Which mining stocks are on your October 2021 watchlist?
The COVID-19 situation in 2020 caused many mining stocks to reach new highs. Metals and materials prices surged as the economy collapsed. The fundamental reason for the spike was increased demand and more shortages. When it comes to mining stocks, the majority of people will look at gold and silver stocks first. Last year, both of these assets hit fresh all-time highs.
So, in 2021, you might be wondering where things stand. Mining stocks soared at first but then began to decline. For a long time, gold and silver assets were unable to break through significant price barriers. Copper, lithium, iron ore, and other mining stocks took advantage of the opportunity to increase in the market at this time. Many mining stocks are still heading upwards in the market this year.
What should you look for when investing in mining stocks, you might be wondering? There are a few key steps one can take to ensure that investing in a company is the informed option. The first and most obvious is to read the news from across the world. Consider how the pandemic impacted and continues to impact the mining industry. News from the industry is also crucial; things like shortages and growing demand are useful bits of information to know. Let’s take a look at three mining stocks that are performing well in the market as we head into mid-October.
Best Mining Stocks To Watch
- McEwen Mining Inc. (NYSE: MUX)
- IAMGOLD Corporation (NYSE: IAG)
- Harmony Gold Mining Company Limited (NYSE: HMY)
McEwen Mining Inc. (NYSE: MUX)
On October 14th, the mining stock McEwen Mining Inc. saw its shares rise 1.69 percent in the market. This is a business that searches for, develops, manufactures, and sells various resources. Silver, gold, and copper make up the majority of the company’s sales. It has a 100 percent stake in the El Gallo project, the Fenix project, the Black Fox mine, and many more projects. Mexico, Canada, Argentina, and the United States are among the countries where it has properties.
McEwen announced its consolidation production for the third quarter of 2021 on October 6th. In the same period last year, the business reported 30,400 gold equivalent ounces, compared to 42,900 this year. McEwen was able to achieve his target thanks to 32,100 ounces of gold and 792,000 ounces of silver production. Its consolidated production for the nine months ending September 30th, 2021 was 114,300 gold equivalent ounces, up from 85,700 in 2020.
This signifies that its output this year is approaching the midpoint of its annual projection range. McEwen just completed commercial production at the Froome deposit three months ahead of plan. Noting this new info, will MUX be on your list of mining stocks to watch right now?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD is a gold mining business that searches for, develops, and runs a few gold mines. The Americas and West Africa are the locations of these properties. It now owns the Rosebel mine, the Essakane mine, the Westwood mine, the Diakha-Siribaya project, and a number of other assets. This company just experienced an uptick in its stock price on October 14th, 2021.
Read More – Top Mining Stocks To Watch Under $5
IAMGOLD hasn’t made any recent announcements. However, the business aims to reveal its third-quarter financial figures for 2021 on Wednesday, November 3rd. After the market closes on that date, these results will be revealed. The next day, IAMGOLD will host a conference call with management to explain the situation. Now on October 14th, IAG stock has increased by nearly 2%. Keeping this in mind, will IAG be on your mining stock watchlist?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited, a mining stock we’ve mentioned on goldstocks.com before, has recently performed well in the market. This is a company that recovers and processes gold, silver, copper, and uranium from mines. Its activities are based in South Africa and Papua New Guinea, both of which have proven to be favorable to Harmony.
Harmony recently released an operating report for the fiscal year ending June 30th, 2021. The company’s sales climbed by 45.2 percent year over year throughout this time period. Furthermore, its net debt decreased by 52% year over year. Although the company’s performance was good, it was not the sole factor for determining its stock price. The stock price of HMY fluctuates on the market in tandem with gold prices. Will you add HMY stock to your watchlist this month as a result of this information?
The Future of Mining Stocks
The world will see how the market reacts if mining stocks continue to rise as the pandemic slowly diminishes. At the moment, the world is still in a constant state of change. Materials are increasing in value as industrial demand and retail sales both rise. So, which mining stocks will you add to your portfolio in mid-October?
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