Top Mining Stocks To Watch
So many mining stocks have been trending in the market lately. Nobody knew what was to come for the mining stock sector just one year ago. Then the pandemic happened, and most mining stocks tanked in mid March 2020. But after this, many mining stocks experienced a rally like never before. Let’s start off with gold and silver stocks. Gold and silver resources shot up in price as the economy fell in the United States. Gold prices peaked at above $2000 at one point, and silver reached record highs as well. Now in 2021, these resources are not quite as high, but still very high. Gold is able to hold itself above $1800 per ounce and silver is holding above $27 per ounce as well. Silver stocks recently received a boost after reports of Reddit traders from the subreddit WallStreetBets boosting the price.
The next day, Reddit traders denied they were behind this, and the metal fell back down after its rally to $30 per ounce. Still ,silver was able to hold on to about $2 in ounce price gains regardless of this. Lithium stocks have also been high performers in the market in 2020 and 2021. Lithium ion batteries are used in lots of technology, but most importantly they are used in electric vehicles. In the last decade, electric vehicles have been the largest new automotive trend with most automakers trying to join the market. Above the other companies is Tesla, which sells the most electric vehicles per year. Tesla has contracts with multiple lithium companies for its batteries. So often when electric vehicle stocks are performing well in the market, lithium stocks will too. Let’s take a look at four of these mining stocks that are showing good performance in 2021.
Top Mining Stocks To Watch
- Southern Copper Corporation (NYSE: SCCO)
- Freeport-McMorRan Inc. (NYSE: FCX)
- Avino Silver & Gold Mines Ltd. (NYSE: ASM)
- Turquoise Hill Resources Ltd. (NYSE: TRQ)
Southern Copper Corporation
The first mining stock to watch is Southern Copper Corporation. This company will mine, explore, smelt, and refine copper. Its operations take place in countries like Peru, Mexico, Argentina, and more. It will also mine and mill copper ore to produce the metal. The company has over 290,000 hectares of land across all of its properties. Now let’s dive into what Souther Copper’s recent market performance looks like in 2021 so far.
On January 29th, the latest update from the corporation was released. This was the fourth quarter 2020 earnings. Its earnings beat estimates, and rose year over year. Its net sales went up 27% year over year, and its operating costs went up 5% year over year as well.
Next up is Freeport-McMoRan Inc. Freeport-McMoRan is a mining company that searches for gold, silver, copper, molybdenum, among other metals. It operates out of North America, South America, and Indonesia. Additionally, the company owns plenty of oil and gas properties that are in California and the Gulf of Mexico. Let’s dive into its most recent performance and updates this year. On February 2nd, the company announced the reinstatement of a common stock dividend, and its adoption of a performance based payout policy. Its cash dividend is at $0.30 per share, while its previous was $0.20 per share. Its new financial policy is for allocating cash flows aligned with strategic objectives for a strong balance sheet.
This financial policy allows for up to 50% of the available cash flows after capital spending and distributions to be allocated to shareholder returns and debt reduction or investments. The CEO of the company Richard C. Adkerson said, “The policy of combining a base dividend, which can be sustained in a range of market conditions, with a performance based payout framework, allows us to enhance long-term value for shareholders with a strong balance sheet, providing cash returns to shareholders reflective of market conditions and building long-term values in our undeveloped resources.” That is the latest that has come from the company.
Avino Silver & Gold Mines Ltd.
Now let’s talk about the next mining stock to watch, Avino Silver & Gold Mines Ltd. Avino is a silver company that will acquire, explore, mine, and advance various mineral properties. A majority of the company’s properties are located in Canada and Mexico. The corporation owns 42 mineral claims and leases four mineral claims. Avino also has 24 exploitation concessions in which cover about 1200 hectares of land. How has this mining stock been performing lately?
On February 16th, Avino started its 2021 drill program. The Avino property, which is over 1,104 hectares of land, has significant underexplored areas remaining on it. The President and CEO of Avino, David Wolfin stated, “Our current priorities are to focus on confirming continuity of mineralized trends in veins on the property, and test areas with known historic high grade zones that could add to Avino’s future production profile.” Now we wait to see how its 2021 drill performance is in its next quarterly report.
Turquoise Hill Resources Ltd.
The final mining stock to watch is Turquoise Hill Resources. This mining company explores for copper, gold, and silver deposits. Its main property is the Oyu Tolgoi copper-gold mine that is in southern Mongolia. In the last year, this mining stock has seen lots of positive performance. So let’s see what recent updates have come from the company.
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TRQ stock price at the moment seems to moving as a result of metal prices themselves. That is the most recent updates from Turquoise Hill Resources. Now we will see how the mining stock sector continues to perform throughout 2021.
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