Agnico, B2Gold, Endeavour, Barrick, Rio Tinto: These 5 Mining Stocks Saw The Biggest Retail Buzz Surge Last Week
Metals and mining stocks beat the broader markets to surge last week, as rising gold prices turned retail investors optimistic about the industry’s prospects.
Agnico Eagle Mines Ltd. (800% Jump In Message Volume)
The company said it invested $44 million in Collective Mining through subscription to the common stock and early exercise of warrants.
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This will give Agnico a 15% stake in Collective Mining, and the proceeds will be used to fund the latter’s Guayabales project in Colombia.
Agnico’s stock is up more than 32% year-to-date (YTD).
B2Gold Corp. (700% Jump In Message Volume)
A surge in gold prices due to a continued retreat in equities pushed up stocks of several gold mining companies, including B2Gold.
The Canadian mining company recently received price target hikes and rating upgrades following its first-quarter results. Analysts at Cormark upgraded the stock to ‘Buy’ from ‘Market Perform,’ according to The Fly. Canaccord analysts hiked their price target for the stock to C$7.75 from $7.50, with a ‘Buy’ rating.
The stock is up more than 21% YTD.
Endeavour Silver Corp. (700% Jump In Message Volume)
Endeavour Silver’s fourth-quarter earnings beat Wall Street expectations, as the company posted earnings per share (EPS) of $0.02 in Q4, while analysts expected a loss of $0.01 per share.
The Canada-based mining company also provided an update on the Terronera project’s status, saying it is 89.4% complete, with the construction expected to wrap up by Q2 2025. Commercial production is expected to commence in Q3.
The stock is up nearly 29% YTD.
Barrick Gold Corp. (232% Jump In Message Volume)
In its annual report on Friday, the company said it remains focused on growth and value creation. It also provided an update on its feasibility studies for the Lumwana Super Pit expansion in Zambia, and the Reko Diq project in Pakistan.
Barrick Gold said that while the Lumwana project will contribute 8.3 million tons of copper reserves, the Reko Diq project adds 13 million ounces of gold and 7.3 million tons of copper reserves.
The stock is up more than 21% YTD.
Rio Tinto Plc. (200% Jump In Message Volume)
Rio Tinto signed new solar and battery power agreements with Edify Energy last week.
Rio will purchase 90% of the power generated by Edify’s Smoky Creek & Guthrie’s Gap Solar Power Stations for 20 years. The renewable energy provider will build, own, and operate the projects, and construction is expected to commence in late 2025 and be completed in 2028.
Rio is also reportedly issuing $9 billion in bonds to finance its acquisition of Arcadium Lithium Plc., according to Bloomberg.
The stock is up over 7% YTD.
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