The little-known shares YOU should buy to get rich with one company seeing its price multiply seven times in just a year – and it’s NOT Afterpay
- Chalice Mining has seen its share price surge by 635.7 per cent in just one year
- It has surged from just $1 a year ago and its CEO Alex Dorsch is youthful 33
- Precious metal miners dominated the top ten list with Afterpay nowhere in sight
Precious metals group Chalice Mining’s share price multiplied seven times this financial year, topping the CommSec league table of the best performing stocks in 2020-21. Its chief executive Alex Dorsch is just 34
A little-known mining company led by a 34-year-old chief executive has been Australia’s best performing company during the year of Covid.
Precious metals group Chalice Mining’s share price multiplied seven times this financial year, topping the CommSec league table of the best performing stocks in 2020-21.
The Perth-based miner has seen its share price surge 635.7 per cent over 12 months, rising from just $1 on June 30 last year to $7.39 as of Wednesday.
Its chief executive Alex Dorsch, who has been in charge since November 2018, is still just 34.
He has previously been an engineer with BHP in Adelaide and did a stint with management consultancy McKinsey and Company.
Across the broader share market, the benchmark S&P/ASX200 rose by 24.7 per cent while the All Ordinaries increased 26.9 per cent, the best annual result in 34 years
Australia’s best performing companies on the share market are lesser known brands with Afterpay failing to make the top ten in the surging price stakes.
Precious metals and rare earth miners dominated with top ten list with pure-play lithium company Pilbara Metals seeing its share price surge by 461 per cent in a year, from just 25 cents to $1.45.
Lynas Rare Earths saw its share price triple or surge by 195.6 per cent from $1.90 to $5.72 as mining services company Mineral Resources Limited surged by 151.4 per cent from $21.17 to $53.77.
Superannuation comparison site Hub24 was another strong performer with its share price tripling or rising by 203.1 per cent from $10.28 to $28.45.
With Australians banned from travelling overseas and being more likely to work from home, the Reece bathroom supplies company saw its share price climb 154.7 per cent from $8.90 to $23.60.
Companies related to buying a car or accessories did well too with the Eagers Automotive car dealership group up 144.4 per cent, from $6.84 to $16.54.
The Arb Corporation, whose bull bars grace four-wheel drives across the land, saw its share price surge by 143.6 per cent, rising from $18.34 to $43.19.
Across the broader share market, the benchmark S&P/ASX200 rose by 24.7 per cent while the All Ordinaries increased 26.9 per cent, the best annual result in 34 years.
Buy now, pay later juggernaut Afterpay has been a big star since the worst of the Covid pandemic, when its share price collapsed to just $8.80 in March 2020 only to skyrocket.
By the end of June last year, its share price had surpassed its pre-Covid $39 price of February 2020 to hit $62.24 by the start of 2020-21.
As of Wednesday afternoon, the company that turned co-founders Nick Molnar and Anthony Eisen into young billionaires had risen by a more modest 89 per cent to $118.17 during the past year.
The ASX200 finished the financial year at 7,313, only marginally below the all-time high of 7,386 hit on June 16, 2021.