Will these mining stocks increase this month?
The COVID-19 issue caused many mining stocks to set new highs in 2020. Supply chain difficulties and shortages impacted the price of gold stocks in 2021. Now, investors are asking how gold will fare in 2022. Metals and materials prices soared as the economy tanked. The fundamental reason for the rally was increased demand and increased scarcity. When most people think of mining stocks, they think of gold and silver stocks. Last year, both of these assets achieved new highs.
So you might be wondering where things stand now in 2021. At the very beginning, mining stocks took off but then pulled back. For a while, gold and silver assets could not reach past key price points. This is when copper, lithium, iron ore, and other mining stocks took an opportunity to rise up in the market. Now in December 2021, gold is in the $1,774 per ounce price range.
Many people think of gold and silver stocks when they think about mining assets. In reality, there are numerous different types of mining stocks. Companies in this category include those that look for copper, steel, uranium, lithium, lead, and other minerals. Bitcoin mining stocks, for example, can be considered for this type of asset.
Top Mining Stocks To Watch
Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc. is a mining corporation that searches for, develops, and manufactures mineral resources. Gold, silver, zinc, and lead are examples of these resources. It actively owns 100% of the Palmarejo mine, the Rochester mine, the Kensington mine, the Wharf gold mine, and many other mines. It will sell its concentrates to third-party refiners and smelters across the country. The United States, Switzerland, and Japan are among the countries represented. Property owned by the corporation can be found in Mexico, Nevada, Alaska, South Dakota, and Canada.
On October 27th, the company reported its third quarter financial results for 2021. This included revenue of $208.0 million and cash flow from operating activities of $21.8 million. The Company reported a GAAP net loss from continuing operations of $54.8 million, or $0.21 per share, which included a $26.0 million non-cash write-down of Mexican VAT refunds and a $35.7 million non-cash unrealized loss on strategic equity investments, primarily related to Coeur’s 18% equity ownership of Victoria Gold Corp. (“Victoria”) during the quarter.
President and CEO Mitchell J. Krebs said, “Our third quarter results reflect our strategy of elevated near-term investment in our balanced platform of North American assets to generate attractive returns and long-term, sustainable free cash flow, from lower cost, longer life precious metals assets”. Up 2.5% on December 6th, will CDE be on your list of mining stocks to watch?
Hecla Mining Company (NYSE: HL)
Hecla Mining Company is a mining firm that specializes in the discovery, acquisition, development, and production of precious metals and base metal resources. It primarily sells unrefined gold and silver bullion bars, as well as lead and zinc. Hecla now owns a 100 percent stake in a number of mines, including the Greens Creek Mine, the Lucky Friday Mine, and the Casa Berardi Mine. So, what is behind the current increase in the value of Hecla stock?
On November 30th, the CEO and President of Hecla, Phillips S. Baker, Jr., participated at the H.C. Wainwright Mining Conference. Mr. Baker also presented at the Scotiabank Mining Conference on Wednesday, December 1st at 9:30 a.m. On this same date, the Senior Vice President, Chief Financial Officer, and Treasurer, Mr. Russell Lawlar participated in the BofA Securities Leverages Finance Conference. Amid these developments and up in the market, will HL be on your mining stock watchlist?
Galiano Gold Inc. (NYSE: GAU)
Gold penny stocks, like Galiano Gold Inc., have outperformed typical gold securities in the market. Galiano Gold is a Canadian exploration, development, and production firm. The Asanko Gold Mine in Ghana, West Africa, is one of the company’s gold holdings. As a result of higher gold prices, this company achieved great momentum.
On November 10th, the company reported its third-quarter results for 2021. During the quarter, Galiano produced 49,543 ounces of gold. 159,963 ounces have been produced so far this year. Due to lower mined grades at Esaase and the resultant impact on plant recovery, full-year gold production has been reduced from 225,000-245,000 ounces to 215,000-220,000 ounces.
The President and CEO OF Galiano, Matt Badylax said, “Although an increased proportion of Akwasiso contributed to mill feed for the quarter relative to Q2, grades at Esaase remained below expectations resulting in lower production in Q3. We expect these lower grades to persist through Q4 and as a result, we have revised production guidance for the year to 215,000-220,000 ounces”. Noting this, will GAU stock enter your mining watchlist in 2021?
Top Mining Stocks To Buy?
Mining stocks are increasing in value as the pandemic starts to fade. Industrial and retail demand is continuing to rise, which is benefiting all types of mining equities. Even lithium stocks have risen in value as sales of electric vehicles increase. Yes, mining equities are still volatile right now. But which companies are you going to add to your watchlist?
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