Despite the pandemic, the mining industry has remained resilient. In 2020, the top 40 mining companies in the world generated $544.4 billion in sales, up 4.4 percent from 2019. This is attributable to a rise in commodity demand as well as a recovery in economic activity. Since the launch of the COVID-19 vaccine, the outlook for mining commodities has improved. Iron ore is one of the raw commodities that has seen a recent uptick in price. According to analysts, iron ore producers are unlikely to limit production if profits continue at the $100/t level.
Here is Insider Monkey’s list of the 10 best mining stocks to buy now. Sibanye Stillwater Limited is a gold and platinum metals company. Following the acquisition of nickel and copper mines on October 26, the mining shares gained 3.5 percent. The mining business will pay $1 billion in cash to purchase these mines in Brazil. Bernstein and Macquarie both gave BHP Group an Outperform rating. The mining corporation produces iron ore, copper, nickel, coal, potash, and petroleum. 18 hedge funds had interests in BHP Group, totaling $753 million at the end of the second quarter of 2021. MP Materials Corp. is a rare earth mining business situated in Nevada. These materials are utilized in the production of electric vehicle batteries, medical equipment, and lasers. The company’s revenue increased by 143 percent year over year to $99.7 million in the third quarter. Rio Tinto Group is one of the largest mining corporations in the world. Copper, aluminum, iron ore, lithium, and diamonds are among the basic resources mined by the corporation. Insider Monkey tracked 873 funds, and 21 of them had interests in the company at the end of June. Cameco Corporation had its stock rise about 8% on November 3. The mining stock was raised from Neutral to Buy by Bank of America. According to the expert, Cameco would gain from the growing popularity of nuclear energy as a means of worldwide decarbonization. Comesco is a global company with operations in Asia, Europe, and the Americas. For more details, click 10 Best Mineral Stocks To Buy Now.
