Top Mining Stocks For Your Watchlist
Mining stocks have had an incredible year in terms of price upticks. The pandemic accelerated mining stocks to a level not expected before. There was issues at first for mining companies as production was not possible as a result of closures. But then things turned around and mining stocks began to skyrocket. The price of gold and silver has gone up significantly in 2020. The price of gold even reached a record high above $2,000 per ounce at one point this year. All of this has greatly increased the interest from investors for the sector.
Whether a beginner investor, or a day trader, there is plenty of potential with mining stocks. Right now the price of these assets are being affected by the distribution of COVID-19 vaccines all over the world. Vaccine distribution is prevalent in various places at the moment, for example with the United States receiving 2.9 million doses. The current stimulus bill debates are also impacting this. Vaccine news equals bad news for metal prices. Stimulus news equals good news for the price of precious metals. So clearly there is a lot impacting these stocks that could fall into place very soon. So let’s take a look at the top mining stocks to watch as we enter 2021 very soon.
Top Mining Stocks To Watch: Freeport-McMoRan
The first mining stock to watch is Freeport-McMoRan Inc. (FCX Stock Report). Freeport-McMoRan is a mining company that finds copper, gold, silver, molybdenum and other precious metals. It mainly operates assets in North America, South America, and Indonesia as well. Freeport-McMoRan has operations that look for oil and gas too. The company had about 116 billion pounds of copper, 29.6 million ounces of gold, and more in its consolidated recoverable proven and probable mineral reserves as of the end of 2019.
Freeport-McMoRan released financial results a few months ago that impacted share prices. The company stated that copper sales went up about 6-7% higher in estimated numbers. Freeport-McMoRan’s operating plans are being strongly executed at the moment. Despite the pandemic negatively affecting the company, FCX stock price has performed well this year. As of December, FCX stock price is higher than what it started 2020 at. That is why it has made this list of the top mining stocks to watch.
Top Mining Stocks To Watch: Western Copper and Gold Corporation
The next company on this list of mining stocks is Western Copper and Gold Corporation (WRN Stock Report). Western Copper and Gold Corporation is a mining company that will engage in the exploration and development of various mineral properties. These mineral properties are all located in Canada. The company searches for copper, gold, and molybdenum deposits. Its main property, the Casino mineral property, has 1,136 full and partial quartz claims and 55 placer claims. Let’s see what the company’s recent history looks like in 2020.
On December 14th, the company announced a preliminary economic assessment for the Casino project. The company stated that “The principal objective of the PEA will be to demonstrate positive economic indicators that justify further project development steps.” At the end of November the company reported that the Yukon Government and Little Salmon/Carmacks First Nation have agreed to upgrade three bridges on the Freegold Road. This will benefit the Casino Project. Those are the most recent updates that have come from this gold company.
Top Mining Stocks To Watch: Wheaton Precious Metals Corp.
Now let’s talk about Wheaton Precious Metals Corp. (WPM Stock Report). Wheaton Precious Metals Corp. is a company that will sell gold, silver, and palladium ores. Its products are sold all over the world and in Canada where its home based. The company actively has 20 operating mine agreements and 9 developmental stage project agreements. WPM stock price has been able to reach new record highs throughout 2020 so let’s see why and what the company has been up to.
July came around, WPM stock price reached its all time high in the market. This was due to rising metal prices and positive financials from Wheaton. In November, Wheaton put out positive financial results for the first 9 months of 2020. In these reports, it announced record revenue numbers, sales volume numbers, and operating cash flow numbers. Wheaton’s operating cash flow alone rose 60% year over year to $228 million. Its revenue grew 37.4% to a total $307,268 as well. As of December 16th, WPM stock is at $41.74 a share, up .7% on the day of.
Top Mining Stocks To Watch: Royal Gold Inc.
The final company on this list of mining stocks is Royal Gold Inc. (RGLD Stock Report). Royal Gold is a royalty based gold corporation that will acquire and manage various royalties, metal streams, and other related companies. The company acquires a royalty interest or stream and finance projects for stream or royalty interests. The resources looked for by the company are gold, silver, copper, zinc, nickel, lead, and cobalt. Now the company has more than 187 properties on 5 total continents. This also includes interest on 41 producing mines and 16 developmental stage projects. Let’s see how RGLD stock has been performing in the market recently.
The company put out a statement back in November that officially, in its 20 year history, the company has increased its dividend for shareholders every single year. 2020 was the same, moving its dividend from $1.13 a share to $1.20 per share. The dividends are paid by $0.30 per share quarterly. It is clear that there are plenty of great mining stocks to watch in the market as we progress through 2020. For this reason it is important to know which mining stocks are the best to invest in. Always look at recent advancements, news, volume, and more when deciding on what to invest in. 2021 could be a game changing year for mining stocks, but nobody knows for sure at the moment.
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