Are These Mining Stocks Performing Well?
There have been so many mining stocks trending in the market throughout 2021. These have been somewhat of a hot commodity among traders recently. There are plenty of types of mining stocks that you can potentially invest in. Let’s take a look at the most popular of these mining stocks that have seen high performance recently. The first sector of mining stocks to mention would be gold and silver.
Gold stocks and silver stocks have been some of the highest performers when it comes to mining stocks. When the economy is bad, investors turn to gold and silver as physical investments instead of the dollar. This is because the metal prices go higher when the dollar slips and or the economy is bad. Both gold and silver achieved new record high prices per ounce in 2020. While these prices have fallen a bit in 2021 so far, we are still at the beginning of the year.
Mining stocks are rather volatile at the moment, but smart investing can bring great things. Another mining niche is one with assets that relate to lithium stocks. Lithium stocks have been performing well because of lithium-ion batteries. Lithium-ion batteries are used in electric vehicles. EVs have been one of the biggest sectors in the last year, with companies like Tesla shooting up in stock price.
So many lithium stocks have reached new highs in 2021 as a result of this. There are other types of mining assets like copper, uranium, steel, and more. No matter which sector you invest in, many of them have strong momentum. Let’s take a look at four mining stocks to keep your eye on as mid-March passes by us.
Top Mining Stocks To Watch
- Hecla Mining Company (NYSE: HL)
- Paramount Gold Nevada Corp. (NYSE: PZG)
- IAMGOLD Corporation (NYSE: IAG)
- MAG Silver Corp. (NYSE: MAG)
Hecla Mining Company
The first mining stock on this list is Hecla Mining Company. Hecla is a corporation that focuses on the discovery, acquisition of land, development, and production of precious metals and base metal properties. It mainly offers unrefined gold and silver bullion bars, lead, and zinc. Currently, Hecla owns 100% interest in many mines, including the Greens Creek Mine, Lucky Friday Mine, and Casa Berardi mine. So how is Hecla performing in March?
On February 18th, Hecla reported its full-year 2020 results. Included in this was the report of record annual revenue for the company. Its silver production rose 7%, while gold fell 23% from the previous year, its record high. The President and CEO of the company, Phillips S. Baker Jr., said, “We saw modest disruptions in Quebec and Mexico; however, these did not materially impact our business. During the year, we refinanced our long-term debt now due in 2028, and through solid free cash flow generation, added cash to the balance sheet, reduced our net debt, and increased dividends.”
HL stock price has gone from $1.60 a share to $6.60 a share on average in the last year as of March 15th, 2021. This is why HL stock has made this list of mining stocks to watch.
Paramount Gold Nevada Corp.
Next up on this mining stock list is Paramount Gold Nevada Corp. Paramount Gold Nevada Corp is a gold company that acquires land, explores, and develops precious metal properties. Its properties are all located in the United States in Nevada and Oregon. It holds an interest in the Sleeper gold project and the Grassy Mountain gold project. Together these projects have more than 2700 unpatented claims. What does Paramount’s performance look like in March 2021?
PZG stock started the year at $1.19 a share on average. As of March 15th, PZG stock price is at $1.12 a share on average. This is after a dip in the last month, but in the last 5 days, PZG stock has moved upwards. On March 15th, PZG stock is up 2.3% to $1.12 a share on average. If the company has upcoming financial results or mine updates, it can affect the price of this gold stock. But PZG stock is likely moving as a result of the price of gold itself at the moment.
Now let’s talk about IAMGOLD Corporation. IAMGOLD is a mining company that explores, operates, and develops a variety of mineral properties. The company’s assets are located in North America, South America, and West Africa too. It normally looks for gold but also has interest in other assets like silver too. IAMGOLD owns the Essakane mine, Westwood mine, Roebel mine, and others. So how has it performed in the market recently?
[Read More] Top Gold Stocks To Watch This Week
One year ago, IAG stock was at $2 a share on average. Now, as of March 15th, 2021, IAG stock is at $3.30 a share on average. This increase in stock price comes as gold prices have gone much higher in the market. At one point in 2020, IAG stock reached around $5 a share on average. But as gold prices have pulled back, so has the price of IAG stock. In the last 5 days, though, IAG stock has gone from $3.11 a share to $3.30 a share as of March 18th. It will be interesting to see its future performance in the market.
MAG Silver Corp.
The final mining stock to watch is MAG Silver Corp. MAG Silver is a company that obtains land, explores it, and progresses mineral properties. The company’s minerals searched for are silver, gold, lead, and zinc deposits. It currently has a 44% interest in the Juanicipio project in Mexico. This project is nearly a split venture with Fresnillo plc. So how is MAG Silver performing in March 2021?
More recently, the company reported its fourth-quarter production from Juanicipio. George Paspalas, the President and CEO, stated, “We’ve now successfully milled close to 73,000 tonnes of development material at the Fresnillo plant since early August of 2020, generating cash-flow to help offset CAPEX and gaining valuable metallurgical understanding at the same time.”
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