These Mining Stocks Are Performing Well This Week
There is a large variety of mining stocks that have been trending in the market throughout 2021. Some may look at the traditional assets like gold stocks and silver stocks when trying to invest. But what many do not realize is that there are many other types of mining stocks that are high performing at the moment as well. These include copper stocks, lithium stocks, steel stocks, uranium stocks, and many more.
Many mining stocks are increasing in value because of loosening COVID-19 restrictions. While COVID-19 cases fall and vaccinations increase in many places around the world, industrial companies can operate more efficiently. This means that materials are receiving a boost as industrial use increases. Mining stocks are also performing well because of retail reopening. Think about how many products you use every day that have silver or copper in them. Amid the economy moving towards recovery, these metals have increased in demand.
So where do mining stocks stand in 2021? This is the question on every investors mind at the moment. As mentioned above, the pandemic restrictions lowering is certainly helping materials move up in value. The problem is that much of the world has also not recovered from the pandemic yet. Look at India for example, which has had skyrocketing COVID-19 cases. Until the pandemic is completely gone we won’t know for sure what will happen to mining stocks. What we do know at the moment is that there are plenty of these assets that are rising in value and could be considered for your watchlist. Let’s now take a look at three mining stocks that have shown high performance in the market recently.
Top Mining Stocks To Buy Or Sell
1. Eldorado Gold Corporation (NYSE: EGO)
2. Rio Tinto Group (NYSE: RIO)
3. Franco-Nevada Corporation (NYSE: FNV)
Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold Corporation is a mining stock that will discover and acquire land, explore it, develop it, and then produce and sell precious metals. Its products include but are not limited to gold, silver, zinc, lead, and iron ores as well. Currently Eldorado runs the Kisladag and Efemcukuru mines. These mines and all of its properties are in Greece and Canada. Now we must look at what the company has been up to recently to see why its stock price is going up.
This company recently released its first quarter financial results. Its production did fall 4% year over year, but this was no problem as its production is on course to meet guidance. George Burns, President and CEO of the company said, “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.” EGO stock has increased in value in the last month. Will you be adding EGO to your list of mining stocks to watch?
Rio Tinto Group (NYSE: RIO)
Rio Tinto Group will explore for, mine, and process various mineral resources. Its main products include aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium, salt, iron ore, and uranium. The company will also produce alumina, do aluminum smelting, and many types of mining.
Because of the company’s silver, copper, and gold businesses, RIO is doing very well. Industrial demand for these materials is going up as COVID-19 restrictions loosen in the United States and many other places. Rio Tinto and Comptech recently partnered up to deliver a new generation of aluminum alloys to the market to be used in EVs and 5G antennas. Companies involved with EVs often perform well in the market.
The VP of Sales and Marketing at Rio Tinto, Tolga Egrilmezer said, “Through this partnership, we are delivering a new range of specialised alloys designed to deliver high performance, lower cost solutions for advanced applications like electric vehicles and 5G antennas. This is an area of emerging demand where our industry leading research and development capability allows us to deliver products that meet the specific needs of manufacturers and end customers.” Will RIO make your list of mining stocks to watch?
Franco-Nevada Corporation (NYSE: FNV)
The final company on this list of mining stocks, Franco-Nevada Corporation has been moving up in the last month. Franco-Nevada is a royalty and stream mining company. It mainly focuses on gold but also will work with silver and platinum group metals. Additionally Franco-Nevada works with gas and energy comprising oil too. Its main segments of the company are energy and mining.
In May this corporation released its first quarter financial results. The company announced revenue increases of 28% and net income going up 274%. In addition to this, its adjusted EBITDA rose by 36% and its adjusted net income went up 47%.
President and CEO Paul Brink said, “We were delighted, post quarter-end, to acquire the Vale Royalty Debentures that, along with our Labrador Iron Ore Royalty Company investment, add to our base of low-risk long-life cash flow. The transaction adds to the diversity of our portfolio while it remains more than 80% precious metals focused. Following the acquisition, we have revised our guidance and outlook and now expect 25% growth in revenue over the next five years.” With strong performance all around in its last report and rising material prices, will FNV make it on to your mining stock watchlist?
The Future Of Mining Stocks
As mentioned in the beginning of this article, mining stocks are in a rather volatile state at the moment. Nobody knows when the economy will be able to truly recover from all of this. The process has started though, with restrictions and mandates reducing in usage in many places, especially in the United States. So which mining stocks will you add to your watchlist in June?
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