Looking for mining stocks to watch? Check out these 3 for your watchlist
Back in 2020, the growth of mining stocks was completely unpredictable when the pandemic first struck. Then, the pandemic arrived and it caused a lot of mining stocks to fall in value. Then these assets recovered, and many pushed to record highs. So what has been going on one year later? It seems that the falling pandemic numbers are what have been helping mining stocks hold the momentum in the last few months of 2021 now. This is due to increased industrial use of materials and retail sales increasing.
Often many turn to gold and silver related mining stocks when investing in the sector. There are other types of mining stocks to consider as well when looking to invest in the sector. For example, lithium stocks have exploded in popularity throughout the last year as well. This is due to their connection to electric vehicles. Steel stocks perform well when the metal increases in demand and price. There are also uranium stocks, copper stocks, and many more.
There are plenty of things to look for when investing in mining stocks, no matter which segment it’s in. World news is very important as it affects all stocks, especially mining stocks. Things like jobless claim reports, real estate reports, and more affect the price of mining stocks too. It can often be difficult to decide which mining stocks are best for you. So let’s take a look at three to keep your eye on next month.
Best Mining Stocks To Watch
- United States Steel Corporation (NYSE: X)
- Kinross Gold Corporation (NYSE: KGC)
- Teck Resources Limited (NYSE: TECK)
United States Steel Corporation (NYSE: X)
United States Steel Corporation is a mining stock that produces and sells flat-rolled and tubular steel products. Its products are mostly sold in North America and Europe. Its flat rolled product section sells slabs, strip mill plates, sheets, and more. The company has a variety of other products in its lineup as well. In the last year this company has seen a significant amount of momentum.
On June 29th, United States Steel Corporation announced that it will work with Equinor to assess hydrogen, carbon capture, and storage development. The Senior VP and Chief Strategy & Sustainability Officer Richard Fruehauf said, “The successful development of hydrogen and CCS technology in the tri-state region will require investment, cooperation, and exploration across political and perceived barriers. As we build momentum toward our ambitious goal targeting net-zero carbon emissions by 2050, the opportunity to explore the potential for a hydrogen hub in this region – anchored in the Mon Valley – is cause for optimism.”
This caused shares of X stock to go from $23.21 per share to $23.82 per share on the date of the announcement. This large increase was significant, but the company’s volume is still lower than its market average at the moment. Keeping this in mind, is X stock a contender for your mining watchlist in July?
Kinross Gold Corporation (NYSE: KGC)
Kinross Gold Corporation is a mining stock that explores for land, acquires land, and develops gold related assets on its properties. The company runs its operations in the United States, Canada, Russia, Brazil, Chile, Ghana, and Mauritania. It also extracts and processes gold ore to produce and sell it after mining.
Investors have been long awaiting a new significant update from Kinross Gold Corporation. On June 29th, the company has announced the release date for its second quarter results. The financial statements and operating results will be released on Wednesday, July 28th, 2021 after the market closes. The following day it will hold a conference call to discuss the results and answer questions.
Financial reports are often the best way for investors to see how a mining corporation is performing. On the day after this announcement, KGC stock is up 1% in the market. So will KGC make it on to your list of mining stocks to watch in July?
Teck Resources Limited (NYSE: TECK)
Teck Resources Limited is a mining stock that focuses on research, exploration, development, and production of natural resources. Teck’s operations take place in the Asia Pacific, the Americas, and Europe. Its different segments include Steelmaking Coal, Copper, Zinc, and Energy. In these segments, Teck produces coal, copper, zinc, bitumen, gold, silver, and many other resources. It owns interest in Frontier oil sands projects, and exploration and development projects. These projects are located in Alberta, Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States.
Teck has been named to the Best 50 Corporate Citizens in Canada for the 15th consecutive year on June 30th. The President and CEO Don Lindsay said, “Our commitment to being a positive corporate citizen is led by our employees who are dedicated to giving back to the communities where we operate. We are focused on making a positive difference locally and globally as we responsibly provide the metals and minerals that the world needs for the transition to a low-carbon future.”
Now the company will release its financial results and hold an investors conference call on July 27th. TECK stock has gone from $22.30 per share to $23 per share in the last 5 days. So will this corporation make it on to your mining stock watchlist?
Mining Stocks To Buy Or Sell In July?
The sector for mining stocks is often a volatile and confusing place. That is why keeping your focus on research and investing wisely is recommended. As inflation fears continue, nobody knows truly what will happen with mining stocks in the market. Time will tell as we push through July 2021 what happens to mining stocks. For now, which companies will you add to your watchlist?
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