Top Mining Stocks To Watch
The market for mining stocks is very volatile at the moment. It seems like there is new things affecting the sector negatively or positively every day. There are a few reasons that mining stocks have been performing so well in the market recently. The pandemic caused all types of assets to tank in value last year. Mining stocks quickly started towards recovery though.
When the economy is not performing well, investors will often put money into mining assets instead. Among the biggest consistent gainers last year were gold stocks and silver stocks. Gold and silver rapidly grew in price, which caused their subsequent stocks to do the same. Lithium stocks also had an amazing year in the market. Some have even called it a defining year for lithium stocks. Lithium-ion batteries are used in electric vehicles and electronics, which are growing markets.
Many other types of assets like steel stocks, copper stocks, rare earth stocks, and more have been trending as well. But where do things stand in 2021? The market is ever-changing, but there are a few key things to keep in mind. For one, unemployment numbers affect many materials. This is because when unemployment falls, it could potentially result in a recovery for the economy.
This could pose an issue for mining stocks. But in recent U.S. Labor Department results, unemployment numbers are still very high at the moment. This is allowed many mining assets like gold and silver to hold at key price points. There are plenty of mining stocks to keep your eye on in the market at the moment. Let’s have a look at four mining stocks that are performing well in March 2021.
Top Mining Stocks To Buy [Or Sell] This Week
- IAMGOLD Corporation (NYSE: IAG)
- Denison Mines Corp. (NYSE: DNN)
- Hudbay Minerals Inc. (NYSE: HBM)
- Comstock Mining Inc. (NYSE: LODE)
The first thing on this list of mining stocks is IAMGOLD Corporation. IAMGOLD is a mining company that explores for, develops, and operates various gold mining properties. These properties are located in The Americas and West Africa. It currently has interest in the Rosebel mine, Essakane mine, Westwood mine, Diakha-Siribaya project, and many more assets as well. Let’s check out the company’s performance as of mid March 2021 so far.
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Most recently the company announced positive results from its 2020 resource delineation drilling. This drilling took place on the Gosselin Gold Zone. The company stated it has completed 33 diamond drill holes that total 13,735 meters. This was announced back in January. Now the company is reporting final assay results from its remaining 9 diamond drill holes.
The executive VP for Growth, Craig MacDougall said, “These additional results continue to highlight the importance of this new discovery and we are now starting to demonstrate the connection of the Gosselin and Young Shannon Zones outlining mineralization over a sizable area. Our exploration program will continue to focus on the delineation of the mineralized zone targeting the completion of a maiden resource estimate later this year.”
Denison Mines Corp.
Next up on this list of mining stocks is Denison Mines Corp. Denison is a uranium exploration and development corporation. Its main project is the Wheeler River Uranium project located in the Athabasca Basin region in Saskatchewan. It has a 90% interest in this property. It will be interesting to see how it progresses in the market. Let’s see Dension’s latest updates.
Just one year ago this mining penny stock was worth 22 cents per share. Now as of March 24th, DNN stock is over $1 a share on average. On March 22nd the corporation announced closure of $86.3 million financing. This is for the strategic acquisition of physical uranium. As many know, uranium is a huge growing industry at the moment. Many uranium stocks are spiking just like DNN stock. So it seems like DNN stock has some potential in the market to perform. Now we wait to see where things move for the company from here.
Hudbay Minerals Inc.
Now let’s talk about Hudbay Minerals Inc. Hudbay Minerals is a mining company that will discover, produce, and market base and precious metals. It produces copper concentrates, containing copper, gold, and silver. Also contained is molybdenum concentrates and zinc metals. Hudbay owns three polymetallic mines, four ore concentrators, zinc production factories, and various copper projects. So what has its 2021 performance looked like so far?
On March 8th the latest update was released from Hudbay Minerals. The corporation completed the offering of $600 million 4.50% senior notes due 2026. It also redeemed $600 million of 7.625% senior notes due 2025. In other recent news it released its full year and fourth quarter operating and financial results. Hudbay achieved its 2020 production and unit cost guidance in both Peru and Manitoba. The President and CEO said, “We achieved all of our production and operating cost targets in 2020, continuing our trend of strong operating and financial performance while executing on our growth initiatives.” HBM stock price has gone from under $2 a share to above $6 a share as of March 24th.
Comstock Mining Inc.
The final mining stock to watch is Comstock Mining Inc. This corporation has been performing rather well in the market recently. Comstock Mining is an exploration, development, and production-based mining company. It primarily searches for gold and silver in the Nevada region. Comstock’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 various leased rooms, cottages, a bar, a restaurant, and a ranch. Let’s dive straight into its 2021 performance and stock price.
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Comstock and MCU recently commenced Phillipine Mercury remediation operations. Its first international remediation and extraction facility is in production as of March 23rd, 2021. Chairman and CEO Corrado DeGasperis said, “This is the first of multiple systems MCU is dedicating to clean up this entire eco-system, not only reviving the 24-kilometer river but the downstream irrigations, agriculture, and communities it previously served. The social impact is incalculable and represents the baseline for mining-related contaminations across the entire country.” LODE stock was priced at $0.42 a share just one year ago.
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