Have These Mining Stocks Made Your List? 4 To Know
It is known by most that mining stocks have increased in value greatly in 2020. This is due to rising mineral and metal prices and the state of the economy. The pandemic was detrimental to many industries, but increased the profits of many mining companies. While some did have to shut down operations for long periods of times, benefits arrived once operations continued. Now there is a few factors that are impacting the price of mining stocks in December. The first of which is that President-elect Biden may have a bi partisan pandemic financial aid packaged valued right under a trillion dollars. Stimulus negatively impacts the economy, which helps mining stocks go up in price. But what else is impacting the price of mining stocks?
Well, that would be the vaccines and pandemic. The faster that vaccines are distributed, the more hurt mining stocks could be. Some vaccine candidates have stated distribution could start as early as next week for the United Kingdom. These will be given to frontline health workers and elderly people that are at risk. With so many things brining up and down the prices of mining stocks, it can get confusing. It is always important to stay updated on the most recent updates that are coming from the sector if you are looking to invest. So now let’s have a look at four mining stocks that have been high performers in 2020.
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Mining Stocks To Watch In December: Harmony Gold Mining Company Limited
The first company on this list of mining stocks is Harmony Gold Mining Company Limited (HMY Stock Report). Harmony Gold Mining Company is an exploration, extraction, and processing company. It will process gold in South Africa and Papua New Guinea. The company additionally looks for silver, copper, and uranium deposits in these locations. 9 of its underground operations are at the Witwatersrand Basin in South Africa. Additionally, its Hidden Valley open pit gold and silver mine is located in Papau New Guinea. Let’s see what Harmony Gold Mining Company Limited has been up to recently.
One of the most recent announcements from the company was negative financial results back in September. Its revenue and gold production fell. On the 19th of November the company presented at the dbVIC Deutsche Bank ADR Virtual Investor Conference. Despite the bad financial results, HMY stock price has gone up in 2020. Back in January, HMY stock price was $3.87 a share on average. On December 4th 2020, HMY stock is at about $4.33 a share on average now. It will be interesting to see what comes next for Harmony Gold Mining Company Limited in its next financial results or company update.
Mining Stocks To Watch In December: Newmont Corporation
The next mining stock to watch is Newmont Corporation (NEM Stock Report). Newmont Corporation is a mining company that will produce and explore for silver, gold, copper, zinc, and lead at its properties. All of its land is located in the United States, Mexico, Canada, Peru, and others. The company’s proven and probable gold reserves as of December 31st 2019 totaled 100.2 million ounces. In total it holds more than 68,000 square km of land.
Newmont announced its plans to achieve zero emissions by 2050 recently. Since its earnings season, Newmont announced its advancements as well. In here was the announcement of 1.5 million attributable ounces of gold. It has $1.6 billion in cash from continued operations too. It reached record EBITDA numbers of $1.7 billion in this quarter as well. Newmont’s quarterly dividend for investors went up 60% in the quarter too to $0.40 a share. As a result of positive advancements, NEM stock price has increased a solid amount in 2020. This is why it could potentially make your list of mining stocks to watch.
Mining Stocks To Watch In December: Gold Fields Limited
Next up on this list of mining stocks to watch is Gold Fields Limited (GFI Stock Report). Gold Fields Limited is a gold producer that has a variety of resources and reserves. These are located in Chile, South Africa, Australia, Ghana, and Peru. In these locations it has 9 operating mines that have an annual gold equivalent production of 2.2 million ounces. It also has gold mineral reserves of about 51.3 million ounces and mineral resources of about 115.7 million ounces. The company has copper mineral reserves too, totaling 616 million pounds and mineral resources totaling 882 million pounds.
Gold Fields Limited released an operational update for the quarter ended September 30th 2020 on November 11th. It stated that it remains in a strong financial position. There was a larger decrease in the net debt balance to $1,159 million from $1,239 million. This means that the net debt balance excluding leases went down to $796 million from $876 million at the end of June 2020.
Mining Stocks To Watch In December: Cleveland-Cliffs Inc.
Last up on this list is Cleveland Cliffs Inc. (CLF Stock Report). Cleveland-Cliffs is an independent iron ore mining company. It operates in the United States, Canada, and internationally as well. Its main segments of the company are mining, pelletizing, and metallic. It runs 3 iron ore mines, the Tilden mine, Northshore mine, and United Taconite mines. Its products are used to produce blast furnace steel, flat rolled carbon, stainless, and electrical steel products. These are used in the automotive, infrastructure, and manufacturing markets.
Its most recent update comes from November 25th, when Cleveland-Cliffs received antitrust clearance from the US Department of Justice to acquire ArcelorMittal USA. The Chairman, President, and CEO of Cleveland-Cliffs Lourenco Goncalves stated, “We are pleased that the federal antitrust authorities have cleared our transaction ahead of schedule.” This transaction will be closed in December as the company originally planned. It believes it will soon become the largest flat-rolled steel producer in North America. The completion will be subject to other closing approvals and conditions, which Cleveland-Cliffs expects to settle before the transaction is completed.
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