Are you looking to get into investing? If so, have you ever thought about investing in mining stocks? Sure, investing in sectors like cannabis might be a little bit more interesting, but at least we know that the mining industry in Canada is going to be around for a long time. In 2015, mining contributed $56 billion to Canada’s GDP. Cannabis, on the other hand, is still up for debate.
To get a feel for what a normal trading day entails for mining companies, let’s take a look at two Canadian mining stocks making waves today.
February 22: Trending Canadian Mining Stocks
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Goldgroup Mining (TSE:GGA)
Founded in 1989, and trading on the Toronto Stock Exchange, Goldgroup Mining is currently up nearly 20%.
The company focuses primarily on, as one might have guessed, the production, development, and exploration of gold. More specifically, Goldgroup Mining focuses on developing and exploring advanced stage gold-bearing mineral properties.
As of this writing, Goldgroup Mining is trading at $0.070, which puts the GGA stock up $0.010, or 16.67%. The company has received 12 stock trades thus far.
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Avalon Advanced Materials (TSE:AVL)
Avalon might not be doing as well today as Goldgroup Mining, but I think an increase of nearly 10% is still pretty substantial.
Based in Toronto, Avalon Advanced Materials focuses primarily on rare metals and minerals. Currently, it owns six different rare metals and mineral projects in the country. The company had a pretty successful month in January, from closing a 1.5 million preferred share financing to announcing the start of its winter drilling program on the Separation Rapids Lithium project.
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It appears the company’s success in January has rolled into this month. As of this writing, Avalon Advanced Materials is trading at $0.13, putting the stock up $0.01, or 8.33%. So far, the company has received 52 stock trades today, surpassing the number Goldgroup Mining obtained.
The Takeaway
The mining stock market in Canada is not immune to volatility. However, it’s a market that contributes a lot to the country, so I think there are a number of benefits to keeping an eye on various companies and their stock price. It doesn’t mean that you have to invest in them, but it’s worthwhile knowing the direction Canadian mining stocks are heading in.
Featured Image: Depositphotos/© TTstudio
