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Best Metals & Mining Stocks in Nigeria

Analyst Team trader
Updated 3 Oct 2022

The mining industry in Nigeria is an important component of the industrialized value chain because it provides raw materials that are utilized in a wide variety of other industries, such as the construction industry, the transportation industry, the electronics industry, the shipbuilding industry, and others.

Oil, natural gas, and metallic minerals are abundant in Nigeria, just as they are in many other African countries. On the Nigerian Stock Exchange, we take a look at some of the top stocks in the mining and metals industries.

Best Metals & Mining Stocks in Nigeria to buy RIGHT NOW


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Best Metals Mining Stocks in Nigeria

1. Japaul Gold & Ventures PLC (JAPAULGOLD)

Japaul Gold & Ventures Plc, formerly known as Japaul Oil & Maritime Services Plc, is a mining and technical development business listed on the Nigerian Stock Exchange.

Japaul Gold & Ventures PLC

Japaul Gold & Ventures Plc provides services to a number of industries, including mining, oil and gas, nautical, dredging, transportation, engineering, and construction.

Japaul Gold & Ventures Plc was founded in 1994. It changed its name from Japaul Oil & Maritime Services Plc to reflect its new focus on the mining industry and its ventures into technology development, as opposed to the oil and gas business, which had previously provided the company with the majority of its revenue.

Japaul Gold & Ventures Plc currently provides services over a broader spectrum of the value chain, ranging from mining and dredging to offshore and vessel chartering and technology.

Japaul Gold & Ventures Plc's track record of generating profits per share and maintaining a strong profit margin augurs well for future dividend payments and stock price growth.

As trading volumes increase, Japaul Gold & Ventures Plc's live chart analysis predicts the company will continue to outperform its competitors and gain market share.

2. Capital Oil PLC (CAPOIL)

Capital Oil Plc is a petroleum marketing company that engages in Nigeria's downstream oil and gas industry. The business is based in Nigeria and is listed on the Nigerian Stock Exchange (NGX).

Capital Oil Plc imports commercial amounts of gasoline oil for distribution to wholesale and retail clients. The company owns two LPG plants in the Nigerian state of Ogun, with respective capacity of 14 and 10 metric tons.

Capital Oil Plc now offers services in a broader range of industries throughout the Oil & Gas value chain, including:

  • Industrial supplies of petroleum products
  • Sales and distribution of automotive gas oil (AGO)
  • sales and distribution of premium motor spirit (PMS)
  • sales and distribution of dual-purpose kerosene (DPK)
  • Liquefied petroleum gas (LPG) bottling, sales, and distribution
  • Sales and distribution of lubricants; and chemical manufacturing

Buyers and sellers of Capital Oil Plc shares can anticipate rising dividends and profits as the company's earnings per share increases and profits remain consistent over time.

The current stock price of Capital Oil Plc indicates that analysts anticipate the Oil & Gas industry as a whole will continue displaying indications of progress and gaining market share as trading volumes increase, as illustrated by the following forecast.

3. Aluminium Extrusion Industries PLC (ALEX)

Since 1982, Nigeria's Aluminium Extrusion Industries PLC has manufactured and sold aluminium extrusions such as profiles, billets, and roofing sheets.

Aluminium Extrusion Industries PLC

Aluminium Extrusion Industries PLC operates, among many other facilities, an extruded aluminium mill, a powder coating business, and an aluminium roof sheeting plant.

On the Nigerian market, Aluminium Extrusion Industries Plc sells both finished goods and an extensive range of by-products.

Tower Aluminium (Nigeria) PLC is the parent company of Aluminium Extrusion Industries PLC, and ALEX is the Nigerian Stock Exchange ticker symbol for Tower Aluminium's common shares (NGX).

As was the case in the second quarter, Aluminium Extrusion Industries PLC will continue to make profits and provide dividends to ALEX investors.

Using the real-time ALEX chart, analysts were able to anticipate the index's steady ascent as Nigeria's economy returned to pre-pandemic levels and regional demand increased.

4. Multiverse Mining and Exploration PLC (MULTIVERSE)

On the Nigerian Stock Exchange (NGX), Multiverse Mining and Exploration Plc is a publicly traded exploration and mining company allowed to mine zinc, copper, gold, lead, tantalize, tin, and barite.

Multiverse Mining and Exploration Plc, founded as Multiverse Resources Plc on 20 June 2002, began quarrying granite in Ogun State in 2005. Since Multiverse Mining and Exploration Plc went public on the Nigerian Stock Exchange on October 8, 2008, around 4,000 individuals have invested in the company.

