There were plenty of strong performers in the All Ordinaries (ASX: XAO) during 2020.
Despite the huge disruption caused by COVID-19 and the associated impacts, these businesses more than tripled the share price:
The gold price had already performed strongly during 2019 and it went up more than 10% in 2020 in Australian dollar terms.
The best performer in the All Ords was De Grey Mining Ltd (ASX: DEG), its share price went up around 1,900%. De Grey is a Western Australia-based mining company engaged in gold exploration and development activities. The company’s primary focus is the 100% owned Mallina Gold Project (MGP) in the Pilbara region of WA.
Chalice Mining Ltd’s (ASX: CHN) share price was another strong performer, rising more than 1,500%. In March 2020 it made a discovery at the Julimar Project in Western Australia.
The Cardinal Resources Ltd (ASX: CDV) share price went up 238% over 2020. Cardinal Resources is a West African gold‐focused exploration and development company that holds interests in tenements within Ghana, West Africa. The Namdini Project has a proved and probable ore reserve of 5.1 million ounces and is now advancing the feasibility study.
Both of these businesses benefited from the large shift to online shopping during 2020.
Afterpay Ltd (ASX: APT)
The Afterpay share price went up 285% in 2020. Afterpay was one of the most volatile businesses in 2020 after falling to just $8.90 during the COVID-19 crash. It has rebounded significantly since then.
Investors quickly regained their bullishness about Afterpay in the following months.
In the FY20 result Afterpay reported 112% underlying sales growth to $11.1 billion, 116% growth of active customers to 9.9 million and 72% growth of active merchants to 55,400. Group total income grew by 97% to $519.2 million.
Investors may have looked at profitability metrics. Afterpay’s net transaction margin went up 110% to $250.2 million, with the net transaction margin as a percentage of underlying sales remaining stable at 2.3%.
Afterpay’s FY20 underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew by another 73% to $44.4 million.
In the first quarter of FY21, underlying sales grew by 115% to $4.1 billion. This was 9% higher than the fourth quarter of FY20. Its margins remained strong during the first three months of FY21.
Excitement about Tesla and electric cars in general continues to help demand grow. This tide is lifting many boats in the lithium mining sector.
The Liontown Resources Ltd (ASX: LTR) share price grew by 278% in 2020. Liontown is a battery metals exploration and development company with a discovery at its flagship Kathleen Valley Lithium-Tantalum Project in Western Australia.
Avz Minerals Ltd’s (ASX: AVZ) share price rose 240% last year. AVZ is a mineral exploration company focused on developing the Manono Lithium and Tin Project located in the south of the Democratic Republic of Congo (DRC) in central Africa. AVZ has a 60 per cent interest in the Manono Project.
The Pilbara Minerals Ltd (ASX: PLS) share price went up around 210% in 2020. Pilbara wholly owns the Pilgangoora Lithium-Tantalum Project in Pilbara, WA.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.