Connect with us

Articles

Mining Small Cap Stocks Shot Up Yesterday, Here’s 4 to Watch

Mining small caps are heating up right now, here’s four you need to know…

Share this article:

Published

on

This article was originally published by PennyStocks

4 Mining Penny Stocks For Your Mid-October Watchlist 

In the past few days, mining penny stocks and specifically precious metals penny stocks, have been climbing substantially. Usually, when investors talk about precious metals stocks, the main discussion is surrounding those in the gold mining industry. And right now, gold stocks are seeing a great deal of hype. There are a few reasons for this that are worth exploring. For one, right now there is a large amount of inflation occurring in the U.S. 

[Read More] Hot Penny Stocks Under $1 To Watch Before Next Week

With the price of consumer goods rising substantially in the last year and a half, many investors have turned toward more stable penny stocks. This includes mining stocks and other securities that tend to fluctuate less than others. 

In addition to this, if we look at gold, we see that it is historically a safeguard asset. This means that investors turn to it in times of economic turmoil. So, if we consider all of this, the rise of gold stocks begins to make more sense. With all of that in mind, here are four mining penny stocks to watch right now. 

4 Mining Penny Stocks to Watch in October 2021 

  1. IAMGOLD Corp. (NYSE: IAG
  2. Harmony Gold Mining Company Limited (NYSE: HMY
  3. Yamana Gold Inc. (NYSE: AUY
  4. New Gold Inc. (NYSE: NGD

IAMGOLD Corporation (NYSE: IAG)

IAMGOLD Corporation is gold mining stock that managed to climb by roughly 3.2% on October 13th and in the past five days by over 12.8%. This is a company that develops and operates a variety of gold mining properties. The company is involved in the exploration and development of gold, silver, and copper mines. Currently, it owns an interest in the Rosebel mine, Westwood mine, Pitangui project, and more.

Early in August, the company revealed its financial results for the second quarter of this year. For IAMGOLD, which is still recovering from the pandemic and economic troubles of the previous year and a half, the numbers were less than stellar. Revenue for IAMGOLD fell quarter over quarter and year over year alongside lower gross profit and adjusted EBITDA. While it did report a net loss, it does look like gold demand is rising alongside inflation and overall economic concerns.

Despite these negative results, IAG stock has been climbing in the market. Do you believe that the company could make a comeback in the market? Well, IAMGOLD recently announced its third-quarter results release date. These results will be available after the market closes on Wednesday, November 3rd, 2021. This is the next key date to look out for if you plan on buying IAG stock. For now, will IAG be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_IAMGOLD_Corporation_(IAG_Stock_Chart)

Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited is another gold exploration, extraction, and processing company that climbed on October 13th. Some of the locations it mines in include South Africa and Papua New Guinea. In addition to gold, Harmony Gold explores for reserves of uranium, silver, and copper. Because of how broad its mining operations extend, many investors continue to show interest in Harmony Gold. It’s worth noting that it actively has nine underground operations in the Witwatersrand Basin.

[Read More] Top Penny Stocks to Watch? 3 Moving in Today’s Trading Session

In the company’s most recent update, its fiscal year 2021 earnings and revenue went up year over year. This has to do with increased metal prices and solid performance for the company. HMY stock often will move with the price of gold, silver, uranium, and copper themselves. The price of gold has the largest impact on Harmony, as that is the primary material that it searches for. In the last five days, shares of HMY stock have increased by around 13%, which is similar to IAG. With this in mind, will HMY be on your penny stock watchlist?

Penny_Stocks_to_Watch_Harmony_Gold_Mining_Company_Limited_HMY_Stock

Yamana Gold Inc. (NYSE: AUY)

Yamana Gold Inc. is next on the list of gold stocks that pushed up on October 13th. By EOD, shares of AUY stock had shot up by over 4%. If you’re not familiar, Yamana Gold is a company that produces precious metals in a variety of countries. Currently, Yamana produces both gold and silver at its properties. It currently has land positions, development-stage projects, and exploration projects located in Brazil, Canada, Chile, and Argentina.

As stated with the other gold stocks on this list, it’s worth keeping a close eye on the price of gold itself. We see that even if no company-specific news has come out, shares of AUY stock could fluctuate based on the changing price of gold. Right now, we are witnessing many investors turn to gold stocks as a way to hedge bets against inflation, and this could explain the recent gains for AUY stock.

In tandem with its bullish movement, the company’s volume is also slightly higher than its market average. Moving forward, the company plans on releasing its third-quarter financial results after the market closes on October 28th, 2021. Based on this info, will AUY be on your penny stock watchlist?

Penny_Stocks_to_Watch_Yamana_Gold_Inc._(AUY_Stock_Chart)

New Gold Inc. (NYSE: NGD)

New Gold Inc. is a mining corporation that develops and operates gold, silver, and copper resources. The company owns 100 percent of the Rainy River gold-silver mine in Ontario, Canada, and the New Afton gold-copper mine in British Columbia, Canada.

