Top Mining Stocks To Buy Or Sell
Mining stocks have been rather volatile in the last 10 months or so. This is all the cause and effect of the pandemic on this market sector. The pandemic tanked plenty of stocks including mining stocks back in March 2020 when the stock market crashed. But among those to make a very quick recovery was mining stocks. The price of gold and silver skyrocketed amid a falling economy. This was even able to push the price of gold to new record levels of above $2,000 per ounce on average. Silver also reached new highs in the market. Then when industrial demand returned later in 2020, silver was able to reach even higher. But now we have arrived in 2021, so what type of events are impacting the price of metal assets and mining stocks, you may ask. At the moment, it seems like the price of gold is stuck around the $1,860 per ounce region. By no means is this a bad thing though.
Gold has been able to hold above $1,800 for a couple reasons. The first of which, is the skyrocketing COVID numbers that are not going away at the moment. The vaccine is not being distributed enough to stop the infection yet. This is still hurting the economy as many places are in full lockdown. So adversely mining stocks benefit. BMO Capital Markets thinks that the 2021 average price for gold will be $1,894. If so, this would be the highest average price in the yellow metal’s history. But this is all speculation and predictions, nothing is for sure in this volatile market. For now, there are many great mining stocks to look at. So let’s see four of these metal assets that are proving positive performance in the market in February.
Top Mining Stocks To Buy Or Sell
- NovaGold Resources Inc. (NYSE: NG)
- Westwater Resources Inc. (NASDAQ: WWR)
- American Battery Metals Corporation (OTC: ABML)
- Galiano Gold Inc. (NYSE: GAU)
NovaGold Resources Inc.
The first mining stock to buy or sell is NovaGold Resources Inc. NovaGold will explore and develop gold mineral properties in the United States. The company holds a 50% interest in the Donlin Gold project holding 493 mining claims in Alaska. On January 19th, Donlin Gold that is half owned by NovaGold Resources released its 2020 fourth quarter drilling program assay results.
These results are continuing to pass modeled projects, while having a covid free year as well. These assay results for 67 holes have been received, and are showing higher drilled grade thickness. The CEO of Barrick Gold, who owns the other half of Donlin, said this, “Assay results received to date are encouraging and support the drill program to better understand the Donlin Gold orebody and de-risk the project development.” The President and CEO of NovaGold, Greg Lang, added, “In an era characterized by declining gold grades, it is truly rewarding to continue to be able to report drill results that support the potential of Donlin Gold, already an impressive asset in terms of size and grade for a large-scale open-pit gold project.” That is the latest that has come from NovaGold and associates.
Westwater Resources Inc.
Next up on this list of mining stocks comes Westwater Resources Inc. Westwater is an energy material company that has a diverse product lineup. It mostly explores for lithium, graphite, uranium, and Vanadium deposits. Its main property is the Coosa graphite project that covers 41,965 acres in east central Alabama. It also holds interest in various lithium projects, and various uranium projects. So what has Westwater’s performance looked like in 2021 so far you may be wondering?
The most recent update from Westwater arrived on January 5th. This is when the company announced the sale of its North American uranium business. This deal will allow Westwater to now focus on graphite development. The company has predicted $4 million in annual cost reductions. The President and Chief Executive Officer of Westwater, Christopher M. Jones said, “We are happy to place these uranium assets in the hands of a company like enCore where they can be developed further as part of a larger, consolidated land position. With over $50 million in our treasury, Westwater can now devote its full focus, attention and resources on advancing our battery-grade graphite product business.” WWR stock price is at $6.55 per share as of January 25th. Just one year ago, WWR stock was at $2 per share on average.
American Battery Metals Corporation
Now let’s talk about American Battery Metals Corporation. American Battery Metals will actively explores, mine, extract, and recycle battery materials. This corporation owns around 1,300 lithium mining claims in more than 30,000 acres of land at all of its properties. Most of the company’s assets are located in Nevada. So how is ABML stock performing now that 2021 has arrived?
Its latest update was on December 15th when it announced that it had reached critical milestones. This included purchasing the Pilot Factory Land, securing water rights, hiring a design build construction firm, and more. In the last 5 days, ABML stock price has gone from under $1.40 per share to above $4 per share on average. That is why this company has made this list of mining stocks to watch.
Galiano Gold Inc.
The final company on this list is Galiano Gold Inc. Gliano Gold is an exploration, development, and production company based out of Canada. The company owns gold properties such as the Asanko Gold Mine in Ghana, West Africa. Let’s take a look at this gold company’s recent performance.
The last update that came from Galiano Gold was on November 30th, when it provided a Miradani North exploration update. So you may be wondering then, what is driving GAU stock price in 2021 so far? Well, GAU stock is moving with the price of gold itself at the moment. So this means it saw an uptick in the first week of 2021, fell back down, then went up a bit again last week. As of January 25th, GAU stock price is at $1.10 per share on average.
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