There are plenty of reasons that mining stocks have been trending in the market. Mining stocks have experienced momentum like no other in the last year. This comes as gold and silver prices skyrocketed during 2020. At one point, gold was able to reach a new record high of above $2,000 per ounce last year. This momentum was very good for mining stock investors. But where do things stand in 2021 now?
Well, the pandemic is still roaring onwards at the moment. Although vaccinations have passed the number of infections, the number of infections are still extremely high. This has allowed metals like gold and silver to hold themselves at key price points. Gold is still above $1,800 per ounce as of February 8th. Silver actually increased in value recently, due to the media covering that Reddit traders boosted the sector.
Although Reddit users deny this, the metal still received a brief uptick in February 2021. Silver even touched above $29 per ounce at one point. But gold and silver are not the only mining assets that you could potentially invest in. There are many other sub sectors when it comes to mining stocks. One of these is lithium stocks. Lithium ion batteries are used in many products, such as electronics and electric vehicles. Notice anything about that last sentence? That’s right, those are two of the most upwards moving sectors of the last year. Many lithium companies have deals with brands such as Tesla. As a result, plenty of lithium related mining stocks have been performing well in the market. Rare earth metal related mining stocks have performed good as well. So now let’s look at the top mining stocks to watch in February 2021.Top Mining Stocks To Watch
- Yamana Gold Inc. (NYSE: AUY)
- U.S. Gold Corp. (NASDAQ: USAU)
- Hecla Mining Company (NYSE: HL)
- Southern Copper Corporation (NYSE: SCCO)
First up on this mining stock list is Yamana Gold Inc. Yamana is a precious metal producer that operates in a variety of locations around the world. Its locations include Brazil, Canada, Chile, and Argentina. The company will explore for gold and silver ores at these locations. It has interest in the Malartic mine, Cerro Moro mine, Minera Florida mine, and more. Let’s have a look at what Yamana’s company performance and stock performance has been like this year so far.
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On January 25th, Yamana released 2021-2023 guidance and a ten year overview. It expects production to be up or down 3% for about the mid point of the 2021-2023 period. The prodile itself should grow in gold production according to the company. It will be interesting to see what the first report that comes from the company directly is.U.S. Gold Corp.
The next mining stock to watch is U.S. Gold Corp. This is a gold and precious metal exploration company. It will develop property to search for gold, copper, silver, and zinc. It holds many locations such as the Copper KING Project, Keystone Project, and more. This company experienced some momentum back in 2020. So how is U.S. Gold Corp. performing now that we’ve reached 2021?
Its most recent update was on January 28th, 2021. The company announced a $9.6 million registered direct offering. This is a securities purchase agreement providing for purchase 914,136 shares of common stock at $10.54 per share. In the last 5 days, USAU stock price has gone up about $1 per share to $12.27 a share on average. But it has fallen down in the last month in total. It will be interesting to see the future performance of the company.Hecla Mining Company
The next mining stock to watch is Hecla Mining Company. Hecla is a corporation that focuses on the discovery, acquisition of land, development, and producing of precious metals and base metal properties. It mainly offers unrefined gold and silver bullion bars, lead, and zinc. Currently Hecla owns 100% interest in many mines including the Greens Creek Mine, Lucky Friday Mine, and Casa Berardi mine. How is Hecla Mining Company performing now that it is 2021?
On January 22nd, Hecla announced the release date of its fourth quarter and year end 2021 results. The release date that the company has given out is Thursday, February 18th at 9am Eastern. This is likely when the next price movement could potentially be seen from HL stock. But as we have seen with some other mining stocks, it could also have minimal effect due to the current gold and silver prices. That is why HL stock is on this list of mining stocks to watch.Southern Copper Corporation
The final company on this list is Southern Copper Corporation. Southern Copper is a mining business that explores, smelts, and refines copper. Its operations are located in Mexico, Chile, Peru, Argentina, and Ecuador. It mines copper ore, smelts copper concentrates, refines, and produces it. Southern Copper actively has interests in 37,622 hectares of land in Peru, 147,974 hectares in Mexico, 63,453 hectares in Argentina, 42,615 hectares in Chile, and about 7,200 in Ecuador. Let’s see what this company is up to recently.[Read More] Are These Steel Stocks On Your Watch List? 4 Names To Track
On January 29th, the company released its fourth quarter earnings. Its earnings of 76 cents per share were better than analysts predicted. Sourthern Copper’s net sales went up 27% year over year. Its operating costs, operating profit, operating margin, and more also increased in price. SCCO stock price is at $72 a share on average as of February 8th. Just one year ago, this copper stock was at under $40 per share. The mining stocks on this list show that there is still plenty of potential for mining related assets to move up in price. Now we wait to see what advancements will be next in the sector and how world news will affect it all.