Mining Stocks: The Hidden Gem of Canada’s Investment Portfolio in 2024

Last updated: 2025/01/26 at 11:37 PM

Irfan Ameer

7 Min Read

Do you have any investment ideas for 2024? Probably, the words ads, the words bitcoin and the words real estate are synonyms. But what if I told you there’s another option that is quite often left aside? Mining stocks.

Contents

Why Mining Stocks Can Be Worth The Investment In 2024 Which Mining Stocks Should You Keep An Eye On?What Makes Mining Stocks Stand Out?1. Tangible Assets 2. Hedge Against Inflation 3. Global Demand Should You Invest in Mining Stocks in 2024?

Yes, mining stocks could be the answer to ‘where to invest in Canada’ this year. This is because, while some other sectors are experiencing contractions and boom periods, mining in Canada has an upward trajectory. With more minerals being consumed globally, 2024 would probably be the best year to get into mining stocks.

Natural resources abound in Canada. The same thing goes the other way disappeared – mining is not only about taking a shovel out. Take a look at people who use copper, say, nickel, “fingers,” “lithium” and other rare earth elements.

Why Mining Stocks Can Be Worth The Investment In 2024

Canada’s mining industry is acknowledged to be one of the leading in the world. So why should you care about it now? This is because there is a great turning point. Factors such as nuclear energy are increasing the appetite for some minerals.

For instance, electric vehicles, solar panels, and even windmills need metals such as lithium, cobalt, copper, and so forth. Canada is a leader in bulldog metal production, which gives Canadian mining companies a great opportunity to expand.

Consider the current picture of global tensions. In conditions of uncertainty, and countries seeking to protect their own resources, Canada understandably appears as a stable and trustworthy supplier.

Which Mining Stocks Should You Keep An Eye On?

Moving onto the final section, let’s focus on some of the best Canadian mining stocks to consider in 2024. These companies are positioned well with their fundamentals and have growth prospects.

First Quantum Minerals (FM.TO)

First Quantum Minerals is a Canadian Company and is among the largest producers of copper in that country. Copper is needed for electric vehicles, renewable energy, and in construction. The company too has mining stakes in a number of countries and is increasing its output. As there is an increase in patient for copper it seems the First Quantum has a potential to rise.

Teck Resources (TECK.B.TO)

Teck Resources is also one of the big fathers in the mining industry in Canada. This company elaborates resources production of copper, zinc, and steel coal among others. Teck knows that there will be more demand for copper in the future, hence the company is ramping up its copper production. Besides, they’re actively trying to enhance their eco-friendly strategies, which is why they’re appropriate for ethical investors.

Lundin Mining (LUN.TO)

Lundin Mining is a mid-sized mining company with operations all over the world. They produce copper, nickel, and zinc—metals that are critical for green tech. Lundin has been expanding and acquiring new assets to boost production. As demand for these materials grows, Lundin Mining could be a stock to watch.

What Makes Mining Stocks Stand Out?

You might be wondering why mining stocks are worth considering over something like tech or real estate. The answer is that mining offers a different kind of investment. When you invest in mining stocks, you’re investing in the raw materials that power modern life. Here’s why they stand out:

1. Tangible Assets

Mining stocks give you exposure to real, tangible assets. Unlike tech stocks, where you’re investing in services or software, mining companies produce physical materials. These materials are in demand globally, whether it’s copper for wiring or lithium for electric vehicle batteries.

2. Hedge Against Inflation

Another big benefit of these stocks is that they can protect you against inflation. When prices rise, the value of raw materials usually goes up too. This can make mining companies more profitable, even during times of economic uncertainty. In a time when inflation is a concern, mining stocks could provide some stability.

3. Global Demand

Demand for minerals like copper, nickel, and lithium is not going away anytime soon. As more countries invest in clean energy and electric vehicles, the need for these metals will only grow. Canada, with its rich resources, is in a great position to meet this demand. That makes mining stocks an attractive option for investors who want to tap into a global trend.

Should You Invest in Mining Stocks in 2024?

So, are these stocks the hidden gem in Canada’s investment portfolio for 2024? They just might be. With global demand for minerals rising and Canada’s strong position in the market, mining stocks could offer great growth potential. However, it’s important to remember the risks, like volatile commodity prices and environmental concerns.

If you’re looking for a way to invest in the materials that power modern technology and green energy, mining stocks are worth considering. But as always, it’s a good idea to talk to a financial advisor before making any big investment decisions. They can help you figure out if mining stocks are a good fit for your portfolio and guide you toward the best options for your financial goals.

Thinking about investing in mining stocks? Don’t miss out on Canada’s hidden gems—take a closer look at the mining sector and see if it’s right for you in 2024.