After over six months and 55 recommendations, it’s time to take a look at our top-performing stock picks on Weekly Market Movers year to date and consider if there’s reason for conviction in their positive momentum moving forward.
1. G Mining Ventures: 121.30% return year to date
Our first top-performing stock, G Mining Ventures (TSX:GMIN), is ushering its Tocantinzinho gold project in Brazil to commercial production, which is expected by the end of the year. The project boasts 2 million ounces of proven and probable reserves and is engineered to process 175,000 ounces of gold per year.
Tocantinzinho’s imminent production comes only two years after the initial construction decision, and coincides with a more than 27 per cent increase in the price of gold to an all-time-high, prompting investors to bid G Mining shares up by 218 per cent over the period, and by 121.30 per cent year to date.
Based on net present value estimates from the project’s 2022 feasibility study and gold’s current price of about US$2,350 per ounce, the project would be worth about US$1.5 billion, making it significantly undervalued based on G Mining’s market capitalization of only C$1.07 billion.
2. Biorem: 113.13% return year to date
Biorem (TSXV:BRM), established in 1990, is a clean-technology company that designs, manufactures and distributes a comprehensive suite of air emissions control systems to eliminate odors, volatile organic compounds and hazardous air pollutants, boasting more than 2,000 installed systems across the world.
Though Biorem’s revenue can fluctuate somewhat because of the long-term nature of its government and industrial projects, the company has managed to turn a profit in each of the past four years, including C$2.09 million in 2020, C$1.3 million in 2021, C$1.61 million in 2022 and C$2.18 million in 2023, generating a more than 425 per cent return over the period.
This efficient operational performance was followed by strong results in Q1 2024 marked by new bookings, C$340,000 in net income, and growing sales funnels that, in conjunction with a C$52 million order backlog, has management confident in continued growth through this year and beyond.
3. Bitcoin Well: 90% return year to date
Bitcoin Well (TSXV:BTCW) operates an online financial portal and a physical ATM network to make Bitcoin easier to use for everyday people.
Portal revenue reached C$9.7 million in Q1 2024 and C$4.5 million in April, which is up by more than 136 per cent since January. Unique user signups have also grown exponentially from 5,000 in Q1 2023 to 17,850 as of May 21, 2024.
Bitcoin ATM revenue accounted for C$6.5 million in the quarter, granting the company reliable cash flow, contingent on the cryptocurrency’s sky-high returns, to fund its vision of becoming a Bitcoin super company.
Bitcoin, the most popular cryptocurrency, has added over 120 per cent year-over-year, last trading at about C$87,300 per coin, propelled by U.S. regulatory approval of exchange-traded funds (ETFs) holding the asset earlier this year.
While cryptocurrencies are relatively new as an asset class, dating back only to 2008’s Great Financial Crisis, they represent more than US$3 trillion in market capitalization, rivaling NVIDIA, now the biggest public company in the world, suggesting they are likely here to stay, though what their ultimate use-cases will be are still very much up in the air.
4. Midnight Sun Mining: 57.69% return year to date
Midnight Sun Mining (TSXV:MMA) is exploring its flagship Solwezi project in Zambia, whose land package is surrounded by world-class copper mines, including First Quantum’s Kansanshi, Africa’s largest copper mining complex.
Solwezi’s Dumbwa target features a more than 20 kilometre copper-in-soil anomaly grading up to 0.73 per cent copper, and is complemented by secondary targets Mitu (11.6 m at 3.44 per cent copper), Kazhiba (11.3 m at 5.71 per cent copper) and Crunch (untested multi-km electromagnetic anomaly in the same stratigraphy as Kansanshi).
Guided by major partners secured in 2024, including First Quantum and KoBold Metals, the latter an AI-based battery metal explorer backed by Bill Gates, Andreessen Horowitz, T. Rowe Price and the Canadian Pension Plan Investment Board, Midnight Sun finds itself in a prime position to delineate an economical resource and either reach production or sell its assets to the highest bidder.
5. Silvercorp Metals: 39.30% return year to date
Our final top-performing stock is Silvercorp Metals (TSX:SVM), a Canadian mining company producing silver, gold, lead and zinc in China with ample growth potential and a long history of profitability.
The company is producing about 8 million ounces of silver equivalent per year across silver and gold, in addition to 45,000 tonnes of lead and zinc, and estimates that it still has 15 years of mine life remaining, despite having produced at least 100 million ounces of silver and more than 1.3 billion pounds of lead and zinc over its almost two decades in operation.
Adjusted net income has kept up with Silvercorp’s prodigious output, falling during only one quarter since 2017, providing the company with reliable cash to fund its extensive exploration efforts, which have swelled to 2,425 km of drilling and 798 km of tunnelling since 2004, helping to keep metal resources and reserves stable since about 2009 (slide 21).
Silvercorp shareholders are up by about 541 per cent since the decade low in 2016, well ahead of silver’s approximate doubling in price to US$30 per ounce, with a decade and a half left for the company to continue generating operational leverage on its target commodity.
Join the discussion: Find out what everybody’s saying about these top-performing stocks on the G Mining Ventures Corp., Biorem Inc., Bitcoin Well Inc., Midnight Sun Mining Corp. and Silvercorp Metals Inc. Bullboards, and check out Stockhouse’s stock forums and message boards.
This is sponsored content issued on behalf of G Mining Ventures Corp., Biorem Inc., Bitcoin Well Inc., Midnight Sun Mining Corp. and Silvercorp Metals Inc., please see full disclaimer here.
(Top photo from Silvercorp Metals’ Ying mining operation in China: Silvercorp Metals)