These Silver Stocks Are Performing Well
The market for silver stocks has had an interesting history in recent times. Such as when Reddit traders caused a huge uptick for the metal in early February. This was the alleged story reported by many mainstream media sources when the price of silver went up drastically. But Reddit traders denied this, and the next day silver stocks fell down. The metal was able to hold onto some gains though, by about $2 of its price. Another thing that often impacts the price of silver stocks is jobless reports. This is when the United States Labor Department releases reports of unemployment by the American people. Recently these jobless reports will sometimes fall a little bit and then go back up.
Despite the amount of COVID cases falling in the United States, unemployment is still extremely strong at the moment. This means that silver may be able to hold on to its momentum for a lot longer. Silver will often rise when the economy is not in a good place. This was proven in 2020 when the metal experienced the largest rally in its history. At the moment, silver is still holding at its key price point. Some think that the opportunity may have been missed to invest in silver stocks. But this is not necessarily true. There are plenty of silver stocks that are still performing extremely well in the market. Industrial demand has increased for silver which is helping the metal push further upwards as well. That is what has lead to silver being in such a good position now. Let’s take a look at four silver stocks that have been high performers in the market recently. These silver stocks could potentially uptick in the future if good reports come out.
Top Silver Stocks To Watch
- Hecla Mining Company (NYSE: HL)
- Pan American Silver Corp. (NASDAQ: PAAS)
- Coeur Mining Inc. (NYSE: CDE)
- Silvercorp Metals Inc. (NYSE: SVM)
Hecla Mining Company
The first silver stock to watch on this list is Hecla Mining Company. Hecla is a mining company that will acquire land, discover metal properties, and produce. The company produces precious metals and base metal properties. Its operations take place both internationally and in the United States. Its primary products are lead, zinc, and bulk concentrates. But in addition to this, it sells carbon materials to smelters, metal traders, and processors. Hecla sells unrefined gold and silver bullion bars as well. Let’s take a dive into its recent advancements and progress in the market.
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The company’s most recent update was when it released its fourth quarter and full year 2020 results. This took place on February 18th, and stated that Hecla reported record annual revenue. Phillip S. Baker Jr, the President and CEO of Hecla stated, “The COVID pandemic provided significant challenges to Hecla and the mining industry; however, due to our people and the jurisdictions we operate in, Hecla exceeded the high end of our pre-COVID silver guidance by 1.4 million ounces.” This is the latest update that has come from the silver corporation.
Pan American Silver Corp.
Now let’s talk about Pan American Silver Corp. Pan American is a mining business that discovers and progresses mineral properties in Canada and Mexico. Pan American processes, extracts, reclaims, and refine precious metals. It searches for metals such as silver, gold, zinc, lead, and copper. So how did Pan American Silver perform throughout February 2021, and what does its future look like?
The company released its audited financial results for 2020 and the fourth quarter of it on February 17th, 2021. It was here in which Pan American Silver reported its highest record operating cash flow of all time at $462.3 million. Micheal Steinmann, The CEO of the company said, “Our operating teams helped deliver these strong results despite the exceptional challenges presented by the COVID-19 pandemic. We continue to support our workforce and communities during this difficult time, and look forward to the deployment of vaccination programs during 2021.” PAAS stock is at $35 a share on average as of February 25th, 2021. That is the latest from Pan American Silver Corp.
Coeur Mining Inc.
Next up on this silver stock list is Coeur Mining Inc. 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, and many additional properties. 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 held by the company are located in Mexico, Alaska, Nevada, South Dakota, and Canada. Let’s check out its recent progress.[Read More] Are These Silver Stocks Pulling Ahead? 4 To Watch
The company’s most recent significant update was its fourth quarter and full year 2020 results. This report was released on February 17th, Coeur announced revenue of $228.3 million for the fourth quarter alone. Its revenue, operating cash flow, and adjusted EBITDA all increased in 2020. The President and CEO Mitchell J. Krebs said, “Our strong culture allowed us to effectively navigate COVID-19 while also achieving several important strategic objectives during the year.” That is the most recent that was heard from Coeur Mining.
Silvercorp Metals Inc.
Last up on this list of silver stocks is Silvercorp Metals Inc. Silvercorp acquires, explores, and mines at different mineral properties. All of its assets are located in China. Its exploration materials in target are silver, gold, lead, and zinc. The company owns interest in many projects such as the Ying project in Henan Province, China. Let’s dive right into its recent advancements and market performance.
Its latest update comes from February 9th. Silvercorp announced that it has received the mining license renewal and extension for 20 years. This is for the TLP, LME, and LMW mines in the Ying Mining District. It also recently released positive financial reports, including a 20% year over year increase of 20%. That is the latest that has come from Silvercorp Metals Inc.
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