Why Shares of Northern Dynasty Minerals, PolyMet Mining, and The Metals Company Are Skyrocketing Today
After the downturn in the markets yesterday and as energy prices continue to rise today, conservative investors are looking to fortify their portfolios by adding metals exposure to their holdings. The price of gold, for example, crossed the $2,000-per-ounce mark today for the first time since August 2020, while other precious metals like silver, platinum, and palladium are also rising today. It's no wonder, therefore, that Northern Dynasty Minerals (NYSEMKT: NAK), PolyMet Mining (NYSEMKT: PLM), and TMC the metals company (NASDAQ: TMC) are all looking a lot more lustrous in investors' eyes today. The allure of these stocks, however, also extends to growth investors, since all three companies are in the pre-revenue phase of their development, as well as to those investors who are looking for companies that operate in the U.S.
As of 10:43 a.m. ET, shares of Northern Dynasty Minerals, PolyMet Mining, and TMC have risen 24.2%, 24.1%, and 42.4%, respectively.
With gold bounding higher today, it's little surprise that Northern Dynasty Minerals is finding itself the desire of gold-hungry investors. The company proclaims that its lone asset, the Pebble Project, contains "one of the greatest stores of mineral wealth ever discovered, and the world's largest undeveloped copper and gold resource." How much of the yellow stuff are we talking about here? According to the company, the Pebble deposit, located in Alaska, has measured and indicated resources of 71 million gold ounces. In addition, the deposit is rich in copper: 57 billion pounds of measured and indicated resources.
Source Fool.com
