The world of mining stocks has been quite volatile and crazy in the last 365 days. Just a year ago, things seemed very normal in the world of mining stocks. Everything turned around when the pandemic arrived and pushed metal prices higher than ever. Gold and silver reached new record high prices in the market. Now in 2021, the hype seemingly continues for mining stocks. After New Years, mining stocks shot up in price following the rise up in the prices of gold and silver. This momentum lasted for about a week before prices went back to “normal” for gold and silver at $1850 and $25 respectively.
Currently there are a few things impacting the price of mining stocks. The first of which is the election, in which the inauguration is approaching pretty quickly. The election every 4 years often affects the stock market, especially this important inauguration that is coming up. The stimulus issued from the government made precious metal prices go up too, as stimulus hurts the price of the dollar. There are a variety of things that are moving mining stocks at the moment as you may know. The year just started so there could be plenty of things in store. So let’s take a look at the four top mining stocks to watch in January 2021.Top Mining Stocks To Watch
- Turquoise Hill Resources Ltd. (NYSE: TRQ)
- Great Panther Mining Limited (NYSE: GPL)
- Caterpillar Inc. (NYSE: CAT)
- Golden Minerals Company (NYSE: AUMN)
The first company on this list of mining stocks is Turquoise Hill Resources Ltd. Turquoise Hill is a mining company that primarily will explore for copper, gold, and silver deposits. Its main property is the Oyu Tolgoi copper and gold mine located in Mongolia. Previously known as Ivanhoe Mines, the company has made a name for itself. Recently it was announced that the Mongolian Government is considering terminating and replacing the development and financial plan for the above-mentioned mine. This could be an interesting step in the future for the company, so now we wait to see what will come of that announcement.
Just 6 months ago, TRQ stock price was at about $8 a share on average. Now as of January 11th, TRQ stock price has reached $11.70 a share on average. But this comes after a steep decline from $14.50 a share on January 8th, after the news broke about the Mongolian Government. So this mining stock is in a weird place where we won’t really know where it goes until another update comes from the company. But regardless, this mining stock is up a lot in the last year, one year ago being under $7 a share on average. TRQ stock has potential for the future, but nobody knows what will happen for sure. That is the first mining stock to watch.Great Panther Mining Limited
Next up on this mining stock list is Great Panther Mining Limited. Great Panther Mining explores for silver, gold, lead, copper, and zinc ores at all of its locations. These mineral deposits include the Tucano gold mine in Brazil, numerous assets in Mexico, among others. Great Panther recently had to suspend its operations at its Topia mine located in Mexico due to pandemic regulations. But then shortly after, these operations started back up again. What does GPL stock’s performance look like this year so far?
GPL stock started the year on a high note, reaching above $0.95 a share. But now as of January 11th, GPL stock price has fallen below $0.83 a share. But does this mining stock have a chance to recover? Well that will depend on future updates from the company. It will also depend on the direction in which precious metals move price wise. GPL stock has showed great momentum in the past, but that doesn’t suggest anything for the future during this volatile state in the world. For now, GPL stock is a potential mining stock to watch.Caterpillar Inc.
The final company on this list is Caterpillar Inc. Caterpillar Inc. manufactures and sells construction and mining equipment, as well as gas engines, turbines, and much more. Some of its construction items include utility vehicles, pavers, etc. It offers a plethora of other products as well, and is one of the leaders in its sector. So how Caterpillar is affected in the scene of mining stocks, and how is CAT stock performance in 2021?
Well, Caterpillar is affected by the mining sector as it creates equipment that many mining companies use. When more industrial companies are at full operational levels, CAT stock benefits from it. As a result, CAT stock can often move with the price of other mining stocks based on industrial demand. CAT stock price reached $194 a share on average on January 11th, 2021. This was from a big uptick from $184 a share on average on January 5th, 2021.Golden Minerals Company
Next up on this list is Golden Minerals Company. Golden Minerals Company is a precious metal exploration company that focuses on development, mining, construction, and exploration at mineral properties. Golden Minerals currently searches for gold, silver, zinc, lead, and more. It also holds interest in the El Quevar silver property, and many other properties. What has AUMN stock price been up to in 2021 so far?
In the last month, AUMN stock price has been on a steady incline. AUMN stock was at $0.56 just 6 months ago, and now it has reached $0.74 a share on average as of January 11th. The company started mining at the Rodeo Gold Project just 21 days ago, in which it drilled 48 holes. It expects a first pour of dore from Rodeo toward the end of this month. Its CEO stated, “Thanks to the efficiency of our team in Mexico and the experienced and capable contract mining group, we have started mining at Rodeo about two weeks ahead of schedule.”