These Mining Stocks Have July 2021 Potential
There are so many reasons that mining penny stocks will perform well in the market. A lot of this was seen in the last year, when gold stocks and silver stocks exploded in value. It all started with the pandemic back at the start of 2020. The value of the dollar tanked significantly, resulting in many mining stocks increasing in share price. This is because investors turned to physical assets like gold during times where the economy is bad.
But what about those who do not want to hold gold or silver physically, but still want to invest in the sector? That is where mining stocks enter the playing field. Mining stocks provide an outlet to those that do not want to physically hold these assets. In the last year, plenty of mining stocks have increased in value at a rapid rate.
Gold and silver mining stocks are not the only type that exist in the sector though. Lithium stocks for example have gone up significantly since the start of 2020. This is attributed to electric vehicles. EVs use lithium-ion batteries in all production cars. As you may know, this is a huge growing market right now. This is the same reason that copper is able to do so well right now too. Hundreds of pounds of copper are being used in all electric vehicles. There is also steel stocks, uranium, and many more. So let’s look at three mining penny stocks that have been performing well in the market today.
Top Mining Stocks To Watch
Uranium Energy Corp. (NYSE: UEC)
Uranium Energy Corp. is a mining stock that explores, extracts, and processes uranium and titanium concentrates. This company has interest in the Palangana mine, Burke Hollow, Goliad, Longhorn, and more. Its many projects are located in Texas, Arizona, Colorado, Canada, and Paraguay.
A few weeks ago, this mining stock released its fiscal 2021 third quarter quarterly report. It was announced here that as of April 30th, the company held $132.4 million in cash, equity, and physical holdings. This is comprised of $47.9 million in cash, uranium inventory holdings of $26.2 million, and 14 million shares of Uranium Royalty Corp. with a market value of $49.3 million.
6 months ago this penny stock was at $1.76 per share on average. Now UEC stock price is at nearly $3 per share on average. All of this momentum shows truly how well the mining sector has been performing lately. Now that you know this information, will you be watching this mining penny stock in the future?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a mining stock that exploring for, developing, and operating various gold mining properties. Mining stocks have seen a large boost in popularity recently as precious metals and materials rise in price. IAMGOLD’s properties are located in The Americas and West Africa. It currently has interest in the Rosebel mine, Essakane mine, Westwood mine, Diakha-Siribaya project, and many more assets as well.
There is no company specific news that is causing IAG stock to move upwards in the market. The reason for its rise in the market is because of the price of gold itself. When gold moves up, IAG moves up, and vice versa.
The company’s last update was on May 31st. IAMGOLD announced the filing of an early warning report in connection with Dundee Precious Metals’ proposed acquisition of INV metals. Now the company has agreed to vote all of its common shares of INV Metals in favor of the acquisition by way of plan of arrangement. The company recently reported positive first quarter results as well. So will IAG make your penny stock watchlist this week?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining stock that produces materials all around the world. These locations include Canada, Chile, Argentina, and Brazil. The company explores for and produces gold and silver ores. Currently Yamana has interest in the Cerro Moro mine, Malartic mine, Minera Florida mine, Jacobina mine, and more.
On June 15th, Yamana Gold released its 2020 material issues report. It stated a lot of different updates in this report. Yamana Gold stated, “Our rapid and comprehensive responses to protect our workers, host communities and business from COVID-19 and logistical support for the distribution of vaccines.” The company also recently provided an update for timing on a feasibility study and development decision for the Wasamac Project.
There is not any other company-specific news that is driving the stock price of AUY upwards. Similar to IAMGOLD, AUY stock will go up with the price of materials like gold and silver themselves. Will this company make your watchlist this month?
Mining Stocks In 2021
Nobody knows where mining penny stocks could go at the moment. This is because the world is in a rather volatile state. What we do know is that there are fears of inflation in the United States right now. If the dollar were to crash again, it is possible that material prices could go up. This could subsequently help mining stocks perform better. This is all speculation though, for now, which companies will make your mining stock watchlist?
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