Are these the top mining stocks to watch this year?
There have been so many mining stocks that have gone up in the last year. The pandemic created a situation for these mining assets that was not expected before. There are plenty of types of mining stocks that could be potential investments. The first of which is the most popular sector in this niche. These would be gold and silver-related stocks. In the last year, gold and silver stocks have dramatically increased in price. This is because many traders turned to metal assets instead of the dollar in the dark economic times.
Now you may be wondering, what steps should you take when investing in mining stocks? Well, it is always important to look at news that is going on in the sector. World news also has a large impact on precious metals. You should also look at the trading volume of a stock that you may be investing in.
These are all things that can help when deciding which the best mining stocks to watch are. Some may think it is not the right time to invest in the metal sector. But this is not necessarily true. There are many mining stocks trending in the market. Now let’s take a look at three companies that are performing well in August.
Top Mining Stocks To Watch
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 objective is to explore for gold deposits. It has interest in the Buckreef gold project, Kigosi project, and the Itetemia gold project.
In July, the company announced that it continues to execute mine development and exploration. The CEO of the company said, “The Company and Buckreef Gold have continued to make significant progress this quarter. We developed and are actively implementing a plan to mitigate the cash burn at the Buckreef Gold operating level through an upgrade of the oxide test plant circuit. This plan maintains the continuity of the core team and ramps up mining activity in the short term.” Keeping this in mind, is TRX a contender for your mining stock watchlist?
Rio Tinto Group (NYSE: RIO)
Rio Tinto Group is a mining stock that explores for, mines, and processes various mineral resources. Rio’s main products are aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium, salt, iron ore, and uranium. Rio does aluminum smelting, and many types of mining.
On August 2nd, the company announced a partnership with Komatsu for zero-emission mining. The company’s Chief Commercial Officer Alf Barrios said, “Our support of a trial, and the option to buy some of the first trucks from Komatsu, underscores our shared commitment to actively collaborate on product planning, development, testing and deployment of the next generation of zero-emission mining equipment and infrastructure as we look to decarbonize our business.”
Rio has had ties with Komatsu all the way back to 2008. The company is one of the first to join Komatsu’s Greenhouse Gas Alliance. With this to note, is RIO a contender for your list of mining stocks?
MP Materials Corp. (NYSE: MP)
MP Materials Corp. is a mining stock that owns and operates rare earth mining and processing facilities. It is currently the largest rare earth materials producer in the Western Hemisphere. The company holds interest in 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.
On August 5th, the company reported its second-quarter 2021 results. This is when the company announced record quarterly production, net income, and revenue. Its revenue grew 141% year over year, and its adjusted EBITDA grew 491% year over year.
The Chairman and CEO of the company, James H. Litinsky said, “MP Materials’ second quarter results demonstrate our strong execution as demand for rare earth materials continues to grow. The MP team produced the highest quarterly REO output in Mountain Pass history, driving revenues to more than double and Adjusted EBITDA to increase nearly six times compared to the second quarter of 2020.” With this new info in mind, will MP stock make your watchlist?
Mining Stocks To Buy?
It can be difficult to decide which mining stocks are the best to buy. Looking at things like recent news and stock volume are important in the selection process. Right now the world is in a rather volatile position with the pandemic and economy.
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