Will These Mining Stocks Rise Up In February?
There have been so many mining stocks increasing in price throughout the stock market. This has occurred on a much larger scale in the last year. This has to do with resource prices going up due to scarcity during the pandemic. Often investors will look at gold and silver as better investments than the dollar during economic crisis’s. So it is no surprise that the events that have taken place in the world recently have resulted in these types of stocks increasing in price. Many gold and silver stocks peaked in mid 2020 when both resources reached new record highs in the market. Now gold prices are at about $1800 per ounce and silver prices are at $27 per ounce on average. These prices are still much higher than their pre pandemic counterparts.
But gold and silver stocks are not the only type of mining stocks that are performing well in the market. Lithium stocks have also seen high performance in the last year and even longer as well. Lithium is used to create lithium ion batteries. These batteries are used in a ton of technology products. More notable, lithium ion batteries are being used in electric cars for companies like Tesla Inc. As you know, Tesla stock has skyrocketed in the last few years. As electric cars grow in popularity, so do the lithium companies providing the minerals to be used in their batteries. Some lithium stocks have doubled or even tripled in stock price in the last year. Another high performing sector in the market is rare earth mining stocks. With so much to choose from it can get confusing when investing in mining stocks. So let’s take a look at four mining stocks that have shown high performance and have market potential.
Top Mining Stocks To Buy Or Sell
- American Resources Corporation (NASDAQ: AREC)
- MP Materials Corp. (NYSE: MP)
- Comstock Mining Inc. (NYSE: LODE)
- ArcelorMittal (NYSE: MT)
American Resources Corporation
First up on this list of mining stocks to watch is American Resources Corporation. American Resources Corporation is a company that will supply raw materials for the global infrastructure marketplace. American Resources will extract and process metallurgical carbon that is used in steelmaking. This rare earth mining company has experienced a lot of positive growth in the last year. Now let’s have a look at how its 2021 performance has been so far.
On February 16th, the company announced an exclusive rare earth mineral processing license and graphene patents from Ohio Univesity. The creator of the patents, Dr. Geradine Botte stated, “These patents and further work we are conducting with electrolysis lives at the heart of the “Process” stage of American Rare Earth’s “Capture-Process-Purify” technology chain that we have been building as a company.”
MP Materials Corp.
Next up on this mining stock list is MP Materials Corp. MP Materials is a mining company that owns and operated rare earth mining and processing facilities. The company owns the Mountain Pass facility, and owns the mineral rights to the Mountain Pass mine and surrounding area. It also owns intellectual property rights in relation to the processing and development of different rare earth minerals. MP Materials sells neodymium and praseodymium as its products. So how is MP Materials performing in 2021 so far?
The latest update from MP Materials was released on February 8th, 2021. This update was MP Materials announcing the time that it will release its fourth quarter and fiscal year 2020 financial results. The results are expected to be released on Thursday, March 18th, 2021. This could likely be when the next big upwards or downwards movement for MP Materials is shown. In the last month, MP stock has gone from $32 a share on average to over $40 a share. So it will be interesting to see how these upcoming results will have an impact on this rare earth mining stock.
Comstock Mining Inc.
Now let’s talk about Comstock Mining Inc. Comstock Mining is an exploration, development, and production based mining company. It primarily searches for gold and silver in the Nevada region. The company’s two segments consist of mining and real estate. Its mining section owns 9,300 rough acres of mining claims and parcels. Its real estate section has a variety of leased rooms, cottages, bar, restaurant, and a ranch. So what has the company been up to in 2021 so far?[Read More] Are These Mining Stocks Due For A Bounce?
Comstock announced its 2020 achievements and other recent progress. The CEO of the company Mr. Corrado De Gasperis said, “We sustained all of our scheduled cost reductions and subsidies, repaid our senior secured debt and implemented our realignment objectives in 2020, positioning ourselves for new, high-growth, activities.”
The company also recently announced transactions securing the rights to a majority equity stake in LINICO Corporation, a lithium-ion battery recycling company who recently acquired a state-of-the-art battery metal recycling facility from Aqua Metals, Inc.
The final mining stock to watch is ArcelorMittal. ArcelorMittal is a mining company that owns and operates various steel manufacturing and mining facilities. Its facilities are located in Europe, the Americas, Asia, and Africa. The company’s steel products are slabs, coils, sheets, billets, and more. ArcelorMittal’s mining products include iron ore lumps, concentrates, pellets, and more. These products are primarily sold to companies in the automotive, engineering, construction, machinery, and energy industries. Let’s dive into its 2021 performance.
On February 14th, ArcelorMittal announced a share buyback program. This is related to the company selling 40 million common shares of Clevelant-Cliffs for $652 million. The shares are intended to meet the company’s obligations under debt, and or reduce its share capital.
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