Top Mining Stocks To Watch
There are so many factors that play into the movement of mining stocks in the market. This was especially true in 2020 because mining stocks experienced movement never seen before. The pandemic caused precious metal prices to skyrocket as a result of the falling economy. This resulted in metals like gold and silver reaching new heights in the market. Gold even managed to reach above $2,000 per ounce. But where are things at now that it is 2021? Well, gold was pushing back over $1,900 and silver has pushed over $27 per ounce. Then on January 8th, both metals experienced a big decline.
Gold fell to $1,845 per ounce while silver fell to $25 per ounce. This aligns with a lot of the stock market on the same day, with declines. This comes as reports are released that additional stimulus from the US government is still facing roadblocks. Senator Joe Manchin of West Virginia stated that he would not support another round of stimulus checks. Included in the assets affected was mining stocks. But this does not mean there isn’t plenty of great mining stocks to watch at the moment. Even when the market is down, there are many mining stocks that hold potential. 2021 could be a game changing year for these mining assets. Let’s take a look at four mining stocks that have shown good performance this year so far.
Top Mining Stocks To Watch: Franco-Nevada Corporation
First up on this list arrives Franco-Nevada Corporation (FNV Stock Report). Franco-Nevada is a royalty and stream mining company that focuses on gold, and also searches for silver and platinum group metals. Furthermore the company works with gas and energy comprising oil too. Its primary focus for the company is energy and mining. 2021 has begun, so let’s take a look at how Franco-Nevada and FNV stock are performing so far.
FNV stock price was at around $125 a share before the new year arrived. In 2021 so far, FNV stock’s high is at $132 a share. On the day of January 8th, FNV stock fell in price because of lowered metal prices. In fact, FNV stock price went down about 2.8% on the day. But the positive performance shown so far in 2021 is good for the company. FNV stock is able to remain higher than it was on December 31st despite the price drops on the 8th. That is why FNV stock is a notable mining stock that could potentially make your list of mining stocks to watch. The company had some great quarterly reports last year after recovery, so it will be interesting to see what it delivers in its next reports and updates.
Top Mining Stocks To Watch: Royal Gold Inc.
The next mining stock to watch is Royal Gold Inc. (RGLD Stock Report). Royal Gold is a royalty gold company that buys and manages numerous royalties, metal streams, and other similar assets. The company finances projects for stream or royalty interests. Royal Gold searches for the following metals at its mines: gold, silver, copper, zinc, nickel, lead, and cobalt. As of 2021, Royal Gold holds over 187 properties on 5 of the 7 continents. Included in this is interest on 41 producing mines and 16 developmental stage projects. So how is RGLD stock performing amid dropping mining stock prices on January 8th?
Well, RGLD stock went down about 4% on January 8th to $105 a share on average. This places RGLD stock price just $1 below where it was at on December 31st. This does not mean that things are looking grim for RGLD stock. Just like the other mining stocks that will be mentioned on this list, it is moving based on metal prices and not company performance. That is why RGLD stock price is being affected so much despite the lack of a super recent company update or financial report. Now we await the next update to come from the company, or metal prices to move again to see where RGLD stock is headed.
Top Mining Stocks To Watch: Kinross Gold Corporation
Next up is Kinross Gold Corporation (KGC Stock Report). Kinross Gold is a mining company that explores for land, acquires land, and develops gold assets on its properties. The company operates out of the United States, Canada, Russia, and many other countries. Kinross also extracts and processes gold ores, then produces and sells the precious minerals. Kinross Gold had 24.3 million ounces and 55.7 million ounces of proven and probable gold and silver respectively as of December 31st. Let’s see what Kinross and KGC stock’s performance looks like in 2021 so far.
In its latest financial reports back in November things looked very positive for the company. Now in 2021, this mining stock experienced a slight uptick in stock price. On December 31st, KGC stock price was at $7.39 a share on average. Then on January 8th KGC stock reached above $8 a share. But since metal prices fell, KGC stock has went down to $7.36 a share on average.
Top Mining Stocks To Watch: Agnico Eagle Mines Limited
The final mining stock to watch is Agnico Eagle Mines Limited (AEM Stock Report). Agnico Eagle Mines is an exploration, development, and production mineral properties company. It runs operation properties in Canada, Mexico, and Finland. It will produce and sell gold deposit, as well as silver, zinc, and copper deposits.
In 2021, Agnico saw a big spike in the first week. AEM stock price went from $70 a share on average to $76.60 a share on average. But as metal prices fell, it decreased to $72.18 a share on average. So despite the metal prices dropping, AEM stock price is still up over December 31st. This mining stock showed great performance in 2020, so the same can be expected this year if mining prices can hold and increase in value. Now it is a waiting game to see what will happen next.
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