Snow Lake, Northern Dynasty, Silvercorp, Piedmont, Gold Resource: 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.
FollowSnow Lake Resources Ltd. (1,575% Jump In Message Volume)
Last week was a busy one for Snow Lake – the uranium miner announced a $10 million share buyback program scheduled to commence on Monday. It will run for one month, and the company is initially planning to acquire up to 4.9 million shares.
Further, the Trump administration’s order to boost critical minerals production in the U.S. sent the Snow Lake stock soaring – the uranium miner’s shares are up more than 80% in the past five trading sessions.
The stock is down nearly 29% year-to-date (YTD).
Northern Dynasty Minerals Ltd. (608% Jump In Message Volume)
Northern Dynasty Minerals, a Vancouver, Canada-based mining company, posted an update about its 100%-owned U.S. subsidiary Pebble Ltd.
Last month, the company said Pebble consented to the Environmental Protection Agency and the U.S. Army Corps of Engineers to hold the ongoing litigation in abeyance for 90 days.
The litigation refers to EPA vetoing mining activity in Alaska. Northern Dynasty said this region holds the world’s largest undeveloped copper deposit.
The stock is up nearly 54% YTD.
Silvercorp Metals Inc. (200% Jump In Message Volume)
Silvercorp Metals committed to participate in a share placement plan for Celsius Resources Ltd., as the latter looks to raise funds to meet its operational and corporate actions.
Silvercorp is a significant shareholder of Celsius and it will scoop up shares worth AU$280,000 in this process.
The stock is up over 33% YTD.
Piedmont Lithium Inc. (200% Jump In Message Volume)
Despite the Trump administration’s order to ramp up the production of critical miners in the U.S., analysts at Roth MKM highlighted that weak lithium market conditions continue to exert pressure on companies in this sector, according to The Fly.
Weak demand for electric vehicles has contributed to an imbalance in demand and supply, resulting in weak prices across the board.
The stock is down nearly 19% YTD.
Gold Resource Corp. (100% Jump In Message Volume)
Climbing gold prices continued to put a shine on Gold Resource’s stock, which rallied more than 8% in the past five trading sessions.
Earlier this month, the company announced an 18% reduction in costs at its Don David Gold Mine. The gold miner also expressed optimism about rising bullion prices on its top line.
The company’s stock has more than doubled YTD, gaining over 135%.
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