Nickel prices began the year on a strong note, surging to an 18-month high of US$18,785 per metric ton on January 14.Prices have been suppressed over the past years as nickel prices have been plagued by a structural oversupply situation. High supply has also been met by soft demand as recoveries in construction markets in Europe and Asia haven’t fully recovered from the pandemic and China’s real estate collapse.The situation has led some operators to place facilities on care and maintenance until the price sees a sustained rebound. Additionally, at the start of the year, the Indonesian government introduced significant cuts to its quota system, but it remains unclear if they will provide tailwinds for the nickel price.In Canada, nickel is listed as a top priority in the government’s Critical Minerals Strategy. The country is the world’s fourth largest producer of nickel, with much of its production coming from mines in Ontario’s Sudbury Basin.Against that backdrop, how did Canadian nickel stocks perform in 2025? Below are the top nickel stocks in Canada on the TSX, TSXV and CSE by share price performance so far this year.All year-to-date and share price data was obtained on March 30, 2026, using TradingView’s stock screener. Canadian nickel stocks with market caps above C$10 million at that time were considered.
1. Homeland Nickel (TSXV:SHL)
Year-to-date gain: 344.44 percentMarket cap: C$94.96 millionShare price: C$0.40Homeland Nickel has a portfolio of nickel projects in Oregon, US: Red Flat, Cleopatra, Eight Dollar Mountain and Shamrock. In addition, the company holds investments in mining companies with nickel projects, including Benton Resources (TSXV:BEX,OTCPL:BNTRF), Canada Nickel Company and Noble Mineral Exploration (TSXV:NOB,OTCQB:NLPXF).Shares of Homeland surged in early January after an announcement on January 13 that Canada Nickel’s Crawford project near Timmins, Ontario, has been selected for the province’s “One Project, One Process” review framework, which will allow for an accelerated timetable for permitting and development of the asset.Canada Nickel is Homeland’s top investment, holding 742,095 shares valued at C$1.08 million.The announcement came alongside a surge in the nickel price from a low of US$14,255 per metric ton in mid-December to as high as US$18,785 on January 14.Additionally, in November 2025, the company reported that it had partnered with the newly formed Patriot Nickel and would be optioning up to an 80 percent ownership of Cleopatra and Eight Dollar Mountain to Patriot in exchange for a 20 percent share Patriot as well as Patriot meeting certain milestones.In an update on March 17, Homeland reported that Jeffrey Strobel had been appointed as CEO of Patriot. In the announcement, Homeland also said that it had entered into agreements to acquire two new properties, Woodcock Mountain and Rough and Ready, both in Oregon. Rough and Ready covers 640 acres and has historic assays of up to 2.0 percent nickel, with outlined laterite deposits.Shares in Homeland reached a year-to-date high of C$0.70 on January 21.
2. NiCan (TSXV:NICN)
Year-to-date gain: 150 percentMarket cap: C$12.90 millionShare price: C$0.10NiCan is a nickel exploration company working to advance a pair of projects in Canada.It’s primary focus since the start of the year has been on its Pipy property near Thompson, Manitoba. The project consists of two project areas, Pipy North and Pipy South. On March 5, the company announced it had acquired 13 additional claims adjacent to the Pipy South area, bringing the total land package of both sites to 57 square kilometers. Exploration at the site dates back to the 1970s, and a 14-kilometer horizon has been identified, which remains largely untested. On February 17, the company confirmed high-grade nickel bearing sulphides at the site during its phase 1 reconnaissance drill program. One highlighted assay returned 1.54 percent nickel over 1.45 meters at a depth of 60 meters. The company said the program achieved its primary objective of confirming nickel mineralization at the property and will use the results to plan a follow-up program to test the horizon over a five-kilometer strike. In addition to the nickel results, NiCan followed up on February 18, stating that it had also discovered near surface gold. Highlights from the program demonstrated grades of 1 gram per metric ton (g/t) gold and 12.2 g/t silver over 19.45 meters. Shares in NiCan reached a year-to-date high of C$0.125 on March 11.
