Silver stocks are pulling ahead today; 3 to keep your eyes on
Silver stocks have been in an interesting position in 2021. One thing that affected silver stocks early into the year were retail traders. The GME stock hype had just started to die down after the price of it crashed significantly. Then mainstream media reported that retail investors on Reddit and other social media platforms have shifted their focus to silver. This caused silver overnight to uptick about $5 in price total. Shortly after, silver prices and silver stocks fell back down. But the metal was still able to hold some of its gains.
But this was in early 2021, so where is the metal at now? This early 2021 rise in silver prices brought a lot more attention to the sector. Many investors will just focus on gold stocks when it comes to metals. This opened the eyes of many investors to the potential that silver stocks have in the market.
Silver stocks have had their fair share of ups and downs this year. But now in August 2021, there is a lot of silver stocks that are trending in the market. So how do you know which silver stocks to invest in? It is important to look at the latest news when investing in this sector. This can be anything from sector news to company news, and even world news. Let’s take a look at three silver stocks that are trending in the market right now.
Top Silver Stocks To Watch
- SilverCrest Metals Inc. (NYSE: SILV)
- MAG Silver Corp. (NYSE: MAG)
- First Majestic Silver Corp. (NYSE: AG)
SilverCrest Metals Inc. (NYSE: SILV)
SilverCrest Metals Inc. is a silver company that acquires, explores for, and develops precious metal properties. These properties owned by the company are in Mexico. This mining stock has benefitted from the rising metal prices throughout 2020. Its main property is the Las Chispas project with 28 concessions totally around 1400 hectares in Sonora, Mexico.
On August 10th, the company provided an update on the construction of Las Chispas. COO Pierre Beaudoin said, “We are extremely proud of our team and contractors who have worked together to safely set the construction on a positive path with numerous critical construction milestones completed in H1, 2021. We are very pleased with the progress to date which includes on time and on budget construction since the formal start on February 1, 2021.” Now the company will report its financial results when the market closes on August 11th. So will this company enter your list of silver stocks to watch?
MAG Silver Corp. (NYSE: MAG)
MAG Silver Corp is a mining company that obtains land, explores, and progresses mineral properties. MAG’s key goals are finding silver, gold, lead, and zinc deposits. MAG has a 44% interest in the Juanicipio project in Mexico.
On August 5th, the company reported the drill results from its Juanicipio project. George Paspalas, the CEO and President of the company said, “As we begin ramping up into full scale production it is a rare luxury to be firming up and extending the deep mineralization that has high potential to add tonnes, grade and years to our mine life”
Now MAG Silver will report its financial results on August 11th after the market closes. Ahead of this announcement, MAG stock has increased by more than 2% in the market. Now it will be interesting to see how its financial results impact the company. For now, is this a contender for your silver stock watchlist?
First Majestic Silver Corp. (NYSE: AG)
First Majestic Silver Corp. is a company that acquires, explores for, develops, and produces products at mineral properties. 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 13th, First Majestic reported its second-quarter production results for 2021. The company produced 6.4 million ounces of silver in the quarter which was a 13% quarter-over-quarter increase. The company also produced 46,545 ounces of gold in the quarter, a 95% increase quarter over quarter.
President and CEO Keith Neumeyer said, “The acquisition of Jerritt Canyon not only gave us a new quarterly record in gold production, but it represents the Company’s first major investment outside of Mexico. The overall integration process of this new mine is going well and has included several site management changes designed to grow this important operation to production levels not seen for over 15 years.” With this in mind, will AG make your list of silver stocks to watch?
Top Silver Stocks To Buy?
There are many silver stocks that are trending in the market at the moment. The market is very volatile for these assets despite the positives they have going for them. There are also many fears of inflation in the market at the moment. That is why it is important to conduct proper research when investing in silver stocks. For now, which companies will make your list of silver stocks to watch in August?
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