Are these mining stocks worth watching as inflation fears rise?
Mining stocks are notorious for moving with the price of metals themselves. When the pandemic started last year, the price of mining stocks fell down quite a bit. That was until investors realized the value of the assets. This is when the sector for mining stocks began rapidly increasing in value. The most popular type of mining assets is gold stocks and silver stocks. Gold and silver reached record high prices in 2020. This caused the stocks to also greatly increase in value throughout the year.
There are also lithium stocks, which have been performing extremely well recently. These stocks have been performing well as a result of the electric vehicle boom. Electric vehicles use lithium-ion batteries, which is why the market for lithium stocks has grown so much. There are plenty of other mining sectors to keep your eye on, such as copper, iron, steel, and uranium.
There are fears of inflation right now, and nobody knows what effect that will have on mining stocks. But if a notable amount of inflation takes place, it will likely impact most if not all mining stocks. At the moment, there are still many mining stocks that are increasing in value. Often these companies will perform well when the materials they search for are growing in price. So let’s take a look at three mining stocks that have potential in the market.
Top Mining Stocks To Watch
- Great Panther Mining Limited (NYSE: GPL)
- Silvercorp Metals Inc. (NYSE: SVM)
- McEwen Mining Inc. (NYSE: MUX)
Great Panther Mining Limited (NYSE: GPL)
Great Panther Mining Limited is a mining stock that explores various properties located in Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. These mines include the Tucano gold mine in Brazil, two silver mines in Mexico, among others.
On June 22nd, Great Panther published its 2020 sustainability report. The company has now reported on its health, safety, environmental, and social management for two years in a row. The President and CEO of the company, Robert Henderson said, “This year’s report not only explores how we have further advanced our sustainability programs, but also sets new performance targets for continual improvement as we emerge from what was arguably one of the most challenging years of our lifetimes. I am incredibly proud of our teams across the continent for having come together to deliver on our business objectives in a safe and sustainable manner.”
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GPL stock is one of those that achieved very high prices in 2020. This was amid higher mineral prices in the market. Still, in 2021, the company often experiences upwards spikes. This company can be considered more volatile than your average mining stock. This is because GPL is a mining penny stock. Penny stocks are known for their high-risk high reward-type investments. With all of this to consider, will you add GPL to your mining stock watchlist?
Silvercorp Metals Inc. (NYSE: SVM)
Silvercorp Metals Inc. is a mining stock that acquires, explores, develops, and mines for mineral properties. The China-based company mainly looks for silver, gold, lead, and zinc. It actively holds interest in the Ying silver lead zinc project and the GC silver lead zinc mine.
On July 13th, Silvercorp Metals Inc. reported its operational results and financial results release date for the first quarter of fiscal 2022. Currently, Silvercorp expects to release its financial results after the market closes on Thursday, August 5th, 2021.
Financial results often show where a company is currently at. For this same reason, these results can often impact the direction a mining stock goes in the short term or long term. Investors will be looking out for this August 5th date to see what is next for SVM stock. Some investors could consider SVM a mining penny stock as it is close to $5 per share at $5.22 per share on average as of July 13th. Will you add SVM to your list of mining stocks to watch?
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a mining stock that explores for, develops, produces, and sells different resources. The resources McEwen looks for include silver, gold, and copper. It owns 100% interest in the El Gallo project, Fenix project, Black Fox mine, and plenty more. The company operates its properties in Mexico, Canada, Argentina, and the United States.
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The company recently announced an $80 million Series B private placement to advance the Los Azules Copper Project. The Chairman and CEO of the company Rob McEwen said, “This is a significant and exciting moment for McEwen Mining because of the value it should release. Currently, the market appears to be giving us little value for our Los Azules copper deposit, despite its impressive size and robust economics at present copper prices. Unfortunately, the scale of the required project development expenditures would require McEwen Mining to issue a massive number of additional shares.” Will you add MUX stock to your watchlist this month?
Mining Stocks To Buy This Year?
It can be difficult to decide which mining stocks are the best to invest in this year. This is due to the uncertainty that still exists from the pandemic. Sure, things have slowed down in the United States and a few other countries. But in places like India and Brazil, COVID-19 cases are skyrocketing. There are also fears of inflation in many places including the United States. Noting all of this, which companies will you add to your mining stock watchlist?
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