will be underground and will not be an open pit, which will ensure that the top of the earth is not exposed to the side effect of mining cobalt. Jervois Global Limited (OTC:JRVMF) also has exposure in Brazil following the acquisition of the São Miguel Paulista (“SMP”) nickel and cobalt refinery in 2020. The refinery had an annual cobalt production of 2,000 metric tons in 2021.
4. Panoramic Resources Limited (OTC:PANRF) is an Australian mining and exploration company. It completed the third shipment of copper-cobalt-nickel concentrate since commencing production from its Savannah nickel project in Western Australia in 2021. Panoramic Resources Limited (OTC:PANRF) has already aligned a streaming partner in the form of Jinchuan, who will receive the concentrate. Panoramic Resources Limited (OTC:PANRF) will be accepting a payment of $22 million against the shipment.
Panoramic Resources Limited (OTC:PANRF) has a backlog of 30,000 tonnes on the surface and nearly 25,000 tonnes of broken stock underneath the surface and is scheduled to send two more shipments to China. The company is a speculative play on cobalt and nickel that could give investors exposure to the upside and downside of both metals. Panoramic Resources Limited (OTC:PANRF) has an estimated reserve of 209,800 metric tons of nickel and 13,700 metric tons of cobalt.
3. Umicore SA (OTC:UMICY) makes it to the third position on our list of the 10 best cobalt stocks to buy in 2022. Umicore SA (OTC:UMICY) is working towards developing recyclable lithium-ion batteries. Furthermore, Umicore SA (OTC:UMICY) plans to incorporate blockchain technology to improve the procurement of cobalt and bring greater transparency to the entire process. Like all the major metal mining and exploration companies in this list, Umicore SA (OTC:UMICY) does not provide exposure restricted to cobalt only. The company also has exposure to copper, iridium, lithium, molybdenum, and selenium mining projects. The Brussels, Belgium-based mining company is considered an acquisition target for the South Korean LG Chem as it is looking to enhance the size of its battery materials business.
2. Sherritt International Corp. (SG:HRT.SG) is one of the pioneers in the cobalt mining industry as the Canadian company employs advanced hydrometallurgical techniques to refine cobalt and nickel. Furthermore, Sherritt International Corp. (SG:HRT.SG) is not only restricted to the refining of cobalt and nickel, but it is also the top energy producer in Cuba. The company is an ideal investment for those who care about the environmental, social, and governance aspects of corporations, as the firm publishes ESG reports at regular intervals.
In Q1 2022, Sherritt International Corp. (SG:HRT.SG) reported that the company grew its Adjusted EBIDTA to $58.5 million, an increase of 94% YoY. The company also received $4.2 million in energy payments from Cuba. Sherritt International Corp. (SG:HRT.SG) expects its production levels to remain stable in the near future.
1. Carpenter Technology Corporation (NYSE:CRS) secures the first position on our list of 10 best cobalt stocks to buy in 2022. The Philadelphia, Pennsylvania-based specialty metals company has become a leading firm in premium specialty alloys like nickel that has applications in the aerospace, defense, consumer end-use markets, and transportation industries.
Since the start of 2022, the stock price of Carpenter Technology Corporation (NYSE:CRS) has gained nearly 19% as compared to the broader market’s decline of 14.5% during the same period. This reflects that Carpenter Technology Corporation (NYSE:CRS) stock has momentum despite the broader market being hindered by rising inflation and anticipation of further interest rate hikes. Carpenter Technology Corporation (NYSE:CRS) beat the analysts’ Q1 2022 EPS estimate of $0.2 by $0.07. Moreover, the company also surpassed the revenue forecast by $73.3 million.
As of Q4 2021, Carpenter Technology Corporation (NYSE:CRS) was owned by 14 hedge funds, with a combined value of $47.32 million.
You can also take a peek at the 10 Best ETFs to Invest In for Retirement and 10 Biotech Penny Stocks with Growth Catalysts.
