Will you be watching these mining stocks?
Many mining stocks reached new highs last year as a result of the outbreak. When the economy began to falter, the price of metals and resources rose. This occurred as a result of increased demand and scarcity. This happened to the two most regularly traded mining niches, gold stocks, and silver stocks. In mid-2020, both gold and silver reached all-time highs.
Why has gold remained at this price despite much economic recovery? As you may be aware, gold often performs well when the currency is weak or the economy is weak. Even while the economy is improving, it is primarily occurring in the United States and a few other countries. Even if the world’s shortages and logistics issues were solved tomorrow, a lot of harm has been done that will take time to undo. As a result, gold has stayed bullish.
Sector news, company news, and other information are all vital. We are in the thick of third-quarter results season in November, and many mining stocks will rise and fall. As a result, it will be interesting to see how the market reacts. In 2021, there are a plethora of excellent mining stocks to keep an eye on. Let’s take a look at several to keep an eye on.
Top Mining Stocks To Watch
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a corporation that specializes in mineral resource discovery, development, production, and sales. Silver, gold, and copper are among the metals sought by this company. It holds 100% of the El Gallo project, the Fenix project, the Black Fox mine, and a slew of other projects. It has hotels throughout Mexico, Canada, Argentina, and the United States that it owns and runs.
On November 3rd, McEwen released their third-quarter results for 2021. The company indicated that it is on track to meet its 2021 production goals. The company believes it has made significant progress in terms of operations and finances. As of September 30th, 2021, McEwen has $72.7 million in cash and liquid assets and $45.8 million in working capital.
The company stated, “We continue to execute our turnaround strategy and have made significant progress both from an operational and a financial perspective. We expect this trend to continue with the ongoing production ramp-up from the Froome deposit at the Fox Complex.” Will MUX make your watchlist?
IAMGOLD Corporation (NYSE: IAG)
On November 17th, IAMGOLD Corporation is a penny stock that is up 0.3 percent. This company is involved in the development and operation of gold mining sites in a variety of nations. North America, South America, and West Africa are where it now operates. The Essakane mine, the Rosebel mine, and the Westwood mine are among the mines in which IAMGOLD has an active stake.
On November 3rd, IAMGOLD announced its third-quarter results for 2021. On November 3rd, the company released its third-quarter results for 2021. IAMGOLD’s adjusted EBTIDA was $265.7 million, while its mine-site free cash flow was $121.6 million. IAMGOLD also had a total net loss of $20.1 million, or $0.04 per share, during the same time period.
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.” Now will IAMGOLD be on your mining stock watchlist?
Eldorado Gold Corporation (NYSE: EGO)
Eldorado Gold Corporation is a mineral resource exploration, discovery, acquisition, development, production, and sale firm. 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.
Eldorado announced on August 9th the commencement of a $500 million senior notes issue due in 2029. The funds will be utilized to redeem the company’s outstanding $234 million 9.500 percent senior secured second lien notes due June 2024.
The company also announced the sale of its Tocantinzinho Project to G Mining Ventures on August 9th. George Burns, President and CEO of Eldorado said, “This transaction provides Eldorado with immediate value for TZ, while also retaining meaningful exposure to future value creation through our equity stake in GMIN.” Noting this, will EGO be on your list of mining stocks to watch?
Top Mining Stocks To Buy?
It’s difficult to know which gold stocks are the finest to buy. Because the market is so volatile right now, it’s critical to perform a lot of research before investing. Many gold stocks are expected to rise in value in August 2021. So, which gold mining stocks are you going to keep an eye on?
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