Mining Stocks That May Pull Ahead In February 2021
The uprise of mining stocks in the last year is something that nobody could have expected before the pandemic happened. In general the pandemic caused a ton of tech related stocks among others to rise up in the market. But one sometimes overlooked sector of the market is mining stocks. Mining stocks can relate to many types of assets. Usually people think of gold and silver mining when it comes to the sector. But there is also rare earth metals, platinum group metals, lithium mining and much more involved in this. Gold prices have held at a key price point of above $1,800 per ounce for a while which has allowed gold related stocks to hold momentum. The same story goes for those related to silver.
What about lithium stocks? Lithium is the key ingredient in lithium ion batteries. These batteries are used in electric vehicles, which is a booming sector at the moment. You’ve seen the growth of companies like Tesla in the last year, so you could imagine the growth of lithium with it. Lithium is used in lots of electronics as well. There are plenty of things to look for when investing in the mining stock sector, no matter which segment its in. World news is very important as it affects all stocks, especially mining stocks. Things like jobless claim reports, real estate reports, and more affect the price of mining stocks too. As the pandemic continues roaring on, the price of mining stocks seems to be either going up, or holding similar momentum from the end of 2020. There are so many choices when searching for mining stocks to watch. Let’s look at four that showed positive performance last year, and have potential for the new year.
Top Mining Stocks To Watch
- Galiano Gold Inc. (NYSE: GAU)
- McEwen Mining Inc. (NYSE: MUX)
- Gold Resource Corporation (NYSE: GORO)
- Silvercorp Metals Inc. (NYSE: SVM)
Galiano Gold Inc.
First up on this mining stock list is Galiano Gold Inc. Galiano Gold is an exploration, development, and production company located in Canada. It operates gold properties such as the Asanko Gold Mine in Ghana, West Africa. Galiano saw a lot of positive performance back in 2020. So what is the state of this mining stock looking like as we lean towards the second month of 2021?
The latest update from the company was all the way back in November. This was in the form of its third quarter financial results. In these results it said that it expected production to decrease and unit costs to increase in the second half of the year. But this is the latest information that we got from the company. So what is driving GAU stock price you may ask. Well, the price of gold itself is what is moving GAU stock in general at the moment. That is the reason that this gold stock is holding key momentum as gold prices stay above $1,800 per ounce.
McEwen Mining Inc.
The next mining stock to watch is McEwen Mining Inc. McEwen is a corporation exploring for, developing, producing, and selling various mineral resources. The resources in question are silver, gold, and copper. McEwen owns 100% interest in the El Gallo project, Fenix project, Black Fox mine, and plenty more. It operates properties in Mexico, Canada, Argentina, and the United States. Now let’s have a look at the company’s most recent updates and see what is moving MUX stock price.
The company’s latest update was on January 8th, 2021. The company announced a flow through financing fund to help the development of its Froome deposit. This deposit is expected to reach commercial production by the fourth quarter of this year. This is a $11,821,000 private placement of flow through common shares priced at $1.02 a share. MUX stock price is at $1.35 a share on average as of January 28th 2021. It will be interesting to see how this company performs once more updates are released that provide a greater outlook for McEwen Mining.
Gold Resource Corporation
Next up on this list of mining stocks to watch in February is Gold Resource Corporation. Gold Resource explores for, develops, produces, and sells various minerals. These minerals include gold, silver, copper, lead and zinc deposits. These operations are executed in the United States and Mexico. Its main project is the Aguila project that has 18 mining concessions over 24,372 hectares. That property is located in the State of Oaxaca, Mexico. Gold Resource Corporation has shown positive recent momentum, so let’s have a gander at where it stands in 2021.
On January 25th, Gold Resource Corporation reported its 2020 annual gold and silver production. Its total production year numbers were 20,473 ounces of gold, and 1,189,366 ounces of silver. The President and CEO of the company, Allen Palmiere said, “While COVID-19 is expected to remain a challenge in the short to medium term, our team has done an admirable job managing the situation. The Company finished the year with a strong balance sheet, including $25.4 million in cash, which provides us with flexibility as we move to reinvest capital in Mexico to increase the productivity and the life of the operations.” GORO stock price is at $2.73 a share as of January 28th 2021.
Silvercorp Metals Inc.
The final mining stock to watch is Silvercorp Metals Inc. Silvercorp acquires, explores, and mines at different mineral properties. All of its assets are located in China. Its exploration materials in target are silver, gold, lead, and zinc. The company owns interest in many projects such as the Ying project in Henan Province, China. Let’s check out Silvercorp’s recent market performance.
SVM stock price is at $6.11 a share as of January 28th. The company has announced its operational results and financial results for its fiscal 2021 year. It produced 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc. That is the latest update that has come from the mining company.
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