Electric Vehicles Are Making These Mining Stocks Perform Well
There are so many types of mining stocks that are trending in the market at the moment. This boom started after the pandemic began at the start of 2020. Now it’s 2021 and the momentum that mining stocks had has continued into the New Year. In addition to mining stocks, tech stocks and electric vehicle stocks have also drastically increased their market share. So how is this related to the mining stock sector you may be wondering? Well, there are many mining stocks that go hand in hand with electric vehicles. These mining stocks usually involve the search for lithium and platinum group metals. Electric vehicles have exploded in popularity in the last decade, especially right now. Most lithium stocks are at or near record-high stock prices as a result.
Many electronics use lithium in batteries for their products as well. That is how these mining stocks are tied in with tech stocks. Companies like Tesla are selling electric vehicles at a rate that they are flying off of the shelves. So it is no surprise that when electric vehicle stocks are performing well, these types of mining stocks are too. You may be wondering, what else is impacting the price of mining stocks at the moment?
Well, on January 20th, Joe Biden will be inaugurated into office which could change a lot. Biden has already announced a $1.9 trillion Covid relief bill expected to be signed shortly after he is sworn in. Stimulus from the government causes the value of the dollar to fall, which can help mining stocks. There are many other factors impacting mining stocks at the moment. So let’s have a look at four mining stocks that are performing well amid the electric vehicle boom.
Top Mining Stocks To Watch
- PolyMet Mining Corp. (NYSE: PLM)
- American Battery Metals Corporation (OTC: ABML)
- United States Antimony Corporation (NYSE: UAMY)
- Piedmont Lithium Limited (NASDAQ: PLL)
PolyMet Mining Corp.
First up on this list comes PolyMet Mining Corp. PolyMet Mining is a corporation that focuses on exploration and development of natural resource properties. PolyMet’s of its main mineral property is the NorthMet project located in Minnesota. The project seeks copper, nickel, cobalt, gold, silver, and platinum group metal mineralization. On its land, totaling over 4,300 acres, has brought great progress to PolyMet. But how is the company performing now that 2021 has arrived?
As of January 19th, PLM stock price has reached $4.14 a share on average. Just 5 days ago, this mining stock was at $3.50 a share on average. This exponential growth of the company has been caused as a result of rising material usage. The company’s involvement in electric vehicles means that it moves upwards when companies like Tesla do as well. It will be interesting to see the next further advancements to come from the company. It is possible that PolyMet will release financial results or more news in the coming weeks or months.
American Battery Metals Corporation
Next up on this mining stock list is American Battery Metals Corporation. American Battery Metals explores, mines, extracts, and recycles battery materials. The company currently owns about 1,300 lithium mining claims in more than 30,000 acres of land all over the world. The land in question is located in the Western Nevada basin in Nye County, Nevada. Now let’s see what the company has been up to in 2021 so far.
In the last 5 days, ABML stock price has gone from $1.14 a share on average to about $1.43 a share on average. This exponential growth was great for investors in the company. Its most recent update is from December when the company announced it had reached critical milestones. These included the purchase of the Pilot Factory Land, securing of water rights, hiring of a build construction firm, and much more. It will be interesting to see how this mining stock grows from here.
United States Antimony Corporation
Next up is United States Antimony Corporation. UAMY will produce and sell antimony, silver, gold, and zeolite products mostly in North America. In its lineup is a flame retardant system for plastics, rubber, fiberglass, paints, paper, and more. Its antimony oxide is used as a color fastener in paints. Its latest update is in the form of a $2 million private placement to accelerate the development of its Los Juarez gold and silver project. Now 2021 has arrived, so where is UAMY stock at?
[Read More] Top Mining Stocks To Watch In Mid January
Just like the others on this list, UAMY stock has gone up significantly in the last 5 days. At the moment, UAMY stock is nearly at $0.80 per share on average. Just a week ago, this mining penny stock was at $0.70 a share on average. That shows the growth of this mining stock in 2021 so far, which is driven by rising mineral costs and demand.
Piedmont Lithium Limited
Last up on this list is Piedmont Lithium. Piedmont explores and develops resource projects in the United States. Currently it has a 100% interest in the Piedmont Lithium Project that covers more than 2,126 acres in North Carolina. It also possesses a 61 acre property in Kings Mountain, North Carolina for similar exploration purposes. Now let’s check out Piedmont’s performance this year so far.
As of January 19th, PLM stock price is at $45 a share on average. The company recently announced a strategic investment in Quebec Hard-Rock lithium developer Sayona Mining. PolyMet invested $12 million for 19.9% of Sayona Mining Limited and 25% of Sayona Quebec. The CEO of the company, Keith D. Phillips said, “Quebec is poised to become an important lithium hydroxide production center given its abundant mineral resources, low-cost, sustainable hydro-electric power, proximity to major US and European electric vehicle markets, and pro-electrification stance of provincial leaders.” That is the latest that has come from Piedmont.
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