Top Mining Stocks To Watch
When it comes to investing in mining stocks, there are plenty of options to choose from. This sector has been one of the fastest growing in the last year. This is due to the fact that precious metals and minerals will often increase in value during times where the dollar is slipping or the economy is bad. Obviously in the last year, this has been especially relevant. Many traders turned to mining assets when the economy tanked as a result of the pandemic. There are many different types of mining stocks in the market. The most commonly traded assets are gold and silver related. This can be anything from silver stocks to gold ETFs and more. There is also another sector that is coming up very fast in the market though. This would be lithium stocks. Lithium stocks are increasing in the market so much due to electric vehicles.
As you may know, electric vehicles are quickly becoming the future of the automobile. Most of these production vehicles feature lithium ion batteries. So as the demand for electric vehicles grows, so does the demand for lithium. Rare earth mineral mining companies are also increasing in stock price in the market. There are many choices when investing in mining stocks, so it is important to choose the sector best for you. Every sector has its ups and downs. For example, gold prices can fall if the economy begins to recover more. Or lithium prices could fall if a better battery type is found and starts being used. But these minerals have a lot of positives as well. For now, let’s take a look at four top mining stocks to watch as March 2021 continues onward.
Top Mining Stocks To Watch
- MP Materials Corp. (NYSE: MP)
- Endeavour Silver Corp. (NYSE: EXK)
- Turquoise Hill Resources Ltd. (NYSE: TRQ)
- American Resources Corporation (NASDAQ: AREC)
MP Materials Corp.
The first company on this list of mining stocks is MP Materials Corp. This is a mining company that owns and operates rare earth mining and processing facilities. The company owns the Mountain Pass facility in the Western Hemisphere. It owns the mineral rights to the mine and surrounding areas, as well as intellectual property rights. Some of its offered materials include neodymium and praseodymium. These rare earth elements in combination form neodymium-praseodymium. Let’s check out MP’s recent market performance and updates.
MP Materials has not yet released any significant updates in 2021. But this will all be changing very soon. MP has announced that it will be releasing its fourth quarter and fiscal year 2020 financial results on Thursday, March 18th, 2021. This company is the largest rare earth materials producer in the western hemisphere. So these upcoming financial results could have a very positive effect on the company.
Endeavour Silver Corp.
Now let’s talk about Endeavour Silver Corp. Endeavour is a mining company that focuses on acquisition, exploration, and development in regards to finding silver. It will also extract, process, and refine the silver metal too. This is done at two mines owned by the company that are located in Chile and Mexico. EXK stock has been a big gainer in the last year. So let’s check out the company’s recent performance and stock history.
Endeavour’s latest update was released on March 1st, 2021. This is when the corporation reported its fourth quarter and full year 2020 earnings. Endeavour’s gross sales went up 81% year over year. The CEO of Endeavour Bradford Cooke said, “Lower costs coupled with higher metal prices drove significantly higher revenues, cash flow and earnings, which turned positive for the first time in three years thanks to our very strong performance in Q4, 2020.”
Just one year ago, EXK stock was at $1.10 a share on average. The positive financials show the momentum that Endeavour truly had during 2020.
Turquoise Hill Resources Ltd.
The next mining stock to watch is Turquoise Hill Resources Ltd. Turquoise Hill is a mining corporation that explores for copper, gold, and silver deposits. Its main property is the Oyu Tolgoi copper-gold mine in Mongolia. In the last 6 months, TRQ stock price has gone up about 70% in shares. So let’s check out what has been driving this stock price increase in the market recently.
[Read More] Will These Mining Stocks Go Up In March 2021?
Turquoise Hill is actually releasing its financial results for the fourth quarter and full year of 2020 on March 8th, 2021 after the market close. During market hours on the same day TRQ stock is up 3.5%. TRQ stock price is at $14.70 a share on average on the day of its earnings. This seems like investors have a positive outlook for what this report will contain. This company performed very well in 2020, which is why investors are thinking it could be the same in the fourth quarter or even better.
American Resources Corporation
The final mining stock to watch is American Resources Corporation. American Resources supplies raw materials for the global infrastructure marketplace. Its main focus is extracting and processing metallurgical carbon that is used to make steel. A large amount of its portfolio in the Central Appalachian basin of eastern Kentucky, as well as West Virginia. Let’s look at the last mining stock to watch recent market history.
As of March 8th, AREC stock price is at $3.90 a share on average. One year ago this number for AREC stock was just about $1 a share. The company’s largest spike during this time period was in February 2021. AREC stock price reached upwards of $7.30 a share during early February. You may be thinking, this is bad because AREC stock price is much lower than that at the moment. But AREC stock price is still much higher than the price it started 2021 at.
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