Top Mining Stocks To Watch
Mining stocks have been increasing in price causing more investors to be interested. The highest performers of course are companies that focus on mining and refining silver and gold. Those two mining stocks are not the only ones that are performing well though.
These companies will primarily acquire large hectares of land, and search for, mine, refine, and sell gold, silver, and other resources. The price of these resources is affected by supply, demand, and usage. Due to the state of the economy, many of these resources are reaching new record highs in the market.
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Silver has been going up recently with the increase of industrial companies continuing operations. The pandemic previously slowed all of this, but most industrial companies using silver are almost fully operational. The price of silver is down at the moment, but it is still much higher than it was at the start of the year. This is the same story with the price of gold. Now it is time to have a look at some top mining stocks that are performing well as October 2020 comes to a close.
Top Mining Stocks To Watch: Freeman Gold Corp.
The first mining stock to discuss on this list is Freeman Gold Corp. (OTC: FMANF Stock Report) (CSE: FMAN). Freeman is a gold company that has a primary focus on mineral exploration in multiple locations internationally. It actively acquires, explores, and develops different mineral properties that it holds a majority interest in. This includes the Lemhi Mine, holding more than 5000 meters of a diamond drill program that is in progress. Freeman will also search for copper and silver at its deposits. So now let’s look at the recent news and advancements that Freeman Gold Corp has made.
Recently, Freeman Gold acquired a back-in right from a fellow gold company, Yamana Gold Inc. This deal is for the Lemhi Project mineral property that it holds. It also acquired the Moon #100 and Moon #101 mining claims located in the historical region of the Lemhi Project. This has added to the big involvement it already had at this location.
Thursday, CEO Will Randall gave an exploration update on the Lemhi Gold Project. “Our Phase 1 drill campaign is successfully underway and is confirming our understanding of the mineralization and geology of the Lemhi Gold Project. The mineralization is generally flat lying within Proterozoic metasediments. Quartz veining, silicification, brecciation and faulting dominate the mineralized zones and are oxidized from surface. Results have so far matched historical logs closely. Multiple flat-lying, high-grade zones, often containing visible gold, are stacked and may constitute a bulk tonnage target.”
Top Mining Stocks To Watch: Teck Resources Limited
Next up on this list of the top mining stocks to watch is Teck Resources Limited (TECK Stock Report) due to its recent momentum in the market. Teck Resources Limited is a mining company with a focus on research, exploration, development, and production of natural resources. It operates in the Asia Pacific, the Americas, and Europe. Its different segments include Steelmaking Coal, Copper, Zinc, and Energy.
It is in these segments which it produces coal, copper, zinc, bitumen, gold, silver, and plenty more resources. The company owns an interest in Frontier oil sands projects, and exploration and development projects. These many projects are located in Alberta, Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. Let’s see what has been going on with this mining stock in recent times.
On October 26th, Teck Resources Limited released its unaudited third quarter results for 2020. In these results it reported profit attributable to shareholders of $130 million or $0.24 a share. Due to the pandemic, it has reduced operating costs by $270 million and capital cost reductions of $550 million happened as well.
The president and CEO of the company, Don Lindsay said, “Our financial performance recovered strongly from a second-quarter that was significantly negatively impacted by COVID-19, and despite the decline in realized steelmaking coal prices, we posted gains in profitability and operating cash flows.”
This shows that the company is making great strides to improve its financials and revenue numbers as the year continues. In the last 6 months, TECK stock price is up 37.82% as of October 28th.
Top Mining Stocks To Watch: Southern Copper Corporation
Southern Copper Corporation (SCCO Stock Report) has a primary focus on exploration, mining, smelting, and refining copper and other minerals. It operated mines in Peru, Mexico, Ecuador, Argentina, and Chile. Its main activity is mining, and milling copper ore. The company has more than 290,000 hectares of land across all of its properties. Let’s look at Southern Copper Corporation’s recent news and advancements.
Southern Copper Corporation released its third-quarter results on October 27th. The company’s copper output dropped 1.4% due to the pandemic and closures as a result. Its silver production fell by 1.3% as well. It claims it does not expect any significant delays despite all of the problems caused by the pandemic in the mining industry.
Its mining claims are still expected to produce a lot of minerals in the future. SCCO stock price is up more than 24.39% in 2020 so far as of October 28th. In the last month as of the same date, SCCO stock is up 15.9% or so.
Top Mining Stocks To Watch: Maple Gold Mines Ltd.
The final company on this list of the top mining stocks to watch is Maple Gold Mines Ltd. (MGMLF Stock Report). Maple Gold Mines is a mining company that primarily focuses on gold exploration. It holds an interest in the Douay gold project that has 666 mineral claims over 355 square kilometers. This project is located in Canada. So now let’s check out the recent news that has come from Maple Gold Mines Ltd. and why it is trending.
Back in July, the company closed a $4,000,000 first tranche of non brokered financing. Then in September, it provided an exploration update. It announced here that its assay results in all of its zones will be used to design upcoming drill campaigns. This is to uncover “higher grade targets and to expand and upgrade the known resources at Douay” according to Matthew Hornor, the President and CEO of Maple Gold Mines Ltd.
From January to March 2020, it completed a 4370 meter drill campaign in which 11/14 holes drilled intersected higher than deposit average grade gold mineralization. Now it has begun its Fall Discovery exploration program, and begun initial drilling to test its northeast IP target.
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