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Mining Stocks To Follow Today - May 4th

IREN logo with Finance background
Image from MarketBeat Media, LLC.

Key Points

  • MarketBeat names IREN (IREN Limited), Caterpillar (CAT), and BitMine Immersion Technologies (BMNR) as the three mining stocks to watch today, based on the highest dollar trading volume among Mining stocks in recent days.
  • IREN and BMNR are bitcoin-mining plays—IREN operates bitcoin mining data centers and BitMine focuses on immersion-cooled bitcoin miners—while Caterpillar is a global manufacturer of construction and mining equipment.
  • Mining stocks provide exposure to commodity and production performance but are typically cyclical and carry higher operational, regulatory, and geopolitical risks compared with many other sectors.
  • Five stocks to consider instead of IREN.

IREN, Caterpillar, and BitMine Immersion Technologies are the three Mining stocks to watch today, according to MarketBeat's stock screener tool. Mining stocks are shares of companies that explore for, develop, and extract natural resources such as gold, silver, copper, iron ore, coal, and other minerals. Investors buy them to gain exposure to commodity prices and producers’ operational performance, but they tend to be cyclical and often carry higher operational, regulatory, and geopolitical risks than many other sectors. These companies had the highest dollar trading volume of any Mining stocks within the last several days.

IREN (IREN)

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

Read Our Latest Research Report on IREN

Caterpillar (CAT)

Caterpillar Inc. manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Read Our Latest Research Report on CAT

BitMine Immersion Technologies (BMNR)

BitMine Immersion Technologies Inc. focused on bitcoin mining using immersion technology. BitMine Immersion Technologies Inc. is based in ATLANTA, GA.

Read Our Latest Research Report on BMNR

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Should You Invest $1,000 in IREN Right Now?

Before you consider IREN, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IREN wasn't on the list.

While IREN currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

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