Mining Stocks Have Become Popular On Apps Like Robinhood; 5 To Watch With Growing Interest
If you thought mining stocks were limited to certain brokers, think again. One of the most popular platforms to sell and buy stocks has been Robinhood. Popular with millennials, the mobile-app based platform allows traders to flip stocks within any fees. This includes anything from penny stocks to blue-chips and everything in between.
One of the sectors that have received attention this month was the materials sector. Specifically mining and gold stocks have begun to captivate interest after the U.S. government’s latest move to help Hong Kong. With political unrest comes fluctuations in things like foreign exchange rates, and, you guessed it, rising prices for precious metals.
One of the nice parts about stocks on Robinhood is that the platform allows users to see data. Specifically, you can see how many of its users hold a certain stock in their portfolios. With this being said, there are several gold & mining stocks to watch that have tens of thousands of users on Robinhood holding shares.
Top 5 Mining Stocks On Robinhood #5:
B2Gold Corp. (BTG)
Just over 13,000 users on Robinhood hold shares of B2Gold Corp. (BTG Stock Report) in their portfolios. Thanks to rising gold prices, this has been one of the gold stocks to watch in 2019. Since the start of the year, BTG stock has rallied by as much as 37%.
This quarter, the stock saw another surge in price after reporting its Q3 financials. B2Gold saw record quarterly consolidated gold production of 258,200 ounces. This was well-above budget “by 7% (15,807 ounces) and 7% (16,160 ounces) over the same period last year.” Not only that but the company also declared its first quarterly dividend. B2Gold’s Board of Directors declared a dividend of $0.01 per common share. This will be paid on December 13, 2019.
Top 5 Mining Stocks On Robinhood #4:
Turquoise Hill Resources Ltd. (TRQ)
Just because a mining stock is on this list of “popular stocks on Robinhood,” it doesn’t mean it’s performing well. One of the prime examples of this is Turquoise Hill Resources Ltd. (TRQ Stock Report). As you’ll see, shares of TRQ stock had an awful year this year. Since the start of 2019, the mining stock is down dramatically from $1.66 on January 2 to current levels of $0.47.
The slide began as the company reported its quarterly financials back in July. Despite seeing larger gold production and slightly less copper production, it was what the company said about its costs that hit the market. The mining company said that development capital spending for its mine in Mongolia (Oyu Tolgoi) may exceed previously reported figures. After that, TRQ stock hasn’t been able to recover.
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After recent quarterly reports, the market remained unimpressed as Turquoise Hill addresses court proceedings for its Mongolian project. The big question is, what now? NASDAQ has sent notice of non-compliance because it didn’t meet the $1 minimum bid price. So for 2020, could TRQ make it back on its own, be looking to do a reverse split or will it drop to the OTC?
Top 5 Mining Stocks On Robinhood #3:
Northern Dynasty Minerals Ltd. (NAK)
The next on this list of mining stocks, Northern Dynasty Minerals Ltd. (NAK Stock Report) has followed a similar trend as TRQ. NAK stock has seen periods of explosive momentum but overall, it hasn’t been able to maintain higher levels.
Constantly raising money while on top of pressure against its Pebble Partnership hasn’t helped much. But heading into December, it has been one of the most popular mining stocks on Robinhood with more than 17,000 people holding shares. The stock saw a firm rally on the last trading day of November so could this become a bullish mining stock to add to the watchlist for December?
Top 5 Mining Stocks On Robinhood #2:
AK Steel (AKS)
Though it is slightly down from the start of the year, shares of AK Steel (AKS Stock Report) haven’t had a bad last few quarters. Since the end of May, AKS stock has climbed over 50% and saw intermittent highs of over $3.
Late last month the company was recognized by the Auto/Steel Partnership as part of the 2019 Excellence Awards. “It is my honor to congratulate Yu-Wei and members of AK Steel’s Advanced Engineering team for their contribution to this innovative work,” said AK Steel Chief Executive Officer Roger Newport. “We are proud to be part of the Auto/Steel Partnership’s work to drive innovative steel solutions to meet our customers’ needs.”
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However, some headwinds could be working against steel companies into year-end. According to reports, Chinese production accounts for roughly half of the global steel output. This slipped 0.6% year over year to 81.5 Mt in October. That’s significant because it was the first monthly decline of the year on a year-over-year comparison basis.
Top 5 Mining Stocks On Robinhood #1:
Yamana Gold (AUY)
The final company on this list is one of the most popular gold stocks on Robinhood. Yamana Gold Inc. (AUY Stock Report) had a banner 2019. Shares are up by more than 50% since the start of the year. Thanks to bullish gold prices and new production options, Yamana Gold has continued to grow.
This growth was so much so that the company recently stated that it’s considering doubling its quarterly dividend. “We are considering another dividend increase and believe that we can support an increase that is at least 50% higher than our current dividend and potentially 100% higher,” executive chairman Peter Marrone said.
Yamana also recently announced that it identified new mineralization at its El Peñón site. It also found defined new veins at its Minera Florida location. Can this open up even more growth in 2020? In any case, the last few weeks of November saw a resurgence in gold prices which could bode well for all gold stocks on Robinhood; not just Yamana.
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