Top Mining Stocks For Your Watch List
The sector for mining stocks seems to have no end in sight for progress. With sectors such as lithium stocks growing exponentially in the last few months, there is a lot of potential here. 2021 has its own set of difficulties for mining stocks though. This could be the time where the pandemic ends. Cases are rapidly falling at the moment. If you know why mining stocks have done so well recently you know this is bad news for the sector.
Gold, silver, and more prices increased in value when the dollar and economy crashed. People often turn to mining stocks during those times. This doesn’t mean that the end is near for the mining stock rally though. Every week the U.S. Labor Department releases new jobless reports. Recently they either go up a bit or back down a bit. Since unemployment is staying relatively high, gold and silver for example are staying high as well.
Although the prices for metals have fallen in 2021, they are still holding key positions in the market. Steel, copper, uranium, lithium, gold, silver, and more are all sectors you could consider when investing in mining stocks. On March 19th, gold ignored the 10 year U.S. Treasury yield reaching its 14 month high. The price of gold was up more than 1% on the week during the day of the 19th. With so many things affecting the price of mining stocks it is important to stay up to date on the latest in the sector. This can be world news, sector news, company news, and more. Let’s check out four mining stocks that are performing well in the market in March 2021.
Top Mining Stocks For Your Watch List
- Platinum Group Metals Ltd. (NYSE: PLG)
- Range Resources Corporation (NYSE: RRC)
- Kinross Gold Corporation (NYSE: KGC)
- Silvercorp Metals Inc. (NYSE: SVM)
Platinum Group Metals Ltd.
First up on this list of mining stocks is Platinum Group Metals Ltd. Platinum Gorup will acquire, explore, and develop platinum and palladium properties. But it also searches for rhodium, gold, ruthenium, iridium, copper, and nickel deposits. It actively holds 50.02% interest in the Waterberg project that is located in South Africa in the North Limb of the Western Bushveld complex. Let’s check out the most recent updates from the corporation.
On February 18th the company announced positive results from its annual general shareholder meeting. The meeting had a turnout of 62.30% of the issued shares held by the people in attendance. Its last financial update was February 5th when it announced an equity distribution agreement with BMO Capital Markets Corp. This is for Platinum to sell its common shares in the capital from time to time for up to $50 million USD. In the last 6 months, PLG stock price has nearly doubled.
Range Resources Corporation
Now let’s talk about Range Resources Corporation which is performing well in the market. Range Resources is a natural gas and oil company located in the United States. It will explore, develop, and acquire many natural gas and oil properties. As of December 31st 2019, the company owned and operated 1,272 net producing wells and 833,000 net acres under lease in the Appalachian region. It also has 409 net producing wells and 105,000 net acres under lease in the North Louisiana region. Its products are sold to NGLs, midstream, industrial, and natural gas processing companies. So what has RRC been up to in March 2021?
RRC stock is at $10.40 a share as of March 19th. On this day, the resource company grew nearly 9% in stock price. Range Resources is currently dealing with a class action about misleading statements and more. Yet still, the company’s stock performance is going up. It will be interesting to see how the company performs throughout 2021, and the outcome of the suit. We will likely know the latest from this on May 3rd, which is the lead plaintiff deadline.
Kinross Gold Corporation
This is a mining company that currently will explore for land, acquire land, and develop gold related assets on its properties. Kinross has operations in the United States, Canada, Russia, and many other countries. Additionally, Kinross extracts and processes gold ore. Then it will produce and sell the precious minerals. The large company currently has 24.3 million ounces and 55.7 million ounces of proven and probable gold and silver. So how is the company performing before April 2021 arrives?
Back in February the company released earnings that beat estimates. Its profits were $783.3 million or 62 cents per share. This was up from $521.5 million or 41 cents per share the previous year. Its earnings were at 27 cents vs 22 cents by estimators. That is why the company has seen positive performance in 2021 so far. In the last month, KGC stock is in the green.
Silvercorp Metals Inc.
The final company on this list is Silvercorp Metals Inc. Silvercorp acquires, explores, and mines at different mineral properties. All of its assets are located in China. Its exploration materials in target are silver, gold, lead, and zinc. The company owns interest in many projects such as the Ying project in Henan Province, China. So what has the company’s recent performance in 2021 been like so far?
[Read More] Top Mining Stocks To Watch Mid March
Its most recent update was on February 9th. The company announced the renewal and extension of its mining license. This is for the TLP, LME, and LMW mines in the Ying Mining District. This renewal will last 20 years by the Department of Natural Resources in Henan Province, China. Its last earnings missed estimates which is why it is down at the moment. But as metal prices change in the market, SVM stock has the potential to change that.
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