Last year, mining stocks experienced a momentum like none other. The pandemic, which has still not been solved, took the world by storm. This caused world economies to tank. As a result, mining stocks experienced a great rally like never seen before. The price of gold in 2020 was so amazing it even passed over $2,000 per ounce at one point. But now we have arrived in 2021, so what does this mean for the mining stock sector? Some analysts have predicted that gold prices could reach past $2,500 per ounce. While this sounds ambitious, look at what has happened to mining stocks in the last year. But the truth is, nobody knows the direction in which these mining assets could move next. A recent report came out announcing that jobless reports were better than expected by analysts.
When less people are applying for unemployment, it is helping the economy out. The problem with this is with mining stocks. Mining stocks have been higher when the economy is performing badly, so news likes this makes them go down. This was the exact result when this most recent report was released. Mining stocks are down at the moment, but some are already starting to recover. Investors can often be strayed away from mining stocks as they think there is not an opportunity to make a profit. But this is incorrect as plenty of these assets are going up at the moment. It is best to look at the volume, recent news, and world news when it comes to investing. But now let’s talk about four mining stocks that showed positive performance in the last year, and have the potential to move higher in 2021.Top Mining Stocks To Buy Or Sell
- Western Copper and Gold Corporation (NYSE: WRN)
- Freeport-McMoRan Inc. (NYSE: FCX)
- BHP Group (NYSE: BHP)
- Eldorado Gold Corporation (NYSE: EGO)
The first company on this list of mining stocks is Western Copper and Gold Corporation. ). Western Copper and Gold Corporation is a mining company that will engage in the exploration and development of various mineral properties. These mineral properties are all located in Canada. The company searches for copper, gold, and molybdenum deposits. Its main property, the Casino mineral property, has 1,136 full and partial quartz claims and 55 placer claims. Let’s have a look at the company’s 2021 performance so far.
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Its latest update was on December 14th. This was the announcement that it has initiated a preliminary economic assessment for its Casino Project. In the last year, this mining stock has gone up quite a bit. This is the latest that has come from the company. It will be interesting to see what Western Copper and Gold’s first update is in 2021. For now, we wait for this.Freeport-McMoRan Inc.
The second mining stock to watch is Freeport-McMoRan Inc. Freeport-McMoRan is a mining company that searches 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. This is a mining stock that has experienced a lot of momentum in the last year as a result of rising metal prices. In fact, FCX stock is at nearly 3 times what it was at a year ago. Let’s dive into its recent financials and stock price numbers.
On February 2nd, Freeport-McMoRan announced the reinstatement of common stock dividend and adoption of performance based payout policy. The Chairman and CEO of the company Richard C. Adkerson said, “The policy of combining a base dividend, which can be sustained in a range of market conditions, with a performance based payout framework, allows us to enhance long-term value for shareholders with a strong balance sheet, providing cash returns to shareholders reflective of market conditions and building long-term values in our undeveloped resources.”BHP Group
Next up on this mining stock list comes BHP Group. BHP Group works in the natural resources field. Its business is operated in Australia, Europe, China, Japan, India, and other parts of Asia and North America. The company’s primary products are petroleum, copper, iron ore, and cole. It also will mine for silver, zinc, uranium, gold, and more. Let’s have a look at BHP Group’s recent market performance.
In the last 5 years, this mining stock has gone about 150% higher in shares. This is a 223% total return on investments for shareholders. The company has not yet released any 2021 updates. The next update from BHP Group could be the one that dictates its stock price.Eldorado Gold Corporation
The final mining stock to watch is Eldorado Gold Corporation. Eldorado Gold is a mining corporation that will discover and acquire land, explore it, develop it, and then produce and sell precious metals. Its products include but are not limited to gold, silver, zinc, lead, and iron ores as well. Currently Eldorado runs the Kisladag and Efemcukuru mines. So what has Eldorado Gold been up to now that 2021 has arrived. Let’s dive right into these financial numbers and recent updates.
On January 26th, the company announced the release date for its 2020 year end and fourth quarter results. On Thursday, February 25th, 2021 the company will release these results. This will be taking place after the market closes on that day, followed by a conference call the next day. This is likely when the next price movement for EGO stock will be seen. That is the final company on this list of mining stocks.