These 3 resources shares have doubled in value in 12 months

One of the best performing areas of the market over the last 12 months has been the resources sector.

During this time the S&P/ASX 200 Resources (Index: ^AXJR) (ASX: XJR) has managed to push over 20% higher. As a comparison, the S&P/ASX 200 as a whole is up less than 4.5% and that includes the gains from resources shares as well.

Three shares that have climbed more than most in the sector over the last 12 months are listed below. Here’s why they have more than doubled in value during the period:

The Altura Mining Ltd (ASX: AJM) share price has surged 135% higher since this time last year. Investors have been fighting to get hold of the prospective lithium miner thanks to the world-class potential of the Altura lithium project at Pilgangoora, Western Australia. Management believes the project has the potential to make Altura Australia’s next major hard rock lithium product supplier. According to a recent announcement, the company’s crushing circuit is scheduled to commence commissioning in March, with the wet plant to follow in April/May. All in all, this puts the company on-track to meet its target of first lithium concentrate sales in the second-quarter of 2018. I think Altura could be worth a closer look when its sales figures and margins are known.

The Lynas Corporation Ltd (ASX: LYC) share price has risen a massive 168% over the last 12 months thanks largely to a recovery in rare earth demand. This led Lynas to recently post a 75% increase in half-year revenue to $200.9 million and record first-half EBIT of $63 million. Favourable prices and a 17% increase in total rare earth oxide production to 8,839 tonnes were the key drivers for this strong half. I think Lynas is well-positioned to carry on this good form in the second-half.

The Orocobre Limited (ASX: ORE) share price is up 115% in 12 months on the back of increasing demand for lithium to be used in the batteries of electric vehicles. Whilst future prices are a matter of debate due to forecasts for a significant jump in lithium production globally, at the moment Orocobre is commanding extremely high prices for the metal. In the first-half of FY 2018 the company reported that the average price received was US$11,415 per tonne, up from US$9,186 per tonne in the prior corresponding period. Incredibly, management expects prices to rise 25% in the second-half. With prices as high as this, I can understand why investors have been scrambling to get hold of shares.

I think the resources sector is a great place to be at the moment thanks to the postiive outlook for the global economy, but if you're not a fan then these stellar growth shares could be better options for you.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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