There are a variety of things that impact the way mining stocks move in the market. Mining stocks have been impacted mostly by the pandemic in the last year. Falling economy means rising mineral costs. This is due to mine closures, increased demand, and one other factor. Investors will often turn to things like gold and silver when the economy is bad.
This form of investment is usually positive when the dollar is slipping. Jobless reports have been a large impact factor on some mining stocks as well when things change a lot. In the most recent report from the U.S. Labor Department, claims totaled 745,000 instead of the 750,000 expected. Even though claims fell lower, it was not a very drastic change in unemployment claims.
This is the 50th week in a row that initial claims are higher than the worst week of the Great Recession. For this reason, precious metal prices have actually been able to remain around what analysts see as key price points for the time being. As more stimulus is issued and unemployment remains a problem, it is helping out the price of silver and gold. In addition to this, some think the vaccines dropping cases will hurt these metals.
But the unemployment numbers, reopening, and stimulus are what have the most affect. All of these things are still major problems for the United States at the moment. This could be a make or break year for mining stocks. With that being said, there are plenty of these assets that could potentially make your watch list in March 2021.Top Mining Stocks To Buy [Or Sell]
- FMC Corporation (NYSE: FMC)
- Franco-Nevada Corporation (NYSE: FNV)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Great Panther Mining Limited (NYSE: GPL)
The first mining stock to watch on this list is FMC Corporation. FMC is an agricultural science corporation that sells a plethora of items. FMC does crop protection, plant health, and more products. It sells products like insecticides, herbicides, and fungicides for agricultural purposes. It also offers other products in the biological range too. Let’s take a look at FMC Corporation’s recent market performance.
On March 1st, FMC announced a long term collaboration with UPL Ltd. This collaboration is for Rynaxypyr Active Ingredient. The CEO and President Mark Douglas said, “This is an important collaboration for FMC to expand our leading diamide technology in diverse geographies and crops with differentiated formulations. FMC has continued to grow the diamides significantly since acquiring them in late 2017, including achieving double-digit year-on-year growth again in 2020.”Franco-Nevada Corporation
Next up on this mining stock list is Franco-Nevada Corporation. Franco-Nevada is a royalty and stream based mining business. The company focuses on gold but also will work with silver and platinum group metals. Furthermore Franco-Nevada works with gas and energy comprising oil too. Its main segments are energy and mining. Now let’s look at its most recent update.
Franco-Nevada announced that it will be releasing its 2020 results on March 10th after the market close. Additionally the company has declared its quarterly divided. This dividend will be $0.26 per share, paid on March 25th, 2021 to shareholders on record as of March 11th, 2021. That is the latest from Franco-Nevada Corporation and FNV stock.Harmony Gold Mining Company Limited
Now let’s talk about Harmony Gold Mining Company Limited. Harmony is a mining corporation exploring, extracting metals, and processing metals. The company mainly searches for gold, silver, copper, and uranium. Moreover, it will also look for deposits in South Africa and Papua New Guinea. HMY stock price was at $3.69 a year ago so it shows that HMY stock has grown a bit in price.
Harmony’s latest update was its fiscal 2021 financial results for the period ending December 31st, 2020. Its adjusted earnings were $0.48 per share. This was much better than the 17 cents per share it recorded the previous year. This 182% increase in adjusted earnings was great for the company.Great Panther Mining Limited
The final mining stock to watch is Great Panther Mining Limited. Great Panther is a mining and exploration company based out of Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. These mines include the Tucano gold mine in Brazil, two silver mines in Mexico, and other assets as well. Let’s take a look at what this company has been up to in recent history.
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On March 4th, Great Panther reported is fiscal year 2020 financial results. The company significantly strengthened its balance sheet in 2020. The CEO of the company Rob Henderson said, “Our teams did a tremendous job of managing the challenges of COVID-19, while reducing consolidated AISC, delivering on guidance, successfully extending the open pit mine life at Tucano, and expanding resources at GMC.”