Vanadium’s potential within the lengthy‑period power storage sector has sparked renewed curiosity in vanadium investing. Specialists anticipate that the essential metallic will see an uptick in demand due to vanadium redox movement batteries (VRFBs).
The silvery-gray metallic’s rise to prominence has piqued the curiosity of analysts and buyers who see the worth in a battery metallic that’s safer, longer-lasting and extra sturdy than lithium.
Vanadium was as soon as thought of a mere by-product of uranium that was primarily used as an alloy in metal manufacturing. Whereas rebar remains to be the metallic’s main demand driver, the narrative round vanadium has expanded as a consequence of its battery potential.
For buyers, we discover the vanadium property and information driving the very best performing vanadium shares of 2026 under. For a deeper dive into the total vanadium sector, try our information to investing within the vanadium market.
Right here the Investing Information Community has compiled a listing of the highest vanadium shares to this point this yr on the TSX and TSXV. CSE-listed firms had been thought of, however none made the reduce. All year-to-date and share worth data was obtained on July 15, 2026, utilizing TradingView’s inventory screener.
Yr-to-date acquire: 46.94 %
Market cap: C$45.36 million
Share worth: C$0.36
Phenom Sources is a gold and vanadium exploration firm with a portfolio of initiatives in Nevada, US.
Its flagship challenge is the Carlin gold-vanadium challenge, which the corporate states hosts the “largest, highest-grade, main vanadium useful resource in North America.”
The property consists of 150 unpatented mining claims and 80 acres of fee-simple land, totaling 2,608 acres, in Elko County. Exploration of the positioning has recognized a number of zones of vanadium mineralization, with a strike size of 1,800 meters and a width of 600 meters.
A Might 2020 preliminary financial evaluation of creating the challenge as a vanadium mine estimated a post-tax internet current worth of US$29 million, an inner charge of return of seven % and a payback interval of seven.7 years utilizing a worth of US$10.65 per pound of vanadium oxide (V2O5).
The included mineral useful resource estimate (MRE) reported an indicated useful resource of 303 million kilos of V2O5 contained inside 24.64 million metric tons of ore with a median grade of 0.62 % V2O5. The challenge additionally hosts an extra inferred useful resource of 75 million kilos V2O5 from 7.19 million metric tons grading 0.52 %.
Though Phenom has largely been targeted on its Dobbin, King Solomon and Crescent Valley gold initiatives by a lot of 2026, additionally it is advancing its vanadium enterprise focusing on the stationary battery market.
On January 20, the corporate introduced it had utilized for a grant from the US Division of Power for funding for an R&D challenge, described as “built-in pilot-scale validation of high-grade vanadium and nickel feedstock.” The feedstock materials averages greater than 6 % vanadium and 1.4 % nickel.
The pilot challenge’s objective is advancing the metallurgical flowsheet and discovering monetary companions. Phenom estimates the challenge value at US$19.8 million; if its submission is profitable, the DOE’s grant would cowl 80 % of that value.
Its most up-to-date information on the vanadium-nickel challenge got here on July 23, when Phenom reported that it had filed an software with the US Patent Workplace to guard its metallurgical flowsheet. The flowsheet was developed by check work carried out at SGS Canada, the place its course of achieved 80 % vanadium restoration and 75 % for nickel.
The corporate is now in search of a accomplice for funding and operation of what it envisions as a processing plant that might produce excessive purity vanadium and nickel merchandise for the battery markets.
In different vanadium information, on April 20, Phenom introduced that MK Plus, during which Phenom owns a 5 % stake, had made progress towards commercializing its vanadium solid-state battery. The corporate stated MK Plus was making ready for a breakout this summer season, after confirming secure operation of a 500-watt-hour battery in January 2025, and had secured a battery manufacturing plant in Sweden and industrial orders for its batteries.
Shares in Phenom reached a year-to-date excessive of C$0.52 on June 2.
2. Blue Sky Uranium (TSXV:BSK)
Yr-to-date acquire: 11.11 %
Market cap: C$21.71 million
Share worth: C$0.05
Blue Sky Uranium is an exploration firm advancing the Ivana deposit at its Amarillo Grande challenge in Argentina.
The asset is situated within the Rio Negro province within the Patagonia area and hosts a number of targets alongside a 145 kilometer pattern, together with the Ivana uranium-vanadium deposit.
