Are these the top mining stocks to buy?
The last year and a half for mining stocks have been great. Many companies in this sector have reached new record highs during this time period. It all started with the pandemic causing the prices of materials like gold and silver to go up in price exponentially. This created many mining stocks to watch throughout 2020. But we are in 2021 now, so what is the current state of these stocks?
2021 has not been as great for mining stocks as 2020 was. With that being said, there are still plenty that has increased in value this year. Last year gold stocks, silver stocks, and lithium stocks were the kings of the mining sector. This year, materials like copper, steel, and iron ore are rising in value very quickly.
There are many fears of inflation affecting the market right now. Nobody knows which way this could cause mining stocks to go. At the moment, many mining companies are reporting their second-quarter financial results for 2021. This can often help dictate which direction a company is moving in. Looking at world news, sector news, and other company news can also help decide when to invest. For example, if there is a shortage of a material and the demand goes up, it can cause the price of it to increase. This in turn will impact the related mining stocks. So what are the top mining stocks to buy today? Usually, it is best to look at the charts and volume of a company before investing. Let’s take a look at three mining stocks that are currently increasing in market value.
Mining Stocks To Buy This Week?
- Lithium Americas Corp. (NYSE: LAC)
- Teck Resources Limited (NYSE: TECK)
- Kirkland Lake Gold Ltd. (NYSE: KL)
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a mining stock that searches for mineral resources. Its primary assets are all lithium deposits. Currently, Lithium Americas owns interests in the Cauchari-Olaroz Project, Thacker Pass project, and more. Lithium has experienced a lot of positive momentum in the market primarily due to electric vehicles.
On July 12th, Lithium Americas Corp. announced an investment in Arena Minerals Inc. The company will acquire 42,857,143 subscription receipts of the company for $4.8 million. This will provide Lithium America’s future optionality to advance exploration. The President and CEO of the company Jon Evans said, “We look forward to working with Arena Minerals and Ganfeng to support the pursuit of resource exploration opportunities in Argentina. This investment will allow Lithium Americas to advance our long-term resource development plans, while maintaining our team’s focus on execution at Caucharí-Olaroz and the Thacker Pass project.”
On July 12th, LAC stock is up 10% in the market. One year ago, LAC stock was worth about $5 per share on average. Now on July 12th, the company is at nearly $16 per share on average. Will you add LAC to your list of mining stocks to watch?
Teck Resources Limited (NYSE: TECK)
Teck Resources Limited is a mining stock that focuses on research, exploration, development, and production of natural resources. The company produces coal, copper, zinc, bitumen, gold, silver, and many other resources. It owns interests in the 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 Resources has released a few recent updates that are potentially affecting its stock price. On July 7th, it was announced that the company has cut its third-quarter coal sales guidance after a fire hit its rail line. Its second-quarter 2021 sales will remain unaffected as it happened on the last day of the quarter. Now its steelmaking coal sales in the third quarter are expected to be lowered by 300-500 thousand tons because of this incident. Despite this, the company’s stock price has not been hurt that badly. In fact, it has gone up since the incident took place. Will TECK make your mining stock watchlist this week?
Kirkland Lake Gold Ltd. (NYSE: KL)
Kirkland Lake Gold Ltd. is a gold stock that owns property claims and additional land in multiple places. The company explores for different mineral resources at a diverse portfolio of projects. Its main resource searched for at Kirkland Lake’s claims is gold. Its major assets are the Macassa Mine and Fosterville mines located in Canada and Australia. It also has a current agreement with Newmont Corporation (NYSE: NEM) to run exploration on some of its properties.[Read More] Top Gold Stocks To Buy Or Sell In July
On July 12th, the company reported its second-quarter financial results. In this quarter, Kirkland Lake Gold experienced record production numbers. The CEO and President Tony Makuch said, “We generated record quarterly production in Q2 2021 and completed the first half of the year well positioned to achieve our full-year 2021 production guidance of 1,300,000 – 1,400,000 ounces, with our expectation now being to finish the year in the top half of the guidance range. The record production in Q2 2021 was largely driven by strong results at Fosterville, as well as higher levels of production at both Detour Lake and Macassa compared to both Q2 2020 and the previous quarter.” Will you add KL stock to your watchlist as it is up on the day of July 12th?
Mining Stocks To Buy Right Now?
There are plenty of great mining stocks to buy or sell right now. The stocks on this list are currently experiencing positive momentum in the market. With that being said, which mining stocks will make it on to your watchlist in July?
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