There are so many things that are affecting the price of mining stocks at the moment. Usually what has impacted this sector through mid 2020 has been jobless reports like unemployment, and news about stimulus. Now we are in December where mining stocks could be making a drastic change very soon. This all depends on the rate in which current events are executed. What is currently impacting mining stocks is vaccine news and a proposed stimulus bill. First off, the COVID-19 vaccine could be approved as soon as Friday. This comes as the White House pushes the FDA to approve the COVID-19 vaccine faster than expected.
Then there is the bipartisan government bill that could issue stimulus to Americans. It is currently being debated by negotiating Senators. They are trying to propose different deals and amendments to the current deal to make something work. If more stimulus is issued from the government then it will have a positive effect on the price of gold and other precious metals. So now we await to see what will happen next once both of these things see more advancement. There are plenty of mining stocks to watch even in this state of volatility. So now let’s look at four mining stocks to watch.
Read MoreTop Mining Stocks To Watch: Albemarle Corporation
The first company on this list of mining stocks to watch is Ablemarle Corporation (ALB Stock Report). Ablemarle is a company that develops, manufactures, and markets engineered specialty chemicals. It operated in three different segments, being Lithium, Bromine Specialties, and Catalysts. Its Lithium section offers lithium compounds like lithium carbonate, lithium, hydroxide, and more. This is used for batteries in electric vehicles among a variety of other things. Its cesium products are used in pharmaceutical and chemical industries. Furthermore, bromine solutions have applications in fire safety, chemical synthesis, water purification, beef and poultry processing and more.
On December 10th, Ablemarle spoke at the Benchmark Minerals Lithium Conference 2020. Back in November on the 18th, the company announced that it is serving as a founding member of ZETA. This act, ZETA, is a U.S. based coalition that is committed to reaching 100 percent electric vehicle sales by 2030. Its plans are to advocate for national policies that enable the full adoption of EVs by 2030, to support creating new jobs and reduce carbon pollution.
The company stated, “As an industry leader and major U.S. producer of lithium, Albemarle is committed to powering the potential of clean energy and is excited to join ZETA’s mission in positioning the U.S. to support a clean and sustainable environment.”
ALB stock price was under $100, around $72 a share to be precise at the start of 2020. As of December 11th, ALB stock is now at $138 a share on average.Top Mining Stocks To Watch: Lithium Americas Corp.
The next company to watch on this list Lithium Americas Corp. (LAC Stock Report). Lithium Americas Corp. is a resource corporation that explores for lithium deposits. The business holds interest in the Cauchari-Olaroz Project, Thacker Pass project, and more. These developments are located in Argentina and Nevada. Continuing on, let’s take a look at the company’s recent advancements and company performance.[Read More] Which Mining Stocks Are Pulling Ahead? 4 To Know
Back on November 16th the company reported financial results for the third quarter of 2020. Its projects are all active with protocalls for the pandemic in place at the moment. On December 4th the company announced its final environmental impact statement filed for the Thacker Pass Project. The CEO of the company, Jon Evans said, “The publication of the Final EIS is the culmination of more than a decade of work studying, exploring and developing the Thacker Pass project.” These advancements are why LAC stock is increasing in price throughout 2020. Now we wait to see future advancements from the company to find out what is next and what direction this mining stock will move in.Top Mining Stocks To Watch: Southern Copper Corporation
The next mining stock to watch is Southern Copper Corporation (SCCO Stock Report). Southern Copper Corporation is a mining corporation that explores, smelts, and refines copper. It does these operations in Mexico, Chile, Peru, Argentina, and Ecuador. It mines copper ore, smelts copper concentrates, refines, and produces it. The company actively has interests in 37,622 hectares of land in Peru, 147,974 hectares in Mexico, 63,453 hectares in Argentina, 42,615 hectares in Chile, and about 7,200 in Ecuador. Now let’s see what Southern Copper has been up to in recent times.
The company launched its third quarter financial reports back in November. In these reports the company announced net sales increases of 14.5% year over year to $2,129 million. In addition to this, it stated that of these sales copper was 82.2% of them. Southern Copper has managed to get its operational percentage up to 96% as of this recent report. The company’s operations opened because of increased COVID testing, health monitoring, and strict protocols. As a result the company’s EBITDA rose 46.2% over the second quarter of 2020. This is why SCCO stock is increasing in price this year.Top Mining Stocks To Watch: Westwater Resources
The last company on this list of mining stocks is Westwater Resources (WWR Stock Report). Westwater Resources is an energy materials development company that is based in the United States. The company will mainly discover lithium, graphite, uranium, and vanadium deposits at its mines. Its main project is the Coosa graphite project that covers 412,965 acres in Alabama. It also owns projects located in Nevada, Utah, New Mexico, and Texas. Let’s see what Westwater Resources is doing now and how it is performing in the market.
In the company’s third quarter results its net cash went up 42% year over year. This was great for the company. This happened because of increased graphite product development and other expenses. The company’s net loss rose, due to COVID related issues. WWR stock price is still higher than what it started the year at. That is the last company on this list of mining stocks to watch. Stay updated on the sector to see what future advancements are to come from these mining companies.