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After a strong start to the year, the U3O8 spot price began a downward trend midway through 2020.
It slipped below the US$30 per pound mark in the third quarter and remained at that level into Q4.
While uranium was unable to retain its early 2020 values, a number of producers and explorers still saw share price growth over the course of the year. Whether expanding drill efforts or raising capital, the sector has been busy with activity.
Below the Investing News Network has listed the top uranium stocks on the TSX and TSXV by share price performance so far this year.
All year-to-date and share price information was obtained using
TradingView
‘s stock screener on December 7, 2020. All companies listed had market caps above C$10 million at that time.
1.
Baselode Energy
(TSXV:
FIND
)
Year-to-date gain: 714.29 percent; current share price: C$0.57
Baselode Energy’s aim is to discover a uranium orebody in Saskatchewan’s Athabasca Basin area. The exploration company is focused on basement-hosted deposits, and its Shadow and Hook projects can be found just outside the prolific uranium hotspot in the Athabasca Basin 2.0 region.
Although it only
began trading
midway through the year, Baselode recorded a major gain and takes the first spot on this list of top uranium stocks year-to-date. Since its launch in June, the company has
detailed plans
at its Shadow and Hook properties and
aims to start drilling
in Q1 of next year.
The company’s highest share price point came in early October, just before it
closed a $2.5 million tranche
of a $3 million non-brokered private placement of both flow-through and non-flow-through units. The remainder
closed in mid-October
.
2.
IsoEnergy
(TSXV:
ISO
)
Year-to-date gain: 305 percent; current share price: C$1.60
Uranium exploration and development company IsoEnergy has a portfolio of uranium projects in the Eastern Athabasca Basin. According to the company, it recently discovered the Hurricane zone of uranium mineralization at its Larocque East property.
IsoEnergy has trended upward over the course of the year, and has steadily released drill results from Hurricane during that time. Aside from that, this year the company has
staked new properties
in the Eastern Athabasca Basin; it’s also
agreed to sell several projects
and closed financings.
3. enCore Energy (TSXV:
EU
)
Year-to-date gain: 258.82 percent; current share price: C$0.62
enCore Energy’s goal is to advance its US-based in situ recovery and conventional uranium properties. The exploration and development company is another of the top uranium stocks and holds over 115,00 acres of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. It also has assets in Utah, Arizona and Wyoming.
This year has brought steady upward momentum for enCore Energy. Its activities over that time have included appointing a new
CEO
and
CFO
,
signing a deal
to acquire Westwater Resources’ (NASDAQ:
WWR
) US uranium assets and
closing a financing
. enCore also
formed Group 11 Technologies
, a private venture whose aim is to test and implement non-invasive
precious metals
extraction
technologies
using environmentally friendly solutions.
4. International Consolidated Uranium (TSXV:
CUR
)
Year-to-date gain: 130 percent; current share price: C$0.68
Formerly NxGold, International Consolidated Uranium
revealed a name and ticker change
in early September. The company also announced a private placement at that time,
later increasing it
and then
closing it on October 1
for gross proceeds of C$3.2 million.
In recent months, International Consolidated Uranium’s focus has been on adding uranium assets to its portfolio. It has option agreements in place with Mega Uranium (TSX:
MGA
,OTC Pink:MGAFF) and IsoEnergy, and at the beginning of December it
closed an option agreement
for the Moran Lake uranium-
vanadium
project with a private arm’s length party.
The company also holds 80 percent of the Western Australia-based Mount Roe
gold
project and can earn up to a 70 percent stake in the Kuulu gold project in Nunavut.
5. Forsys Metals (TSX:
FSY
)
Year-to-date gain: 100 percent; current share price: C$0.26
Emerging uranium producer Forsys Metals holds the Norasa project in Namibia, where it has completed a definitive
feasibility study
. According to the company, Norasa has proven and probable reserves of 206 million tonnes grading 200 parts per million U3O8, which equates to 91 million pounds of U3O8. Norasa contains the Valencia and Namibplaas assets.
There has been little news from Forsys this year. Its share price high points came in mid-April and early December, although the company remained steady between those periods.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Baselode Energy and IsoEnergy are clients of the Investing News Netework. This article is not paid-for content.