Three Commodity related stocks on the move this week.
There hasn't been much to be excited about in the commodity sector this week, but there has been three stocks breaking out in a nice way.
Altamira Gold - Market cap of $42 Million
A Brazillian Copper/Gold Explorer, they have one project “Cajueiro” with an existing resource already in place of 600k ounces of gold, and 2 other projects that are more green with alot of potential but drilling is needed. The stock has been an outlier in the precious metals sector, Lots of volume coming into the stock and the price has nearly doubled in just a couple weeks. It’s clear of the majority of resistance from the last year.
Los Andes Copper - Market cap of $424 Million
A Chilean Copper developer is on the move again after a lengthy consolidation. They already have a large resource of over 30 billion pounds of copper with lots of upside left with drilling. The project is surrounded by monster copper mines and other majors are going to be interested in the project. They are working through a feasibility study right now. The stock has a tight share structure, volume has been creeping up on the breakout, it’s above key resistance and isn’t far from all-time highs here.
Fireweed Metals - Market cap of $140 Million
The company is focused on their base metals project in the Yukon which is looking to be world class at this point. The Lundin’s and Teck Resources each own a significant stake in the stock, and a buyout at some point looks likely. They have the largest High Grade Tungsten Deposit in the world, they just announced a resource here which may explain recent price action. They are going to be drilling all summer, so lots of catalysts ahead.
Stock had been consolidating for quite some time, but with recent newsflow, volume has returned to the stock and a breakout has occurred above important levels. This stock is very undervalued based on the projects but base metals projects haven’t gotten much love recently.
Disclaimer
The views and opinions expressed on this website are for educational and informational purposes only, and should not be considered as investment advice. The author may hold positions in stocks mentioned on this website. The author of this website is not a licensed stockbroker or financial advisor. Nothing contained herein should be construed as a recommendation to buy, hold or sell any securities or financial products. Always seek the advice of a financial advisor and do your own independent research prior to making any trade or investment decisions.
We do not guarantee the accuracy or completeness of any information on this website. Such information is provided “as is” without warranty or condition of any kind, either express or implied. Past performance may not be indicative of future results. This website could include inaccuracies or typographical errors.
We are not liable or responsible for any damages incurred whatsoever from actions taken from information provided on this website, including financial losses. Since all readers who access any information on this website are doing so voluntarily, and of their own accord, any outcome of such access is understood to be their sole responsibility. In no event shall we be liable to any person for any decision made or action taken in reliance upon the information provided herein.