Which Silver Stocks Are Ahead On Rising Prices?
The sector for mining stocks has had its share of ups and downs in 2020. Overall, the market for gold and silver is much higher than it was at the start of the year. One of the largest contributors to this is the pandemic and resulting state of the economy. When the economy is worse off, the price of gold and silver will go up. But now we are in a state where large pharmaceutical companies have announced COVID-19 vaccines that are 95% effective.
On December 3rd, Obama, Bush, and Clinton all volunteered to publicly get the vaccine at a later date. So if this would negatively affect gold and silver prices, then why is the price increasing? President-elect Joe Biden has announced a bi-partisan pandemic financial aid package for Americans. This would total right under $1 trillion. When there is more stimulus, it worsens the economy and makes precious metal prices rise. Some gold and silver traders believe that a stimulus bill could be passed by U.S. Congress in the near future. Pandemic infection numbers are still rising dramatically at the moment. So the economy won’t even have a chance to be resolved until the pandemic is. At the moment, there are many great silver stocks to watch as the dollar falls. So let’s have a look at four of these silver stocks that have been high performance upon stimulus news.
Top Silver Stocks To Watch: Fortuna Silver Mines Inc.
The first company on this list is Fortuna Silver Mines Inc. (FSM Stock Report). Fortuna is a mining corporation that explores, extracts, and processes different precious metals. It actively searches for silver, gold, zinc, and lead deposits. Its main property is the Caylloma and San Jose mines. It also runs the Lindero Gold Project. So now let’s look at what the company has been up to recently.
On December 1st the company provided an update on the disputed royalty at the San Jose mine. It announced that its legal position on the matter and will continue to defend its position in the suit. Fortuna also announced its third quarter results for 2020 recently, in which its sales rose $20 million year over year. Its net income was $13.1 million when the previous year it had a net loss of $7.7 million. As a result, the company’s EBITDA, net income, and free cash flow increased too. Its total silver and gold production rose as well to 2,127,746 ounces and 12,791 ounces. This silver stock to watch has increased in price successfully throughout 2020.
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Top Silver Stocks To Watch: Wheaton Precious Metals Corp.
The next silver stock to watch is Wheaton Precious Metals Corp (WPM Stock Report). Wheaton is a mining company that will sell silver, gold, and palladium ores. It actively operates and sells its product in Canada and internationally. The company has 20 operating mine agreements, and 9 developmental stage project agreements. Now let’s look at what this silver stock has been doing performance wise.
On November 9th the company released financial results for the first 9 months of 2020. Wheaton reported record revenue, sales volume, and operating cash flow numbers. Its operating cash flow went up 60% year over year in the quarter to a total $228 million. In the quarter, its revenue grew 37.4% to $307,268 as well. This has resulted in upticks for WPM stock. In July WPM stock price reached all time highs. As of December 3rd, WPM stock is at $40.60 a share on average.
Top Silver Stocks To Watch: Pan American Silver Corp.
Now let’s discuss Pan American Silver Corp. (PAAS Stock Report). Pan American Silver is a mining corporation that will explore, develop, process, extract, reclaim, and refine precious metals. It sells silver, gold, zinc, lead, and copper from its mines. Pan American Silver’s mines are located in Canada, Mexico, Peru, Argentina, and Bolivia. Its many mines contribute to the company’s growing mine earnings. Now let’s see what Pan American Silver has been doing in regards to progression recently.
On November 4th in the peak of earnings season, the company released its third quarter financial results. Pan American Silver achieved much lower operating costs in the quarter. As a result of higher metal prices, its mine earnings grew to $124.6 million. Most of its operations are up and running after shutdowns caused by the global pandemic. Now the company has been able to see recovery in a positive direction. As a result, PAAS stock price has gone up more than 36% throughout 2020. That is why Pan American Silver could potentially make your list of silver stocks.
Top Silver Stocks To Watch: Great Panther Mining Limited
The final silver stock to watch is Great Panther Mining Limited (GPL Stock Report). Great Panther Mining is a mining company that will explore for silver, gold, lead, copper, and zinc ores. Its mines include the Tucano gold mine in Brazil, multiple properties in Mexico, and many others. The company had to suspend its operations at its Topia mine located in Mexico due to pandemic regulations just 17 days ago. Now let’s see what the company has announced even more recently.
On November 23rd Great Panther Mining announced mineral resources estimated from its Guanajuato Mine Complex (GMC). Its measured and indicated resources upticked by 17%. Its inferred resources additionally have doubled. GPL stock price has increased by more than 52% throughout 2020. As of November 3rd, GPL stock is at $0.83 a share on average. That is why Great Panther Mining has caught the attention of investors in the silver sector. There are plenty of silver stocks to choose from when prices are increasing or earnings are being reported. But it can be difficult to know which companies are the top mining stocks. That is why staying up to date with news in the sector is essential to beginners and full time investors. It will be interesting to see how silver stocks move in the coming weeks.
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