Will These Mining Stocks Increase In Value This Week?
There are plenty of mining stocks that have been performing well in the market in 2021. As you know by now, this sector has been extremely high performing in the last year. The main cause of this has been the pandemic and the economic darkness that it brought with it. The pandemic caused the price of many materials such as gold and silver to perform very well in the market. This is because investors turned to precious metals and materials while the price of the dollar was slipping.
There is something else that is affecting mining stocks now that we are in mid-2021. The pandemic is coming to a quick end in the United States right now. Restrictions have been loosened or removed entirely in all states. The U.S. is a big market for industrial and retail sales. So as reopening continues, the price of materials is going up right now.
There is also a large fear of inflation in the United States right now. If the U.S. dollar crashes again this year, it could cause materials to go extremely high. This is what some analysts are predicting. Some even believe that gold and silver prices could reach higher than they ever were. The truth is though, nothing is for sure in this market right now. All we can do is stay up to date with the latest that is going on in different mining sectors. So now let’s take a look at three mining stocks that are performing well in the market in June 2021.
Top Mining Stocks To Watch
- Kinross Gold Corporation (NYSE: KGC)
- Platinum Group Metals Ltd. (NYSE: PLG)
- Great Panther Mining Limited (NYSE: GPL)
Kinross Gold Corporation (NYSE: KGC)
Kinross Gold Corporation is a mining stock that currently will explore for land, acquire land, and develop gold related assets on its properties. Kinross has operations in the United States, Canada, Russia, and many other countries. Additionally, Kinross extracts and processes gold ore. Then it will produce and sell the precious minerals. The large company currently has 24.3 million ounces and 55.7 million ounces of proven and probable gold and silver.
On June 21st the company provided an update on the Tasiast mill fire that occurred at its mine. The company confirmed that there was no injuries caused by the fire, and mining activities have resumed at Tasiast. The company’s construction work on the Tasiast 24k expansion project and stripping to access higher grade ore has all been resumed. It does not expect this fire to have affected the life of mine production or mineral reserve estimates, or have a material impact on the mine’s value.
The CEO and President of the company, J. Paul Rollinson said, “Although this unfortunate incident is expected to impact our annual production guidance, our financial position and longer-term outlook remain very strong. We continue to expect production to increase to 2.7 and 2.9 million ounces in 2022 and 2023, respectively, and drive our robust free cash flow profile.” Will you add KGC to your list of mining stocks to watch this week?
Platinum Group Metals Ltd. (NYSE: PLG)
Platinum Group Metals Ltd. is a mining stock that acquires, explores, and develops platinum and palladium properties. But it also searches for rhodium, gold, ruthenium, iridium, copper, and nickel deposits. It actively holds 50.02% interest in the Waterberg project that is located in South Africa in the North Limb of the Western Bushveld complex.
On June 22nd the company announced that it has appointed Enoch Godongwana to the company’s board of directors. The CEO of Platinum Group R. Michael Jones said, “We are very pleased to welcome Enoch Godongwana to the Board of the Company. His extensive South African experience will be a valuable asset to the Company as we work through the financing and development of the world class Waterberg Palladium, Platinum and Gold Mine.” Other than this the company has not released any company-specific news lately. PLG stock price is likely moving upwards because of the rising price of materials in the market right now. Keeping this in mind, will the company make your mining stock watchlist?
Great Panther Mining Limited (NYSE: GPL)
Great Panther Mining Limited is an exploration mining stock that is based out of Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. With its primary metals being gold and silver, it is no surprise that GPL stock has greatly increased over time. Many metals such as gold and silver are still staying at key price points despite the current economic recovery as a result of inflation fears.
On June 22nd, Great Panther released its 2020 sustainability report. The CEO and President of the company Robert Henderson said, “This year’s report not only explores how we have further advanced our sustainability programs, but also sets new performance targets for continual improvement as we emerge from what was arguably one of the most challenging years of our lifetimes. I am incredibly proud of our teams across the continent for having come together to deliver on our business objectives in a safe and sustainable manner.” Will GPL stock make it on to your watchlist?
Mining Stocks and Inflation
Some believe that if the dollar crashes again, then mining stocks could see a huge uptick in price. This has many investors betting on mining stocks in 2021. If you don’t want to base your investment off of that, there are many other ways to invest in mining stocks. Looking at company specific and sector news are important when deciding on the best mining stock for you. So which companies will make your watchlist this year?
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