Which mining stocks are you watching this week?
When the pandemic first hit in 2020, the growth of mining stocks was utterly unforeseen. Mining stocks started to rebound, and many of them reached new highs. So, one year later, what has happened? The declining pandemic numbers appear to be helping mining stocks maintain their momentum in the final months of 2021. This is attributable to increased industrial material use and higher retail sales.
When it comes to mining stocks, many people gravitate toward gold and silver-related companies. When wanting to invest in the mining industry, there are a variety of different types of mining stocks to consider. Lithium stocks, for example, have risen in popularity during the last year. Because of their relationship to electric vehicles, this is the case. Steel stocks do well as the metal’s demand and price rise. There are additional stores of uranium, copper, and a variety of other metals.
There are numerous factors to consider when investing in mining stocks, regardless of the sector. World news is crucial since it has an impact on all stocks, particularly mining stocks. Jobless claims statistics, real estate data, and other factors influence the price of mining companies. It’s not always easy to figure out which mining stocks are ideal for you. Let’s take a look at three of these stocks to look out for this month.
Top Mining Stocks To Watch
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a gold mining company that develops and runs properties in several countries. It is based in North America, South America, and West Africa at the moment. IAMGOLD is a shareholder in the Essakane, Rosebel, and Westwood mines, among many others in these areas.
Last Friday, one of IAMGOLD’s mine convoys at its Burkina Faso mine was attacked. Now on November 1st, the company has stated that the two individuals missing following the event have been safely located. This was a convoy transporting staff and contractors, with 33 people in total in buses and three supply trucks. The company said, “The Essakane mine site remains secured and our operations are not affected.”
This is IAMGOLD’s largest operating mine, which produced 364,000 ounces of gold last year. This was more than half of its overall production in total. Now on November 1st, IAG stock has a much higher volume than average in the market. In fact, its volume is more than double its current average. So will IAG be on your list of mining stocks to watch?
Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold Corporation is a mining company that explores, discovers, acquires, develops, produces, sells, and reclaims mineral products of various types. As well as the company’s cash. Eldorado’s main interests include gold, silver, lead, zinc, and iron ores. Kisladag and Efemcukuru in Turkey, Lamque in Canada, Olympias and Stratoni in Greece are the five mines it currently runs.
On October 28th, the company reported its third quarter financial and operational results. Its quarterly production beat expectations during this period. As a result, Eldorado has increased its annual guidance by 6% to 460,000-480,000 ounces of gold. Its gold production quarter over quarter went up by 8%.
President and CEO George Burns said, “Our organic growth projects at existing operations remain on track with the Kisladag HPGR and Lamaque decline projects expected to be completed in the fourth quarter, allowing us to realize the benefits of these projects early next year.” With this new info in mind, will EGO be on your mining stock watchlist right now?
Rio Tinto Group (NYSE: RIO)
Rio Tinto Group is a mining company that finds, mines, and processes a variety of minerals. Aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium, salt, iron ore, and uranium are Rio’s principal products. Rio smelts aluminum and engages in a variety of mining activities. Rio Tinto stated in April that it had started producing lithium. A demonstration facility has begun production, with an annual output of 10 tons predicted. Following this factory, the corporation will decide whether to invest $50 million in a full-scale plant.
On October 28th, it was announced that Rio Tinto and BlueScope have partnered up to explore low-carbon steelmaking pathways. The company will do this using Pilbara iron ores and clear hydrogen to replace coking coal at BlueScope’s Port Kembla Steelworks. The companies will prioritize studying the use of green hydrogen at this location to reduce Pilbara iron ores.
Iron Ore Chief Executive at Rio Tinto, Simon Trott said, “This partnership will benefit from BlueScope’s experience and know-how in using electric melters at its New Zealand steelworks, Rio Tinto’s experience in the Atlantic direct reduction market and the R&D capability and the experience of both Rio Tinto and BlueScope in iron ore processing.” Based on this new info, will RIO stock be on your watchlist in November?
Best Mining Stocks To Buy?
It might be tough to decide which mining stocks are the best to invest in. Many mining stocks in various sectors are constantly rising and falling. As a result, while buying or selling mining stocks, developing an investment strategy can be extremely beneficial. It might be as simple as looking up the most recent news from across the world, the industry, and the firm. Looking at a mining stock’s volume can also be quite informative. So, armed with this knowledge, which mining stocks will you be adding to your watchlist in November?
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