Top Mining Stocks To Watch
February has just arrived, and with it has come some interesting market history for mining stocks in the market. For example, silver randomly spiking out of nowhere, potentially due to Reddit traders. The price of silver went up to $29 per ounce, causing some silver stocks to spike as much as more than 30% in one day. Then, just a day or two after these silver stocks fell back down, keeping minimal gains. Gold stayed relatively the same during this time span, as it was just a rush for silver. January was quite an interesting month for mining stocks as well. Specifically in the first week, when gold prices touched above $1,900. This caused plenty of mining stocks to get a large uptick in the first week but then settle back down in the coming weeks.
What is very important for these mining stocks is the price point of metals like gold and silver. Gold is above $1,800 per ounce, and silver is above $26 per ounce. This key price point is remaining stable at the moment due to the pandemic continuing. Nobody truly knows what will happen to the sector once the pandemic is over. But for now, the hype train is not yet over for mining stocks. There are plenty of mining stocks that are increasing in value every day or every week etc. There are other types of companies in this sector, too, not just gold and silver related. Lithium stocks have been very bullish in the market lately. Rare earth metal-related companies have additionally received upticks in recent times. Let’s now look at four mining stocks with positive recent market history and could potentially move upwards in the market.
Top Mining Stocks To Watch
- MP Materials Corp. (NYSE: MP)
- Sandstorm Gold Ltd. (NYSE: SAND)
- Osisko Gold Royalties Ltd. (NYSE: OR)
- Seabridge Gold Inc. (NYSE: SA)
MP Materials Corp.
The first mining stock to watch is MP Materials Corp. MP is a mining corporation that owns and operated rare earth mining and processing facilities. It owns the Mountain Pass facility, and owns the mineral rights to the Mountain Pass mine and surrounding area. The company owns intellectual property rights for the processing and development of different rare earth minerals. MP Materials sells neodymium and praseodymium as its products. So how has MP Materials performed in 2021 so far?
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Well the latest company update was back in November on the 23rd. The company released its third quarter results for the company. It was here in which its revenue grew 52% year over year to $41 million, as well as many other positive stats. Currently the wait is for MP Materials fourth quarter results report to see how the company is currently performing.
Sandstorm Gold Ltd.
Next up on this mining stock list is Sandstorm Gold. Sandstorm is a gold royalty firm that acquires gold and other purchase agreements from companies. The agreements are from companies that actively have advanced stage development projects or operating mines. It will pay up front for companies to acquire gold streams or royalties and has rights to purchase a percentage of the production for the life of the mine. How is Sandstorm performing now that we’ve reached 2021 you may ask?
On January 19th, the company released its latest update. The company provided an asset update. This included a lot of recent mining results from its many claims. SAND stock price is currently at $6.55 a share on average as of February 2nd, 2021. It experienced an uptick on February 1st, but then fell back down on the 2nd. This is likely attributed to moving metal prices in the market and not the actual company performance. SAND stock has a much higher volume than normal at the moment, which is why it places on this list of mining stocks to watch.
Osisko Gold Royalties Ltd.
Now let’s talk about Osisko Gold Royalties Ltd. Osisko is a gold company acquiring and managing precious metal royalties and streams. The company’s assets include 5% net smelter return royualties on the Canadian Malartic mine, and many more as well. Its properties total 135 royalties, streams, and precious metal offtakes in North America. So let’s have a look at how the company has fared in the market recently.
On January 22nd, 2021, the company has filed an early warning report in regards to Cornish Metals Inc. The investor acquired 9,577,143 common shares by exercising warrants. On February 1st, OR stock price received a large boost, but then sold off on February 2nd. Yet still, the company’s volume is much higher than its regular trading.
Seabridge Gold Inc.
Last up on this list of mining stocks to watch is Seabridge Gold. Seabridge is an acquisition and exploration based gold corporation based out of North America. The company searches 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. Let’s check out the recent performance for the company and stock.
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On January 22nd, the company announced that it entered a Controlled Equity Offering sales agreement for the same day with Cantor Fitzgerald & Co. and B. Riley Securities Inc. This is for common shares that would have aggregate gross proceeds to the company of up to $75 million. The trading volume for SA stock is much higher than its regular volume at the moment. That is what makes this a rather interesting mining stock to watch at the moment. Seabridge Gold has proven its momentum in the last year, so it will be great to see what the company has in store for 2021.
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