Top Silver Stocks To Buy Or Sell
There is plenty reason to keep your eye on silver stocks in 2020. There has been plenty of great silver stocks to watch because of the pandemic. The pandemic tanked the economy which was great for the price of both gold and silver, reaching near new heights in 2020. Silver is also performing well because the industrial sector reopening operations in many places. Since silver is used industrially this helps out with demand. Currently there is news in the cycle that is impacting the price of silver. First off would be the COVID vaccine which has begun distribution in the United States on December 13th. It was first given out in New York to healthcare workers. 2.9 million doses of the vaccine have been shipped to the US so far, with many more coming.
On December 15th the FDA announced it could approve another by Friday. A government stimulus bill that is in talks could also potentially impact the price of silver stocks. Even with a vaccine on the way pandemic infections just reached over 300,000 in the United States. So it is likely that this government stimulus bill valued at $908 billion could be passed as soon as Senators come to an agreement. Now we have discussed the things currently affecting silver stocks. So let’s look at four silver stocks that could make your watch list as we continue through December 2020.
Top Silver Stocks To Watch: MAG Silver Corp
The first silver stock on this list is MAG Silver Corp. (MAG Stock Report). MAG Silver Corp is a mining company that obtains land, explores, and progresses mineral properties. MAG’s key goals are finding silver, gold, lead, and zinc deposits. MAG is actively holding a 44% interest in the Juanicipio project in Mexico. This project is a 56% / 44% joint venture with Fresnillo plc. So now let’s see what this silver company has been up to in recent times in the market and in the news.
MAG Silver Corp stated that its first production from Juanicipio is ready to announce. This production was 610 gold ounces and large amounts of lead and zinc in addition to the gold. The mienrals were processed by the Fresnillo processing plant that is near the mines. MAG also reported financial results on the 13th of November. The company proclaimed here that it has had positive progressions at all of its ventures. Its working capital of $137,814 included cash and cash equivalents and no long term debt. For this reason, MAG stock price has been able to increase since 2020 started.
Top Silver Stocks To Watch: Fortuna Silver Mines
Next up is Fortuna Silver Mines Inc. (FSM Stock Report). Fortuna Silver Mines is a mining corporation that explores, extracts, and processes different precious metals. The company currently searches for silver, gold, zinc, and lead deposits. Fortuna’s main property is the Caylloma and San Jose mines. It also runs the Lindero Gold Project. The company has provided a lot of updates recently, so let’s see what it is up to and what is affecting FSM stock.
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The company provided a disputed royalty update on December 1st 2020. Fortuna stated that its legal position on the matter and will continue to defend its position in the suit and is looking positive. It also stated its third quarter results for the year, in which its sales rose $20 million from the previous year. Fortuna’s net income was put at $13.1 million higher than the net loss of more than $7 million the year before. Because of this, the company’s EBITDA, net income, and free cash flow increased in tandem. Its total silver and gold production increased to 2,127,746 ounces and 12,791 ounces. FSM stock has increased in price successfully throughout 2020 making it a great silver stock to watch.
Top Silver Stocks To Watch: Great Panther Mining Limited
The next silver stock to watch is Great Panther Mining Limited (GPL Stock Report). Great Panther Mining is a corporation that explores for silver, gold, lead, copper, and zinc ores at various mineral deposits. Great Panther’s mines comprise of the Tucano gold mine in Brazil, numerous properties in Mexico, among others. It recently 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 December 14th the company said its proven and probable resource estimates are at 629,000 gold ounces. Of these gold ounces, 299,000 are open pit reserves. Its measured and indicated mineral resources now total 953,000 gold ounces. At its Tucano open put, M&I resources are at 561,000 gold ounces. This is a 28% increase from September 2019. As a result of this announced update, GPL stock price is up 4.61% as of December 15th. That is why GPL stock has made it on to this list of the top silver stocks to watch.
Top Silver Stocks To Watch: First Majestic Silver Corp.
The final silver stock on this list is First Majestic Silver Corp. (AG Stock Report). This company will acquire, explore for, develop, and produce product at mineral properties. First Majestic’s 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.
First Majestic’s quarterly results from back in November looked very positive. The company’s revenue increased by 30% year over year. This was following the company selling much of its stockpiled inventory from the previous quarter. As a result, First Majestic’s total mine earnings rose 73% as well. Rising metal prices throughout the year helped with this greatly too. So it will be interesting to see what happens in the silver sector next. Silver is a resource that is impacted by a variety of things in the market. So stay up to date on sector news and company advancements if you want to make a good list of silver stocks.
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