Ivana is being operated by the three way partnership firm Ivana Minerales by an earn-in settlement with a subsidiary of Corporación América Group (COAM), an Argentinian holding firm. Finalized in February 2025, the earn-in settlement permits COAM to amass as much as an 80 % stake within the Ivana deposit by finishing US$160 million in expenditures and a feasibility research.
In 2024, Blue Sky produced a preliminary financial evaluation for Ivana as a surficial mining operation with an 11 yr mine life. It demonstrated a post-tax internet current worth of US$227.7 million, with an inner charge of return of 38.9 % and a payback interval of 1.9 years, utilizing a base case worth of US$75 per pound for uranium oxide (U3O8) and US$7.50 per pound for V2O5.
An up to date MRE included within the report confirmed 80 % of the useful resource was now within the indicated classification, a class that now contained 17 million kilos of U3O8 and eight.1 million kilos of V2O5 from 19.7 million metric tons of ore grading 0.04 % U3O8 and 0.02 % V2O5.
Blue Sky has largely been targeted on the Ivana property in 2026. On January 12, the corporate reported outcomes from infill drilling, with one spotlight returning a median grade of 4,368 elements per million U3O8 over 4 meters from near-surface depths. It additionally famous that the infill exploration of the property was a key step in a spot evaluation that it required to maneuver the challenge towards pre-feasibility and feasibility research.
Then, on March 19, Blue Sky reported the beginning of a hydrogeological program to guage water sources within the neighborhood of the Ivana property and their potential to help future mining and processing wants. The corporate estimated that the research would require roughly 5 months to finish.
The newest information from the property got here on Might 11, when Blue Sky introduced Ivana Minerales had executed service agreements to help engineering and metallurgical check applications on the Ivana challenge. The check outcomes can be used to finish the feasibility research required earlier than growth.
Shares in Blue Sky reached a year-to-date excessive of C$0.075 on January 28.
3. Western Uranium and Vanadium (CSE:WUC)
Yr-to-date acquire: 3.09 %
Market cap: C$37.36 million
Share worth: C$0.50
Western Uranium and Vanadium is a mining and growth firm with operations in Colorado and Utah, US.
Its main web site is the Sunday mine advanced in Western Colorado, which hosts 5 mines. it. Mining on the web site started within the Fifties, with intermittent manufacturing over time primarily based on market demand. The corporate acquired it in 2014.
In 2024, Western ramped up operations on the mine to focus on manufacturing of 1 million kilos of uranium and 6 million kilos of vanadium per yr, however started decreasing output in 2025 as uranium costs fell.
Within the firm’s Q1 2026 administration dialogue and evaluation, it acknowledged that operations had been scaled again throughout the quarter, with gear secured and ready for storage because it awaits a rise in uranium costs. When that occurs, the corporate stated it would give attention to creating extra areas throughout the mine with outlined mineralization to increase capability.
On July 7, Western accomplished its ore buy settlement to produce uranium ore for processing at Power Fuels’ (TSX:EFR,NYSEAMERICAN:UUUU) White Mesa mill in Utah. Notably, post-processing pure uranium grades from the provided ore had been 40 % increased than preliminary estimates on the time of supply, which considerably elevated the fee Western obtained.
Moreover, the corporate stated that if the upper assays are consultant of all or a part of the unmined areas at Sunday, the mineral useful resource for the property might exceed the unique 2015 estimates.
“The fabric improve between our probe-indicated grades and the ultimate chemical assay outcomes is a powerful testomony to the standard of Western’s mineral sources on the Sunday Mine Advanced,” Western CEO George E. Glasier stated.
Along with Sunday, the corporate has been working to acquire permits for the San Rafael mine in Utah and the Mustang mineral processing plant in Montrose County, Colorado.
Whereas Western hasn’t reported updates for San Rafael to this point in 2026, on July 14, it supplied an replace on Mustang concerning work in direction of a radioactive supplies license submission for the mill.
The corporate famous it had accomplished environmental and cultural surveys and the baseline air information assortment, with water information assortment in progress. It stated the total license software was on observe to be submitted by the tip of 2026.
Shares in Western Uranium and Vanadium reached a year-to-date excessive of C$1.08 on January 29.
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Securities Disclosure: I, Dean Belder, maintain no direct funding curiosity in any firm talked about on this article.
