Top 7 Mining Stocks to Buy Right Now
[ad_1] The post Top 7 Mining Stocks to Buy Right Now appeared first on Millennial Money. These companies are leading the way in the mining sector and could make great long-term bets. Mining stocks are a popular avenue for investors to build out their portfolios because there’s nearly always demand for some type of mined material. Think about it: nearly every product you can buy has some sort of material that needs to be extracted from underground. And that’s where mining companies come in. Companies in the mining sector extract everything from precious metals (like gold) to energy products (oil and natural gas). As you can imagine, finding hidden materials beneath the earth isn’t exactly easy, and it involves a significant amount of exploration and processing of the material before you get a final product. This level of difficulty means that mining companies often spend lots of money finding new claims and setting up operations. But the long-term potential for them can be well worth the cost. The estimated global mining market size is about $1.85 trillion in 2021 and will grow into a $2.4 trillion market just a few years from now! Yeah, that’s right: trillion. Instead of digging around to try to find the best mining stocks yourself, take a look at this list for some of the top mining companies in which you can invest! Best Mining Stocks to Buy Barrick Gold Franco-Nevada Corp. BHP Group Ltd. Albemarle Corporation Rio Tinto Group Wheaton Precious Metals Corp. Freeport-McMoRan Inc. Barrick Gold (NYSE: GOLD) Barrick Gold Corporation (NYSE:GOLD)Price: $0 (as of close Jul 22, 2021) document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-0c5bfb76982ff170673e944986dcc474”,{rangeSelector:{selected:1},title:{text:”Barrick Gold Corporation (NYSE:GOLD)Closing Stock Price”},subtitle: {text: “30-Day Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false },series:[{name:”NYSE:GOLD”,data:[[1624334400000,21.08],[1624420800000,20.96],[1624507200000,20.97],[1624593600000,20.89],[1624852800000,20.7],[1624939200000,20.53],[1625025600000,20.68],[1625112000000,20.58],[1625198400000,20.79],[1625544000000,21.29],[1625630400000,21.19],[1625716800000,20.72],[1625803200000,21.13],[1626062400000,20.83],[1626148800000,21.14],[1626235200000,21.33],[1626321600000,21.27],[1626408000000,20.86],[1626667200000,20.54],[1626753600000,20.72],[1626840000000,20.9],[1626926400000,20.74],],tooltip:{valueDecimals:2,xDateFormat: “%A, %B %e, %Y”}}]}); }); If shiny objects catch your attention, then let me introduce you to Barrick Gold. The company operates one of the largest gold (and copper!) operations in the world and is a relatively safe way for investors to get into the mining industry. With a market cap of $37.4 billion and more than $5.6 billion in cash, Barrick Gold is a large company that can weather difficult economic times. The company earned $2.3 billion in net earnings and $3.4 billion of free cash flow in 2020. The company has wisely paid down its debt over the past few years and says it won’t have any significant debt payments until 2033 (I bet they used Dave Ramsey’s debt snowball method). For investors looking for a massive player in the mining space with a solid balance sheet, Barrick Gold is a strong contender. While the coronavirus pandemic hurt the mining industry, Barrick and other mining stocks could rebound as economies around the world open back up. Franco-Nevada Corp. (NYSE: FNV) Franco-Nevada (NYSE:FNV)Price: $0 (as of close Jul 22, 2021) document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-7c333f2cc607a9fff3e51717a1613738”,{rangeSelector:{selected:1},title:{text:”Franco-Nevada (NYSE:FNV)Closing Stock Price”},subtitle: {text: “30-Day Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false },series:[{name:”NYSE:FNV”,data:[[1624334400000,148.45],[1624420800000,146.21],[1624507200000,145.27],[1624593600000,145.23],[1624852800000,144.45],[1624939200000,144.7],[1625025600000,145.07],[1625112000000,145.34],[1625198400000,147.74],[1625544000000,148.45],[1625630400000,150.57],[1625716800000,144.94],[1625803200000,147.29],[1626062400000,147.83],[1626148800000,149.91],[1626235200000,149.97],[1626321600000,153.39],[1626408000000,150.46],[1626667200000,147.68],[1626753600000,149.02],[1626840000000,149.9],[1626926400000,149.76],],tooltip:{valueDecimals:2,xDateFormat: “%A, %B %e, %Y”}}]}); }); Franco-Nevada is a very different type of mining company, probably because the company isn’t exactly a mining company. Franco-Nevada instead falls into what’s known as the streaming and royalties category. Instead of mining, the company pays a fee to mining companies for the right to a certain percentage of the mine’s sales, or for the chance to buy future production at a lower price. The company has agreements with gold mining companies in more than 50 locations around the world—including in Canada, Brazil, Chile, and the United States—and as the price of gold has skyrocketed over the past few years, the company has benefited. Even as many mines were closed in 2020 because of the pandemic, Franco-Nevada benefited as gold prices surged, reporting record sales of $1 billion for the year. With no debt and a lucrative streaming business, Franco-Nevada is a smart choice for investors. The company’s share price reflects its leading position, with its stock nearly doubling the S&P 500’s gains over the past three years. BHP Group Ltd. (NYSE: BHP) BHP Group Ltd. (NYSE:BHP)Price: $0 (as of close Jul 22, 2021) document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-ca14f5838026cebb542dd795a17bc075”,{rangeSelector:{selected:1},title:{text:”BHP Group Ltd. (NYSE:BHP)Closing Stock Price”},subtitle: {text: “30-Day Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false },series:[{name:”NYSE:BHP”,data:[[1624334400000,71.28],[1624420800000,71.62],[1624507200000,72.79],[1624593600000,73.23],[1624852800000,72.81],[1624939200000,72.82],[1625025600000,72.83],[1625112000000,72.41],[1625198400000,72.96],[1625544000000,72.28],[1625630400000,74.03],[1625716800000,73.5],[1625803200000,76.48],[1626062400000,76.51],[1626148800000,76.18],[1626235200000,76.06],[1626321600000,76.35],[1626408000000,74.38],[1626667200000,72.34],[1626753600000,73.83],[1626840000000,75.74],[1626926400000,75.63],],tooltip:{valueDecimals:2,xDateFormat: “%A, %B %e, %Y”}}]}); }); BHP Group is a massive company that makes most of its money from mining iron ore and copper but also has mining operations for coal, oil, gas, and more. Some recent rumors have surfaced that the company may exit its oil and gas operations to focus more on its other assets. The company is known for its low-cost mining thanks to the help of advanced technology that BHP implements into its operations. That’s helped the company not only maintain a strong balance sheet, but also bring in lucrative margins as well. The company is currently on a multi-year plan to continue reducing its debt and also focusing on returning value to shareholders through share buybacks and dividend payments. With BHP Group’s focus on building shareholder value, this mining stock should be a strong consideration for investors. Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. 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