Top Mining Stocks To Buy Or Sell In December
Mining stocks have had quite the bull run throughout 2020. But now things have been stalled by current events. You have seen the massive gains mining companies have experienced all throughout 2020. This has been due to the pandemic tanking the economy, government stimulus, and lack of a COVID-19 resolution. But now its December, it isn’t early 2020 anymore we are near the end of the year. As you know there are two vaccine candidates, which now have began distribution in the United Kingdom. On December 12th it was announced that Pfizer’s COVID-19 vaccine have received favorable votes of 17-4 for approval in the United States. So the USA will likely be the 4th state to approve vaccines. If this vaccine is distributed worldwide, it could hurt mining stocks.
But mining stocks are also going up because of a proposed stimulus bill from the Trump administration. This bill would provide $906 billion in stimulus of $600 to most Americans, and support businesses. The issue is it would eliminate the $300 unemployment payments that are active. So when the bill was first announced gold went above $1,850, but now it sits around $1,830 after pull back from Senate negotiators. It is a great time to invest in mining stocks with so much going on the market. You just need to be smart about the way of investing, and always stay up to date on things that are happening in the sector. Let’s take a look now at four mining stocks that could potentially make your watchlist in 2020.
Top Mining Stocks To Buy [Or Sell] In December: Newmont Corporation
The first company on this list of mining stocks 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. The company’s land is located in the United States, Mexico, Canada, Peru, and others. Newmont’s proven and probable gold reserves as of December 31st 2019 totaled 100.2 million ounces. Overall this mining company it holds more than 68,000 square km of land.
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On December 8th the company provided an essential update. Its production guidance is at 6.5 million ounces for 2021. It is expected to be between 6.5 and 7 million ounces through 2025. The CEO of the company, Tom Palmer said, “Newmont’s outlook remains strong and stable as we apply the rigor and discipline of our proven operating model across our world-class portfolio. Our five-year outlook reflects improving production and costs as we continue to deliver value from superior operational and project execution.” Now we await to see what the next update from Newmont will be. NEM stock is a high performer in 2020.
Top Mining Stocks To Buy [Or Sell] In December: Franco-Nevada Corporation
Next up on this list of mining stocks to buy or sell is Franco-Nevada Corporation (FNV Stock Report). Franco-Nevada Corporation is a royalty and stream mining corporation. It will focus on gold but also will work with silver and platinum group metals. Additionally Franco-Nevada works with gas and energy comprising oil too. Its main chapters of the company are energy and mining. Let’s look at what Franco-Nevada Corporation has been doing in recent times.
Franco-Nevada reported its third quarter results on November 4th. It reached a record EBITDA and net earnings too. Its revenue went up 19% to $279.8 million which was massive news for the company. Franco-Nevada’s net income also saw a big uptick to $153.9 million, up 51%. This caused large upticks in FNV stock price as well, which made Franco-Nevada a great gold stock to watch. Franco-Nevada Corporationdeclared a dividend payable on December 17th to its shareholders. That is what this mining stock is up to in most recent history.
Top Mining Stocks To Buy [Or Sell] In December: Agnico Mines Limited
Next up on this list is Agnico Eagle Mines Limited (AEM Stock Report). Agnico Eagle Mines is an exploration, development, and production based mineral property business. The company operates properties in Canada, Mexico, and Finland. It will produce and sell gold deposit, as well as silver, zinc, and copper deposits. Its main property is the LaRonde mine in Canada. As of December 31st 2019, its LaRonde mine had a mineral reserve of about 2.9 million ounces of gold. Let’s see what Agnico has been up to recently.
On the 28th of October, Agnico Eagle gave a financial update for the third quarter of this year. Agnico reported net income of $222.7 million or $0.92 per share for the quarter. The company’s net income for the first 9 months of 2020 was $306.4 million, up from $141 million the previous year. Agnico’s cash from operating activities went up from $349.2 million to $462.5 million as well. The increases in numbers were as a result of increased revenue from mining operations, higher metal prices, even though it had higher production costs and income and mining taxes. As a result, AEM stock price is up nearly 10% in 2020 which shows positive trajectory for this mining stock.
[Read More] Top Gold Stocks To Watch This WeekTop Mining Stocks To Buy [Or Sell] In December: Gold Resource Corporation
The final corporation on this list of mining stocks is Gold Resource Corporation (GORO Stock Report). Gold Resource Corporation is a business that involves itself in the exploration, development, production, and retailing of gold. The company additionally searches for minerals like silver, copper, lead, and zinc at various deposits. Its operations are run in the US and Mexico. Mostly, Gold Resource Corporation focuses on the Aguila project holding 18 mining concessions in land of more than 24,000 hectares in Mexico. Let’s see what this mining stock has been doing in recent history.
On November 25th the company declared its monthly dividend of one third of a cent per common share. It will be payable to shareholders on December 23rd. The company has paid back $115 million to its shareholders in consecutive monthly dividends. As of December 10th, GORO stock price is at $3.36 a share on average. That is all for this list of the top mining stocks to buy or sell. Stay up to date with what is happening in the sector to discover future advancements with these companies.
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