These mining stocks could go up before next month arrives
Throughout May 2021, there have been many mining stocks that are trending in the market. One of the main reasons this is happening is because of reopening. The United States is reopening fast, with most places having no restrictions for vaccinated people by June 15th. Many places in the United States already do not have any restrictions at the moment.
Because of reopening, the mining industry is performing well. This is amid increased retail sales for metals like gold and silver. This also has to do with increased industrial use of all types of materials. As reopening furthers the industrial sector is making a huge comeback at the moment.
Is there a proper way to invest in mining stocks? There are definitely a few things you can do to help. Keep a few key things in mind when looking to invest in mining stocks. The first is the recent news in the sector. Whether it’s earnings season or not, staying up to date on mining news will be important. Also important when investing is world news because it has a greater effect than one might think.
Even though the market is rather volatile at the moment, there are still plenty of mining stocks to watch. It will be interesting to see how the sector advances in the future. While the pandemic continues to grow in other places, the U.S. is seeing a lot of great recoveries right now. As this continues and prices for materials like gold, silver, copper, iron, and more rise in the market, there are plenty of mining stocks to watch. Let’s take a look at three that are performing well in the market at the moment.
Top Mining Stocks To Buy Or Sell
New Gold Inc. (NYSE: NGD)
When talking about mining companies, New Gold Inc. is a mining penny stock. This is a company that develops mineral properties all over Canada and Mexico. It actively mines for gold, silver, and copper deposits at its locations. New Gold holds interest in the Afton, Rainy River, and Cerro San Pedro mines among others. So what has this company been up to in the market recently?
On May 25th the company announced the receipt of the New Afton B3 Mines Act permit. This permit enables mining of the B3 zone, and was issued by the ministry of energy, mines and low carbon innovation. The President and CEO of the company, Renaud Adams said, “This is a significant milestone for the New Afton Mine. With the receipt of the B3 permit, ore extraction activities will begin this quarter and ramp-up over the year. C-Zone development continues to advance with C-Zone extraction expected to begin in the second half of 2023.”
The company also recently delivered its first quarter results. Its operations are ramping up and its mines are delivering according to plan. Now we will see how the company performs as the price of gold increases. Recently gold prices almost reached past $1,900 per ounce for the first time in months. With this in mind, will you invest in NGD stock on your watchlist?
Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold is a mining company that explores, discovers, develops, acquires land, produces, and sells minerals. Its primary products include gold, silver, lead, zinc, and iron ores. Eldorado operates the Kisladag and Efemcukuru mines. Its properties are all located in Canada, Greece, Romania, Brazil, Canada, and more. What things are causing EGO stock to move up or down in the market?
EGO stock is moving upwards with the price of gold itself. Gold rallied near $1,900 per ounce for the first time in months on May 25th. On the 26th, it slightly fell but not on any drastic scale. Let’s see what the company has been up to as well, because this also affects its stock price in the market.
Its latest significant update was in the form of its first-quarter financial and operational results. Eldorado’s gold production is in line with its annual guidance. Its adjusted EBITDA, free cash flow, and many other statistics all increased year over year.
Speaking on the future, CEO and President George Burns stated, “Our mine teams delivered first-quarter gold production in line with the forecast plan that supports our 2021 guidance and represents a good start to the year,” continuing on, “Our focus ahead is on maintaining this positive momentum by delivering on key initiatives in a transformational year for Eldorado.” With all of this in mind, will EGO make your mining stock watchlist?
Hecla Mining Company (NYSE: HL)
Hecla Mining Company is an operation that will acquire land, discover metal properties, and produce. The company produces precious metals and base metal properties. Its operations take place both internationally and in the United States. Its primary products are lead, zinc, and bulk concentrates. But in addition to this, it sells carbon materials to smelters, metal traders, and processors. Hecla additionally sells unrefined gold and silver bullion bars.
On May 18th, Hecla released its first-quarter exploration report. This report was generally viewed as positive. The President and CEO of the company Phillips S. Baker Jr., “Our early exploration results, just two miles from the mine portal, validates our thesis that despite its long high-grade production history, there remains significant untouched potential at Midas.” Rising gold prices are also contributing to the positive performance of HL stock. With this in mind, will Hecla make it on to your list of mining stocks to watch?
Mining Stocks In 2021
As 2021 continues, we are seeing how reopening is impacting this sector. There are plenty of mining stocks increasing in value as a result of the economic recovery that is starting. We are still a long way from full recovery, but that does not mean there isn’t many options for investing in mining stocks at the moment.
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