Top Mining Stocks To Watch Mid December
It has been quite a strange year for mining stocks in the market. Rapid growth that has never been seen before in this sector has been seen in 2020. The price of gold even reached about $2,000 at one point. Continued stimulus and rising coronavirus cases have been the main contributing factor to this rise up in mining stocks. But now we are in mid December of 2020, so things are changing. Vaccines started shipping to the United States a few days ago. Now on December 14th these vaccines have been given to the first few patients in New York. The first batch of vaccines being shipped out is 2.9 million in total from Pfizer’s facilities. In addition to this recent news, there is a bipartisan stimulus bill being negotiated by Senators at the moment.
While vaccine news brings mining stock prices down, stimulus news could bring them up. This is because when the economy is trouble it is good for precious metals. People use precious metals as an asset instead of the dollar in times where the dollar is struggling. So that means there are a lot of potential mining stocks to watch as things progress in December. Let’s take a look at four mining stocks that could make your watch list potentially. These are all mining stocks that have increased in price a lot throughout 2020 for various reasons. From silver stocks to lithium stocks, let’s dive into the list!
Top Mining Stocks To Watch Mid December: Teck Resources Limited
The first company on this list is Teck Resources Limited (TECK Stock Report) due to its recent drive in the market. Teck Resources Limited is a mining company that focuses on research, exploration, development, and production of natural resources. The company runs in the Asia Pacific, the Americas, and Europe. Its different segments include Steelmaking Coal, Copper, Zinc, and Energy. Teck is in these segments, in which it produces coal, copper, zinc, bitumen, gold, silver, and plenty more resources. It owns 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.
The company released its unaudited third quarter results for 2020 on October 26th. It was here that Teck reported profit attributable to shareholders of $130 million or $0.24 a share. Because of the pandemic, Teck 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.” The company is attempting to improve its financial numbers in any way possible at the moment. It will be interesting to see what Teck is able to accomplish in the future, as its stock price has risen significantly this year.
Top Mining Stocks To Watch Mid December: Ablemarle Corporation
Next up on this list of the top mining stocks to watch is Ablemarle Corporation (ALB Stock Report). This is a company that will develop, manufacture, and market engineered specialty chemicals. Ablemarle operates in three different sections; Lithium, Bromine Specialties, and Catalysts. The company’s Lithium section offers lithium compounds like lithium carbonate, lithium, hydroxide, and more. This item is used for batteries in electric vehicles among a variety of other things. Ablemarle’s cesium products are used in pharmaceutical and chemical industries. Its bromine solutions are given for fire safety, chemical synthesis, water purification, beef and poultry processing and more. Let’s look at the company’s recent history as well.[Read More] These Mining Stocks Are Conquering 2020
Four days ago the company presented at the Benchmark Minerals Lithium Conference 2020. In November though, Ablemarle announced that it is a founding member of ZETA. ZETA is a U.S. based coalition that is committed to reaching 100 percent electric vehicle sales by 2030. The program’s plans are to advocate for national policies that enable the full adoption of EVs by 2030 and support creating new jobs and reduce carbon pollution. ALB stock price was at $72 a share at the start of 2020. As of December 14th, ALB stock is now at $134 a share on average. That is why Ablemarle has made this list of mining stocks to watch.
Top Mining Stocks To Watch Mid December: Southern Copper Corporation
The second to last company on this list of mining stocks is Southern Copper Corporation (SCCO Stock Report). This is a company that explores, mines, smelts, and refines copper and other minerals. Southern Copper operates mines in Peru, Mexico, Ecuador, Argentina, and Chile. The company’s primary functions are mining and milling copper ore. To date it has more than 290,000 hectares of land across all of its properties.
The mining company released its third quarter results a few months ago. It announced that its copper output dropped 1.4% due to the pandemic and closures as a result. Additionally, Southern Copper’s silver production fell 1.3%. The company claims it does not expect any noteworthy delays in spite of 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 coming quarters.
Top Mining Stocks To Watch Mid December: Pan American Silver Corp
The last mining stock on this list is Pan American Silver Corp. (PAAS Stock Report). Pan American Silver Corp is a mining corporation that explores for and develops mineral properties in Canada, Mexico, among other countries. Pan American processes, extracts, reclaims, and refine precious metals. These metals include the resources silver, gold, zinc, lead, and copper.
In its most recent quarterly results, Pan American announced that it massively lowered its operating costs. Furthermore, higher silver and gold prices resulted in its mine earnings growing to $124.6 million. Regardless of the pandemic causing delays and closures, it has most of its operations going again. That is why PAAS stock has gone up in price, and is a potential mining stock to watch.
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