Which Silver Stocks Are Showing High Performance?
Throughout 2020 there has been many great silver stocks to watch. Why is this you may ask? Well, obviously the pandemic and falling economy has had a good effect on the price of silver. The issue is that vaccine news was recently released that hurt the price of silver. This is because a vaccine could lead to economic hope and recovery in the market. The industrial sector also uses silver, so when industrial companies are increasing production it causes silver prices to rise. Recently, multiple news sources reported that president elect Joe Biden has a bi-partisan pandemic financial aid package that could be right under $1 trillion. More stimulus will result in a worse economy, which will help all mining stocks. This bill could be passed in the very near future after Biden takes office.
Pandemic numbers are on the rise and no vaccine candidates have released anything yet. But early vaccines could start as early as next week for frontline health workers and old people in the United Kingdom. Presidents Bush, Obama, and Clinton have also agreed to take the vaccine in public to encourage the public to use it once released. Once this momentum starts taking place, likely next year, it will hurt the price of mining stocks. So which silver stocks are performing well in 2020? Let’s take a look at four silver stocks that have been able to see high performance this year.
Top Silver Stocks To Buy Or Sell: First Majestic Silver Corp.
The first company on this list of silver stocks is First Majestic Silver Corp. (AG Stock Report). First Majestic acquires, explores for, develops, and produces product at mineral properties. Its main product that it searches for is silver deposits. It owns various mines like the La Encantada mines, San Dimas, and Santa Elena in Canada and Mexico. AG stock has seen positive performance this year so let’s see what its recent advancements look like.
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First Majestic Silver released its second quarter results back in November. It reported revenue of $125.9 million which was a 30% increase year over year. First Majestic sold a lot of stockpiled inventory left from the previous quarter which contributed to this. Its total mine operating earnings went up 73% with rising metal prices. AG stock price has been able to increase significantly throughout 2020. If silver prices can rise up more, it will be positive for First Majestic’s next upcoming quarterly results. Its revenue, cash flow, and earnings were all new company records in the quarter, so it is clear the company is seeing benefit in 2020.
Top Silver Stocks To Buy Or Sell: Coeur Mining Inc.
The next mining stock to buy or sell is Coeur Mining Inc. (CDE Stock Report). Coeur Mining is a corporation that explores, develops, and produces for various mineral resources. Some of the resources that the company searches for are silver, gold, zinc, and lead properties. It holds 100% interest in the Palmarejo mine, Rochester mine, Kensington mine, Wharf gold mine, among many others. The company markets these metals to third party refiners and smelters in various locations. Coeur’s products are sent to the United States, Japan, and Switzerland. The properties Coeur holds are located in Mexico, Alaska, Nevada, South Dakota, and Canada.
Coeur’s most recent update also comes in the form of third quarter financial results. It recorded its highest ever quarterly financial results in the last 10 years. First up, its revenue increased by 49% year over year to a total $229.7 million. The company’s EBITDA went up more than double to $90.8 million in the third quarter. Coeur stated that production increased, it started its projects back up after closures, among other great announcements. CDE stock price is at $8 a share on average as of December 4th, 2020. Coeur will host its 2020 investor day on December 17th.
Top Silver Stocks To Buy Or Sell: Silvercorp Metals Inc.
Now let’s talk about Silvercorp Metals Inc. (SVM Stock Report). Silvercorp Metals is a mining company that will acquire, explore, develop, and mine for mineral properties. The China based company mainly looks for silver, gold, lead, and zinc. It actively has interest in the Ying silver lead zinc project and the GC silver lead zinc mine. It recently announced multiple company updates so let’s take a look at what those look like.
Silvercorp released its second quarter financial results for fiscal 2021 on November 5th 2020. Its revenue grew 13% year over year to $56.4 million. This increase of $6.5 million was great for this silver stock. The company’s total mined tons of ore went up 3% year over year to 267,853 tons. Its silver, gold, lead, and zinc sales went up 100%. The company recently filed the shelf prospectus and corresponding registration statement. Its plan is to give the company more financial flexibility in the future, but it is not currently offering any securities. On November 30th it filed the final base shelf prospectus.
Top Silver Stocks To Buy Or Sell: MAG Silver Corp
The final company on this list of silver stocks is MAG Silver Corp. (MAG Stock Report). MAG Silver Corp is a mining corporation that acquires land, explores, and develops mineral properties. Its main goals are finding silver, gold, lead, and zinc deposits. MAG is actively holding a 44% binterest in the Juanicipio project in Mexico. This project is a 56% / 44% joint venture with Fresnillo plc. Let’s look at MAG Silver’s recent advancements.
The company announced its first production from Juanicipio recently. This production was 610 gold ounces and large amounts of lead and zinc too. It was processed by the Fresnillo processing plant nearby. The company also reported financial results on November 13th 2020. It announced here that it has had positive advancements at all of its projects. Its working capital of $137,814 included cash and cash equivalents and no long term debt. MAG stock price has increased since the start of 2020.
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