These Mining Stocks Could Uptick In February 2021
There are so many factors that have been impacting mining stocks in 2021 so far. The obvious one is the pandemic, which caused the economy to tank and brought gold and silver prices up. The lack of recovery and raising pandemic numbers are only allowing mining stocks to hold momentum. In the first month of the year, the gold market has been stuck around $1,800 per ounce. On average, the first three weeks of the last few years saw a 3% gold price gain. But in 2021, the price of gold actually has fallen over 5%. But gold being able to hold itself around $1,800 is not a bad thing. Sure it’s not near the over $2,000 highs that gold reached per ounce last year. But this is still a very good price point for gold.
Some analysts even think that gold has the capability to push past $2,000 per ounce again. Currently nobody really knows for sure which direction that mining stocks could potentially move. There are a few things to consider if you are looking to invest in mining stocks at the moment. World news is always important when investing because it often dictates how the entire market as a whole is moving. Sector news is equally as influential on the way that mining stocks could move in the market. Some think that mining stocks are too volatile to trade at the moment, but this could not be further from the truth. There are plenty of great mining stocks to watch in the market. This sector has seen exponential growth in the last 10 months. Now we will see what 2021 has in store for mining stocks. Let’s take a look at four mining stocks that have had upwards trajectory in the market.
Top Mining Stocks To Buy Or Sell
- Coeur Mining Inc. (NYSE: CDE)
- B2Gold Corp. (NYSE: BTG)
- Endeavour Silver Corp. (NYSE: EXK)
- Great Panther Mining Limited (NYSE: GPL)
Coeur Mining Inc.
The first company on this mining stock list is Coeur Mining Inc. Coeur Mining is a company that explores for, develops, and produces various mineral resources. Primarily, these consist of gold, silver, zinc, and lead. It has interest 100% in the Palmarejo mine among many others like the Rochester mine. So how is Coeur performing in 2021 so far? The company performed well last year, so let’s look at its most recent updates.
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The latest update from Coeur was released on January 12th. Coeur Mining announced that it will report its fourth quarter and full year 2020 operational and financial results after the market close on Wednesday, February 17th 2021. CDE stock is at $8.30 per share as of January 26th. For now, this is a mining stock to watch.
Next up on this list is B2Gold Corp. B2Gold is a gold company that operates mines. It currently runs mines in Mali, the Philippines and Namibia. B2Gold operates the Fekola mine, Masbate Mine, and the Otjikoto Mine. The company also holds 81% interest in the Kiaka Project in Burkina Faso. In addition to these properties it has a portfolio of other evaluation and exploration assets. So what does the company’s performance look like as we continue through the new year?
On January 20th, the company reported its fourth quarter and full year gold production and revenue. Its gold production in the fourth quarter was 270,569 ounces. Its fourth quarter consolidated gold revenue was 53% higher year over year at $480 million. On January 26th, this mining stock is at $5.12 per share on average. The company’s recent report did boost its stock price a bit, but since has fallen back down. This can likely be attributed to the price of gold at the moment. It will be interesting to see how this company is able to progress in the future.
Endeavour Silver Corp.
Now let’s talk about Endeavour Silver Corp. Endeavour is a mining corporaion that acquires land, explores on it, and develops it. The company similarly works on the processing, refining, and reclamation at its mineral properties. The assets owned are situated in Mexico and Chile. Endeavour’s primary focus is searching for gold and silver deposits. So how has Endeavour and EXK performance been in 2021?
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Well on January 7th, the company reported its highest quarterly production in 2 years. Endeavour produced 1,117,289oz of silver and 12,586 oz gold. The CEO of the company, Bradford Cooke said, “Endeavour enjoyed its strongest operational performance in two years thanks to the measures we initiated in 2019 to return the Guanacevi and Bolañitos mines to profitability”. EXK stock price is at $4.40 a share as of January 26th, 2021. That is what makes it a plausible mining stock to watch.
Great Panther Mining Limited
The final mining stock to watch is Great Panther Mining Limited. Great Panther is a mining and exploration based company located in Canada. It actively explores for gold, silver, lead, copper, and zinc ores at its mines. The company’s mines are the Tucano gold mine in Brazil, two silver mines in Mexico, and others. Great Panther recently had to suspend operations at its Topia mine, but then reopened it back in December 2020. So how is GPL stock performing now that the new year has come?
On January 14th, the company announced that it achieved its 2020 guidance. In this report it stated its production was at 150,051 gold equivalent ounces. The CEO and President of the company, Rob Henderson said, “We delivered on our 2020 production guidance and produced more gold last year than in 2019, despite the challenges of COVID-19. Our teams in Brazil, Mexico, and Peru did a tremendous job prioritizing health and safety, while still achieving profitable production and executing our exploration programs” That is the most recent update that has come from the company. As of January 26th, this mining stock is at $78 a share on average.
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