The world of mining stocks was seemingly normal before the pandemic came. When the pandemic arrived, it also caused a boom in the price of precious metals. This, in turn, brought the price of many mining stocks up, some even to new record highs in the market. But now we are in 2021, so where do things stand? Well, when a 900 billion stimulus bill was approved, it caused an uptick for mining stocks in the first week of January. In the second week of this month, these prices fell back down. The price of gold is still holding above $1,800 per ounce at the moment. In the third week of January, mining stocks have received a small uptick once again.
Some investors may shy away from these due to the volatility of the assets at the moment. To be fair, the price of precious metals can move based on a lot of things. But there are still many great mining stocks to watch at the moment. The pandemic is one of the biggest reasons precious metals have held their current price points and even push higher. Pandemic numbers are continuing to jump despite the vaccine being distributed, and it could stay this way for a while. So, for now, many investors are still turning to mining stocks to make a profit. This sector advances further every month right now, so it will be interesting to see how it continues through 2021. For now, let’s have a look at three mining stocks to watch before February.Top Mining Stocks To Watch
- Alexco Resource Corp. (NYSE: AXU)
- Excellon Resources Inc.(NYSE: EXN)
- Golden Minerals Company (NYSE: AUMN)
First up on this mining stock list is Alexco Resource Corp. Alexco Resource will explore for minerals and develop mines and operational activities. Most of its operations take place in Yukon Territory, Canada. Alexco actively looks for silver, lead, zinc, and gold deposits. It holds an interest in the Keno Hill Silver District project with many deposits within, such as 725 quartz leases, 873 quartz claims, 24 mining claims, and more. Let’s look at its 2021 performance so far.
On January 19th, Alexco released full 2020 exploration results and an operational update. The company stated that its 2020 surface exploration program finished more than 7600 meters of core drilling in 14 holes. The Chairman and CEO of the company said, “The discovery of a significant zone of high-grade silver mineralization beneath the Bermingham deposit confirms that this is one of the more significant silver deposits in the entire Keno Hill Silver District, rivaling the extent of the historic Hector-Calumet deposit, which produced 96 million ounces of silver before shutting down in 1972.”Excellon Resources Inc.
Excellon is a silver mining and exploration company. It will acquire, explore for, evaluate, and develop mineral properties in Mexico and Canada. Mainly Excellon will search for silver, lead, zinc, and gold deposits. One of its main properties is the Platosa property that covers 14,000 hectares of land in Mexico.
On January 14th, the company released its fourth quarter and annual 2020 production results from its Platosa Mine. Its silver equivalent production went up 18% year over year. The President and CEO of the company, Brendan Cahill, stated, “Our metal production for 2020 was not far off 2019, despite losing almost an entire quarter of production due to the pandemic – a testament to the resilience and perseverance of our operational teams.” That is the latest that has come from this mining company. EXN stock price is at $2.70 a share on average as of January 20th.Golden Minerals Company
Now let’s talk about Golden Minerals Company. It is a precious metal-based exploration and development company. It will mine, construct, and explore mineral properties. The company primarily looks for silver, gold, zinc, lead, and a variety of other minerals. Most of its properties are located in the United States, Mexico, Argentina, and various states within the US. Let’s have a look at the company’s 2021 performance and updates so far.
[Read More] Top Mining Stocks To Watch In Mid January
On January 13th, the company announced it had started gold production at its Rodeo gold project located in Durango State, Mexico. This announcement comes two weeks ahead of its schedule while staying on budget. The company also recently regained full compliance with the continued listing standards of the NYSE American Company Guide. That is the latest from the company. AUMN stock price is performing similarly to other mining stocks in the same sector.Where Will Mining Stocks Be Next Week?
In light of new stimulus measures coming to light, it should be an interesting week for mining stocks. On several occasions, we’ve discussed companies with a diverse exploration model. These include not only traditional precious metals but also things like rare-earth metals that’ve become popular recently. Keeping this in mind, heading into the final week of January, current economic conditions could play a bigger factor for different corners of the metals market.