4 Top Mining Stocks To Watch
On November 27th, we just saw the further decline of the price of gold and silver. As you know throughout 2020 gold and silver prices have been increasing dramatically. Gold even reached around $2,000 this year. Now, the price of these precious metals has pulled back. Gold is around $1790 and silver is around $22.65. So on the day of the 27th, gold has fallen 1.16% and silver has fallen 2.35%. The positives for these precious metals has been the pandemic and lacking economies around the world. But as more vaccine news has come out, it has brought the price of these resources down.
On the 25th there was some positives when jobless claims went up, but now that does not matter. These current prices put silver at a two month low, and gold futures at a five month low. So what is next for metal traders and mining stocks? President Trump’s claim that he will honor the U.S. Electoral College certification of the presidential election could impact things. The inauguration or conceding of President Trump could cause the dollar to go lower, brining metal prices up. Clearly there is a lot of factors that are contributing to mining stocks on at the moment. So let’s look at four of these mining stocks that have potential in the market.
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Top Mining Stocks To Watch: Coeur Mining Inc.
The first mining stock to watch is Coeur Mining Inc. (CDE Stock Report). Coeur Mining is a mining company that will explore for, develop, and produce mineral resources. These include gold, silver, zinc, and lead properties. It actively has 100% interest in the Palmarejo mine, Rochester mine, Kensington mine, Wharf gold mine, and many more. It will market its concentrates to third party refiners and smelters in vaiour locations. These locations include the United States, Switzerland, and Japan. The company’s property is located in Mexico, Nevada, Alaska, South Dakota, and Canada. Let’s look at what Coeur Mining has been up to in recent history.
The most recent update from the company comes in the form of third quarter results released on October 28th. The company recorded its highest quarterly financial results in about a decade. The first of the big news is its revenue going up by 49% to $229.7 million year over year. In addition to this, its EBITDA of $90.8 million more than doubled from the previous quarter. Its production grew, it started and restarted multiple projects, and more.
This has resulted in CDE stock performing very well throughout 2020. At its low point this year, it was around $3.20 a share on average. Now, CDE stock price has reached $7.14 a share on average as of November 27th. In other news the company recently participated in the RBC Capital Markets Global Mining and Materials Conference. Now the public awaits the next big update from Coeur Mining Inc.
Top Mining Stocks To Watch: Great Panther Mining Limited
The next mining stock to watch is Great Panther Mining Limited (GPL Stock Report). Great Panther is a mining and exploration company based out of Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. These mines include the Tucano gold mine in Brazil, two silver mines in Mexico, among others. 11 days ago the company announced that it had to suspend operations at its Topia mine in Mexico because of COVID-19. It currently doesn’t expect that to last more than 30 days. Let’s look at Great Panther’s other recent updates.
On November 23rd this mining stock to watch announced its mineral resource estimates at Guanajuato Mine Complex (GMC). Great Panther’s measured and indicated resources increased by 17%, and its inferred resources more than doubled. The CEO Rob Henderson stated, “We are pleased to have completed another productive drilling campaign at GMC, successfully outlining new resources and demonstrating the quality of the orebody.” After this announcement, GPL stock price has gone up about 6.49%. That is what makes GPL stock a mining stock to watch. Now we await further updates to come from the company to see what is next.
Top Mining Stocks To Watch: McEwen Mining Inc.
Now let’s talk about McEwen Mining Inc. (MUX Stock Report). McEwen Mining is a company that will explore for, develop, produce, and sell various resources. These resources include silver, gold, and copper among others. It owns 100% interest in the El Gallo project, Fenix project, Black Fox mine, and plenty more. It operates properties in Mexico, Canada, Argentina, and the United States. Now let’s look at the recent news from McEwen Mining.
In the company’s third quarter results released about a month ago, it did not look that great. Its revenue missed estimates after reporting a loss. But its production did rebound after successfully starting all of its operations again during Q3. It also reported positive progression in its operations as well. The Chairman and Chief Owner Rob McEwen said, “Our operations are starting to turn around and improve; the financial pressure on our balance sheet has been alleviated; and our future growth is becoming much brighter.”
Top Mining Stocks To Watch: Osisko Gold Royalties Ltd.
The final company on this list is Osisko Gold Royalties Ltd. (OR Stock Report). This is a company that will acquire and manage precious metal and other royalities and streams. It has a variety of assets in North America, Chile, and more. Its portfolio contains 135 royalties, streams, and precious metal offtakes in North America. So let’s see what Osisko has been doing recently.
Recently on November 25th the company launched Osisko Development Corp. and other corporate changes. Osisko Development will focus on being the next mid tier gold producer. Its common shares under ODV will trade on the TSX Venture Exchange on or around December 2nd. That is what has come from Osisko most recently in the news. These mining stocks show that even when the market is falling, there is potential.
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