Similarly, Multiverse Mining and Exploration Plc is expanding its mining operations through the acquisition of exploration licenses for tin ore, tantalite ore, and copper ore.

Multiverse Mining and Exploration Plc's product and service offerings now cover a broader variety of the Basic Materials value chain.

Multiverse Mining and Exploration Plc stock purchasers and sellers should anticipate rising dividends and profits as the company's earnings per share increases and its profits remain stable over time.

Live chart analysis of Multiverse Mining and Exploration Plc suggests analysts anticipate the Basic Materials industry to continue its recent trend of solid performance, with market share expanding as trading volumes increase.

5. Eterna PLC

Eterna Plc is a gasoline manufacturer listed on the Nigerian Stock Exchange (NGX). Manufacturing and marketing lubricating oils and petrochemicals, importing and selling fuels through its retail outlets, providing gas, power, upstream supplies, and technical services to oil industry firms are all operations in which Eterna Plc is involved.

Eterna Plc

With exclusive rights to import and distribute Castrol goods in Nigeria and the sub-region of ECOWAS, Eterna Plc has a technical trade partnership with Castrol BP, a global leader in lubricant technology and specialty chemicals.

Eterna Plc operates a lube blending plant with a state-of-the-art laboratory that produces Castrol products, in addition to a coastal tank farm in Lagos, an aviation depot at Nnamdi Azikwe International Airport in Abuja, a coastal storage facility in Ikot Abasi and Akwa Ibon state, and filling stations in the major cities of Nigeria.

Today, Eterna Plc offers a wide range of products and services, including the production and distribution of various lubricants and petroleum products, as well as the importation of fuels for the retail, industrial, agricultural, automotive, maritime, and energy sectors in Nigeria.

As the company's earnings per share and long-term profits increase, Eterna Plc stock buyers and sellers may anticipate higher dividends and profits.

The current stock price of Eterna Plc indicates that analysts anticipate the Oil & Gas industry to continue its present upward trajectory, with market share and trade volumes increasing.

6. Seplat Energy PLC (SEPLAT)

Seplat Energy Plc is Nigeria's largest privately held oil and gas business, with activities located in the Niger Delta. Multiple advantages support the case for investing in the organization.

Substituting Seplat for diesel and biomass in a nation with a current population of 200 million and a projected population of 450 million by 2040 is a substantial growth opportunity.

Seplat is a major energy provider that accounts for up to 30 percent of the gas used to generate power and has significant expansion potential.

Seplat is a low-cost operator that is skilled at extracting value from mature, de-risked assets in order to create huge cash flows that can be given to investors in the future and pay significant dividends (10c per year).

7. Conoil PLC (CONOIL)

Conoil PLC is a Nigerian company that distributes refined petroleum products and manufactures and sells lubricants, culinary gas, and industrial gas.

refined petroleum products

The company dates back to 1970, and it currently operates in three core business segments: white goods, lubricants, and LPG (LPG).

The dramatic increase in Conoil Plc's financial performance between the first and second quarters bodes well for those who purchase or sell CONOIL shares and anticipate high dividends and profits.

The steady resumption of normal commercial activities in the region explains Conoil Plc's performance following the terrible impacts of the Covid-19 outbreak. Among other factors, price rises for Premium Motor Spirits (PMS) have contributed to the improvements.

8. MRS Oil Nigeria Plc (MRS)

MRS Oil Nigeria Plc is a publicly traded firm on the NGX that distributes refined petroleum products and lubricants throughout Nigeria. These items are utilized in numerous industries, including transportation.

MRS Oil Nigeria Plc

MRS Oil Nigeria Plc's goods and services now cover a broader range of the Oil and Gas value chain, from the marketing and distribution of refined petroleum products to the blending and manufacturing of lubricants and greases. There are retail/commercial/industrial, aviation, and lubricants divisions within the company.

MRS OIL Nigeria Plc operates a blending facility in Apapa from which it manufactures and sells various gasoline products, including petroleum motor spirit, automotive gas oil, dual purpose kerosene, aviation kerosene, and low-pour fuel oil.

Buyers and buyers of MRS Oil Nigeria Plc stock can anticipate increased dividends and profits as a result of the company's rising earnings per share and consistent profitability over time.

The current chart of MRS Oil Nigeria Plc reveals that analysts anticipate the Oil and Gas industry's rising performance trend to continue, with market share and trading volumes increasing.

The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.