Will you keep your eye on these mining stocks?
The year 2021 has been a fascinating one for mining stocks. 2020 was a defining moment for mining equities as we know them today. Due to soaring material and metal costs, mining stocks skyrocketed in value as a result of the pandemic. With commodities like gold and silver, this was evident to investors.
Some people are unaware that there are many other mining industries that have performed well in the recent year apart from gold and silver. Copper and lithium stocks, for example, have performed exceptionally well in the market too. This was partly due to the rise in popularity of electric automobiles. Steel, aluminum, and uranium are other examples of mining stocks that have grown in popularity.
What is the best way to invest in mining stocks? Choosing the proper company for you isn’t as difficult as it may appear. Looking at what’s going on in the world can be quite beneficial, as global news has a significant impact on mining stocks. When it comes to mining stocks, industry news is critical. This can involve things like supply shortages, demand, and closures, among other factors. When investing, it’s also crucial to keep up with company-specific news so you know where a company you’re interested in is at. Let’s look at three mining stocks that are performing well in the market, or have potential.
Top Mining Stocks To Watch
- Pan American Silver Corp. (NASDAQ: PAAS)
- Sandstorm Gold Ltd. (NYSE: SAND)
- NovaGold Resources Inc. (NYSE: NG)
Pan American Silver Corp. (NASDAQ: PAAS)
Pan American Silver Corp. is a mining stock that is up nearly 3% in the market today. This company is involved in silver mine exploration, development, extraction, processing, refining, and reclamation. Mexico, Canada, Argentina, Peru, and Bolivia are all home to its mines. After its processes, the corporation sells its gold, zinc, lead, and copper to various sources.
The corporation released its second-quarter financial results for 2021 on August 10th. During the quarter, the company produced 142.3 ounces of gold consolidated. In 2021, it earned $382.1 million in revenue.
The President and CEO of Pan American Silver, Michael Steinmann said, “We expect cash flows to further improve in the second half of the year, with the anticipated rise in throughput rates at La Colorada along with the normalization of inventory levels that were built up during the first half of 2021.” As its volume is higher than average in the market, will PAAS be on your list of mining stocks to watch?
Sandstorm Gold Ltd. (NYSE: SAND)
Sandstorm Gold is a gold royalty company that obtains gold and other purchase agreements from different sorts of mining corporations. The firms in question are actively developing or operating mines in various stages of development. Sandstorm pays up front for gold streams or royalties, and it has the right to buy a share of the production for the mine’s whole life.
On October 6th, the company announced that it has increased its credit facility to $350 million. The ESG Revolving Loan incorporates sutainability-linked incentive pricing terms. This allows Sandstorm to reduce the borrowing costs by up to 5 basis points as its sustainability targets are met.
CFO of Sandstorm, Erfan Kazemi said, “We’re pleased to announce that Sandstorm is the first royalty company with a credit facility linked to sustainability goals. With this credit agreement, the Company is helping to lead a new era of corporate lending that benefits shareholders while promoting corporate responsibility.” In the last 5 days, SAND stock has gone up in the market. With this in mind, will SAND be on your mining stock watchlist?
NovaGold Resources Inc. (NYSE: NG)
NovaGold Resources Inc. is a mining stock that has gone up in price in the last month. This is a company that explores for and develops gold mineral properties all over the United States. Its main asset is the Donlin Gold project located in Alaska of which it owns 50% of. Donlin Gold is regarded to be one of the biggest highest-grade and most prospective known open-pit gold deposits in the world.
On September 29th, the company reported its third-quarter results for 2021. During this period, the Donlin Gold region stayed free of COVID-19. The company’s key permits and financial position grew stronger during this quarter as well. The Donlin Gold LLC Board approved additional 2021 funding for new feasibility study prework. Now on October 7th, the company has increased in stock price. Keeping this in mind, will NG stock be on your October watchlist?
Top Mining Stocks To Buy?
It’s difficult to know which mining stocks are the safest to invest in. There are numerous factors to consider before investing in mining stocks. However, doing extensive study and determining what is ideal for you will be quite beneficial during the process. Which mining stocks will you be keeping an eye on for the time being?
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