With so many different things affecting the price of mining stocks, it can often be difficult to keep track of what things are truly impacting the market. The market is made up of a variety of different sectors. The most popular among the sector tends to be gold stocks, closely followed by silver stocks.
Currently, the gold market is climbing towards $1,800 per ounce again. This is happening because the U.S. dollar is weakening and bond yields are lower. Analysts at Metals Focus believe that rising bond yields since the start of 2021 have weighed on the metal’s opportunity costs as a non-yielding investment. Now things seem to be going in the right direction for gold.
The analysts believe that March’s high above 1.7% is good for the economy and many were shorting the bond market. It is possible that now the bond market will have less of an effect on gold prices.
Now on April 22nd, gold prices have moved lower in the market. This is was a seemingly normal pullback considering both silver and gold reached multi-week highs this week. So where will precious metals go from here?
Many think that when the economy recovers investors will move money back into traditional stocks and hurt the price of these assets. Others think the opposite will happen, especially as economic recovery could take a large amount of time. Time is the keyword here because it is the only thing that can tell truly what will happen to the gold and silver markets. All in all after a great week in the market there are many good mining stocks to add to your watch list. Let’s now highlight three potential companies that may work for you.Top Mining Stocks To Buy Or Sell
- Wheaton Precious Metals Corp. (NYSE: WPM)
- Royal Gold Inc. (NASDAQ: RGLD)
- Almaden Minerals Ltd. (NYSE: AAU)
This first mining stock is performing well after a year of some rallying due to the pandemic. Wheaton is a mining company that will sell silver, gold, and palladium ores. The company has 20 operating mine agreements and 9 developmental stage project agreements. On March 25th the precious metals miner announced that it has acquired a gold stream from Capstone Mining Corp. The company has purchased 100% of the payable gold production until 285 thousand ounces have been delivered. After this is met, it will drop to 67% of payable gold production for the lifetime of the mine.
Randy Smallwood, President and CEO of Wheaton said, “The project is forecast to be a first-quartile copper producer with a long mine life, making it an ideal fit for Wheaton’s existing high-quality portfolio.” The mine is expected to have an 18-year lifespan. This could be great for Wheaton and its future. The company’s previous earnings and sales missed estimates. Could this help Wheaton see some upside? We will find out on May 6th, as that is when the company will be releasing its first-quarter results for 2021.Royal Gold Inc.
Royal Gold is one of the higher-priced gold stocks and saw tons of positive momentum in 2020. This moment seems to have continued in 2021 despite certain points of decline. This is due to Royal Gold being such a multi-faceted and large corporation. Royal Gold is a gold corporation that acquires and manages royalties and metal streams. The company does this for stream or royalty interests. Its minerals mined for are gold, silver, copper, zinc, nickel, lead, and cobalt. Currently, the company has 189 sites with 41 mines and 17 developmental projects.
On April 13th the company provided an update on its fiscal 2021 third quarter stream segment sales. It sold 52,500 gold equivalent ounces in the fiscal 2021 third quarter ended on March 31st. Royal Gold has also been participating at many conferences and presentations. The company presented at the World Gold Forum Conference, Renmark Financial Communications Virtual Non-Deal Roadshow Series, and the BMO 30th Global Metals and Mining Conference.Almaden Minerals Ltd.
Even when some mining stocks are down, other types have the opportunity to go up. One common example of this is related to mining penny stocks. Almaden is seeing one of these occurrences on April 22nd, being up 16% on the day. This is an exploration stage company that acquires, explores, and develops various mineral properties. Almaden searches for gold, silver, and copper deposits. What has the company been up to that may be affecting its stock price?
[Read More] Gold Stocks To Buy As Metal Prices Increase
On March 15th the company announced that it has resumed exploration at the Ixtaca Property. Now the company has conducted an IP geophysical program at the property. This program is a surface-induced polarization geophysical one. The hope is for it to identify potential zones of veining at the Southeast Alteration.
In mid-March Almaden Minerals also closed a $10.3 million registered direct offering. This offering is for 15,846,154 shares of common stock at $0.65 per share. The company will be using the net proceeds for preparing and submitting applications for permits needed to construct the Ixtaca project, engineering work, exploration, legal, and general corporate purposes.