Which mining penny stocks will make your watchlist right now?
Mining penny stocks will outperform the market for a variety of reasons. Much of this was visible in the previous year when the value of gold and silver stocks surged. It all started with the pandemic at the start of 2020. The dollar’s value fell, causing the stock prices of several mining corporations to climb. This is due to the fact that when the economy was bad, investors turned to physical assets such as gold. There is still a lot of market instability affecting mining penny stocks in 2021.
Mining companies have underperformed in 2021 compared to 2020. Having said that, there have been many assets that have increased in value this year. Last year’s mining sector leaders were gold stocks, silver stocks, and lithium stocks. Copper, steel, and iron ore are among the mining sectors that have rapidly increased in value over the last year and a half.
Many mining companies are currently releasing their fiscal year 2021 third-quarter financial reports. This can frequently suggest the direction in which a company is heading. Examining worldwide news, industry news, and other company news can also help you decide when it’s time to invest. For example, if a resource is scarce and demand increases, the price of that substance may rise. Let’s take a look at three mining penny stocks that are currently performing well in the market.
Top Mining Penny Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining business that produces precious metals. The firm mines gold and silver in a variety of countries. It also has assets under development, properties under exploration, and land positions all around the world. Yamana has activities in Canada, Brazil, Chile, and Argentina, among other places.
The corporation revealed its third-quarter results for 2021 on October 28th. Yamana stated that it is still on track to meet its target of 1,000,000 gold equivalent ounces by the end of 2021. Yamana reported $27 million in net earnings for the quarter, or $0.03 per basic and diluted share. Mine operating earnings increased by 8% year on year to $154 million.
Yamana is also working on a number of new projects at the present. One of these is Yamana’s Wasamac project, for which he offered a good report. All clearances, certificates of permission, and licenses are expected to be obtained by the third quarter of 2024. The construction and commissioning of the process plant is expected to take roughly 2.5 years, with an underground crusher and conveyor system scheduled to be operational six months thereafter. Will you add AUY to your list of mining penny stocks to watch?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a mining penny stock that is doing well right now. This is a mining corporation that explores for uranium at its many projects. Denison Mines Corp. holds 95 percent of the Wheeler uranium project in northern Saskatchewan’s Athabasca Basin. This is a mining stock that we’ve discussed extensively on this site in the past due to its strong market upward patterns.
The business announced a successful 2021 mining test on November 3rd, demonstrating the possibility of its proprietary Surface Access Borehole Resource Extraction, also known as “SABRE.” SABRE was used in a five-year test mining program at its McClean Lake location. The test’s last stage was just completed, with four mining cavities successfully excavated, yielding 1,500 tons of high-value ores.
“With this test result, SABRE has proved that it is capable of mining high-grade uranium ore in the Athabasca Basin region,” stated David Cates, CEO and President of Denison. “As the MLJV’s operator, Orano has tirelessly progressed the required R&D activities as part of a long-term strategy for establishing a mining technology that might benefit our joint venture.” Will you be keeping an eye on DNN stock for your watchlist right now?
IAMGOLD Corporation (NYSE: IAG)
The gold stock IAMGOLD Corporation has recently outperformed the market. IAG stock is up more than 6.32 percent in the market on November 5th. This corporation identifies, develops, and operates gold mining assets throughout the world. The majority of these mining assets are found in the Americas and West Africa. IAMGOLD Corporation is involved in a number of mines, including Rosebel, Essakane, and Westwood.
The company released its third-quarter results for 2021 on November 3rd. In 2021, IAMGOLD reported attributable production of 448,000 ounces. In the same period, the company’s mine-site free cash flow was $121.6 million, and its adjusted EBITDA was $265.7 million. IAMGOLD also reported $1.2 billion in total available liquidity, including $728.3 million in cash and cash equivalents.
CEO and President of IAMGOLD, Gordon Stothart said, “The third quarter of 2021 saw improvement in our operating performance supported by the continued strong results at Essakane. Rosebel performed in line with the revised plan. Construction activities at Côté continue to proceed well, reaching 36% project completion at quarter-end. First steel installation of the plant building commenced in mid-October, and the project remains on track for commercial production in the second half of 2023.” Noting this new info, will IAG be on your mining penny stock watchlist?
Best Mining Penny Stocks To Buy Right Now?
Deciding which mining penny stocks you should buy can be a difficult choice. That is why it is important to conduct proper research when investing in the stock market. It will be interesting to see where mining penny stocks go based on the current market volatility. For now, which mining penny stocks will be on your list?
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