These Mining Stocks Are High Performers
There are plenty of reasons to keep your eye on mining stocks at the moment. For one, many are at heights they have never seen in the market before. The mining stock sector has experienced momentum that is amazing. Let’s start with gold and silver. Gold and silver reached price points that were record highs in 2020. This included the price of gold reaching upwards of $2,000 per ounce at one point. Another booming sector of the market has been lithium stocks. Lithium is popular as a result of the explosion in popularity of technology and electric vehicles. Lithium ion batteries are used in electric vehicles like Tesla. As you know, these vehicles have exploded in popularity in the last decade. Rare earth metals, copper, steel, and more have all been trending sectors of the mining stock niche as well.
But what things are impacting mining stocks as we speak? Well, on February 11th, new jobless claims reports were released by the U.S. Labor Department. These reports stated that unemployment claims by Americans pulled back slightly to 793,000. This shows that despite a decline in COVID viral infections, there are still plenty of people applying for unemployment benefits. Now how does this affect mining stocks you may ask? Well, mining stocks go up usually when the economy is actually in a worse place. This is because traders will turn to metals instead of the dollar in dark economic times. Some think that the market is to volatile to invest in mining stocks at the moment. But this could not be further from true. There are still plenty of these assets that are trending upwards in the market. Let’s take a look at four mining stocks that are current market performers.
Top Mining Stocks To Buy Or Sell
- MP Materials Corp. (NYSE: MP)
- Comstock Mining Inc. (NYSE: LODE)
- Gerdau S.A. (NYSE: GGB)
- Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM)
MP Materials Corp.
First up on this list of mining stocks to watch is MP Materials Corp. MP is a mining company owning and operating rare earth mining and processing facilities. It is currently the largest rare earth materials producer in the Western Hemisphere. The company holds interest in 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. Let’s take a look at the company’s recent performance in the market as 2021 has begun.
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The most recent update from MP Materials arrived on February 8th, 2021. The company announced the date in which its fourth quarter and fiscal year 2020 financial results will be released. The release date is expected to take place on Thursday, March 18, 2021 after the U.S. markets close. The company will also host a conference call on the same day. This is likely when we will see the next progression for MP stock.
Comstock Mining Inc.
Next on this list is Comstock Mining Inc. Comstock is an exploration, development, and production focused mining corporation. The company mainly hunts for gold and silver in the Nevada region. Its two segments consist of mining and real estate. Its mining section owns 9,300 rough acres of mining claims and parcels. Comstock’s real estate segment has a diverse set of leased rooms, cottages, bar, restaurant, and a ranch. So how has Comstock and LODE stock been performing in 2021 so far?
Comstock and Mercury Clean Up LLC announced an update on their joint venture on February 10th. This update stated the companies are readying the launch of Mecurity Remidiation operations, first regional remediation, and more. Its operations are expected to begin full operations in March 2021. The CEO of Comstock, Corrado De Gasperis stated, “Each facility is expected to produce positive cash flow within a few months of start-up, with fast returns on capital deployed, typically in less than a year, depending on processing rates and the various by-products extracted from environment.” That is the latest update that has come from the company in regards to its ventures.
The third mining stock to watch is Gerdau S.A. Gerdau is basic materials company that offers steel products and services in both the United States and Canada. It also operates in of Brazil. Gerdau sells semi-finished products like billets, blooms, and slabs. The corporation produces long rolled products like wire rods, rebars, and other metal products. This includes fence wires, fences, and concrete reinforcing wire mesh. Gerdau had to increase its steel prices in 2020 as a result of its financial struggles. Its long steels increased by about 11% as a result. But how is its 2021 performance so far?
This company is yet to release a new update in 2021 yet. But this could not be the case for long if it joins the February to March earnings release train. Earnings often dictate which direction a stock could be moving in. For now, it is likely that GGB stock is moving as a result of metal prices themselves. It will be interesting to see the future progress of this mining stock throughout this year.
Sociedad Quimica y Minera de Chile S.A.
The final company on this list of mining stocks is Sociedad Quimica y Minera de Chile S.A. Sociedad Quimica y Minera de Chile is a producer and distributer of lithium, plant nutrients, iodine, potassium chloride, and sulfate. It also offers industrial chemicals and more. The corporation sells products under brands such as Ultrasol, Qrop, Speedfol, and Allganic. Many of its products are used for different types of films, batteries, etc. Now let’s have a peek at its 2021 performance.
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This company is moving in the direction of lithium prices at the moment. As a large distributer of lithium, Sociedad Química y Minera de Chile benefits from the rising mining stock prices at the moment.
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