These Mining Stocks Are Experiencing Positive Momentum
Nobody truly knew what mining stocks would become at the start of 2020. The pandemic caused mining stocks to rally like never before last year. The rise of mining stocks was attributed to the rise in price of metals such as gold and silver. For example, the price of gold even reached above $2000 at one point last year. This is because when the economy is hurt, many investors turn to metal investments as a way to turn a profit. So what is affecting these mining stocks at the moment? Well the $900 billion stimulus bill that was recently passed is helping mining stocks because stimulus is bad for the price of the dollar. In addition to this, rising COVID cases are helping mining stocks increase in price too.
Sure, there is a vaccine being distributed all over the world at the moment, but that will not be effective on a large scale for a long time. That is partially why mining stocks began to rally in the first week of 2021. But now we have entered the second week of 2021, so what is happening now? Well, mining stocks have fallen back down with the stabilization of the price of gold and silver. But some analysts think these precious metals could push much higher in price. The only thing that will be able to tell what will happen is time. The pandemic coming to a close could be a bad thing for mining stocks although a good thing for the world.
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There are also other types of mining stocks such as bitcoin mining stocks and lithium mining stocks. Bitcoin mining stocks have performed recently due to the new record highs that the cryptocurrency is reaching. So when investing in different types of mining stocks, things can get confusing. So let’s take a look at four mining stocks that seem to be ahead of the punch, experiencing positive upticks in recent history.
Top Mining Stocks To Buy Or Sell
- Paramount Gold Nevada Corp. (NYSE: PZG)
- Sprott Inc. (NYSE: SII)
- Seabridge Gold Inc. (NYSE: SA)
- SilverCrest Metals Inc. (NYSE: SILV)
Paramount Gold Nevada Corp.
The first mining stock to watch is Paramount Gold Nevada Corp. Paramount Gold Nevada Corp is a gold company that will acquire land, explore it, and develop precious metal properties. Its properties are all located in the United States in Nevada and Oregon. It holds interest in the Sleeper gold project, and the Grassy Mountain gold project. Combined these projects have more than 2700 unpatented claims. Let’s have a look at what Paramount has been up to in 2021.
Like many other mining stocks, PZG stock started the first week of 2021 off strong. Then, PZG stock price fell just like many other mining stocks. This was as a result of mineral prices stabilizing again after the first week of January. It will be interesting to see what direction this mining stock is going to move in next.
The next mining stock to watch is Sprott Inc. Sprott is a publicly owned asset management holdings company based in Canada. The company will provide asset management, portfolio management, wealth management, and many other services as well. The company is involved in the mining industry as well.
So at the surprise of nobody, SII stock increased at the start of January. And now just like the other mining stocks on this list, it has taken a dip in the second week of 2021. But this does not necessarily mean bad things for SII stock price. This momentum is solely based on the movement of the mining industry as a whole at the moment. So if things begin to recover in the sector then it is possible for SII stock to move up higher once again. For now, SII stock is on this list of mining stocks to watch.
Seabridge Gold Inc.
Next up on this list of mining stocks to buy or sell is Seabridge Gold Inc. Seabridge is an acquisition and exploration based gold company in North America. It will search for gold, silver, and copper ores. Primarily it operates the Kerr-Sulphurets-Mitchell property in Canada. It also operates various other properties throughout North America. Seabridge has seen similar performance as other mining stocks at the moment.[Read More] How To Invest In Mining Stocks For 2021
On the day of January 12th, SA stock price went up nearly 1%. This was as a result of gold prices slightly recovering on a per ounce basis. SA stock price is nearly at $21 a share on average as of January 12th 2021. Its most recent announcement was the closure of a $115.7 million bought deal financing. This consist of 6,710,000 common shares at $17.25 per share. These proceeds will be used to purchase the Snowfield Property from Pretivm Resources which was announced in early December 2020.
SilverCrest Metals Inc.
The last company on this list is SilverCrest Metals Inc. This is a mining business that actively acquires land, explores it, and develops different properties. The properties talked about focus on precious metals, and are located in Mexico. Its main resources searched for are silver and gold. Currently it runs the Las Chispas project holding 28 concessions totally 1400.96 hecatares, in Sonora, Mexico. So how has SILV stock been performing now that 2021 has started?
As you may have expected, it rose during the first week of 2021 and then fell back down. But on the day of January 12th, SILV stock price experienced some upticks once again, although slight. The company recently announced a $120 million project financing facility and $76.5 million fixed price EPC contract to construct a process plant. The CEO of the company, Eric Fier said, “The commitment by both partners ahead of the targeted January 2021 release of the Las Chispas Feasibility Study speaks to the strength of our team and project. While we recognize the challenges of building during this unprecedented time, we believe the strict and effective COVID-19 protocols that we have implemented on site, which are highlighted in these two important agreements, limit our risk.” That is the most recent update from the company.
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