These Are The Best Potential Mining Stocks To Watch
There have been a lot of mining stocks to watch as time has progressed in the last year. Mining stocks were going to have a seemingly normal year in the market until the pandemic arrived. The global pandemic caused many mining stocks to fall down in price at first. But by the time mid 2020 came around, mining related assets were poised to perform better than ever.
Some of the largest gainers when it comes to this were gold stocks and silver stocks. Gold and silver prices reached new all time highs in 2021. This is not the only type of mining asset that received a large price bump in 2020 and early 2021, but we will get into all of that. What type of things are impacting the sector at the moment you may ask? The first of which, are unemployment reports.
These weekly reports often have an effect on how certain mining stocks will move in the market. Despite rapidly falling COVID cases in the United States unemployment is still very high. As a result this is allowing the price of many mining stocks to remain higher. But what about mining stocks such as lithium stocks? Well lithium stocks are going up as a result of lithium ion batteries being used in electric vehicles.
As a result these mining stocks are not always affected by the same things that impact gold and silver for example. There are many types of mining stocks to watch whether it be gold, silver, lithium, copper, steel, and more. It is important to stay up to date on which sector is performing the best. Let’s have a look at a few mining stocks in March 2021.
Top Mining Stocks To Buy Or Sell
- SSR Mining Inc. (NASDAQ: SSRM)
- PolyMet Mining Corp. (NYSE: PLM)
- Agnico Eagle Mines Limited (NYSE: AEM)
SSR Mining Inc.
First up on this list of mining stocks is SSR Mining Inc. SSR Mining is a resource company that acquires land, explores it, develops it, and operates metal resource properties as well. Primarily, SSR will search for gold and silver deposits. Some of its projects include the Marigold mine that is located in Humboldt, Nevada, the Seabee Gold Operation in Canada, and the Puna Operations in Argentina. Let’s check out how the company is performing in March 2021 as we continue through the month.
On February 17th, a big update came from SSR Mining. The company reported its fourth quarter and full year results for 2020. The President and CEO Rod Antal said, “We exited 2020 with strong operational and financial momentum across all four of our operating assets. The fourth quarter represented the first full quarter following the completion of the Alacer merger, and the results demonstrated the strength of the business with 220,000 gold-equivalent ounces produced at $976 per ounce AISC and $157 million in free cash flow.” The performance the company experienced this quarter was record breaking for SSR.
PolyMet Mining Corp.
Now let’s talk about PolyMet Mining Corp. PolyMet Mining is a mining company primarily operating by exploration and development of natural resource properties. Its main mineral property is the NorthMet project situated in Minnesota. The project seeks copper, nickel, cobalt, gold, silver, and platinum group metal mineralization. Let’s check out what it has been up to in the market recently.
On March 4th, the latest update came out from the company. The U.S. Environmental Protection Agency filed a voluntary motion to remand its downstream water quality decision for the clean water act. The science shows PolyMet’s project doesn’t have downstream water quality effects. The company plans to participate fully with the EPA and believes that science will prevail in the case. On the day of March 17th PLM stock price is up 3.50%.
Agnico Eagle Mines Limited
The final mining stock to watch is Agnico Eagle Mines Limited. Agnico Eagle Mines is an exploration, development, and production mineral properties company. It runs operation properties in Canada, Mexico, and Finland. It will produce and sell gold deposit, as well as silver, zinc, and copper deposits. There have been plenty of new updates for the company recently.
The company’s sales disappointed investors because of higher costs. This initially caused AEM shares to fall 6%. Its net income declined year over year as well. But its earnings per share were at $0.84, higher than the $0.65 expected.
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