Mining stocks have been quite an interesting sector in 2020. Because while the economy has fallen, mining stocks have had this upwards trajectory. This is in part due to the rise in price for silver, gold, and other precious metals. After recent news about upcoming COVID-19 vaccines came out, these precious metals fell in price though. Multiple companies have stated they have vaccines that could be 95% effective in Covid treatment. On the other hand, the election is impacting prices positively as the dollar slips in price. So what other types of mining stocks are there when gold and silver are down?
There is one type of mining stock that you may have not been focusing on. This would be companies with a focus on lithium. Lithium is being used in batteries for electric cars all around the world. As you know, electric vehicles have taken the automotive market by storm. This has resulted in the increase of lithium related mining stocks throughout 2020. The mining sector can get quite confusing so it is important to know the most recent information. Let’s look at some top mining stocks to buy or sell in November.Top Mining Stocks To Buy Or Sell: Pan American Silver Corp
The first mining stock to watch is Pan American Silver Corp (PAAS Stock Report). Pan American Silver is a mining company that explores, develops, extracts, processes, refines, and reclaims at mines. The company operates these mines in Canada, Mexico, Peru, Argentina, and Bolivia. Pan American will also sell gold, zinc, lead, and copper as well. Pan American has interest in many mines that all contribute to its revenue. So let’s dive into the financial results that have come from the company.
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Recently the company announced on November 4th its third quarter financial results. It was announced that it had lower operating costs during the quarter. It also had stronger metal prices that brought its mine earnings to $124.6 million this quarter. The company stated that all of its projects and operations are active now and has bounced back from earlier in the year. Early 2020 it had to deal with many COVID-19 related restrictions but it is performing well now. It will be interesting to see how PAAS stock price advances in the coming months with elections and vaccine news.Top Mining Stocks To Buy Or Sell: Fortuna Silver Mines Inc.
The next company on this list is Fortuna Silver Mines Inc. (FSM Stock Report). Fortuna Silver Mines is a mining company that will explore, extract, and process various precious metals. The company looks for silver, gold, zinc, and lead deposits. It primarily works at the Caylloma and San Jose mines, as well as the Lindero Gold Project. Let’s have a look at the recent updates that Fortuna Silver has provided to the public.
Fortuna Silver announced its third quarter results for the year on 2020. This announced sales increases of more than $20 million. It also announced net income of $13.1 million against net losses of $7.7 million the previous year. This resulted in increases in EBITDA, net income, and free cash flow as well. As for the total silver and gold production, it was 2,127,746 ounces and 12,791 ounces respectively. Currently FSM stock price is down as a result of the vaccine news that was released recently. But now we will see what is in store next for this mining stock as the months go by.
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Next up on this list is First Majestic Silver Corp. (AG Stock Report). First Majestic is a mining corporation that acquires, explores, develops, and produces mineral products. It will search for silver mostly, but also finds other minerals too. It has interest in the San Dimas, Santa Elena, and La Encantada mines. These are located in both Canada and Mexico. Now let’s see what First Majestic held in its third quarter earnings.
The company reached record quarterly revenues of +30% to $125.9 million. This was a result of stockpiled metal inventory that First Majestic s old off from the previous quarter. Rising metal prices also resulted in positives for the company. It was able to cut cash costs by 35% to $2.49 in the quarter as well. The company experienced a 73% uptick in mine operating earnings as a result of that stockpiled inventory as well. AG stock is down due to lower metal prices after vaccine news.Top Mining Stocks To Buy Or Sell: Piedmont Lithium Limited
The final top mining stock to buy or sell is Piedmont Lithium Limited (PLL Stock Report). Piedmont Lithium will explore and develop various resource projects all over the United States. It holds a 100% interest in the Piedmont lithium project that covers more than 2,126 acres in North Carolina. It additionally owns a 61 acre property in Kings Mountain, North Carolina for similar exploration purposes.
On November 17th, Piedmont Lithium announced that it has expanded its drill program. The company expanded the program by 25,000 meters with three new drill rigs added for a total of five. The drilling to expand mineral resources is looking positive at the moment. It estimates resource updates will be available in the first quarter of 2021. It also stated that its infill drilling will target upgrade its mineral resources on the Core property from inferred to indicated classification. The CEO of the company, Keith D. Phillips said, “Our dual objectives are to upgrade the current Inferred Resources within the Core Property to support our upcoming DFS, while also growing the overall scale of our mineral resource tonnage.” PLL stock price has gone from around $8 a share at the start of the year to now being at $28 a share on average as of November 24th. This great news for the company has been great for investors as well. PLL stock even peaked at around $42 a share at one point in 2020.