In mid-September, New Gold Inc. updated its fiscal 2021 operational outlook. At its Rainy River mine, New Gold aims to produce between 405,000 and 450,000 ounces of consolidated gold equivalent, down from 440,000-490,000 ounces before. The company’s guiding figures have decreased slightly as a result of this occurrence.

“While the reduction in our near-term guidance at Rainy River is unfortunate, I remain confident the mine has reached an inflection point, as evidenced by the free cash flow generated in the second quarter and the mine is on track to deliver an improved second half of the year.”

President and CEO of New Gold, Renaud Adams

With this new info in mind, will NGD stock be on your watchlist in October?

Penny_Stocks_to_Watch_New_Gold_Inc._(NGD_Stock_Chart)

Are Mining Penny Stocks Worth Buying or Not?

Mining penny stocks remain some of the hottest and most stable stocks to watch right now. While the future of the mining industry remains uncertain, right now, it could be worth keeping a close eye on.

[Read More] 3 Trending Penny Stocks For Your Small-Caps Watchlist Right Now

Considering that there are so many facets to look out for, understanding the ins and outs of the mining industry will help you to make money with penny stocks. With all of that in mind, do you think that mining penny stocks are worth buying or not?

The post Mining Penny Stocks Shot Up Today, Here’s 4 to Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

iamgold corporation

Author: J Dylan

Share this article:

Base Metals

Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains

Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the … Read More
The post Monsters of Rock:…

Share this article:

Lithium miners were the kings, queens, jacks and aces of the bourse on an avalanche of positive news around the sector.

The biggest trigger was probably the incredible rise in value for Tesla overnight, which soared beyond a US$1 trillion valuation on news Hertz would order US$4 billion worth of electric vehicles from the automaker.

As the leading electric vehicle maker in the western world, and with a big presence also in China and energy storage, Tesla is one of the biggest end users of lithium products globally.

Its boss Elon Musk, now the richest man ever, has a fair bit of sway on the market as well.

On top of that Pilbara Minerals (ASX:PLS), up 525% over the past 12 months since spodumene prices bottomed out at under US$400/t (it sold a batch for upwards of US$2000/t last month), gained 7.66% after formally announcing plans to develop a lithium chemical plant in a JV with South Korea’s POSCO.

Core Lithium (ASX:CXO) declared the start of construction on its Finniss Lithium Mine in the Northern Territory. That will be shipping concentrate from the end of 2022.

$550 million capped Neometals (ASX:NMT) was up 14% after announcing its battery recycling demonstration plant in Hilcenbach, Germany, had been fully commissioned.

The one time lithium miner is up 405% over the past year.

Vulcan Energy (ASX:VUL), Sayona (ASX:SYA), Liontown (ASX:LTR) and Orocobre (ASX:ORE) were among the lithium miners to dine out on the day’s news, while rare earths miner Lynas (ASX:LYC) was also up.

On the flippity flip, iron ore miners were weak with Fortescue (ASX:FMG) and Rio Tinto (ASX:RIO) cancelling out a gain from BHP (ASX:BHP), while Mineral Resources (ASX:MIN) cancelled out the gains it made with yesterday’s announcement the Wodgina lithium mine would be coming back online with news it ate a 48% price discount on iron ore sales in the September Quarter.

MinRes’ average realised prices fell from US$178/t to around US$78/t between the June and September Quarters.

lithium stocks powered the miners today
The bright green is all lithium baby. Pic: Commsec

 

Base metals inventories falling, but can it be sustained?

Base metals were back up on Monday, with production cuts in energy starved China and Europe hitting primary supply.

Inventories held by the major exchanges are being chewed up.

While price moves among the miners was muted, nickel rose 3.2% to climb back over US$20,000/t overnight after hitting US$21,000/t briefly last week.

“Nickel rallied after Eramet disclosed a 19% drop in ferronickel production from its operations in New Caledonia,” ANZ analysts said in a note.

“The market is also showing signs of tightness, with cash contracts closing at their biggest premium to futures in two years. LME inventories are down nearly 50% since April.”

LME stockpiles for copper hit their lowest level since 1974 last week, but Commbank analyst Vivek Dhar says it is too early to say whether the market is as tight as it seems, or whether some traders are hoarding to capitalise on high prices.

The market is expected to be in a small deficit at the end of this year to a 328,000t surplus in 2022 on rising supply (about 1.3% of global demand).

Mined supply is expected to increase 2.1% this year and 3.9% in 2022, but Dhar warned copper miners had a history of underwhelming.

“The rising forecasts for copper mine production reflect 5 major copper projects due to arrive by the end of 2022,” Dhar said.

“That compares with just two major copper projects in the last 4 years.

“Given the track record of mine disruptions (i.e. labour strikes, power and water scarcity and geopolitics) and the decline in copper grades, elevated copper mine production growth forecasts don’t tend to last long.

