Throughout history, mining stocks have generally moved with the price of materials and metals. To this day, this still seems to be the case. Yet, at the same time, various things impact the price of mining stocks that were not there in the past. For example, take a look at the COVID-19 pandemic. In 2020 the pandemic caused many mining stocks to soar to new record highs in the market. The resulting things of the pandemic are a hurt economy and high unemployment. The U.S. Labor Department continues to release new unemployment reports every week, and even when numbers are falling, they are still very high up there.
The market for mining stocks is very volatile at the moment. Some analysts think that precious metals like gold and silver could potentially reach new highs in 2021. On the other hand, some analysts think this is the end of the metal rally. What we do know is that there are still plenty of mining stocks making gains at the moment. This is boosted by metal prices staying at key price points and the economy still being down. There are many types of mining stocks to invest in.
Two of the most common are gold stocks and silver stocks. But the others should not be overlooked, such as lithium stocks and copper stocks. There are many subsectors when it comes to mining stocks that many are investing in. It is important to conduct proper research when investing in mining stocks in order to know which assets are the best. Let’s take a look at four mining stocks that have been showing high performance in the market.Top Mining Stocks To Watch
- Kirkland Lake Gold Ltd. (NYSE: KL)
- Franco-Nevada Corporation (NYSE: FNV)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- AngloGold Ashanti Limited (NYSE: AU)
The first mining stock on this list achieved new record highs in 2020. So where is it at in 2021? Let’s first talk about who Kirkland Lake Gold is. Kirkland Lake is a mining business that possesses mining rights and land in many places. It explores for different mineral resources at a diverse portfolio of projects. Its main resource searched for at Kirkland Lake’s claims is gold. Its major assets are the Macassa Mine and Fosterville mines in Canada and Australia. Now that you know about the company it begs the question; how is Kirkland Lake’s recent performance?
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In regards to its recent updates, Kirkland Lake has a few. On March 28th, the company announced that it will host two Teach-In presentations on March 31st. This could potentially drive KL stock up or down. On the day of March 29th, KL stock price is up 1% in the market. A few days before this, the company declared its quarterly dividend of $0.1875 per common share payable on April 14th, 2021. It will be interesting to watch the corporation’s future market performance.Franco-Nevada Corporation
This next mining stock is up 1.70% on the day of writing. FNV stock price is currently at $125 per share as of March 29th. Franco-Nevada is a royalty and stream mining company that focuses on gold, and also searches for silver and platinum group metals. Furthermore the company works with gas and energy comprising oil too. Its primary focus for the company is energy and mining.
Franco-Nevada recently filed its year end disclosure documents. The company will also be holding a Virtual Analyst Day webcast on April 15th. This is to review its assets, as well as release its 2021 asset handbook and 2021 environment social and governance report. In its last financial reports just 18 days ago, FNV announced that its earnings and sales beat estimates and broke company records.
The CEO of the company Paul Brink said, “With record precious metals prices through the year and the recovery of energy prices in the second half of the year, Franco-Nevada generated record financial results. We are pleased to announce a new precious metals stream on the Condestable copper mine in Peru and the acquisition of a portfolio of natural gas royalties in the Haynesville play in Texas.”Harmony Gold Mining Company Limited
This next mining stock has more than doubled in the last year. Of course we are talking about the mining penny stock that is Harmony Gold Mining Company Limited. You may be wondering why this company reaches that penny stock title. Well, HMY stock price is at $4.50 a share at the moment. A penny stock refers to any asset trading under $5. So what has driven this mining penny stock to reach such large gains in just one year?
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Well one of the obvious answers would be the rapid increase of gold prices. But Harmony Gold itself has had quite the year with positive and record financials over and over again. In the last 5 days, Harmony has seen a large increase in its volume. As a result, its stock price has gone from $4.39 a share to $4.80 a share. Now we await more information to be released from the company to see what its next potential big gains could be.AngloGold Ashanti Limited
The final mining stock on this list achieved new 5 year highs back in 2020. The company has fallen from this peak, but is still increasing in price in the market. 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.
AU stock price was at $19 a share one month ago, and it is now above $22 a share. Recently AngloGold Ashanti began trading ex-dividend on March 11th, 2021. This payment of $0.384 per share will be paid on April 5th. On the day of March 29th, AU stock price went up nearly 6% in the market.