These Mining Stocks Have Potential In The Market
Mining stocks have been an interesting sector to watch in 2021. We all know about the insane momentum that these stocks carried throughout 2020 because of the pandemic. Just like last year though, mining stocks are still extremely volatile at the moment. Mining assets started 2021 high but quickly settled back down.
What many do not realize is, there are many other mining sectors that have shown high market performance in the last year. For example, lithium and copper stocks have performed extremely well in the market. This was largely due to electric vehicles taking off in popularity. Steel, aluminum, uranium, among others are also great performing mining stocks that investors can keep an eye on.
Deciding which company is right for you is not as difficult as it may seem. It can be very useful to look at what is going on in the world, as world news has a grand effect on mining stocks. Sector news is crucial when investing in mining stocks. This can include stuff like shortages, demand, closures, and more. Company-specific news is also very important when investing, so you know where a company you are interested in is at. Before investing in mining stocks, take a look at the volume of a company on any given day. Sometimes the volume of a mining stock can be an impacting factor on what direction share prices will go next.
Top Mining Stocks To Watch
- United States Antimony Corporation (NYSE: UAMY)
- Tanzanian Gold Corporation (NYSE: TRX)
- Alcoa Corporation (NYSE: AA)
United States Antimony Corporation (NYSE: UAMY)
United States Antimony Corporation is a company with a primary focus on producing and selling antimony, silver, gold, and zeolite products in the US and Canada. Some of its products include a flame retardant system for plastics, rubber, fiberglass, paints, paper, and more.
On June 28th, the company released an operational update. The company reported various updates in terms of production, operations, safety, environmental, and more. Its sales figures will be announced quarterly and separately when UAMY files its 10Q for the period. One year ago, UAMY stock was at $0.47 per share on average. Now on August 26th, UAMY stock has reached 0.82% in the market. Keeping this in mind, will you add UAMY to your list of mining stocks to watch?
Tanzanian Gold Corporation (NYSE: TRX)
Tanzanian Gold Corporation 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.
On July 15th, the company announced its financial results for the third quarter of 2021. The company’s cash flow generated has allowed the company to reinvest in itself and fund exploration and drilling projects.
CEO Stephen Mullowney 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.” In the last 5 days TRX stock has gone from $0.38 per share to $0.41 per share. Will you add TRX stock to your watchlist?
Alcoa Corporation (NYSE: AA)
Alcoa Corporation is a mining company that produces and sells bauxite, alumina, and aluminum products. Its products are sold in the USA, Spain, Australia, Canada, Brazil, and more. Alcoa will mine bauxite, and process the mineral into alumina. It also smelts aluminum, casts it, and rolls it. The company also has hydro and coal generation technology that produces and sells electricity via wholesale.
On July 15th, the company reported its financial results for 2021. Alcoa reported its highest profitability since Alcoa’s creation. Its net income was a record at $309 million and earnings per share of $1.63. Alcoa finished the quarter with a cash balance of $1.65 billion.
The President and CEO Roy Harvey said, “This record-setting performance reflects how our strategies are working to deliver results. Across our Company, we have been working relentlessly to ensure that Alcoa is successful through all market cycles, and this steadfast resilience and consistent performance has allowed us to capture the benefits from strong aluminum pricing and improved customer demand.” With this in mind, will AA make your penny stock watchlist?
Mining Stocks To Buy?
It can be hard to decide which mining stocks are the best to buy. There are a lot of things to consider before you put your money into mining stocks. But if you do a lot of research and figure out what is best for you, it will be very helpful in the process. For now, which mining stocks will make your watchlist?
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