Will these mining stocks be on your watchlist?
It is easy to see how new information can influence the price of mining stocks. This demonstrated its full capabilities last year, which was a news-filled year. As a result of the pandemic, mining stocks have consistently reached new highs in the market. The soaring prices of precious metals such as gold and silver to all-time highs are to blame. News is vital since it is a source of information that could have an impact on the industry.
However, world news is not the only form of news to keep an eye out for when investing in mining stocks. Sector news is also critical for obvious reasons. Company updates for firms on your watch list that are of interest to you can often determine whether or not you wish to invest. Mining progress, controversy, closures, updates, financials, and other factors can all have an impact on this decision-making.
Mining equities should not be bought in the heat of the moment. Some analysts say mining stocks have no future in the stock market. However, many investors earn from mining stocks, therefore this is simply not the case. Let’s take a look at three mining stocks that are performing well right now.
Top Mining Stocks To Watch
- Fortuna Silver Mines Inc. (NYSE: FSM)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- IAMGOLD Corporation (NYSE: IAG)
Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines is a precious metals exploration, extraction, and processing enterprise. The firm is on the lookout for silver, gold, zinc, and lead deposits. Its principal assets are the Cayloma and San Jose mines, while it also administers the Lindero Gold Project.
On October 12th, the company reported a record third-quarter 2021 production of 87,950 gold equivalent ounces. Its total gold production in the quarter was 26,235 ounces comprised of 24,318 ounces in dore and an increase of 1918 ounces of gold-in-carbon inventory. Its gold production for the first nine months of 2021 totaled 68,088 ounces. This number is in line with its updated annual guidance.
The company stated that “Gold production was 1,529 ounces, an increase of 12 percent over the third quarter of 2020. The increase in production is due to higher head grades located in the Animas NE vein. Gold production for the first nine months of 2021 totaled 4,712 ounces, which is above plan.” Based on this new info, will FSM stock be on your watchlist right now?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining stock we have mentioned a lot on goldstocks.com before. This is a gold exploration, extraction, and processing company. South Africa and Papua New Guinea are where the company’s operations are based. It also looks for reserves of uranium, silver, and copper. As a result, when certain metals do well, the price of HMY stock often rises. It has nine underground projects in the Witwatersrand Basin.
According to the company’s most recent update, earnings and sales for the fiscal year 2021 grew year over year. This is due to the company’s great success and rising metal prices. The price of HMY shares is affected by the price of gold, silver, uranium, and copper. Gold has the greatest impact on harmony because it is the primary material it looks for. The company’s stock price has experienced a lot of ups and downs in the last month. Keeping this in mind, will HMY be on your mining stock watchlist?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is another mining stock that has performed well over the last month. This company explores for, develops, and operates gold mining properties. These mining properties are located in the Americas and West Africa. It currently has an interest in the Rosebel mine, Essakane mine, Westwood mine, and many more.
On October 19th, the company provided its preliminary operating results for the third quarter of 2021. All of its mines delivered very positive results during this time. The company’s Essakane mine delivered production numbers in line with the prior quarter and achieved an average recovery of 83% at 3.3 million tons. The Rosebel mine produced positive results during this period too.
Gordon Stothart, the President, and CEO of IAMGOLD said, “We achieved attributable production of 153,000 ounces during the third quarter and are pleased that our total attributable production is trending towards the upper end of the guidance range. Essakane continues to deliver strong results and Rosebel is performing in line with the updated plan. Production at Westwood was lower than plan, although underground mine productivity is improving while we continue to prioritize implementing safety measures as part of the business recovery plan.” IAG stock has gone from $2.28 per share to $2.71 per share as of November 3rd. With this in mind, will IAG be on your list of mining stocks to watch?
Best Mining Stocks To Buy?
It’s difficult to know which mining stocks are the top to buy. 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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