“We think it’s worth considering that new mine supply may take longer than currently expected to hit the market.”

The post Monsters of Rock: Lithium shares flush with positive sentiment to dominate the gains appeared first on Stockhead.







Author: Josh Chiat

Share this article:

Continue Reading

Energy & Critical Metals

Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths

Let’s get into it. Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective. It’s in an … Read More
The post Chart of the Day:…

Share this article:

Let’s get into it.

Iconic Rare Earthss (ASX:IXR) is a bullish set up from a technical perspective.

It’s in an uptrend. The moving averages are sloping up.

It’s shown us that when it wants to the market can get a hold of it – as evidenced by the fierce run from 1.5c to 6c at the start of this year.

 

ASX IXR
Chart of the Day: Ionic Rare Earths (ASX:IXR)

There are no immediate gaps on the chart to worry about that need to be filled.

The company surpassed 4c resistance yesterday on increasing volume, which was a positive sign. However, after touching 4.5c in intra-day trade, it has now settled back to close at 4.2c, leaving a daily selling candle.

That infers that a test of 3.8 – 4c may be on the cards.

In our view that would make attractive buying.

Given the negative response to the scoping study in late April, there are plenty of immediate upside targets, the most immediate being 4.7c, with further potential to those March highs above 6c.

Back the other way, and we don’t need to hold this below 3.5c.

The company is well funded – reporting over $11m on balance sheet at their last quarterly – with an updated quarterly anticipated before the end of the month.

We are long as of yesterday, and will manage the trade to the above risk, looking for 4.7c first, with potential to above 6c if things go their way.

Steve Collette of Collette Capital Pty Ltd (ABN 56645766507) is a Corporate Authorised Representative (No. 1284431) of Sanlam Private Wealth (AFS License No. 337927), which only provides general advice.

Collette Capital only makes services available to professional and sophisticated investors as defined by the Corporations Act, Section (s)708(8)C and 761G(7)C.

The Collette Capital Wholesale IMA Strategy has returned +24.83% p.a. net of all fees as at the end of September 2021 since inception in January 2015 (using the Time Weighted Return method of calculating returns).

Learn more at www.collette.capital

The post Chart of the Day: Plenty of immediate upside targets for Ionic Rare Earths appeared first on Stockhead.


Share this article:

Continue Reading

Energy & Critical Metals

Hastings could be next in line to produce rare earths in Australia with plant approval in Onslow

Rare earths player Hastings Technology Metals (ASX:HAS) has just secured environmental approval for construction of the downstream processing plant at…

Share this article:

Rare earths player Hastings Technology Metals (ASX:HAS) has just secured environmental approval for construction of the downstream processing plant at its Yangibana rare earths project in Onslow in WA.

It’s a solid step on the path to production, with the plant set to perform hydrometallurgical processing of rare earths oxide concentrate from Yangibana into mixed rare earth carbonate (MREC) containing high levels of neodymium and praseodymium concentrate (NdPr).

NdPr are vital components used to manufacture permanent magnets that are required in advanced technology products ranging from electric vehicles to wind turbines, robotics, medical applications and digital devices.

And Yangibana contains one of the most highly valued NdPr deposits in the world, with NdPr:TREO ratios of up to 52%.

Australia’s next rare earths producer?

The Department of Agriculture, Water and the Environment (DAWE) approval follows DevelopmentWA Board sign-off last month for the company to enter discussions for an option to lease Ashburton North Strategic Industrial Area (ANSIA) Lot 600.

“This is a significant milestone for our Yangibana Rare Earths Project and further endorses Hastings’ decision last year to decouple the processing plant from the Yangibana mine site,” executive chairman Charles Lew said.

“The Commonwealth environmental approval will allow Hastings to construct the Onslow Rare Earths Plant for a full production rate of 15,000 tonnes of MREC per annum, unlocking the high-quality and NdPr-rich rare earths carbonate that we will produce at Yangibana.”

“Importantly, the Commonwealth approval is another positive step in Hastings’ journey to become Australia’s next rare earth producer.”

“Debt financing talks are advancing well and scheduled for conclusion before the end of this year and early stage civil works at the Yangibana mine site are in progress.”

Pic: Location of ANSIA highlighting the site chosen for the Onslow rare earths plant.

Plant construction kicks off in 2022

The company says that building the plant at ANSIA – which is around 15kms south-west of Onslow – is key to its downstream processing program because it offers access to piped natural gas, a plentiful supply of water and grid power.

Plus, the ANSIA location reduced the volumes of consumables and reagents needed to be transported to the Yangibana mine site by up to 80%.

Construction of the plant is due to begin in 2022, after the completion of early works at Yangibana mine site – and in line with Hastings’ target to produce its first MREC in early 2024.

The post Hastings could be next in line to produce rare earths in Australia with plant approval in Onslow appeared first on Stockhead.




Author: Emma Davies

Share this article:

Continue Reading

Trending