Mining stocks have been in this rather volatile state for quite some time. In 2020, these assets shot up in value along with the prices of gold and silver. Gold reached above $2,000 per ounce, which had never been seen before. But now, the price of gold has settled at around $1,800 per ounce. This price point has been rather consistent for a while now, apart from the first week of January, when gold prices briefly touched above $1,900 per ounce. As you know, the pandemic has the largest effect on the price of precious metals right now. The numbers for the pandemic are only growing larger with no stop in near sight. The vaccine has begun distribution, but it has not had a large impact on the infection numbers.
This has allowed gold to stay at its current key price point. So what other things are impacting the price of mining stocks at the moment? Well, world news is obviously a given. But sector news, company news, and more are all important. We are approaching earnings season in February, and we will see many mining stocks rise and fall. So it will be interesting to see how the market is affected. There are plenty of great mining stocks to watch in 2021. Let’s have a look at a few to keep your eye on.Top Mining Stocks To Watch
- Golden Minerals Company (NYSE: AUMN)
- Coeur Mining Inc. (NYSE: CDE)
- Fortuna Silver Mines Inc. (NYSE: FSM)
- New Gold Inc. (NYSE: NGD)
The first mining stock to watch is Golden Minerals Company. Golden is a precious metal exploration and development company. It mines, constructs, and explores on mineral properties that contain precious metals. Principally, Golden Minerals seeks silver, gold, zinc, lead, and a variety of other minerals. Most of its properties are located in the United States, Mexico, Argentina, and various states within the US. So how is Golden Minerals performing in 2021 thus far?
Golden Minerals recently announced that it had regained compliance with NYSE American exchange continued listing standards. It received a notice back in August 2019 that it was not in compliance when it reported stockholders’ equity of under $6 million. Now it has regained compliance by being at the $50 million market capitalization exemption. That is the last that we have heard from the company.Coeur Mining Inc.
Next up on this mining stock list is Coeur Mining Inc. Coeur is a company that will explore for, develop, and produce gold, silver, zinc, and lead. Its properties are located in Nevada, Alaska, Mexico, Canada, and South Dakota. It holds more than 200,000 net acres of land in total. The company experienced a lot of positive momentum back in 2020 that defined the future of the company. With that being said, let’s take a look at where Coeur is headed, its recent updates, and its current stock performance in the market.
This quarter, the company stated that its Q4 and full-year 2020 earnings call will be taking place soon. The date that has been set is Wednesday, February 17th, 2021. The call will take place at 10am eastern time on the day. It will be hosted by the President and Chief Executive Officer Mitchell J. Krebs, as well as other executives of the company. This is likely what will be the next defining piece for the future of CDE stock price.Fortuna Silver Mines Inc.
The next mining stock to watch is Fortuna Silver Mines Inc. Fortuna Silver Mines Inc. is a mining company that will explore, extract, and process precious and base metal deposits. All of its operations are generally out of Latin American countries like Peru and Argentina. Fortuna owns the Caylloma mine, San Jose mine, Lindero project, and more. Now let’s take a look at the 2021 performance of this company and mining stock.
On January 19th, Fortuna reported its full year production results for 2020. Additionally, the company provided its 2021 guidance. In regards to its 2020 production results, it reported 11.3 million silver equivalent ounces in the year. The company predicts it will produce decreased silver numbers, but increased gold numbers in 2021.New Gold Inc.
The final mining stock to watch is New Gold Inc. New Gold is a mining corporation that explores for gold, silver, and copper deposits at locations in both Canada and Mexico. The company operates the New Afton mine in Canada, the Rainy River mine in Canada, and the Cerro San Pedro mine in Mexico. It also has 100% interest in the Blackwater project in Canada. Let’s see how this company has performed in 2021 so far.[Read More] Top Mining Stocks To Buy Right Now? 4 To Watch
Last month, New Gold announced its fourth quarter and annual operational results. In this, it was reported that New Gold has achieved its annual production guidance. The CEO of the company, Renaud Adams said, “We improved our operational and cost performance, executed on our strategic capital plans, restructured our balance sheet and improved our liquidity position and we have shifted our focus to driving further operational and cost optimizations at both our assets.” That is the last update that has come from New Gold that impacted NGD stock price.