Top Mining Stocks To Watch
Many believe that gold and silver are the only profitable niches when it comes to mining stocks. While these metals have provided great returns to investors in the last year, there are other great mining stocks to watch in the market as well. Copper has been an exciting metal for investors due to its increased price in the last year. The reason that copper has increased in price so much is due to a few reasons.
Fully electric vehicles use roughly 183 pounds of copper per vehicle. Your everyday car has anywhere between 18-49 pounds of copper. So as the electric vehicle market grows every year, more and more copper is needed in the sector. For similar reasons, lithium stocks are performing well in the market too. Lithium is a key component in electric vehicles because of lithium-ion batteries. Other high performing sectors are steel, uranium, and lead among others.
There are a few steps that you may want to take before investing in mining stocks. The first of which is keeping up with all of the news in the sector, as well as world news. Looking at the volume of a mining stock could indicate if it is going to move up or down soon as well. Essentially, do not just blindly invest in mining stocks. Some think that there is no potential for mining stocks in the market. But this is simply not true, as many investors are making profit with mining stocks in 2021. So with that being said, let’s now take a look at three mining stocks that are performing very well today.
Top Mining Stocks To Watch
- Southern Copper Corporation (NYSE: SCCO)
- Vale S.A. (NYSE: VALE)
- BHP Group Inc. (NYSE: BHP)
Southern Copper Corporation (NYSE: SCCO)
Southern Copper Corporation is a mining stock that explores, smelts, and refines copper. It does these operations in Mexico, Chile, Peru, Argentina, and Ecuador. It mines copper ore, smelts copper concentrates, refines, and produces it. The company actively has interests in 37,622 hectares of land in Peru, 147,974 hectares in Mexico, 63,453 hectares in Argentina, 42,615 hectares in Chile, and about 7,200 in Ecuador.
Southern Copper has stated that its various organic growth projects are supposed to achieve its target of producing 1.9 million tons by 2028. Now Southern Copper has projected that it is on track to meet that goal right now. SCCO anticipates lower grades to impact production this year and next year. The company also believes that its Peruvian production will come back on track in 2023, and inflate its copper production significantly. The last few months haven’t been the best for Southern Copper Corporation. But this seems to be turning around on June 18th, as the company is one again in the green. With this in mind, will you add SCCO stock to your watchlist this month?
Vale S.A. (NYSE: VALE)
Vale S.A. is a mining stock that produces and sells iron ore and iron ore pellets for use as raw materials in such processes as steelmaking. It operates in three segments; Ferrous Minerals, Base Metals, and Coal segments. Some of the materials it produces is gold, silver, copper, cobalt, manganese, and more. It additionally offers platinum group metals.
Vale one year ago was worth about $10 a share on average in the market. Now on June 18th, VALE stock is worth about nearly $21 per share on average. This one year return on investment has attracted a lot of new investors to Vale. On June 16th, it was announced that Vale can resume its operations at its Timbopeba iron roe dry processing plant in up to two months because of the use of an unmanned train. This train will allow Timbopeba to operate at 80% of its capacity. With all of this recent information to note, will VALE make your watchlist this week?
BHP Group Inc. (NYSE: BHP)
BHP Group Inc. is a mining stock that works in the natural resources field. Its business is operated in Australia, Europe, China, Japan, India, and other parts of Asia and North America. The company’s primary products are petroleum, copper, iron ore, and cole. It also will mine for silver, zinc, uranium, gold, and more.
On June 16th, BHP started discussing the growth of the material Potash. The prices of the material have rallied with the economic recovery caused by the pandemic. The company believes that the material will be profitable for the company in the future. The chief economist at BHP, Huw McKay said, “Potash is a future-facing commodity that is positively leveraged to global mega-trends, including decarbonization. While the industry is currently subject to excess capacity, the demand trajectory is expected to absorb this overhang over the course of this decade.” Not much else has come from BHP recently meaning it is being driven by the price of materials themselves. So will BHP make your list of penny stocks to watch?
Mining Stocks This Year
Mining stocks have had their fair share of ups and downs in the last year. This is because of the market volatility caused by the COVID-19 pandemic. There are many mining stocks that are performing well at the moment though. It is important to make a watchlist of those you may potentially invest in. For now, which companies will make it on to your list?
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