Searching For Mining Stocks To Buy? 4 To Know This Month
It is quite obvious how new news can affect the price of mining stocks. In 2020, this showed its full capabilities as it was a year full of news. The pandemic resulted in mining stocks reaching new heights in the market constantly. The rising prices of precious metals like gold and silver to record highs are the thing to thank for this. News is important as it is the way to get intel that could potentially impact the sector. But world news is not the only type of news you should look out for when investing in mining stocks. Sector news is very important as well for obvious reasons. Company updates for the companies of interest on your watch list can often dictate whether you want to invest or not. Things like mining progress, controversy, closures, updates, financials, and more can all impact this decision making.
So how are mining stocks being affected at the moment? Well, the biggest impact is obviously the pandemic. The rising numbers are allowing the price of gold and silver as well as other metals hold at the prices they are at relatively. Silver recently received a boost after reports that Reddit stock traders were moving their focus to the asset. Reddit traders denied this, and the metal quickly fell back down, although keeping $1.80 gains per ounce as of February 3rd. Lithium stocks are booming at the moment as well, as electric vehicles and electronics take off in popularity. Rare earth mining stocks are also seeing some momentum in the market. It is clear that mining stocks are a striving sector, but which are the best to watch? Let’s highlight 4 mining stocks to watch that have been trending upwards in the market.Top Mining Stocks To Buy Or Sell
- Great Panther Mining Limited (NYSE: GPL)
- Kirkland Lake Gold Ltd. (NYSE: KL)
- Gold Fields Limited (NYSE: GFI)
- Avino Silver & Gold Mines Ltd. (NYSE: ASM)
The first company to watch on this list of mining stocks is Great Panther Mining Limited. Great Panther Mining is a corporation that explores for silver, gold, lead, copper, and zinc ores at various mineral deposits. Great Panther’s mines comprise of the Tucano gold mine in Brazil, numerous properties in Mexico, and others. So let’s look at the company’s recent market performance and updates.
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Its latest significant update comes from January 14th. The company announced that it has achieved its 2020 guidance, with 150,051 gold equivalent ounces produced in the year. The President and CEO, Rob Henderson said, “We delivered on our 2020 production guidance and produced more gold last year than in 2019, despite the challenges of COVID-19. Our teams in Brazil, Mexico, and Peru did a tremendous job prioritizing health and safety, while still achieving profitable production and executing our exploration programs”.Kirkland Lake Gold Ltd.
Next up is Kirkland Lake Gold Ltd. Kirkland Lake is a gold mining company with a primary focus on acquiring, exploring, and operating different properties. These properties include the Fosterville Mine, Macassa Mine, and more. Most of its property is located in Australia and Canada. The company currently has an agreement with Newmont Corporation to explore its regional exploration opportunities on some properties. So how is Kirkland Lake Gold performing in 2021 so far?
The company announced the date for its fourth quarter and full year 2020 results on February 3rd. The conference call and webcast will take place on Thursday, February 25th, 2021 before the market opens. This is likely when the next uptick or fall of KL stock price should be expected. Financial and operational results from companies often dictate the direction its stock could move for a short or long period of time.Gold Fields Limited
The next mining stock is Gold Fields Limited. Gold Fields is a corporation that sells a variety of resources and accesses reserves. Its properties are in Chile, South Africa, Australia, Ghana, and Peru. It presently has 9 operating mines with an annual gold equivalent production of 2.2 million ounces. Furthermore, the company has gold mineral reserves of about 51.3 million ounces and mineral resources of 115.7 million ounces. Gold Fields Limited also has copper reserves of 616 million pounds and mineral resources totaling 882 million pounds. Let’s check out how the company has fared throughout 2021 so far.
GFI stock price was over $10 a share at the start of 2021. This recent dip in stock price could be attributed to the nonmovement of gold prices. But when the company releases an actual update that is likely to dictate the future of this mining stock. For now, GFI is a potential mining stock to watch.Avino Silver & Gold Mines Ltd.
Last up on this mining stock list is Avino Silver & Gold Mines Ltd. Avino is a mining business that acquires, explores for, mines, and advances various mineral properties. The company’s properties are located in Mexico and Canada. It actively owns 42 mineral claims, and leases four mineral claims. Avino also has 24 exploitation concessions covering 1200+ hectares of land. So how is the company performing this year?
One of Avino’s primary assets is silver. So on February 1st, when Reddit traders potentially caused silver prices to skyrocket overnight, ASM stock went up from $1.22 per share on average to as high as $2.82 a share on average. Now on February 9th, ASM stock price has settled back down at $1.48 per share on average. So it has still kept some of its gains from the uptick, but not nearly all of them. Just a few weeks ago the company reported a 60% increase in measured and indicated mineral resources to 75.9 million ounces of silver equivalent ounces.