Top Mining Stocks To Watch
2021 has arrived and with it has come lots of upticks for mining stocks. This started as the United States government has approved a $900 billion stimulus plan. This includes providing $600 to most Americans via stimulus checks and direct deposit. Stimulus hurts the value of the dollar. And when the dollar slips, many investors turn to mining stocks as another form of investment. So at the moment, the price of precious metals like gold and silver among others have increased in price. Silver pushed above $27 per ounce, and gold pushed above $1,900 per ounce. While on January 6th precious metals fell a bit, still so far in 2021 the assets are up.
It is key to look at the things happening in the news when investing in mining stocks. The vaccines, stimulus, election, and much more are all things that have impacted mining stocks recently. This is because the major news events in the world are big drivers for the direction that these assets move. It can get confusing to know which mining stocks to invest in. So let’s have a look at some top mining stocks to watch in 2021. These mining stocks have moved in a positive direction in the last few days since the new year started. Time will tell if the assets can push up even further in price in the coming days, weeks, and months. For now, we ask, will these mining stocks keep rising in the market?
Top Mining Stocks To Watch: New Gold Inc.
First up on this list of mining stocks arrives New Gold Inc. (NGD Stock Report). New Gold is a mining company that develops mineral properties in many locations around Mexico and Canada. The company’s current mining projects have a focus on gold, silver, and copper deposits at its mines. Its locations include the Rainy River mine, Afton mine, Cerro San Pedro mine, and a few other mines as well. The most recent update from the company comes in the form of it announcing a partial redemption of its outstanding 6.375% senior notes.
On the day of January 6th, NGD stock price went up about 4%. This was an increase from $2.24 a share on average to $2.33 a share on average in a single day. On December 31st, this mining stock was at $2.20 a share on average. So NGD stock price has already gone up quite a bit in 2021. Earnings season is approaching soon and it will be interesting to see the newest performance updates from the company. Currently New Gold’s stock price is being moved by the price of precious metals like gold, silver, and copper themselves.
Top Mining Stocks To Watch: Cleveland-Cliffs Inc.
Next up to discuss is Cleveland Cliffs Inc. (CLF Stock Report). Cleveland-Cliffs is an iron ore mining corporation that operates in the United States, Canada, and internationally. Cleveland-Cliff’s main segments of the company are mining, pelletizing, and metallic. The company operates three iron mines, the Tilden mine, Northshore mine, and United Taconite mine. Its products are used to produce blast furnace steel, flat rolled carbon, stainless, and electrical steel products. The steel products are used in the automotive, infrastructure, and manufacturing markets. Cleveland-Cliff’s most recent update comes from December 11th, when the company wrapped up the acquisition of ArcelorMittal USA.
CLF stock price is at $17.40 a share on average as of January 6th 2020. On just this day, CLF stock price went up nearly 11% in shares. On December 31st 2020, CLF stock was at $14.62 a share on average. It is clear that CLF stock has increased a lot, more than some other similar mining stocks. This comes as metal prices rise in the market. As a result, on the 6th of January, Cleveland-Cliff’s volume is more than double its regular amount. That is what places Cleveland-Cliff’s on this list of potential mining stocks to buy or sell.
Top Mining Stocks To Watch: Gerdau S.A.
Next on this list of mining stocks is Gerdau S.A. (GGB Stock Report). Gerdau is basic materials company that offers steel products and services in both the United States and Canada. Gerdau additionally operates out of Brazil. It offers semi-finished products like billets, blooms, and slabs. Gerdau S.A. also produces long rolled products like wire rods, rebars, and other metal products. This also includes fence wires, fences, and concrete reinforcing wire mesh. The company was forced to increase its steel prices last year due to its struggles financially. Its long steels increased by about 11% as a result.
GGB stock has been able to make a full recovery since the beginning of last year. Currently GGB stock price is at $5.29 a share on average, up about 4.75% on the day of January 6th 2021. Just 5 days ago, this mining stock was at $4.70 a share on average. This mining stock has gone up for similar reasons as the others on this list. The reason being increasing metal prices due to the things mentioned above driving them up.
Top Mining Stocks To Watch: United States Antimony Corporation
The final company on this list is the United States Antimony Corporation (UAMY Stock Report). UAMY mainly focuses on producing and selling antimony, silver, gold, and zeolite products in North America. Among its products are a flame retardant system for plastics, rubber, fiberglass, paints, paper, and more. Its antimony oxide is used as a color fastener in paints. Recently, UAMY announced a $2 million private placement in order to accelerate its development of its Los Juarez gold and silver project. Let’s see how UAMY stock is performing now that 2021 has started.
So UAMY stock has reached about $5.80 a share on average as of January 6th 2021. This mining stock was at $5.30 a share on average previously, so this shows great growth for UAMY stock. Last month, US Antimony completed its initial drill program at the Los Juarez gold, silver, and antimony mine. That update came from November 30th, 2020.
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