Will These Mining Stocks Rise Up?
Mining stocks have been a hot commodity in the market recently. In 2020, these assets drastically grew in size. Let’s first talk about gold stocks and silver stocks. As the more “mainstream” mining stocks, a lot of attention was put on to them. Gold price skyrocketed a few months after the pandemic started. It caused gold prices to reach new all time highs in the market. As a result, gold stocks followed suit.
This brought many new eyes to the precious metal. The reason for the uptick was the increased amount of investors in gold instead of the dollar. Gold tends to perform well when the economy is doing bad. For similar reasons, silver stocks performed well too. But silver stocks had another interesting thing happen to them. Reddit retail traders caused a huge one day uptick for silver that quickly fell short.
But the retail traders brought a lot of new attention to silver. Steel stocks have also been performing well in the market. This is due to rising prices and world news. No matter what type of mining stocks you are looking for there are plenty of assets that are potential options. In 2021, these assets are still moving in the market. There is a variety of things affecting mining stocks at the moment.
One of them is the pandemic itself, which is still roaring on despite the vaccines. Fewer cases are being reported, but the virus and the fear are still out there. So economic recovery is not looking likely in the near future. Let’s look at four mining stocks that are performing well in the market as of March 2021.
Top Mining Stocks To Watch
- Northern Dynasty Minerals Ltd. (NYSE: NAK)
- United States Steel Corporation (NYSE: X)
- Cleveland-Cliffs Inc. (NYSE: CLF)
- Arch Resources Inc. (NYSE: ARCH)
Northern Dynasty Minerals Ltd.
The first company on this list of mining stocks is Northern Dynasty Minerals Ltd. This company explores different mineral properties located in the United States. Its main mineral property is the Pebble copper, gold, and molybdenum project that has 2402 mineral claims covering 417 square miles. This project is located in southwest Alaska. So what has Northern Dynasty Minerals company progress and stock price looked like in 2021?
The latest update is form March 11th. This is when it announced it will present at the Q1 Virtual Investor Summit. This summit presentation is likely to take place on March 25th. In addition to this news, NAK stock price has gone up quite a bit in 2021 so far. At the start of the year NAK stock price was at $0.35 per share on average. Now on March 24th, NAK stock has reached $0.63 a share on average. Despite NAK stock being on a downwards trend in the last week, the company still shows lots of potential in the market.
United States Steel Corporation
Next up on this mining stock list is the United States Steel Corporation. The company produces and sells flat-rolled and tubular steel products. Its products are mostly sold in North America and Europe. Its flat rolled product section sells slabs, strip mill plates, sheets, and more. The company has a variety of other products in its lineup as well. In the last year this company has seen a significant amount of momentum. So what has X stock been up to in the last few months?
At the recent Ceres 2021 conference, U.S. Steel made its newest announcement. It confirmed major near-term expansion sustainability of commitments. The President and CEO of the company, David B. Burritt said, “We’re changing our portfolio of steelmaking technologies. Creating something new, steels that are best for our customers and best for our planet. Together we can build a sustainable future.” The company also unveiled its new sustainable steel product line called verdeX.
The next mining stock to watch is Cleveland-Cliffs Inc. Cleveland-Cliffs is an iron ore mining company operating in the US, Canada, and in other places as well. Its main sections of the company are mining, pelletizing, and metallic. It operates three iron mines, the Tilden mine, Northshore mine, and United Taconite mine. Cleveland-Cliff’s products are used to produce blast furnace steel, flat rolled carbon, stainless, and electrical steel products. The steel products are used in the automotive, infrastructure, and manufacturing markets. Let’s check out its March 2021 performance in the market so far.
Back in late February the company released its fourth quarter earnings and revenue. Analysts expected adjusted earnings at 28 cents per share, but were at 24 cents per share. But its revenue did shoot up more than four fold year over year. It still did not meet all estimates though. Cleveland-Cliffs recently purchased all of ArcelorMittal USA which was a huge acquisition for the company. This is part of the reason the company was able to perform so well in the market.
Arch Resources Inc.
The final company on this list of mining stocks is Arch Resources Inc. Arch produces and sells metallurgical and thermal coal from surface and underground mines. The company actively operates seven mines as of March 2021. In addition to this it owns or controls 28,292 acres of coal land in Ohio, 81,470 acres of land in Wyoming, and many other states as well. Its products are sold to utility, steel producers, and industrial companies all over the world. Let’s check out the corporation’s 2021 performance so far.
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Last month Arch reported its fourth quarter 2020 results. This included it maintaining operational excellence in the core metallurgical segment. The company was able to perform well despite the pandemic. The CEO and President, Paul A. Lang, had this to say about the progress, “Through our team’s significant efforts, we have laid the foundation for robust value creation as the world recovers from the pandemic, the economic rebound continues, and the global transition to a low-carbon economy advances.”
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