Precious Metals

4 Top Platinum Stocks Up Over 130 Percent Year-to-Date

Precious Metals

Like other metals, platinum’s start to the year was a little grim, entering 2016 at $890 an ounce. However, it’s picked up significantly since then, increasing $226.00 overall to $1,082 as of July 6 at 3:09 p.m. EST.

Like other metals, platinum’s start to the year was a little grim, entering 2016 at $890 an ounce. However, it’s picked up significantly since then, increasing $226.00 overall to $1,082 as of July 6 at 3:09 p.m. EST. 
FocusEconomics states in its June 2016 report that platinum prices have been rising throughout the year due to a weaker US dollar and expectations of a supply deficit. The company writes that China is the principal market for platinum jewelry, but reports are suggesting that Chinese demand for platinum will slow in 2016, sending prices back down.
However, that doesn’t mean all hope is lost for platinum. FocusEconomics also writes that prices are expected to stay relatively stable before picking up significantly more in 2017. Analysts surveyed see prices gradually rising to $1,125 an ounce by the fourth quarter in 2017.
That being said, a number of platinum mining companies have seen their stocks rise this year. Here’s a look at some of the top platinum stocks up over 130 percent at the halfway mark of the year, with a market capitalization minimum of $10 million.

Atlatsa Resource (TSX:ATL)

First on the list is Atlatsa Resource, whose shares have risen 266.67 percent year-to-date to $0.11. Atlatsa Resources has one of the world’s largest platinum bases in South Africa. In May, the company announced its results for the quarter ending March 31, 2016. For the first three months of the year, 36,609 ounces of platinum were produced at its Bokoni mine, which is a 14.6 percent decrease for the same period of 2015.

Wellgreen Platinum (TSX:WG)

Wellgreen Platinum is currently focused on its 100 percent owned platinum group metal and nickel project in the Yukon. The most recent news from Wellgreen came on June 29, when the company announced the participation of Resource Capital Fund VI L.P. in a private placement of common shares at $0.30 per share.
Year-to-date, Wellgreen’s shares have risen by 138.1 percent, which is a $0.29 increase, to $0.50.

Platinum Group Metals (TSX:PTM)

Although Platinum Group Metals’ shares have dropped 9 percent over the past year, they have rallied so far in 2016. Year-to-date, the company’s shares have risen 133.33 percent overall to $4.55.
Platinum Group Metals is currently focused on the production of not only platinum, but palladium as well.  The company’s projects are located in the Bushveld Complex in South Africa, which hosts 70 percent of the world’s platinum production.
In May, Platinum Group Metals announced  more high grade thick platinum and palladium for recent drill intercepts, as well as gold results, on its Waterberg Project.

Wallbridge Mining (TSX:WM)

Rounding out the list is Wallbridge Mining, who is continuing exploration on its nickel, copper and platinum projects in Sudbury, Ontario. Year-to-date, Wallbridge’s shares have increased 180 percent to $0.70.
The company announced further drill results from its Parkin Properties in May, including an intercept of 10.3 meters including 0.85 percent nickel, 1.61 percent copper, 0.61 grams per tonne of platinum, 0.55 grams per tonne of palladium and 0.09 grams per tonne of gold.

 Other stocks increasing

It’s not just Atlatsa, Wellgreen, Wallbridge and Platinum Group Metals on the rise; a number of other platinum mining companies have been on the rise this year as well.

  • Eastern Platinum (TSX:ELR): Year-to-date, Eastern Platinum’s shares have risen 36.8 percent to $0.78;
  • Stillwater Mining (NYSE:SWC): Stillwater is the only US producer of palladium and platinum. Year-to-date, the company’s shares have risen 43.52 percent to $12.26.
  • Impala Platinum Holding (JSE:IMP):  Impala Platinum’s shares have risen 109.27 percent year-to-date, to $5,215;

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Wallbridge Mining is a client of the Investing News Network. This is not paid for content.
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