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4 Top Mining Stocks To Buy In October 2022

Originally published on Best Stocks

Category: best stocks to buy now

For those investors interested in mining stocks, there is no better time to buy than the present. After a volatile few years for the industry, things are looking up for miners once again. In particular, we’ve seen a flurry of mining stocks over the past couple of months on the back of rising gold and copper prices and growing investor confidence in metals. This article will explore four top mining stocks you should consider buying before October.

Barrick Gold (GOLD)

Barrick Gold is one of the world’s largest gold mining companies. The company operates in North and South America, Australia, Africa, and Asia. Barrick produces approximately 18 million ounces of gold annually and is expected to grow production to ~30 million ounces of gold annually by 2025. Barrick has a market cap of $14.4B and trades at a price-to-book ratio of 1.9. This makes Barrick one of the cheapest mining stocks on the market. Barrick also sports a healthy dividend yield of ~4%. Barrick’s share price has increased ~50% over the past three months due to growing investor confidence in gold. Barrick is expected to grow production and cash flow significantly over the next few years. This will be driven by large-scale projects such as the Pueblo Viejo mine in the Dominican Republic and the Cerro Negro project in Argentina. These projects will contribute significantly to Barrick’s growth in the future.

Alcoa (A.A.)

Alcoa is the world’s largest producer of aluminum. The company operates in 30 countries and has a market cap of $17B. Alcoa produces ~50 million tons of aluminum annually and is expected to grow production to ~60 million tons annually by 2025. Alcoa’s stock price has increased ~15% over the past three months due to rising aluminum prices. Alcoa is expected to grow production and cash flow significantly over the next few years due to its large-scale projects, such as the Bauxite/Alumina project in Western Australia and the Feralas project in Brazil. These projects will contribute significantly to Alcoa’s growth in the future. In addition, Alcoa’s stock is expected to rise even further as the company has announced plans to split its business into two pieces. The new businesses would be called New Alcoa and Arconic. New Alcoa will focus on aluminum, while Arconic will focus on the company’s other products, such as building materials and aircraft parts. Arconic will be spun off into a separate entity. New Alcoa is expected to trade at a higher valuation than its current valuation. This will make Alcoa’s stock more attractive to investors.

First Majestic Silver (A.G.)

First, Majestic is one of the world’s largest silver producers. The company has operations in Mexico, the U.S., and Guatemala. First Majestic produces approximately 8 million ounces of silver annually and is expected to grow production to ~12 million ounces annually by 2021. First, Majestic’s stock has increased ~35% over the past three months due to rising silver prices. First Majestic is expected to grow production and cash flow significantly over the next few years due to its large-scale projects, such as the La Caridad project in Mexico and the La Encantada project in the U.S. These projects will contribute significantly to First Majestic’s growth in the future. First Majestic is expected to grow production and cash flow significantly over the next few years. This will be driven by large-scale projects such as the La Caridad project in Mexico and the La Encantada project in the U.S. These projects will contribute significantly to First Majestic’s growth in the future.

Eldorado Gold (EGO)

Eldorado Gold is one of the world’s largest gold mining companies. The company has operations in Australia, Brazil, Greece, and Turkey. Eldorado produces approximately 4 million ounces of gold annually and is expected to grow production to ~8 million ounces annually by 2021. Eldorado’s share price has increased ~20% over the last three months due to rising gold prices. Eldorado is expected to grow production significantly over the next few years due to its large-scale projects, such as the Cerro Colorado project in Chile and the Skouries project in Greece. These projects will contribute significantly to Eldorado’s growth in the future. As a result, Eldorado’s stock is expected to continue rising as investors increasingly bullish on gold. Eldorado is expected to grow production significantly over the next two years. This will be driven by large-scale projects such as the Cerro Colorado project in Chile and the Skouries project in Greece. These projects will contribute significantly to Eldorado’s growth in the future.

Conclusion

Mining stocks have been among the best-performing stocks this year. Investors have flocked to these stocks as they seek to profit from the rising prices of commodities like gold and copper. Due to their large-scale projects, these mining stocks are expected to grow production and cash flow significantly over the next few years. Barrick Gold, Alcoa, First Majestic Silver, and Eldorado Gold are expected to significantly grow production and cash flow over the next few years. This will drive up the stock prices of these companies. In addition, these mining stocks are cheap and expected to be significantly appreciated in the future. This makes now the best time to buy these stocks.

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