These Mining Stocks Show Potential
One sector that has taken off in recent times is mining stocks. Mining stocks are notorious for moving with the price of metals themselves. When the pandemic started last year, the price of mining stocks fell down quite a bit. That was until investors realized the value of the assets. This is when the sector for mining stocks began rapidly increasing in value. One thing that often impacts the price of mining stocks are U.S. weekly jobless claims. The reports are released by the U.S. Labor Department, and just so happened to be released again on the 25th. The reports were at about 730,000 new filings, which was a decrease.
But regardless of if this was a decrease or not, unemployment numbers are still very high in 2021. The last month has been proof that mining stocks are still able to perform in the market. Some analysts think that the rise of mining stocks is no more. Yet, there are many company’s reporting positive advancements and seeing their stock price increase in the market. 2020 has showed us that the stock market is an extremely volatile place at the moment. In recent history, analysts have not been more stumped when it comes to making predictions.
When it comes to investing in mining stocks you have many options to choose from. There is the most commonly traded, gold stocks and silver stocks. There is also sectors that have been booming recently such as lithium stocks and copper stocks. While the market continues to shift and change, mining stocks and mineral prices do as well. These mining stocks could potentially make your investment list based on how you feel about the recent performance of the companies.
Top Mining Stocks To Watch
- Galiano Gold Inc. (NYSE: GAU)
- ArcelorMittal (NYSE: MT)
- MP Materials Corp. (NYSE: MP)
- Equinox Gold Corp. (NYSE: EQX)
Galiano Gold Inc.
Some mining stocks can trend downwards for a while and then start to see some upside. This first mining stock, Galiano Gold Inc. is a great example of this occurrence. This company will engage in the exploration, development, and production of gold assets. In 2021 so far, GAU stock price has had its fair share of ups and downs.
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There are many things that can affect a company’s stock price. One impacting report can be financial and operating results that are released quarterly and yearly. Galiano just reported its Q4 and full year results on March 11th. This is likely what is driving its current stock performance. The company exceeded its original annual production guidance throughout the year, and reported record earnings as well. In regards to its production, CEO Greg McCunn said, “The AGM exceeded annual production guidance for a second consecutive year, generated record operating cash flows, and executed on a number of exploration programs with promising results at Nkran, Akwasiso and Miradani North.”
In other news Galiano reported positive drilling results from its Miradani North phase 3 project. The mineralization has shown to extend a depth of 250m and still open at the project.
Let’s now talk about a company that is currently right at its one year high in stock price. If you’ve had your eyes on the market, you already know about ArcelorMittal. This is the mining corporation that specializes in steel manufacturing and mining facilities.
MT stock was already increasing in price throughout most of 2020. Then things changed on December 9th for ArcelorMittal. On this day, Cleveland-Cliffs Inc. completed a full acquisition of ArcelorMittal. By purchasing ArcelorMittal and all related assets and interests, the total consideration was approximately $183 million.
ArcelorMittal has also had a lot of advancements this month as well. The company recently announced the offering of green certificates to customers that will pay a premium for low carbon steel. The company plans to eliminate its net CO2 emissions by 2050. Now that it has stepped up its carbon neutral push, it can be positive for the company. So ArcelorMittal launched XCarb, which is a carbon neutral steel offering customers Scope 3 emissions reductions.
MP Materials Corp.
Now we’re going to talk about a very different type of mining stock, MP Materials Corp. This is a company that engages in rare earth mining and processing. It holds many properties related to developing these rare earth minerals, such as neodymium and praseodymium.
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MP Materials stock has been increasing in value for the last year. There is one announcement specifically that is impacting the corporation at the moment. On Tuesday, MP Materials announced the $600 million pricing of its green convertible senior notes offering. This comes just 8 days after MP released its fourth quarter and full year 2020 results. MP stock is increasing due to the company’s great performance. Its revenue grew 100% year over year in the fourth quarter alone. Its net income increased 23.3x year over year as well.
Equinox Gold Corp.
In 2020, this last mining stock was able to reach new record highs in the market. Equinox Gold Corp. acquires, explores, and develops mineral deposits for gold. Equinox announced on March 24th that it will be holding its annual meeting and corporate filings soon. The release will take place on Wednesday, May 5th, 2021. In 2020, EQX stock nearly reached $13 a share on average.
While EQX stock has pulled back from its 2020 highs, it is still performing well in the market. Back in February, Equinox acquires 10% of the Hardrock Project in Ontario, making its total stake 60%. When the new filings and annual meeting take place, it is likely when the next momentum could be seen for EQX stock. Often EQX will move based on the price of gold itself, which has been around $1,700 per ounce for a few weeks now.
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