2021 has begun, and with it has already arrived some very interesting market activity for mining stocks. In the first week of the year in January, mining stocks rose up quite a bit. This was due to the price of gold and silver reaching recent high points. This included the price of gold pushing above a key point of $1,900 per ounce. But that is where the fun ended with mining stocks in January. In the second week of January, precious metal prices went back near their December 2020 prices. Now we are nearing the end of January, so what things are affecting mining stocks at the moment? Well, the pandemic is still roaring as you know with no end in near sight. This continues to hurt the economy which brings up mining stocks. In addition to this, multiple bills have been signed to provide government stimulus and relief. These bring down the value of the dollar which in turn can bring precious metal prices up, As a result, mining stocks go up as well.
What are some things to look for when investing in mining stocks? The first of which, is obviously world news. The things going on in the world could have a larger effect on mining stocks than you may think. Next up would be news that is going on in the sector. This is things like big price movements for precious metals or positive financial reports from many companies. Some may turn a blind eye to mining stocks due to the volatility at the moment. But there are plenty of good mining stocks to watch before February. Let’s look at four mining stocks that have been trending in the market lately.Top Mining Stocks To Watch
- Gold Fields Limited (NYSE: GFI)
- Agnico Eagle Mines Limited (NYSE: AEM)
- Golden Star Resources Ltd. (NYSE: GSS)
- Range Resources Corporation (NYSE: RRC)
First up on this list is Gold Fields Limited. Thia is a gold company that offers and produces a diverse set of resources and reserves. Gold Field’s assets are in Chile, South Africa, Australia, Ghana, and Peru. The company presently has 9 operating mines with an annual gold equivalent production of 2.2 million ounces. Furthermore, the company has gold mineral reserves of about 51.3 million ounces and mineral resources of 115.7 million ounces. It similarly has copper reserves of 616 million pounds and mineral resources totaling 882 million pounds. Now let’s have a look at the company’s 2021 performance.
Apart from appointing a new CEO, this company has not released any recent updates. So let’s analyze the performance of GFI stock so far this year. Like many other mining stocks, GFI stock went up significantly in the first week of 2021. Then shortly after, this mining stock fell back down. Now as of January 25th, GFI stock is at $9.70 a share on average. Just one year ago this mining stock was at about $6.51 per share on average. For now until more updates come out, this is a potential company for your list of mining stocks.
Read MoreAgnico Eagle Mines Limited
Next up on this mining stock list is Agnico Eagle Mines Limited. Agnico Eagle is an exploration, development, and production based mineral property business. It runs properties in Canada, Mexico, and Finland. The company will produce and sell gold deposit, as well as silver, zinc, and copper deposits. Its main property is the LaRonde mine in Canada. As of December 31st 2019, its LaRonde mine had a mineral reserve of about 2.9 million ounces of gold. So let’s now see how the company has performed in 2021 so far.
The most recent update from Agnico arrived on January 12th, 2021. The company announced that its fourth quarter and full year 2020 results will be released on Thursday, February 11th 2021. This will take place after regular trading hours, via a conference call. This is likely when the next price update will be seen from AEM stock. AEM stock fared rather well in 2020, so it will be great to see which direction it moves in 2021. AEM stock price is at $70 per average as of January 25th. For now, this is a great potential mining stock to watch.Golden Star Resources Ltd.
Now let’s talk about Golden Star Resources Ltd. Golden Star is a gold mining and exploration corporation located in Canada. The company operates and owns the Wassa open-pit gold mine located in Tarkwa, Ghana. It correspondingly owns processing plants and underground mines too. These mines include the formerly Bogoso gold mining and processing operation in Prestea, Ghana. Additionally it holds interest in projects for gold exploration in Brazil and Ghana. So how has GSS stock performed in 2021 so far?
On January 20th, the latest update from Golden Star was released. This was the announcement of its 2020 preliminary production results and guidance for 2021. This is delivering on increased 2020 production guidance at Wassa. The audited financial results are expected to be released on February 24th, 2021 after the market closes. GSS stock is currently at $3.84 per share on average as of January 25th, 2021. So when these financial results are released, we will likely see a more significant price movement, whether it is up or down, for GSS stock.Range Resources Corporation
Last but not least on this list of mining stocks is Range Resources Corporation. Range Resources is a natural gas and oil corporation based in the United States. The company explores, develops, and acquires plenty of natural gas and oil properties. As of December 31st 2019, the company owned and operated 1,272 net producing wells and 833,000 net acres under lease in the Appalachian region. Range Resources has 409 net producing wells and 105,000 net acres under lease in the North Louisiana area.
The company’s products are sold to NGLs, midstream, industrial, and natural gas processing companies. So how has the company performed this year you may ask? In 2021, RRC stock price has gone from $7 per share to nearly $9 per share as of January 25th. That is why this is a mining stock to watch. The company hasn’t released any recent statements, so that is something to look forward to if investing or interested in Range Resources.