Top Silver Stocks To Watch
In 2020, silver stocks remarkably shot up in price. This was as a result of the pandemic causing the economy to crash. Often in dark economic times, traders will turn to precious metals rather than traditional blue chip stocks. But silver stocks have been sitting at about $25 per ounce for a few weeks now that 2021 has started. This was until the media reported that Reddit stock traders from WallStreetBets were boosting the price of silver stocks.
But Reddit users on this forum believe that this is false, so there is two sides to the story. This occurred right after the WallStreetBets community caused GameStop, AMC, BlackBerry, and other stocks to rise up in price in an attempt to beat short sellers. During this rally, silver touched around $30 per ounce and was at an average of $29 per ounce.
Since then, the price of silver has fallen back down along with the hype. While this is a downward trend from its recent peak, this is still higher than the $25 price point this metal was stuck at for a long time. But is the hype over for silver stocks after this has happened? Well, the hype is not necessarily over. There are still plenty of silver stocks that are increasing in share price at the moment. It is all about knowing the right silver stocks to watch. This often depends on volume, recent news, sector news, and world news. Now let’s take a look at four silver stocks that have experienced or are currently experiencing that upwards trend in share prices.
Top Silver Stocks To Watch
- Gatos Silver Inc. (NYSE: GATO)
- Pan American Silver Corp. (NASDAQ: PAAS)
- Alexco Resource Corp. (NYSE: AXU)
- Great Panther Mining Limited (NYSE: GPL)
Gatos Silver Inc.
The first company on this list of silver stocks to watch in February is Gatos Silver Inc. Gatos Silver is a mining corporation that will explore, develop, and produce precious metals. Its primary asset is silver ore, but it also looks for gold ore, zinc, and lead as well. Its main project is the Cerro Los Gatos mine in Chihuahua state, Mexico. Previously known as the Sunshine Silver Mining & Refining Corporation, this company has received some recent momentum. Let’s take a look at its recent performance now that we have entered 2021.
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The company is yet to release an update since December. So what does this mean for GATO stock price? Well, it is likely that GATO stock price is mostly being affected by the price of precious metals such as gold and silver themselves. GATO stock was one of the silver stocks that received a boost in stock price during the Reddit craze, although falling back down shortly after. Now we wait to see what the company has in store for earnings season, and when its next update will be released.
Pan American Silver Corp.
The next silver stock to watch is Pan American Silver Corp. Pan American Silver is a mining corporation primarily looking working on the exploration, development, extraction, processing, refining, and reclamation of silver mines. It operates these mines in Canada, Mexico, Peru, Argentina, and Bolivia. The company additionally sells and produces gold, zinc, lead, and copper. So how is Pan American Silver performing now that 2021 has arrived?
The company’s most recent update was on February 3rd. But this update was primarily just positional changes within the company. The founder of the company Ross Beaty will be retiring as Chair and Director at its annual general meeting on May 12th, 2021. Beaty stated, “Pan American Silver has never been in a better financial and operating condition, with many prospects for growth. I have full confidence in the Company’s leadership team and its employees to continue creating value for all stakeholders well into the future.” That is the most recent update that has been heard from Pan American Silver.
Alexco Resource Corp.
Second to last on this silver stock list is Alexco Resource Corp. Alexco Resources will explore for minerals and develop mines and operational activities. The company’s operations are in the Yukon Territory, Canada. Alexco actively looks for silver, lead, zinc, and gold deposits. It holds interest in the Keno Hill Silver District project that has many deposits within, such as 725 quartz leases, 873 quartz claims, 24 mining claims, and more. Let’s now see how this mining stock and Alexco are performing in 2021 so far.
On January 21st, Alexco announced a $10.5 million bought deal via flow through share public offering. The company’s underwriters have agreed to purchase 1,785,800 common shares at $4.48 CAD per share. The proceeds will be used on exploration expenses, development expenses, and more. The company also recently extended the mineralization at its Bermingham Northeast Deep zone location.
Great Panther Mining Limited
The final company on this list of silver stocks is Great Panther Mining Limited. Great Panther is a mining and exploration company based out of Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. These mines include the Tucano gold mine in Brazil, two silver mines in Mexico, among others. Let’s check out what the recent performance of Great Panther Mining is, and its recent updates or advancements.
[Read More] Top Silver Stocks To Watch Throughout 2021
GPL stock price is at $0.88 a share on average as of February 9th, 2021. Investors are waiting to see if GPL stock could potentially touch above $1 a share as it did a few months back. Just 13 days ago the company announced that it achieved its 2020 production guidance. This was with the company achieving more than 150,000 gold equivalent ounces last year.
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