In the market, there is a variety of factors that affect mining stocks in 2021. After the pandemic started, mining stocks had a huge boost. This was a result of traders turning to metal instead of the dollar, when the dollar is falling in value. Another thing affecting mining stocks is jobless claims. The most recent report showed that jobless claims totaled 861,000 for first time filings. This was above the estimate the Dow Jones predicted of 773,000. This shows that many are still filing for unemployment at the moment. This worsens the economy, helping mining stocks out. There are plenty of mining stocks to watch in the market at the moment. Some may think that it is too late to invest in the sector. But many of these metal related assets are still moving upwards in the market.
Another trending sector of the mining stock category would be lithium stocks. Electric vehicles use this mineral in its batteries to create lithium ion batteries. As you know, the EV sector has exploded in value in the last year, and even the last decade. Tesla for example is producing more cars than ever at the moment. Copper stocks are also a trending topic when it comes to mining. Many pounds of copper are used when producing electric vehicles, making it an essential metal used when making them. Then there’s the mining stocks people pay attention to the most. This would be the gold and silver related mining stocks. The prices of gold and silver have been able to remain steady for the time being, but are not significantly moving up or down. Let’s take a look at four mining stocks that are trending in the market in 2021 so far.Top Mining Stocks To Watch
- AngloGold Ashanti Limited (NYSE: AU)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Vista Gold Corp. (NYSE: VGZ)
- New Gold Inc. (NYSE: NGD)
First up let’s discuss AngloGold Ashanti Limited. AngloGold Ashanti is a gold mining company that produces gold, silver, uranium, and sulpheric acid. It currently operates 14 mines and three projects, located in nine countries around the world. This includes the Americas, South Africa, Continental Africa, and Australia. Now let’s have a look at the company’s 2021 performance so far and latest updates.
AngloGold Ashanti has claimed that it expects annual earnings to increase in its next report. In fact it stated its earnings will nearly triple, as a result of surging gold prices throughout 2020. For now, AU stock price is at nearly $21 a share on average. This has not been one of the higher performing gold stocks in the last year, but has still seen moments of great momentum throughout the time period. It will be interesting to see what the company says in its full report coming next. This could potentially have great impact on its stock price.Harmony Gold Mining Company Limited
Next up on this gold stock list is Harmony Gold Mining Company Limited. Harmony is a mining corporation that explores land, extracts precious metals, and processes them too. The company’s main searched for minerals are gold, silver, copper, and uranium. Harmony also looks for deposits in South Africa and Papua New Guinea. So what has Harmony been up to in recent times?
Well, on February 19th Harmony Gold reported that it expects its net profit for the six months ending December 31st, 2020 to increase between 325% and 339% higher than the previous year. Its earnings per share is expected to increase a lot as well. These increases are a result of an increase in production, higher gold prices, gains on derivatives and foreign exchange translation gain. Harmony also had a gain on bargain purchase recognized on acquiring Mponeng and related operations. It will be interesting to see what Harmony produces next. It is currently the largest gold producer in all of South Africa.Vista Gold Corp.
Next up on this list of mining stocks to watch is Vista Gold Corp. Vista is a mining corporation that engages in a variety of activities. The company will evaluate, acquire, explore, and advance various gold exploration and development projects. The largest amount of its assets are located in Australia. Its main project is the Mt Todd gold project owned 100% by the company. So here is what its recent performance and advancements look like at the moment.[Read More] These Mining Stocks Are Performing In February
On January 14th, the company released its 2020 highlights and gave a 2021 outlook. The President and CEO of the company, Fred Earnest said, “Financially, we successfully monetized non-core assets to fund working capital, strengthen our balance sheet and cash position, and set the path to generate additional cash of up to US$4.6 million during 2021.” Shares of the company went up 49% in the 12 months ended December 31st, 2020.New Gold Inc.
The final mining stock to watch is New Gold Inc. New Gold Inc. is a mining corporation that will develop various mineral properties located in Canada and Mexico. The company mines and searches for gold, silver, and copper deposits. It currently holds 100% interest in the Afton, Rainy River, and Cerro San Pedro mines. The company has been performing well all throughout 2020. Let’s look at its recent market performance and history.
On February 18th, New Gold Inc. reported its fourth quarter and annual 2020 results. The company achieved the mid range of its revised annual production and cash cost guidance. The President and CEO of the company Renaud Adams said, “New Gold is now repositioned for long-term success as we expect to transition to free cash flow generation in 2021.” Its total production for 2020 was 437,617 gold equivalent ounces. This included 293,139 oz gold, 636,952 oz silver, and 72.1 million oz copper.