Mining stocks have had a fantastic year and a half. During this time span, many companies in this industry have set new highs. It all began with the pandemic, which caused the cost of resources such as gold and silver to skyrocket. This has resulted in a slew of mining stocks to keep an eye on in 2020. But, given that we are now in the year 2021, what is the present situation of these stocks?
Mining stocks have not performed as well in 2021 as they did in 2020. Having said that, there are still lots of assets that have appreciated in value this year. The mining sector’s monarchs last year were gold stocks, silver stocks, and lithium stocks. Materials like copper, steel, and iron ore are rapidly increasing in value this year. Mining penny stocks are especially volatile because of their low cost. These stocks can result in large percentage gains or losses in a single trading day.
Many people are concerned about the impact of inflation on the market right now. Nobody knows which direction mining stocks will move in as a result of this. Many mining corporations are already publishing their second-quarter financial results for the year 2021. This can often indicate the direction in which a company is heading. Examining global news, industry news, and other company news can also assist in determining when to invest. For example, if a material is in short supply and demand rises, the price of that material may rise. This, in turn, will have an effect on the mining stocks involved. So, what are the best mining stocks to invest in right now? Before investing, it’s usually a good idea to check a company’s charts and volume. So which mining stocks are trending in the market at the moment?Top Mining Stocks To Watch Under $5
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Yamana Gold Inc. (NYSE: AUY)
- IAMGOLD Corporation (NYSE: IAG)
Harmony Gold Mining Corporation Limited is a company that specializes in gold exploration, extraction, and processing. The company’s operations are based in South Africa and Papua New Guinea. It also looks for uranium, silver, and copper reserves. As a result, the price of HMY stock often rises when certain metals perform well. In the Witwatersrand Basin, it operates nine underground projects.
Earnings and revenue for the fiscal year 2021 increased year over year, according to the company’s most recent update. This is due to rising metal prices and the company’s excellent performance. The price of gold, silver, uranium, and copper affects the price of HMY shares. Harmony is most affected by gold, as it is the major material it seeks for. HMY stock is up 4.61 percent in the market today, October 13th. Considering this info, will HMY make your list of mining stocks to watch in mid-October?Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc., a mining stock, increased by more than 4% on October 13th. In Brazil, Chile, Canada, and Argentina, the corporation produces precious metals. Yamana is interested in assets in the development stage, exploratory properties, and land positions. The corporation manufactures both gold and silver at these locations.
Yamana recently released encouraging exploration data from its operational mines. It chose new zones and targets for each of its activities. In addition, the Wasamac project’s preliminary exploration drill results were recently disclosed. The price of gold and silver has a big impact on the AUY stock, maybe more so than its updates.
After the market closes on October 28th, 2021, the company plans to release its third-quarter earnings. On the same day, Yamana will present an operational update and have a conference call. It will be curious to see how these fresh developments affect the market price of AUY stock. Keeping this in mind, will AUY be on your mining stock watchlist right now?IAMGOLD Corporation (NYSE: IAG)
Another mining penny stock that has recently risen in value is IAMGOLD Corporation. This is a gold mining company that develops and operates gold mines. The corporation is involved in gold, silver, and copper exploration and development. It now has stakes in the Rosebel and Westwood mines, as well as the Pitangui project.
The corporation released its financial statistics for the second quarter of this year in early August. This was a difficult period for IAMGOLD, which is still recovering from the pandemic and economic difficulties of the previous year and a half. IAMGOLD’s revenue has decreased from quarter to quarter and year to year. Gross profit and adjusted EBITDA both fell short of expectations. It also recorded a net loss instead of net earnings.
Despite these disappointing results, IAG’s stock has been rising in value. IAMGOLD recently announced the date for the presentation of its third-quarter results. After the market closes on Wednesday, November 3rd, 2021, these results will be revealed. If you’re planning to buy IAG shares, this is the next important date to keep an eye on. With these upcoming results in mind, will IAG stock be on your watchlist?Hot Mining Stocks To Buy?
The stock market is often turbulent and perplexing. As a result, it’s best to concentrate on research and investing carefully. Nobody knows what will happen to mining stocks in the market as long as inflation fears persist and the pandemic roars on. As we approach mid-October, we’ll see what happens to mining stocks. Which companies will you add to your watchlist for the time being?