Looking to invest in silver stocks? Here are 3 to look out for
Silver stocks have had their fair share of ups and downs in 2021. This momentum began with the pandemic starting back in 2020. The pandemic caused silver stock prices to skyrocket, many to new record highs. When the dollar is losing value, investors often will move towards silver stocks as an alternative to these assets.
The pandemic has slowed down in the United States in many other places in the world. Generally, silver stocks will go up when the metal is being used more in the industrial and retail niches. Silver is also used as an asset for people to hold instead of money, similar to gold. Because silver is driven by industrial demand, if the economy recovers around the world then silver could outperform itself. Silver production slowed or entirely stopped in some places back in March. Now, those mining companies behind the production are trying to recover.
It seems that at this volatile time 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. Inflation fears are currently impacting the silver and gold markets right now. This in turn has impacted silver stocks themselves. Nobody knows which direction mining stocks could go at this point. But there are still a lot of companies making multiple percentage gains in a trading day. So with all of that in mind, let’s look at three silver stocks to keep your eye on.
Top Silver Stocks To Watch
- Hecla Mining Company (NYSE: HL)
- Endeavour Silver Corp. (NYSE: EXK)
- Fortuna Silver Mines Inc. (NYSE: FSM)
Hecla Mining Company (NYSE: HL)
Hecla Mining is a silver stock that engages in the discovery, acquisition, development, and production of precious and base metal properties. It operates these primarily out of North America. It offers lead, zinc, silver and gold bullion bars, and more. The company’s mining operations have proven to be very successful for the company in the last year.
The company announced on June 24th that Luke Russell, the VP of External Affairs will retire on August 2nd. The President and CEO Phillips S. Baker Jr. said, “I want to thank Luke for the past eight years for making our impact on the environment small but our contributions to communities large.”
Apart from this, the company has not released many recent updates. It is more likely that HL stock price is moving as a result of material prices. So when silver or gold go up or down in price, HL stock frequently will follow suit. Hecla released a CEO webcast on July 1st, and that was its last update. So will you add HL stock to your silver watchlist today?
Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a precious metal mining stock. The company will acquire land, explore it, develop it, and then extract, process, refine, and reclaim minerals. Its silver and gold deposits are a large part of its business. It owns mines in Mexico, Chile, and more.
On June 8th the company announced that its drilling has intersected high-grade silver and gold mineralization in multiple veins at the Terronera Project in Jalisco, Mexico. The VP of Exploration Luis Castro said, “These results support our view that the Terronera property continues to have significant potential to discover new mineralized zones and grow the mineral resources in multiple veins proximal to the already defined reserves and resources in the main Terronera vein. Over the past couple of years, our drill programs have focused solely on delineating reserves and resources within the main Terronera vein to increase the level of confidence for the Feasibility Study.” This is the latest update from Endeavour. The company’s stock price often moves with the price of silver itself. Will EXK make your list of silver stocks to watch?
Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines Inc. is a precious silver mining stock from Canada. But most of its operations take place in Peru, Mexico, and Argentina. The 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.
On July 2nd, the company announced that it has completed a business combination with Roxgold Inc. The President and CEO of Fortuna, Jorge A. Ganoza said, “The successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project. The company will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest-growing precious metals producing regions in the world.” FSM stock is now higher than before this announcement. Will this company make it on to your watchlist?
Silver Stocks In 2021
The silver market is doing better amid increased industrial use. Industrial companies are able to fully operate now that the pandemic has calmed down in many places. The world is still in a volatile state right now despite this. So which silver stocks will make your watchlist?
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