Silver Stocks Are Pulling Ahead Amid Rising Metal Prices
The price of silver stocks has been increasing drastically in the last year. The pandemic initially brought the price of metals down, until the economy fell and these metal assets became big gainers. Silver stocks in particular started doing even better when industrial companies began operations again after COVID related closures. Now 2021 has arrived and there is a variety of factors that are impacting the price of silver stocks. The recent government stimulus bill worth $900 billion hurt the price of the dollar which has adversely brought the price of gold and silver up. Silver prices are now at around $27 as of January 5th.
So what is the future of silver stocks? Well, this will be dictated by what happens in the news in the coming weeks and months. It seems that at this volatile spot in the market silver stocks can really move either way. There is still a lot of potential for silver stocks despite the volatility. It is important to look at news in the world, sector news, volume, and more when looking to invest. Blind investing can result in your portfolio going down in value. While sometimes people get lucky, it is best to do research. There are plenty of great silver stocks to watch in 2021. Let’s take a look at four of these that have been trending in the market so far this year.
Top Silver Stocks To Watch Throughout 2021: Endeavour Silver Corp
The first silver stock to watch is Endeavour Silver Corp. (EXK Stock Report). This is a mining business that acquires land, explores on it, and develops it. Endeavour similarly works on the processing, refining, and reclamation at its mineral properties. The properties in question are located in both Mexico and Chile. Endeavour’s primary focus is searching for gold and silver deposits. Now let’s look at the performance of EXK stock in 2021 so far.
EXK stock price is at $5.70 a share on average as of January 5th. Just a week ago, EXK stock price was at $5.05 per share. EXK stock has gone up significantly in the last year, with its current stock price actually being a new 5 year high for the company. Endeavour sold its El Cubo Mine in Guanajuato Mexico for $15 million just 18 days ago, so it is bringing in more money as well. Rising silver prices could potentially contribute to further growth for this silver stock.
Top Silver Stocks To Watch Throughout 2021: Hecla Mining Company
Next up is Hecla Mining Company (HL Stock Report). This is a mining business that discovers, acquires, and develops mineral properties all over North America. Included in this, it produces precious metals like lead, zinc, silver, gold, and more. So how has Hecla been performing recently? Back in November the company posted positive quarterly results including a sales increase of 24% year over year. But what about now that it is 2021?[Read More] 2021 Has Arrived, How Are Mining Stocks Performing?
HL stock price rose 2.5% on the day of January 5th to $6.96 a share on average. On December 31st, HL stock was at $6.49 a share on average. So this increase for HL stock is significant for large shareholders of the company. This is largely attributed to its positive performance last year and the rise in price of precious metals at the moment. Hecla Mining has proven to be a great silver stock to watch in the last year. It will be great to see what Hecla has in store next for its investors. That is essentially why it has made it on this list of the top silver stocks to watch throughout 2021.
Top Silver Stocks To Watch Throughout 2021: Pan American Silver Corp.
Now let’s talk about Pan American Silver Corp. (PAAS Stock Report). Pan American is a mining company that explores for and develops mineral properties in Canada, Mexico, and other places too. Pan American processes, extracts, reclaims, and refine precious metals. Its searched for metals are silver, gold, zinc, lead, and copper. In its most recent quarterly results, Pan American announced that it massively lowered its operating costs. So let’s see how it is performing in 2021 so far.
Pan American Silver is up 2.33% on the day of January 5th. Currently PAAS stock price is at $38 a share as of the 5th as well. This places this silver stock just about at its 5 year high point. It is no surprise that this company has made it on to this list because of this. Currently its stock price is being impacted by the rising silver prices in the market. So as things progress through 2021 we will see if PAAS stock is able to push even higher than its current 5 year highs in the market.
Top Silver Stocks To Watch Throughout 2021: Fortuna Silver Mines Inc.
The final company on this list Fortuna Silver Mines Inc. (FSM Stock Report). Fortuna Silver Mines is a mining company that will explore, extract, and process different precious metals. Currently, Fortuna looks for silver, gold, zinc, and lead deposits. Its main property is the Cayloma mine and San Jose mines. It additionally runs the Lindero Gold Project. Let’s have a look at Fortuna’s recent performance history as 2021 begins.
FSM stock price is at $9.54 a share as of January 5th 2021. This is up about 3.3% on the day of. FSM stock was recently at $8.22 a share at the end of 2020, so this is a significant price increase in the last week or so. Fortuna’s last update was provided about a month ago about a disputed royalty. Earnings season could potentially mean great things for the company, but only time will tell. FSM stock recent performance earns its spot on this list of silver stocks. Now we wait to see what the future of the company looks like. That is it for the top silver stocks to watch for now.
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