These Mining Stocks Are Performing This Week
2021 has been quite an interesting year for the market of mining stocks. Mining assets started 2021 high, but quickly settled back down. But 2020 was a monumental year for mining stocks as we know them right now. The pandemic caused mining stocks to explode in value due to rising material and metal costs. This was apparent to the mainstream with materials like gold and silver.
What many do not realize is, there are many other mining sectors that have shown high market performance in the last year. For example, copper and lithium stocks have performed extremely well in the market. This was largely due to electric vehicles taking off in popularity. Steel, aluminum, uranium, among others are also great performing mining stocks that investors can keep an eye on.
How do you invest in mining stocks? Well, deciding which company is right for you is not as crazy as it may seem. It can be very useful to look at what is going on in the world, as world news has a grand effect on mining stocks. Sector news is crucial when investing in mining stocks. This can include stuff like shortages, demand, closures, and more. Company specific news is also very important when investing, so you know where a company you are interested in is at. Before investing in mining stocks, take a look at the volume of a company on any given day. Sometimes, the volume of a mining stock can impact what direction share prices will go next. Keeping all of this information in mind, let’s take a look at three high performing mining companies at the moment. Will these mining stocks prevail throughout July?
Top Mining Stocks To Watch
- United States Antimony Corporation (NYSE: UAMY)
- Alcoa Corporation (NYSE: AA)
- Tanzanian Gold Corporation (NYSE: TRX)
United States Antimony Corporation (NYSE: UAMY)
United States Antimony Corporation is a mining stock that primarily focuses on producing and selling antimony, silver, gold, and zeolite products in North America. Among its products are a flame retardant system for plastics, rubber, fiberglass, paints, paper, and more. Its antimony oxide is used as a color fastener in paints. Back in January, United States Antimony Corporation announced a $2 million private placement in order to accelerate its development of its Los Juarez gold and silver project. So what has the company been up to in recent history?
On June 28th, United States Antimony Corporation announced a new operational update. This update provided a lot of information on its properties, purchases, sales, employment, and resources. On the day of the release of this operational update, UAMY stock increased by 12% in the market. UAMY stock’s volume is more than double its market average on the same day as well. At the start of 2021, this mining penny stock was at $0.50 per share on average. Now on June 28th, the company has reached over $1 per share. When it comes to penny stocks, this is a huge difference in price. Will UAMY make your mining stock watchlist this week?
Alcoa Corporation (NYSE: AA)
Alcoa Corporation is a mining stock that produces and sells bauxite, alumina, and aluminum products. Its products are sold in the USA, Spain, Australia, Canada, Brazil, and more. Alcoa will mine bauxite, and process the mineral into alumina. It also smelts aluminum, casts it, and rolls it. The company also has hydro and coal generation technology that produces and sells electricity via wholesale. This is purchased by traders, industrial consumers, distribution companies, and more.
On June 28th the company announced the sale of its former Eastalco site for $100 million. The VP of Asset Management at Alcoa, Mark Stiffler said, “When Alcoa closed the Eastalco site, we made a commitment to bring this property back into productive and sustainable use. The sale to Quantum Loophole and TREP is a story of economic and environmental sustainability, taking a former industrial site through the remediation process and bringing it forward for a new industrial use.” This means that Alcoa has now seen a Q2 gain of about $90 million. On the day of this occurrence, AA stock went up about 1% in the market. With this in mind, will you add this company to your mining stock watchlist this week?
Tanzanian Gold Corporation (NYSE: TRX)
Tanzanian Gold Corporation is a mining stock that explores and develops mineral properties in the United Republic of Tanzania. Its primary operation is the exploration of gold deposits. It has interest in the Buckreef gold project, Kigosi project, and the Itetemia gold project.
On June 21st, Tanzanian Gold Corporation announced a new discovery at Buckreef Gold with a 2.9 km strike length. The CEO of the company, Mr. Stephen Mullowney said, “As part of the new management team’s continued in-depth assessment of the Buckreef Gold asset and empowerment of local management, we continue to be excited by the Greenfield exploration potential of the Buckreef Gold land package.”
Mining penny stocks are often highly volatile assets. Penny stocks are risky because of their low cost. This means that these companies can move up or down large percentages in a single trading day regularly. This can result in big gains, or big losses. TRX stock has seen a good amount of momentum in the last month. At one point TRX stock almost reached past $0.60 per share, although it is at $0.50 per share at the moment. Will TRX make your mining penny stock list?
Mining Stocks In July 2021
Inflation fears have arrived, and with that has come more interest in metals and materials. If the value of the dollar falls dramatically, it could potentially cause material prices to rise like in 2020. This is all speculation at the moment. What we do know is that there are many mining stocks moving up in market value right now. So keeping that information in mind, which companies will make your watchlist this upcoming month?
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