When talking about mining stocks, it is hard not to mention how well they have performed in the last year and a half. It all started with the pandemic, causing precious metals like gold and silver to rally to new record highs. In turn, more types of mining stocks starting performing well too. There are many more of these assets than some investors may realize.
When investing in mining assets, many will just think of gold stocks and silver stocks. In actuality, there are a lot of other kinds of mining stocks. These include companies that search for copper, steel, uranium, lithium, lead, and more. Even bitcoin mining stocks can be considered for this type of asset.
Now you may be wondering, what should you look out for when investing in mining stocks? There are a few essential steps one can take to make sure it is the right time to invest in a company. The first and most obvious is to look at world news. Just look at how the pandemic affected and continues to affect the mining sector. Sector news is also very important, things like shortages and increased demand are good pieces of information to have.
Looking at the volume of a company can help when investing in mining stocks too. If a company’s stock price is high but its volume is lower than average, it could potentially suggest a pullback could happen. This isn’t always the case, but it is something to note. Mining stocks have grown in popularity a lot in the last year and a half, which can make it confusing when deciding on which company to invest in. So with all of this in mind let’s look at three mining stocks that are trending in the market right now.Top Mining Stocks To WatchHecla Mining Company (NYSE: HL)
Hecla Mining Company is a mining stock that focuses on the discovery, acquisition of land, development, and producing of precious metals and base metal properties. It mainly offers unrefined gold and silver bullion bars, lead, and zinc. Currently Hecla owns 100% interest in many mines including the Greens Creek Mine, Lucky Friday Mine, and Casa Berardi mine. So why is Hecla stock increasing in value at the moment?
Well, on May 18th Hecla released its first quarter exploration results for 2021. These results were so positive that its exploration expenditure guidance increased by $10 million. The President and CEO Phillips S. Baker Jr. said, “The recent high-grade intercept grading 5.52 oz/ton gold and 8.9 oz/ton silver over 20.3 feet drilled (13.1 feet estimated true width) is one of the best exploration drillholes in North America in the past year.”
HL stock was under $7 when 2021 started. Now in June 2021, HL stock is above $9 per share. Just one year ago HL stock was about $3 per share on average. Considering its earnings beat estimates and its market performance has been great, will you add HL to your list of mining stocks to watch?Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc. is a mining stock that explores for, develops, and produces mineral resources. These resources include gold, silver, zinc, and lead properties. It actively has 100% interest in the Palmarejo mine, Rochester mine, Kensington mine, Wharf gold mine, and many more. It will market its concentrates to third party refiners and smelters in various locations. These locations include the United States, Switzerland, and Japan. The company’s property is located in Mexico, Nevada, Alaska, South Dakota, and Canada.
The latest update from Coeur arrived on May 10th, when the company announced its investment in Victoria Gold Corp. The company acquired 17.8% of 11,067,714 outstanding undiluted common shares of Victoria Gold Corp. The President and CEO of Coeur, Mitchell J. Krebs said, “We have long admired the quality of Victoria’s Eagle asset and its recent success in ramping up operations. This compelling opportunity to acquire 17.8% ownership interest in Victoria from Orion is consistent with our stated strategy and capital allocation framework, and complements our existing portfolio of precious metals assets in high-quality jurisdictions in North America.”
After this acquisition CDE stock price has increased. And now in June, its stock price is up nearly 5% on a day where many other mining stocks are performing negatively. With all of this in mind, will CDE make it on your list of mining stocks to watch?Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a mining stock that has a primary focus on silver and gold mining. The company actively acquires, explores, develops, processes, extracts, and refines those metals at its properties. Its main properties are located in Mexico and Chile. Unfortunately like many other companies it had to stop its mining operations in 2020 at one point. But since then, Endeavour has been able to create lots of good momentum for itself.
May 20th is when the latest update from Endeavour was released. The company announced that it intersected high-grade gold and silver mineralization at the Bolanitos Mine in Durango, Mexico. The VP of Exploration, Luis Castro said, “We continue to intersect strong drill results as we step out from the current margins of the Melladito and Belen orebodies, with a number of other targets to drill, along both the Melladito and Belen veins.” Will you add EXK stock to your watchlist as it sees long term gains?Mining Stocks In June
As mining stocks continue to see gains as the pandemic slows down, we will see how the market changes. The world is still in a volatile state at the moment. Materials are gaining as industrial demand rises and retail sales go up. So which mining stocks will make your list?