There are various things that are impacting the price of mining stocks right now. The first of which is the COVID-19 pandemic. In the United States, the pandemic has calmed down a lot and most restrictions have been lifted. In many other countries though, COVID-19 is still a big issue. The pandemic caused many material prices to skyrocket last year, and many are still performing well this year.
So you may be wondering now, which mining stocks are performing well? Well, one sector that is performing well is lithium stocks. Lithium-based mining companies have been performing well for one primary reason. Electric vehicles have taken the world by storm in the last decade. Traditional gold and silver mining stocks are also performing well at the moment. There are many other sectors to watch as well, including uranium, steel, copper, iron ore, among others.
There are a few steps that you may want to take before investing in mining stocks. The first of which is keeping up with all of the news in the sector, as well as world news. Looking at the volume of a mining stock could indicate if it is going to move up or down soon as well. Basically, do not just blindly invest in mining stocks. Some think that there is no potential for mining stocks in the market. But this is simply not true, as many investors are making profit with mining stocks. So let’s have a look at three mining stocks that are performing well at the moment.Top Mining Stocks To WatchHecla Mining Company (NYSE: HL)
Hecla Mining Company is a mining stock that discovers and produces precious metals. Some of its products include unrefined gold and silver bullion bars, lead, and zinc. The company operates the Greens Creek mine, Lucky Friday Mine, and Casa Berardi mine among others.
On August 5th, Hecla released its second quarter 2021 results. The company’s sales increased by 31%, and its gross profit went up $25.2 million.
The President and CEO Phillips S. Baker Jr. said, “We generated over $54 million of free cash flow due to a combination of lower treatment charges, increasing throughput and recoveries, and higher prices. Our American silver mines produce more than 40% of all the silver mined in the United States and with silver being important for the transformation to renewable energy, electric vehicles and 5G, Hecla’s growing silver production and low costs make it well-positioned for even better results in the future.” Keeping these new results in mind, will HL make your list of mining stocks to watch?Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc. is a mining stock that explores for, develops, and produces various mineral resources. Primarily, these consist of gold, silver, zinc, and lead. It has interest 100% in the Palmarejo mine among many others like the Rochester mine. So how is Coeur performing in 2021 so far?
Well, Coeur reported its second quarter results on July 28th. The company’s revenue and cash flow grew year over year. Its gold production went up 2% quarter over quarter, and expects stronger in the second half of the year.
The President and CEO Mitchell J. Krebs said, “We anticipate production to continue increasing during the second half of 2021, particularly from our Wharf and Rochester operations, and expect to achieve our full-year production guidance for both gold and silver. We also accelerated investment on the POA 11 expansion project at Rochester during the quarter.” With this new report in mind, is CDE a contender for your mining stock watchlist?MAG Silver Corp. (NYSE: MAG)
MAG Silver Corp. is a mining stock that acquires land, explores, and develops mineral properties. Its main goals are finding silver, gold, lead, and zinc deposits. MAG is actively holding a 44% interest in the Juanicipio project in Mexico. This project is a 56% / 44% joint venture with Fresnillo plc.
On August 5th, MAG Silver reported its drill results from Juanicipio for 2020. The President and CEO Goerge Paspalas said, “As we begin ramping up into full scale production it is a rare luxury to be firming up and extending the deep mineralization that has high potential to add tonnes, grade and years to our mine life. We are delighted to continue seeing the consistent high grades, thicknesses and continuity at depth that we have come to expect from the Valdecañas Vein System, but we are equally pleased that the detailed definition drilling is helping to get the entire operation off on the right foot through better understanding of the top of the vein” Will CDE stock enter your watchlist in August?Top Mining Stocks To Buy?
There are many great contenders for a mining stock watchlist in August 2021. It is important to stay up to date on the latest that is happening in the sector. Shortages, surplus, price changes, and more all impact the price of various materials. So which companies will make your list of mining stocks to watch this year?