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British Columbia’s top mining stocks hit speed bump in 2021

British Columbia. Stock Image.

British Columbia’s top-performing mining stocks did not perform nearly as well this year as they did in 2020, according to data collected on Business in Vancouver’s Top-Performing B.C.-based Mining Stocks list.

In 2020, the average value of B.C.’s top performing mining stocks jumped 228% compared with 87.4% the year before.

It was the second straight year of significant growth in the value of B.C.-based mining stocks. That value more than doubled in 2019 from 30.1% in 2018.

However, in 2021 the average growth in the value of those stocks slipped to its second lowest level in five years: 64.2%.

2020’s top performing mining stock, Freegold Ventures Ltd. (TSX:FVL), grew 1,580% to $0.84 per share from $0.05 in 2019. The value of this year’s top performing stock, Capstone Mining Corp. (TSX:CS), increased 214.8% to $5.73 per share compared with $1.82 in 2020. Capstone’s 2021 growth rate would have placed it sixth on 2020’s list.

While the last five years have been a roller-coaster ride for B.C.’s top performing mining stocks, the average growth in those stocks for 2021 landed at roughly where it was five years ago.

On the other hand, median growth in value at B.C.’s top performing stocks increased by 51.2% in 2021 from 35.2% in 2017 despite experiencing much of the same volatility as the average.

This suggests that while stocks at the top of the list aren’t growing as much as they were five years ago, stocks at the bottom of the list are doing better, thereby lowering the ceiling for B.C.’s top performing mining stocks but raising the floor. 

(This article first appeared in Business in Vancouver)