Introduction to Nickel Stocks
The nickel market has been gaining attention in recent years due to its increasing demand for use in electric vehicle batteries and other renewable energy technologies. As a result, several nickel stocks have seen significant gains in the market. Here are three nickel stocks that have shown notable year-to-date gains.
Top Performing Nickel Stocks
1. Nordic Resources (ASX:NNL)
Nordic Resources has seen a year-to-date gain of 43.75 percent, with a market cap of AU$17.51 million and a share price of AU$0.12. The company is advancing exploration on its Pulju nickel-copper-cobalt project in Northern Finland, which hosts a near-surface JORC-compliant resource with the potential to produce class 1 nickel and battery materials for European markets. The 2024 JORC mineral resource estimate is contained within the Hotinvaara deposit, with indicated resources of 42 million tonnes at 0.22 percent nickel for 92,700 tonnes of contained nickel, as well as inferred resources of 376 million tonnes at 0.21 percent nickel for 770,100 tonnes of contained nickel.
2. Pivotal Metals (ASX:PVT)
Pivotal Metals has seen a year-to-date gain of 42.86 percent, with a market cap of AU$8.17 million and a share price of AU$0.010. The company has two properties in Québec, Canada: the Belleterre-Angliers Greenstone Belt (BAGB) project and its flagship advanced-exploration Horden Lake project. Both properties contain copper, nickel, and platinum group metals mineralization. Horden Lake hosts a JORC-compliant indicated and inferred mineral resource estimate of 27.8 million tonnes at 1.49 percent copper equivalent, comprising copper, nickel, palladium, and gold.
3. Ardea Resources (ASX:ARL)
Ardea Resources has seen a year-to-date gain of 7.94 percent, with a market cap of AU$75.88 million and a share price of AU$0.365. The company is developing its wholly-owned Kalgoorlie nickel project (KNP) in Western Australia, which includes the Goongarrie Hub deposit. The company has said the project “hosts the largest nickel-cobalt resource in the developed world.” It is currently working towards a planned definitive feasibility study (DFS). A 2023 prefeasibility study for the KNP Goongarrie Hub shows an ore reserve of 194.1 million tonnes at 0.7 percent nickel and 0.05 percent cobalt, resulting in 1.36 million tonnes of contained nickel and 99,000 tonnes of contained cobalt.
Conclusion
These three nickel stocks have shown significant year-to-date gains, with Nordic Resources and Pivotal Metals leading the way. Ardea Resources, while having a lower year-to-date gain, has a larger market cap and is developing a significant nickel project in Western Australia. As the demand for nickel continues to grow, these stocks may be worth keeping an eye on for potential future gains.
