Top Penny Stocks To Watch As Nickel, Gold, & Mining Stocks Soar
The Russia-Ukraine conflict has sent a surge of uncertainty across all markets this month with several industries in the crosshairs of investors. Oil and energy stocks have reigned supreme amid new sanctions on Russian oil. Meanwhile, grain prices have skyrocketed, bringing attention to things like wheat and fertilizer.
Recently, metals prices have also shot up significantly with prices for things like nickel and precious metals exploding this week. Nickel, alone has sent shockwaves across the market as some called it the Mother Of All Short Squeezes (MOASS).
In general, mining stocks have come into focus for traders and based on current trends, that is for a good reason. Just look at small-cap mining stocks like Hycroft Mining Holding Corp. (NASDAQ: HYMC), a gold an silver mining company. The owner of the Hycroft Mine in Nevada recently reported its 2021 operating results, revealing strong production figures for the year that seem to have attracted the attention of retail traders just about a week later. As an inflationary hedge, precious metals have been looked at as safe havens during times of turbulence. Given the recent sanctions, however, it’s more than just safe haven metals gaining appeal from investors.
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