These Mining Stocks Are Trending Upwards
The market for mining stocks has dramatically changed in recent history. When the pandemic struck last year, mining stocks exploded in value as material prices increased. Among these assets, the most popular and commonly traded are usually gold stocks and silver stocks.
There are plenty of mining sectors to invest in when looking to make a profit. Companies that are steel stocks have seen a particular increase in stock price. Part of this is connected to the increased demand for steel and iron ore at the moment. Another mining sector making the rounds are lithium stocks. Electric vehicle popularity has caused lithium stocks to see a dramatic stock price increase in the market recently. EVs use lithium-ion batteries in most if not all current production models.
For similar reasons as lithium, copper stocks have also performed well. Copper is one of the principal materials used when making an electric vehicle. Pounds of the metal are used when making just one of them.
There are many candidates to choose from when investing in mining stocks. Putting together an investment plan can help a lot with the process. This includes looking at the volume, filings, news, rumors, and more about a company before investing. When treading carefully, it can make it easier to make money with mining stocks.
This market is still growing rapidly, so it can be a good place to invest if doing it correctly. It will be interesting to see how these sectors evolve in the future. For now, let’s look at three mining stocks that are among the top-performing right now.
Top Mining Stocks To Watch
- ArcelorMittal (NYSE: MT)
- United States Steel Corporation (NYSE: X)
- American Battery Metals Corporation (OTC: ABML)
If you’ve followed trending mining stocks then you’ve certainly heard of ArcelorMittal. If not, let’s get you up to speed. The company owns and operates various steel manufacturing and mining facilities. Its steel products include slabs, coils, sheets, and billets. Some recent attention on the company has stemmed from an investment agreement with Invitalia earlier this month. This deal forms a public-private partnership.
Invitalia has put 400 million euros of new equity into AM InvestCo Italy, ArcelorMittal’s subsidiary. This agreement also stipulates a second equity injection by Invitalia of up to 680 million euros. In addition to this update, the company announced the publication of the 2020 statutory financial statements of the parent company on April 15th. If you look at MT stock’s 1-year chart, the potential seems obvious. MT stock has gone up about 200% in the last year.
United States Steel Corporation
Among the high performing mining sectors are steel stocks. The United States Steel Corporation is one of the highest volume steel stocks on the NYSE. USSC 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, and sheets. There are a few reasons that this company is performing higher in the market recently.
Part of this has to do with rising steel and iron prices. But on April 21st, United States Steel Corporation announced a goal of achieving carbon neutrality by 2050. Sustainability is often something that will interest investors, because it shows the company is willing to evolve and change to meet the world’s current standards. It will leverage its increased usage of electric arc furnaces, reduced iron, carbon free energy sources, and more to achieve this feat.
President and CEO David B. Burritt said, “We are dedicated to producing the steels that are essential to our daily lives and innovating to solve the challenges our customers face. Climate change is the challenge of this generation and doing our part is a core component of our ‘Best for All’ strategy for profitable growth.”
Currently the American Iron and Steel Institute predicts that for every $1 billion spent on infrastructure, metal producers will need to put out 50,000 tons of steel. This shows that the demand for the metal is very real. The next company update will be put out on April 29th, so we will see what its first quarter financial results for 2021 hold.
American Battery Metals Corporation
Battery technology has been a constant grower in the market due to the advancement of technology. Now the focus has been on battery technology in electric vehicles due to their popularity. These EVs rely on batteries for their power. So company’s that mine for battery metals such as lithium are seeing a lot of high market performance. American Battery Metals Corporation, as implied in its name, explores for mines, extracts, and recycles battery metals. It currently owns 647 mines on 13,000 or more acres of land.
ABML just continues to release update after update and it is helping the volume go up. On April 21st and 22nd, the COO Menka Sethi is speaking at ESA’s Virtual Energy Storage Conference & Expo. The company will also present at the Benzinga Cleantech Small Cap Virtual Conference on April 22nd, aka Earth Day. ABML just established a common stock equity agreement for up to $75 million with an institutional investor. Chief Technology Officer Ryan Melsert noted this as a “Major milestone for our Company as we move through the construction and commissioning of our lithium-ion battery recycling pilot plant over the coming months.”
On April 13th the company announced it has retained the Ashcroft Firm in its hiring. So it is clear that this lithium stock is making a lot of progress and advancements, so many that we can’t even touch on all of them in this article. On April 21st, ABML stock price went up 30%.
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