KL - These Mining Stocks Are Showing Great Momentum But Are They A Buy?
Top Mining Stocks To Buy Or Sell
Prices have gone up a good amount on December 1 st for gold and silver. This comes after a proposed $908 billion plan for COVID-19 stimulus relief was announced by a group of bipartisan senators. But the Senate Majority Leader Mitch McConnell shut it down right away as the President was not likely to approve it. But President-elect Joe Biden has been planning an early stimulus bill with his transition team. This could potentially come into effect right after Biden is inaugurated in January. When there is more stimulus from the government, the price of gold goes up. This can place many companies for your list of gold stocks to watch.
On December 1 st , gold prices went back above $1,800 after falling short of that number for the last week or so. The Dow posted its best month since 1987 as well on December 1 st . This also helped many gold stocks rise up. Vaccines still could be coming, which will not affect gold prices positively. If a vaccine begins to be widely distributed throughout the world, gold prices will fall. This is because vaccines are one of the building-block steps when it comes to recovering the economy. Let’s now have a look at some gold stocks that have increased in value on the day of December 1 st .
Top Mining Stocks To Buy Or Sell: First Majestic Silver Corp.
The first mining stock to watch is First Majestic Silver Corp. ( AG Stock Report ). First Majestic will acquire, explore, develop, and produce product at a variety of mineral properties. Primarily, the company will search for silver deposits at all of its mines. These mines include the Santa Elena, San Dimas, and La Encantada mines in Canada and Mexico. In 2020 this company has performed very well, so let’s see what it has been up to recently.
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The most recent update from First Majestic Silver comes in the form of its third quarter financial results for 2020. The company reported record revenues of $125.9 million, up 30% year over year. This was a result of the company selling stockpiled inventory from the previous quarter, and the increasing metal prices throughout the year. The result? Its mine operating earnings went up a total 73%. AG stock price is up nearly 6.4% on the date of December 1 st 2020. That is why AG stock has made it on many investors list of silver stocks to watch .
Top Mining Stocks To Buy Or Sell: Kirkland Lake Gold Ltd.
Next up on this list of mining stocks is Kirkland Lake Gold Ltd. ( KL Stock Report ). Kirkland Lake Gold is a mining company that will acquire, explore, and operate various mineral properties. Its main properties are the Fosterville Mine and Macassa Mine. Its properties are generally located in Canada and Australia. Kirkland holds an agreement with Newmont Corporation ( NEM Stock Report ). To assess regional exploration opportunities on property. Let’s look at what Kirkland has been up to in recent history.
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Like many other companies, its recent update comes in the form of third quarter earnings and the first 9 months of the year. Its adjusted net earnings shot up 49% year over year to $249.3 million. This was a 14% increase over the previous quarter as well. Its net cash from operating activities rose 52% to $431.1 million year over year as well. On November 26 th the company announced the sale of its Novo shares and warrants. It will sell 18,500,000 shares at $2.45 per unit for gross proceeds to Kirkland of $45,325,000. This is the most recent update that has come from Kirkland. On December 1 st , KL stock price is up around 75%.
Top Mining Stocks To Buy Or Sell: Franco-Nevada Corporation
The next mining stock to buy or sell is Franco-Nevada Corporation ( FNV Stock Report ). Franco-Nevada Corporation is a royalty and stream mining company. It mainly focuses on gold but also will work with silver and platinum group metals. Additionally Franco-Nevada works with gas and energy comprising oil too. Its main chapters of the company are energy and mining. Let’s have a look at what Franco-Nevada Corporation has been up to in recent times and what its performance looks like.
During earnings season, it reported its third quarter results on November 4 th . It hit a record EBITDA and net earnings too. The company’s revenue went up 19% to $279.8 million which was big news for the company. Its net income also saw a large increase to $153.9 million, up 51%. This caused big increases in FNV stock price, which made Franco-Nevada a great gold stock to watch. Franco-Nevada Corporationdeclared a dividend payable on December 17 th to its shareholders. This is all of the recent updates that have come from this mining company.
Top Mining Stocks To Buy Or Sell: Freeport-McMoRan Inc.
The final company on this list is Freeport-McMoRan Inc. ( FCX Stock Report ). Freeport-McMoRan is a mining corporation that will find copper, gold, silver, molybdenum and other precious metals. It primarily operates properties in North America, South America, and Indonesia as well. Freeport-McMoRan also has operations that look for oil and gas. As of December 31 st 2019, the company had about 116 billion pounds of copper, 29.6 million ounces of gold, and more in its consolidated recoverable proven and probable mineral reserves. Let’s see what Freeport-McMoRan has been up to recently.
The most recent update from the company comes on October 22 nd when it released its earnings results. It announced that its copper sales rose between 6-7% higher in July passing estimated numbers. Its operating plans are being “strongly executed” according to the company at the moment. Even though the pandemic has negatively affected the company, its stock price has performed well this year. As of December 1 st , FCX stock price is at about $23.70 a share on average. Just at the start of 2020, this copper stock was at $13 a share on average. That is why Freeport-McMoRan has made it on to this list.