These Mining Stocks Are Showing High Performance
When it comes to mining stocks, the last year was unexpected to say the least. Things were going normally for these types of assets for a while before the pandemic happened. That was until the pandemic started and destroyed the economy. One month after the stock market tanked, mining stocks started to take off in value.
This resulted in metals like gold and silver reaching new record highs. There are many types of mining stocks that are trending in the market. The most commonly traded assets in this sector are gold stocks and silver stocks. But there are many other types of mining stocks that have been high performing in the market recently.
One example of this is lithium stocks, which have been huge market gainers. This is as a result of the growing electric vehicle market that uses lithium ion batteries. Another market impacted by electric vehicles are copper stocks. Copper stocks have seen growth due to the increased usage in EVs. There are also rare earth mining stocks, steel stocks, and many other types. I’m not sure if many would refer to mining stocks as reopening stocks at the moment.
Considering these assets already had a massive uptick throughout 2020 they do not reach that category. In 2021, there are still many mining stocks increasing in value in the market. Prices for precious metals like gold and silver have pulled back, but other markets are still going up. With that being said, there are plenty of gold and silver related mining stocks that are starting to go back up in price.
Top Mining Stocks To Buy Or Sell
- Newmont Corporation (NYSE: NEM)
- Hecla Mining Company (NYSE: HL)
- Fortuna Silver Mines Inc. (NYSE: FSM)
- Pan American Silver Corp. (NASDAQ: PAAS)
This first mining stock has had its share of ups and downs in the market recently. Newmont Corporation is a mining company that primarily produces and explores for gold, silver, copper, lead, and zinc. The company operates at land in the United States, Mexico, Canada, Peru, and more. There have been a few driving factors for this mining stock moving in the market at the moment.
On April 1st, Newmont announced its first quarter 2021 earnings call. This call will be taking place on Thursday, April 29th. In addition to this recent news the company had some more updates. On March 30th, the company announced a sustainability-linked revolving credit facility.
The $3 billion facility includes a pricing freature based on third party sustainability performance measures. The President and CEO of the company Tom Palmer said, “Our sustainability-linked credit facility further demonstrates Newmont’s unwavering commitment to industry-leading environmental, social and governance (ESG) practices.”
Hecla Mining Company
In the last 5 days, this mining stock has performed well in the market. So what does Hecla Mining Company do? Hecla is a corporation that focuses on the discovery, acquisition of land, development, and producing of precious metals and base metal properties. It mainly offers unrefined gold and silver bullion bars, lead, and zinc. Currently Hecla owns 100% interest in many mines including the Greens Creek Mine, Lucky Friday Mine, and Casa Berardi mine.
Hecla’s President and CEO Phillips S. Baker Jr spoke at the Extractive Industry Investment Options Virtual Conference. This presentation was called Sailver: The Technometal – New Demand, New Policy, New Future”. The company’s latest full year 2020 and fourth quarter results showed positive performance. Its silver production increased by 7% and was the second highest in its history ever. The CEO and President of Hecla stated, “Despite the challenges of operating during the pandemic, 2020 marked a year of very strong operational performance with silver production significantly exceeding guidance.”
Fortuna Silver Mines Inc.
This is another mining stock that has increased a lot in the last 5 days. FSM stock price hjas gone from $6 a share to $7 a share as of April 6th. Fortuna Silver Mines is a mining corporation that explores, extracts, and processes different precious metals. Actively, the company searches for silver, gold, zinc, and lead deposits. Its main property is the Cayloma mine and San Jose mines. It additionally runs the Lindero Gold Project.
On March 30th, Fortuna filed its form 40-F. This includes its fiscal 2020 annual report, that is now with the U.S. Securities and Exchange Commission. Fortuna recently intersected of 1.93 kilos of silver and 6.76 g/t gold over 5.4 meters at the San Jose Mine. “In 2020, our exploration team at San Jose focused on re-evaluating their understanding of the structural and geological controls on mineralization at the Trinidad Deposit with the goal of identifying new near-mine exploration targets.” In the last year FSM stock price has seen significant progress.
Pan American Silver Corp.
The last mining stock to discuss is certainly not the least. Pan American Silver Corp focuses on the exploration, development, extraction, processing, refining, and reclamation of silver mines. It operates these mines in Canada, Mexico, Peru, Argentina, and Bolivia. The company additionally sells and produces gold, zinc, lead, and copper. Because of an upsurge of silver, Pan American topped its last fourth quarter profits.
[Read More] Top Silver Stocks To Watch Mid March
In the last 5 days PAAS stock has seen a lot of positive market performance. It was at $29 a share on March 30th, and on April 7th it is at $32 a share. Despite ups and downs, PAAS stock is still up in the last month. Much of its performance can be attributed to the current price of silver. Silver is currently holding above $25 per ounce. As the world continues to change and the economy potentially leads towards recovery. In regards to its future performance this year, President and CEO Michael Steinmann said, “We are expecting a 35% increase in silver production relative to 2020 and record gold production in 2021, despite our assumption that COVID-19 will continue to have an impact on operations.” That is the latest that has come from Pan American Silver.
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