In the same timeframe one year ago, nobody knew what was to come for mining stocks. When March of 2020 arrived, all mining stocks tanked with the rest of the market. But unlike other sectors, this one quickly was able to recover in the market. Metal prices began to rise as world economies were falling as a result of COVID. Now nearly one year has passed, so where does that place mining stocks now? Well, there are actually plenty of mining stocks to watch at the moment. The pandemic is still roaring on in February 2021, and that means that the economy is yet to recover. Gold has been able to hold above the key price point of $1,800 per ounce. At the same time silver has held above the price point of $25 per ounce. Silver actually reached $29 per ounce before quickly falling back down as a result of the media and Reddit traders boosting the price overnight.
It is clear that the hype for mining stocks is not over yet. The pandemic has not showed any signs of slowing down despite a vaccine being distributed all over the world. But gold and silver are not the only types of mining stocks that are trending upwards in the market. There is also lithium stocks, which have been performing extremely well recently. These stocks have been performing well as a result of the electric vehicle boom. Electric vehicles use lithium ion batteries, hence the growth. Some investors think that it is not the right time to invest in mining stocks, but this could not be further from true! Let’s take a look at four mining stocks that performed well in the last year, and could potentially keep that momentum in 2021.Top Mining Stocks To Watch
- Freeport-McMoRan Inc. (NYSE: FCX)
- Galiano Gold Inc. (NYSE: GAU)
- Alamos Gold Inc. (NYSE: AGI)
- Golden Star Resources Ltd. (NYSE: GSS)
The first mining stock to watch is Freeport-McMoRan Inc. Freeport-McMoRan is a mining company searching Tw for gold, silver, copper, molybdenum, among other metals. It operates out of North America, South America, and Indonesia. The company searches for oil and gas as well. Freeport-McMoRan had 116 billion pounds of copper, 29.6 million ounces of gold, and more in its consolidated recoverable proven and probable mineral reserves as of December 31st 2019. So let’s see what the company’s performance looks like in 2021 so far.
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The latest update from this mining corporation comes from the very end of January. The company announced its fourth quarter and year ended 2020 results. It announced that its copper and gold sales were 3% and 9% higher than October 2020 estimates respectively. The CEO and President of the company, Richard C. Adkerson said, “During 2020, our global team responded to the challenges of the pandemic in an exceptional fashion, safeguarding our people, communities and assets as we executed and delivered on our clearly defined strategy.”Galiano Gold Inc.
Next up on this mining stock list is Galiano Gold. Galiano Gold is an exploration, development, and production company based out of Canada. The company owns gold properties such as the Asanko Gold Mine in Ghana, West Africa. This company experienced positive momentum as the result of rising gold prices. So let’s look into its financials in 2021 and how its performing so far.
On February 1st, Galiano Gold provided an update for Miradani North phase 3 drilling. The company announced that the drilling is 80% complete, with 28 holes that total 7,896 meters total. Assays received for about 56% of the drilling to date with the remainder expected this month. The Chief Executive Officer of the company, Greg McCunn said, “Current drilling has filled in and expanded earlier positive drill results and completion of the Phase 3 program is expected to provide us with sufficient data to carry out engineering studies and an initial resource estimate to allow us to fully evaluate Miradani North for development.”Alamos Gold Inc.
Now let’s talk about Alamos Gold Inc. Alamos Gold is an acquisition, exploration, development, and extraction focused company. Alamos searches for gold, silver, and other precious metal deposits. Its main project is the Young-Davidson mine, location in Canada totaling 11,000 acres. It also holds interest in plenty of development stage projects in the United States, Canada, Mexico, and Turkey. Let’s take a dive into Alamos’ 2021 performance and latest updates so far.[Read More] Could These Mining Stocks Outperform In February?
Its latest update was from February 1st. It was here that the company appointed a new Vice President, John Fitzgerald. The company also announced in late January that it has extended its high grade gold mineralization laterally, and down plunge at Island Gold Mine. Its fourth quarter and year end 2020 results will be released on February 24th, 2021.Golden Star Resources Ltd.
The final mining stock to watch is Golden Star Resources. Golden Star is a mining and exploration company based in Canada with a primary focus on gold. It actively runs the Wassa open-pit gold mine in Tarkwa, Ghana. Additionally it owns processing plants and underground mines. Golden Star experienced positive momentum due to rising gold prices in the market. This company has also been releasing some recent updates. So let’s look at Golden Star’s latest updates and performance.
On January 20th, Golden Star reported on 2020 preliminary production results. It also released guidance for 2021, after delivering on its 2020 guidance. Its total Q4 production was a 7% increase over the previous year. The president and CEO of the company, Andrew Wray had this to say, “In what was a transformational year for Golden Star, the operational performance of Wassa stood out with the delivery of our improved production guidance range despite the numerous challenges that have arisen as a result of the pandemic.”