These mining stocks are going up in the market right now
If you’ve looked into investing in mining stocks, you likely have seen how volatile the market is at the moment. Mining stocks have experienced a lot of movement in the market throughout the last year. When the economy is not in a good position, mining stocks often will go up in price. This is because materials such as gold and silver are more valuable when the dollar is less valuable.
When investing in mining stocks, things can get confusing. That is why developing an investment strategy can be extremely useful. While there’s more complex stuff out there, let’s just focus on the basic ways to keep track of mining corporations. Looking at world news is ultra-important when investing in mining stocks. This has become especially apparent in 2021 because of the pandemic. Sector news is also extremely important when investing in these stocks. For example, if there is a lithium shortage it will likely impact-related stocks. Company-specific news is extremely important too and often dictates the direction that a company’s stock price is headed in.
Investors can often be strayed away from mining stocks as they think there is not an opportunity to make a profit. But this is incorrect as plenty of these assets are going up at the moment. It is best to look at the volume, recent news, and world news when it comes to investing. For now, let’s have a look at three mining stocks that are performing well in the market right now.
Top Mining Stocks To Watch
- IAMGOLD Corporation (NYSE: IAG)
- Avino Silver & Gold Mines Ltd. (NYSE: ASM)
- Gold Resource Corporation (NYSE: GORO)
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD develops and operates various gold mining properties in various countries. It currently operates out of North America, South America, and West Africa. IAMGOLD has active interests in the Essakane mine, Rosebel mine, and Westwood mine among many others in these locations.
Back in August, IAMGOLD released its second-quarter financial results for the year. This mining stock is still recovering from the pandemic at the moment. Despite this, IAG stock often moves up in the market when the price of gold itself does. Regardless, its revenue, gross profit, and adjusted EBITDA performed less than favorable during the second quarter of the year.
The President and CEO of the company said, “The second quarter of 2021 was challenging primarily because production from our Rosebel mine was unexpectedly adversely affected by unusually heavy rains and an increase in COVID-19 cases in Suriname, in addition to difficult industrial relations.” Despite the challenges the company faced in the last year, IAG stock is moving upwards in the market at the moment. It will be interesting to see what the future performance of the company is going into the second half of September. Now that you know this info, will IAG make your list of mining stocks to watch?
Avino Silver & Gold Mines Ltd. (NYSE: ASM)
Avino Silver & Gold Mines Ltd. is a mining company that acquires, explores, and mines at various mineral properties. The company’s properties are located in Mexico and Canada. It actively owns 42 mineral claims and leases four mineral claims. Avino also has 24 exploitation concessions covering over 1200 hectares of land.
Back in August, the company reported its second-quarter financial results for 2021. It had mine operating losses of $1.7 million and an ending cash balance of $26.8 million. President and CEO David Wolfin said, “During the second quarter, the Company focused on the steps necessary for the resumption of operations. These included hiring mine workers, upgrades to improve recoveries at the mill, testing the mill circuits, and clean-up of equipment, grounds, and facilities.” Keeping this new information in mind, will ASM enter your mining stock watchlist?
Gold Resource Corporation (NYSE: GORO)
Gold Resource Corporation is a company that engages in the exploration, development, production, and selling of gold. It also searches for minerals like silver, copper, lead, and zinc at various deposits. Its operations are run in the US and Mexico. Primarily, Gold Resource Corporation focuses on the Aguila project holding 18 mining concessions on land of more than 24,000 hectares in Mexico.
On September 7th, the company announced that it will acquire Aquila Resources to form a diversified North American precious and base metals producer. Executive Chair Barry Hildred said, “We believe strongly that this Transaction provides substantial immediate and long-term benefits to Aquila shareholders. The business combination with GORO, a proven operator of a cash-flowing mine in the Americas, materially de-risks the financing and development of the Back Forty Project. The Transaction also allows our shareholders to maintain exposure to the value that is created as Back Forty advances towards production.” Will you add GORO stock to your watchlist noting this new info?
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