Could These Silver Stocks Perform Well This Month?

The silver stock sector has been quite a stimulating one to watch in recent times. All of the recent momentum for silver stems back to March 2020. This was when silver prices started the biggest rally they had ever seen. Silver was able to reach a new record high per ounce in the market as a result of this. Silver continued this rally throughout 2020, and much of its momentum has carried through 2021.

But that then begs the question, what is impacting silver stocks in March 2021? Well one occurrence that happened about a month ago must be discussed first. Dozens of media outlets reported that Reddit traders were causing silver to increase in market value. This is just about around the time of the GameStop market fiasco. This caused silver stocks to gain a ton of value overnight, which it then lost one day later.

But the metal was actually able to hold on to some of the gains, despite the loss that was also experienced. One effect this had on silver stocks in the long term, is the publicity that the metal gained during this short lived period of time. Many investors who didn’t previously consider silver for their portfolio gave it a chance.

So that brings us to March 2021, where silver is being impacted by the pandemic and industrial demand. Vaccines are causing COVID cases to rapidly decline which hurts the metal. At the same time, as reopening continues in the industrial scene, silver is needed more and more. This is what has held silver prices above $25 per ounce for a while now. Now let’s take a look at four silver stocks that could potentially be positive performers in 2021.

Top Silver Stocks To Buy Or Sell

  1. Fortuna Silver Mines Inc. (NYSE: FSM)
  2. Hecla Mining Company (NYSE: HL)
  3. Endeavour Silver Corp. (NYSE: EXK)
  4. Coeur Mining Inc. (NYSE: CDE)

Fortuna Silver Mines Inc.

mining stocks to watch Fortuna Silver Mines Inc. (FSM)

The first silver stock to watch on this list is Fortuna Silver Mines Inc. Fortuna is a silver mining company that owns two mines located in both Peru and Mexico, as well as a few others. The company additionally purchased the Goldrock Mines for $129 million CAD back in 2016, but they are yet to open. FSM stock price has been able to go up in recent times due to positive reports and growing silver demand. Let’s take a look at the company’s most recent market advancements as traders continue through March 2021 looking for silver stocks to watch.

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The most recent update for Fortuna Silver Mines is coming very soon. On February 25th, 2021 Fortuna announced that it will release its fourth quarter and full year 2020 financial results. This will take place at 12pm eastern time on March 10th, 2021. This is likely when the next movement, whether up or down, can be expected from FSM stock. The President and CEO, Jorge A. Ganoza will be hosting this call. Now we wait to see what Fortuna has in store for these reports, after many positive quarterly reports throughout 2020.

Hecla Mining Company

The second silver stock to watch is Hecla Mining Company. Hecla Mining Company is a corporation that focuses on discovering, acquiring land, developing the land, and producing a variety of precious metals and base metals. It primarily offers unrefined gold and silver bullion bars, lead, zinc, and more. Hecla owns the Greens Creek Mine, Lucky Friday mine, and the Casa Berardi mine among others. So what has Hecla Mining Company been up to in recent times in the market?

Hecla’s latest update was released on February 18th, 2021. This is when Hecla reported its fourth quarter and full year 2020 results. This is being seen a lot at the moment in the silver sector as earnings season continues on in March 2021. The company announced that its silver production rose 7%, while its gold production fell 23% year over year. 2019 was its highest annual gold production, so it was a tough one for the corporation to beat this year. Despite COVID, the company achieved its third highest silver and gold reserves in its entire history.

Endeavour Silver Corp.

endeavour silver stocks to watch

Now let’s talk about Endeavour Silver Corp. Endeavour is a silver company that’s primary focus is acquiring, exploring, and developing its properties. Additionally, Endeavour will extract, process, and refine silver as well. Endeavour actively does all of this at its two mines in Chile and Mexico. Let’s take a look at the latest that has come from Endeavour and EXK stock.

[Read More] How Are Gold Stocks Impacted By Inflation?

Like many others, this silver company released its fourth quarter and full year 2020 earnings. Bradford Cooke, the CEO of Endeavour stated, “Notwithstanding a government mandated two-month suspension of mining operations due to the COVID pandemic, we delivered higher production and lower costs at each of our three operating mines in 2020.” Endeavour’s gross sales rose 81% in the fourth quarter compared to 2019. Its net income was $19.9 million in comparison to a net loss of $17.9 million back in 2019.

Coeur Mining Inc.

The final company on this list of silver stocks is Coeur Mining Inc. Coeur Mining is a mining company that explores, develops, and produces gold, silver, zinc, and lead properties. It actively holds interest in the Palmarejo mine, Rochester mine, Kensington mine, Wharf mine, and many more all over North America. The company holds nearly 250,000 net acres of total land. So how has Coeur Mining performed in March 2021 so far?

Like the other companies on this list, Coeur recently participated in earnings season. The company announced its fourth quarter and full-year 2020 results on February 17th, 2021. The company’s revenue increased by 10% year over year in 2020. Its operating cash flow went up 62% in the year-long period as well. Finally, its adjusted EBITDA rose 51% by the end of 2020. Coeur additionally achieved its consolidated and site-level production guidance for gold and silver in 2020.

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