Which mining stocks are going up right now?
Mining stocks are known for moving in synch with metal prices. When the pandemic began last year, the price of mining stocks plummeted significantly. That was until investors understood the assets’ worth. This was the point at which the value of mining stocks began to skyrocket. Gold and silver stocks are the most common types of mining assets. In 2020, gold and silver prices reached all-time highs. This resulted in a significant increase in the value of the stocks during the year.
There are also lithium stocks that have recently performed exceptionally well. As a result of the electric car boom, these stocks have been performing nicely. Lithium-ion batteries are used in electric vehicles, which is why the market for lithium stocks has exploded. Copper, iron, steel, and uranium are just a few of the major mining sectors to keep a watch on.
At the moment, there are concerns about inflation, and no one knows what impact this will have on mining stocks. However, if there is a significant amount of inflation, it will likely affect most, if not all, mining equities. There are still a lot of mining equities that are rising in value right now. These businesses often do well when the products they seek become more expensive. So, let’s take a look at three mining stocks that have a lot of upsides.
Top Mining Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc., a mining penny stock, is up 1.55 percent today, November 9th. This Canadian corporation is a precious metals producer. The company currently holds properties in the development stage, gold and silver production properties, exploration properties, and land positions in the Americas. Yamana has active assets in Canada, Chile, and Argentina.
Yamana released its financial and operational results for the third quarter of 2021 on October 28th. The corporation indicated that it is on pace to meet its year-end targets. Its net income was $27 million, or $0.03 per basic and diluted share. Its mine operating earnings increased by 8% quarter over quarter to $154 million. Yamana’s cash flows from operating activities increased by 24 percent during the quarter.
This solid quarter has translated into a strong result for AUY shares. AUY stock has risen significantly in the market during the last five days. On October 28th, the company declared its fourth-quarter dividend of $0.03 per share. If you are a shareholder as of December 31st, 2021, you will receive this on January 14th, 2022. Will AUY stock be on your watchlist this week, based on this new information?
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining stock that is now up 2.6 percent in the market. This is a mining company that owns and runs a number of sites in Canada. At its mineral properties, New Gold looks for gold, silver, and copper deposits. It owns a 100 percent stake in the Rainy River mine, the New Afton mine, and other properties.
The corporation released its third-quarter operational results on October 13th. During this time, New Gold produced a total of 105,628 gold equivalent ounces. Its Rainy River and New Afton mines each produced 60,785 and 44,843 gold equivalent ounces. Its gold equivalent production fell during the third quarter due to fewer tons milled.
President and CEO of New Gold, Renaud Adams said, “We remain on track to deliver on our updated guidance, and we continue to make progress towards securing the Company’s future growth at both assets. Our liquidity position improved for a third consecutive quarter, and I continue to expect meaningful free cash flow generation from our operations in the near-term”. Will NGD be on your mining stock watchlist right now?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a mining corporation that we’ve mentioned on this site before. This is a uranium mining corporation based in Canada. Denison’s primary business is uranium exploration and development. The Wheeler River uranium project in northern Saskatchewan is the company’s flagship project. Denison Mines Corp. is a penny stock that just increased 7.25 percent in the market on November 8th. This is a uranium mining corporation based in Canada. Denison’s primary business is uranium exploration and development. The Wheeler River uranium project in northern Saskatchewan is the company’s flagship project.
The corporation released its financial results for the third quarter of 2021 on November 4th. Denison successfully conducted ISR field test efforts at the Phoenix uranium deposit during this time. The realization of commercial-scale production flow rates comparable to those in the Wheeler River project’s pre-feasibility study in 2018 was included. Phoenix has now moved to the feasibility study stage, with Wood PLC leading and authoring the research.
President and CEO of Denison, David Cates said, “Our recent In-Situ Recovery (‘ISR’) field test results reflect several years of progress made towards systematically de-risking the use of the ISR mining method at the high-grade Phoenix deposit – culminating in the successful, and first of its kind, field test of a commercial-scale well pattern located in the expected first phase of the Phoenix orebody.” Will DNN make your list of mining stocks to watch in November?
Top Mining Stocks To Buy?
The mining stocks sector is frequently volatile and perplexing. As a result, focusing on research and investing intelligently is advised. Nobody knows what will happen to mining stocks in the market as inflation fears persist. What happens to mining stocks as we approach November 2021 will be determined by time. For the time being, which companies will you add to your watchlist?
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