ABML - Gold Stocks to Watch As Analysts Become Bullish on Mining
Are These Mining Stocks On Your Watch List This Week?
Throughout the course of 2019, gold enjoyed a remarkable rally. It was mainly due to the uncertainty in the markets and the same state of affairs has continued in 2020. Last year, the trade war between the United States and China had forced investors to look for safer assets like gold.
However, this year, the troubles in the Middle East triggered by the United States’ decision to assassinate an Iranian general, has resulted in another boost for metals. In such a situation, it might be worthwhile for investors to consider gold stocks. Here is a list of mining and gold stocks to watch.
Newmont Corporation
The first gold stock that could be considered in the middle of this rally is that of Newmont Corporation (NEM – Free Report). It received an upgrade from analysts at B. Riley FBR on Monday. More often than not, an upgrade from a leading firm is seen as a big positive for any stock. However, it remains to be seen if it proves to be the case for Newmont.
Riley FBR upgraded the stock from neutral to buy and set a target price of $48 per share. The firm stated that it upgraded the stock due to Newmont’s record of production and ‘industry-leading’ dividend payout. It is the biggest gold company by market cap and production. This is why investors could keep an eye on the stock over the coming days.
Great Panther Mining
Another gold stock that deserves attention from investors is Great Panther Mining Ltd (GPL – Free Report). That’s due to the highly positive announcements made by the company on Monday. Great Panther revealed its production for the full year of 2019. The company stated that its production went up by as much as three times for the year.
Great Panther generated 147,000 consolidated gold equivalent ounce of gold in the year. Much of it was due to the acquisition of the Tucano gold mine in Brazil. Investors could keep an eye on the Great Panther stock during this really.
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“We ended 2019 on a stronger note at Tucano, exceeding the high end of our most recent guidance range for the fourth quarter…As we begin 2020, we look forward to another year of production growth while continuing to execute on key operational initiatives in Brazil and Mexico, including expanded exploration programs. Together with our recent key management additions and $21 million in non-equity funding, we are well-positioned to execute on our 2020 plans.” stated Jeffrey Mason, Interim President & CEO.
American Battery Metals Corp
Something many forget about when it comes to lithium-ion batteries is what happens when they charge for the last time. American Battery Metals (ABML – Free Report) is a lithium-ion battery recycling, extraction, and resource production company. Earlier this month the company launched its battery recycling plant in Nevada.
“Our scalable commercial lithium-ion battery recycling facility will be fully operational in the second half of 2020. We will have a throughput of approximately 20,000 tons of feedstock per year.”
Doug Cole, American Battery Metals Corporation Chief Executive Officer