These Mining Stocks Could Perform Well This Month
June was not a month of astronomical gains for mining stocks. There is a lot of fear in the market right now because of inflation. As a result, the price of many metals and materials has remained stagnant. But at the same time, there have been many mining stocks that performed well in the last month.
News is important as it is the way to get intel that could potentially impact mining stocks. But world news is not the only type of news you should look out for when investing in this sector. Sector news is very important as well for obvious reasons. Company updates for the companies of interest on your watch list can often dictate whether you want to invest or not. Things like mining progress, controversy, closures, updates, financials, and more can all impact this decision making.
There are many types of mining stocks that are performing well in the market. Most will look at gold stocks and silver stocks first, but there are many other great contenders. Rare earth mining stocks are also seeing some momentum in the market. Copper, uranium, lithium, no matter what type of mining stock it is, there is market potential. But where do things stand in July? Inflation fears, COVID cases internationally, and more all have an impact on the sector. Let’s look at three mining stocks to watch in July 2021.
Top Mining Stocks To Watch
- MP Materials Corp. (NYSE: MP)
- Coeur Mining Inc. (NYSE: CDE)
- Royal Gold Inc. (NADSAQ: RGLD)
MP Materials Corp. (NYSE: MP)
MP Materials Corp. is a mining stock that owns and operated rare earth mining and processing facilities. It owns the Mountain Pass facility, and owns the mineral rights to the Mountain Pass mine and surrounding area. The company owns intellectual property rights for the processing and development of different rare earth minerals. MP Materials sells neodymium and praseodymium as its products.
Recently MP Materials received a department of energy award of $3 million to complete a feasibility study. The COO of MP, Michael Rosenthal said, “The clean technologies powering the future depend on powerful rare earth magnets to turn energy into motion. As the economy electrifies, achieving a sustainable means to extract critical materials from the by-products of fossil fuel extraction would diversify the supply base while providing valuable economic opportunity to communities across the country. We appreciate the support of the Department of Energy and the opportunity to collaborate with the world-class experts at the University of Kentucky as we work to advance this study.” In the last 5 days, MP stock has gone from $34 per share to $38 per share on average. With this in mind, will you add MP Materials stock to your watchlist in July?
Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc. is a mining stock that explores, develops, and produces gold, silver, zinc, and lead properties. It actively holds interest in the Palmarejo mine, Rochester mine, Kensington mine, Wharf mine, and many more all over North America. The company holds nearly 250,000 net acres of total land.
Back in May the company announced an investment of 11,067,714 shares into Victoria Gold Corp. The company’s President and Chief Executive Officer Mitchell J. Krebs said, “We are excited to become a shareholder of Victoria, and believe this transaction represents an attractive investment for our stockholders.” The company recently provided positive Silvertip and Crown exploration updates. CDE stock has not had the best year in the market, but it has experienced a lot of spikes throughout the year. Will CDE make it on to your list of mining stocks to watch?
Royal Gold Inc. (NADSAQ: RGLD)
Royal Gold Inc. is a royalty purchaser and owner based mining stock. The company acquires and manages numerous royalties, metal streams, and other related assets. Royal Gold will acquire a royalty interest or stream and finance projects for stream or royalty interests. Its resources at goal are gold, silver, copper, zinc, nickel, lead, and cobalt. Royal Gold actively has more than 187 properties on 5 of the 7 continents. Included in this is interest on 41 producing mines and 16 developmental stage projects.
On June 30th the company announced that it has acquired a gold stream on Ero Copper’s highly prospective NX Gold Mine. The President and CEO of Royal Gold, Bill Heissenbuttel said, “The NX Gold Mine is a low-cost operating mine with a history of reserve replacement and resource additions, and Ero is a high-quality and well-funded operator with a proven record of exploration success. In addition to supporting near-mine and regional exploration efforts, we are pleased to incorporate delivery-based payments dedicated to supporting Ero’s ESG programs in the local communities around the mine.” At the start of 2020, RGLD stock was at $110 per share and it is now at $114 per share on average. Will RGLD stock make your watchlist?
Mining Stocks In July 2021
So far, 2021 has been quite an interesting year for mining stocks. It will be interesting to see what happens next to mining assets. As the market for these commodities continues to grow over time, there is a lot of potential in the sector. So which mining stocks will make it on to your watchlist this week?
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