3. Tartisan Nickel (CSE:TN)
Year-to-date gain: 39.58Market cap: C$31.36 millionShare price: C$0.23Tartisan Nickel is an exploration company advancing a pair of nickel projects in Ontario, Canada.It’s primary focus is at its Kenbridge asset in the province’s northwest. The property consists of 93 patented mining claims and 142 single-cell mining claims covering a total of 4,108.42 hectares. A 2022 preliminary economic assessment demonstrated a financial case for the project’s development, with an after-tax net present value of US$109.1 million, an internal rate of return of 20 percent, and a payback period of 3.5 years at a nickel price of US$10 per pound. The included mineral resource estimate showed contained measured and indicated nickel values of 74 million pounds, grading 0.97 percent from 3.45 million metric tons of ore, with an additional inferred amount of 32.7 million pounds grading 1.47 percent from 1.01 million metric tons.Tartisan has made several exploration announcements from the project since the start of the year, the most recent coming on March 12 when it released results from its phase 1 drill program. The company said it had completed 3,191 meters of drilling across four holes. A highlight from the fourth hole intersected 0.71 percent nickel over 24.6 meters, including an interval of 1.73 percent nickel over 2 meters. The company said the results provide it with greater confidence in upgrading the project’s resource and potential. Additionally, the company owns the Turtle Pond project also in northwestern Ontario. On March 11, Tartisan announced it had acquired four additional claims at the site, bringing its total land holdings to 3,454 hectares. The property has been explored since the 1960s, but has seen minimal recent work. The company said it is developing a surface exploration program and may include a drill program sometime in 2026 or 2027. Shares in Tartisan reached a year-to-date high of C$0.415 on January 26.
4. Class 1 Nickel and Technologies (CSE:NICO)
Year-to-date gain: 39.13Market cap: C$27.59 millionShare price: C$0.16Class 1 Nickel and Technologies is an exploration and development company working to advance its Alexo-Dundonald nickel sulfide project, located near Timmins, Ontario, Canada.The project is composed of 106 mining claims, 29 patents and 14 leases covering 3,730 hectares. The site hosts four deposits: the Dundonald North and South deposits, and the past-producing Alexo and Alexo south mines.In March 2025, the company released an updated mineral resource estimate for the Dundonald North deposit at Alexo-Dundonald. The deposit hosts an inferred resource of 42 million pounds of nickel, 2.6 million pounds of copper and 1.2 million pounds of cobalt from 2.5 million metric tons of ore with average grades of 0.75 percent nickel, 0.05 percent copper and 0.02 percent cobalt. The company also owns the River Valley project in Ontario and covers an area of 2,916 hectares and hosts mineralization of platinum group metals, copper and nickel.A prospecting program completed in 2025 returned grab samples with highlighted grades of 0.96 percent copper, 0.17 percent nickel, 0.47 grams per metric ton (g/t) palladium, platinum and gold, along with 3.28 g/t silver.Class 1 shares have posted gains in 2026, but the company has yet to issue a news release.Shares in Class 1 reached a year-to-date high of C$0.25 on January 13.
5. Nickel 28 (TSXV:NKL)
Year-to-date gain: 39.02Market cap: C$90.33 millionShare price: C$1.14Nickel 28 is a development and production company that owns an 8.56 percent stake in the Ramu nickel-cobalt operation in Papua New Guinea. The remaining interest in the project is held by the Metallurgical Corporation of China. Nickel 28 acquired its stake in the operation in 2019 when it took over Highlands Pacific. Nickel 28’s stake will increase to 11.3 percent once Highlands repays the construction and development loans it incurred. Once complete, Nickel 28’s attributable production is expected to be 3,800 metric tons of nickel and 800,000 pounds of cobalt per year. On February 23, the company released its operational results for the final quarter and full year of 2025. It indicated that full-year production from Ramu totaled 33,007 metric tons of contained nickel, an increase from the 28,669 metric tons produced in 2024. It also set guidance for 2026 at 33,100 metric tons of nickel.The company also said that while the site will undergo a full renovation of two sulphuric acid plants in 2026, additional tanks have been constructed to avert a shutdown of operations. Shares in Nickel 28 reached a year-to-date high of C$1.19 on February 11.
FAQs for nickel investing
How to invest in nickel?
There are a variety of ways to invest in nickel, but stocks and exchange-traded products are the most common. Nickel-focused companies can be found globally on various exchanges, and through the use of a broker or a service such as an app, investors can purchase companies and products that match their investing outlook.Before buying a nickel stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it’s critical to complete due diligence before making any investment decisions.Nickel stocks like those mentioned above could be a good option for investors interested in the space. Experienced investors can also look at nickel futures.
What is nickel used for?
Nickel has a variety of applications, including stainless steel, coins and lithium-ion batteries. Its main use is an alloy material for products such as stainless steel, and it is also used for plating metals to reduce corrosion. As for coins, its uses include the 5 cent coin, named the nickel, in the US and Canada; the US nickel is made up of 25 percent nickel and 75 percent copper, while Canada’s nickel has nickel plating that makes up 2 percent of its composition. Nickel is also used in certain lithium-ion battery compositions, bringing demand from sectors like electric vehicles and energy storage systems.
Where is nickel mined?
The world’s top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and Russia make up the top three. Rounding out the top five are Canada and China. Indonesia’s production stands far ahead of the rest of the pack, with 2024 output of 2.2 million metric tons compared to the Philippines’ 330,000 metric tons and Canada’s 190,000 metric tons. Significant nickel miners include Norilsk Nickel (MCX:GMKN), Nickel Asia, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Glencore (LSE:GLEN,OTC Pink:GLCNF).
Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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