- The OTC Markets Group has unveiled the 2024 OTCQX Best 50, which ranks the top-performing OTCQX stocks in the prior calendar year
- The winners yielded a 77 per cent median total return in 2023 and sported a median market cap just over US$186 million
- Read about notable stocks and access the full list below
- The OTC Markets Group operates regulated markets for trading over 12,000 U.S. and international securities
The OTC Markets Group has unveiled the 2024 OTCQX Best 50, which ranks the top-performing OTCQX stocks in the prior calendar year.
OTCQX Best 50 ranking criteria
The companies are chosen based on equal-weighted one-year total return and average daily dollar volume growth, supposing they meet the following criteria:
- Traded on the OTCQX on Dec. 31, 2022
- A closing share price of US$0.25 or greater on Dec. 31, 2023
- A closing share price on Dec. 31, 2023, greater than that on Dec. 31, 2022
- Traded equal to or greater than US$500,000 in dollar volume in 2023
- Not a penny stock on Dec. 31, 2023, as defined under SEC Rule 3a51-1 of the Securities Exchange Act of 1934
- Member of the OTCQX Composite Index as of Dec. 31, 2023
- OTC Markets Group may also omit companies that do not embody OTCQX market standards of transparency, news distribution and financial disclosure
Notable names and highlights
This year’s OTCQX Best 50 are small but mighty, with a median market cap just over US$186 million, and only 10 companies with a market cap greater than US$1 billion, while managing to reward shareholders with a hefty median total return of 77 per cent on only US$11.4 billion in total trading volume.
In terms of geography, U.S. and Canadian companies make up 25 and 16 of the entrants, respectively, which also include companies traded on the Australian Stock Exchange, Euronext Amsterdam, Euronext Paris, London Stock Exchange, and the Singapore Exchange.
The ranking’s top performer, the Canadian-listed Bravo Mining (TSXV:BRVO), just released a substantial maiden mineral resource for its polymetallic Luanga project in Brazil.
Other notable winners include:
- 36: Xtract One Technologies (TSX:XTRA), a patron-screening technology provider that grew total contract value of new bookings by 231 per cent and platform contractual backlog by 393 per cent, as per its Q1 FY2024 results, and stands as one of only three companies to return from the 2023 list
- 2: Collective Mining (TSX:CNL) a Colombian copper, gold and silver miner that on Thursday announced a major discovery at its flagship project, which is already anchored by a high-grade gold-silver-copper-tungsten porphyry system on the separate Apollo target
- 9: G Mining Ventures (TSX:GMIN), whose flagship 2-million-ounce Tocantinzinho gold project in Brazil is expected to begin commercial production later this year
- An astounding number of cryptocurrency funds from Grayscale (3, 6, 8, 10, 13, 18, 20 and 26), as well as Osprey (16) and Bitwise (17), on the back of momentum from the SEC’s recent approval of spot Bitcoin ETFs, and generally rosier sentiment across the crypto space in 2023
- 30: Patriot Battery Metals (TSXV:PMET), a lithium miner sitting on one of the most important discoveries of the critical metal in Canadian history
- Click here to view the full list
Executive commentary
“We congratulate this year’s OTCQX Best 50 companies on their ability to achieve a high level of performance during another challenging year for market conditions,” Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group, said in a statement. “This year’s roster represents a diverse set of industries and geographies that clearly demonstrate the value global cross-border trading can provide for companies.”
The OTC Markets Group operates regulated markets for trading over 12,000 U.S. and international securities. These include the OTCQX Best Market, OTCQB Venture Market and Pink Open Market.
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