Raw materials used for energy storage are ideal targets for alternative investors. First Cobalt Corp. (OTC: FTSSF) is a major cobalt producer based in Canada. OTC stock is available for purchase by U.S. investors. With a growing electric vehicle and storage cell market, this company is well positioned to expand in the future.
Cobalt is used as an electrode in rechargeable lithium batteries. Without cobalt, lithium batteries would not be able to retain or discharge electricity. With batteries being fundamental to electric vehicles and all forms of clean energy production and storage, we can expect a company like First Cobalt Corp. to take off in the coming years.
The company is in the process of restarting its cobalt refinement facility, and permits are already in place. This facility will be the only cobalt refinement operation in North America when it is brought back online. For now, the company runs at a loss as it works to exploit its permits and facilities. Investors should not expect a meaningful return in the short term. The company holds $202.69 million (CAD) in current and non-current assets.
For today, cobalt demand has decreased slightly, due to an oversupply. However, this stock is still viable, because the expected demand for batteries, and therefore cobalt, is expected to grow significantly in the next decade. This stock is currently one of the best bargains in the energy/mineral sectors and could be the ideal portfolio addition for patient investors.
- 1 Year Price Growth: -68.86%
- YTD Price Growth: 83%
- 5 Day Price Growth: 58%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.