If you want to invest in mining stocks, you know that gold and silver are down at the moment. This is as a result of vaccine news that was recently released. Two major pharmaceutical companies claim to have a vaccine about 95% effective treating the COVID-19 virus. This is not the only thing that has caused a drawback in precious metals. But if the economy shows signs of falling, gold and silver prices go down. So what about other minerals? Some mining materials are not affected like gold and silver are.
Companies that mine for lithium are able to perform well because it is being used in electric vehicles and electronics. Companies that mine platinum group metals are performing well too. Anything from graphite, to palladium, are not affected like gold are. So if you want to invest in mining stocks while gold and silver are down, there are great alternatives.
Some new traders will assume that gold and silver stocks are the only mining stocks that matter, when it is simply not the case. Mining stocks have been able to generate profit for investors who have played smart this year. Now let’s take a look at some top mining stocks to buy or sell before the month of December arrives. Where should these be on the overall list of mining stocks this month?Top Mining Stocks To Buy Or Sell In December: PolyMet Mining Corp.
The first mining stock to watch is PolyMet Mining Corp. (PLM Stock Report). PolyMet Mining Corp. is a mining company that explores at and develops natural resource properties. One of its main mineral properties is the NorthMet project located in Minnesota. This project covers copper, nickel, cobalt, gold, silver, and platinum group metal mineralization. The land, which is more than 4,300 acres, has been able to do well for the mining company. So let’s see what PolyMet Mining Corp. has been up to when it comes to recent news.
On November 5th, PolyMet filed its financial results for the three and nine months ending on September 30th. The company’s cash and equivalents grew immensely year over year, as did its working capital. Its overall loss for the three month period was $3.3 million compared to $1.6 million the previous year as a result of additional studies and further evaluation of mineral resources. During the period in August, PolyMet completed consolidation of its common shares at ten pre-consolidation common shares for one post-consolidation common share. It also successfully defended the legal defense of its operating permits in court. It has received favorable final decisions in 6 of its cases.
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Next up on this list is Sibanye Stillwater Limited (SBSW Stock Report). Sibanye Stillwater Limited is a mining company that operates land in the United States, Canada, South Africa, Zimbabwe, and Argentina. It produces gold, platinum group metals like palladium, platinum, and rhodium. The company also produces iridium, nickel, copper, chrome, and ruthenium. It owns plenty of mines, so let’s see how that company’s performance has been in recent history. SBSW stock has been performing well throughout 2020.
On October 15th it was reported from Sibanye Stillwater a notification of acquisition. This is an acquisition of “beneficial interest in securities by BlackRock”. On October 29th, it reported an operating update for the quarter ending on the 30th of September. Its PGM production went up year over year, as did its PGM recycling. Its adjusted EBITDA went up year over year as well. Sibanye produced more gold than back in 2019, with a higher average gold price as well. The company stated, “The operational recovery from the severe lockdown in SA in response to the COVID-19 pandemic has progressed well. The proactive and decisive response by the Group to address the COVID-19 challenges, while ensuring the integrity of the operating environment and the safety of all our employees has been pleasing.”Top Mining Stocks To Buy Or Sell In December: Vale S.A.
Now let’s talk about Vale S.A. (VALE Stock Report), the next mining stock to buy or sell. Vale produces and sells iron ore and iron ore pellets for use as raw materials in such processes as steelmaking. It operates in three segments; Ferrous Minerals, Base Metals, and Coal segments. Some of the materials it produces is gold, silver, copper, cobalt, manganese, and more. It additionally offers platinum group metals. Let’s see what Vale has been up to in recent times.
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Vale S.A. reported its third quarter results on October 28th. In these results its net income was $2.9 billion, up from $1.7 billion the previous year. Its net operating revenue went up to $10.8 billion from $10.2 billion. It also reported adjusted earnings before interest, taxes, depreciation, and amortization of $6.1 billion which was up from $4.6 billion year over year. The company dealt with a tragedy back in January 2019 when a dam containing mining waste in Brumadinho took the lives of 270 people, including Vale employees. The company has reported spending $403 million related to the tragedy in the first 9 months of the year. Down from $6.3 billion in the same period just one year before.Top Mining Stocks To Buy Or Sell In December: Westwater Resources Inc.
The final mining stock to buy or sell before December is Westwater Resources Inc. (WWR Stock Report). Westwater Resources is an energy materials company with a diverse line of product. It mostly explores for lithium, graphite, uranium, and Vanadium deposits. Its main property is the Coosa graphite project that covers 41,965 acres in east central Alabama. It also holds interest in various lithium projects, and various uranium projects.
On November 12th, Westwater released its third quarter results and a business update. In this update it reminded investors of a 30 metric ton delivery of natural flake graphite concentrate at a pilot plant contractor in Germany. It also continues to develop its processes and production this quarter. In September it entered a letter of intent to sell its U.S. uranium business to enCore Energy Corp. Westwater will get $2 million shares of enCore and keep its royalty interests on New Mexico properties. It will close on or before December 31st, 2020.