Which silver stocks are performing well this month?
There are plenty of reasons that silver stocks are trending in the market at the moment. Last year, silver stocks received an unexpected boost after the pandemic started. The continuing pandemic is the primary thing that is driving the price of this metal right now. Things started looking worse for mining stocks when cases of COVID-19 were dropping because of the vaccines. Now with the Delta variant, nobody knows what is going to happen in the U.S.
This has created a level of volatility that has brought some investors back to silver stocks. If more stimulus is issued or the stock market crashes, it is likely that mining stocks will actually benefit from it. Silver stocks also received a boost after mainstream media reported that Reddit traders were boosting the metal upwards in price at the start of 2021. This brought a lot more attention to silver stocks, and thus more investors.
So why invest in silver stocks? Silver is an asset people can hold just like gold, rather than money. When the metal is being used by industrial companies more, the metal tends to perform better. Fears of inflation are also impacting this sector right now, and nobody knows what will end up happening regarding that. So clearly, there is a lot to think about if you are potentially going to invest in silver stocks. Some create an investment plan to decide which tickers they are going to purchase. With all of this in mind, let’s look at three silver stocks to watch right now.
Top Silver Stocks To Watch
- Pan American Silver Corp. (NASDAQ: PAAS)
- First Majestic Silver Corp. (NYSE: AG)
- Endeavour Silver Corp. (NYSE: EXK)
Pan American Silver Corp. (NASDAQ: PAAS)
Pan American Silver Corp. is a mining stock that explores, develops, extracts, processes, refines, and reclaims at various mines. The company operates these mines in Canada, Mexico, Peru, Argentina, and Bolivia. Pan American also sells gold, zinc, lead, and copper as well. Pan American has an interest in many mines that all contribute to its revenue.
On August 10th, the company reported its second-quarter financial results for 2021. The company reported consolidated gold production of 142.3 ounces during the quarter. It also reported revenue of $382.1 million in 2021.
President and CEO Michael Steinmann said, “We expect cash flows to further improve in the second half of the year, with the anticipated rise in throughput rates at La Colorada along with the normalization of inventory levels that were built up during the first half of 2021. Based on our strong financial position and our expectation for improving free cash flow over the remainder of the year, we are increasing the quarterly dividend to $0.10 per common share.” With a lot of new info to consider, will PAAS make your list of silver stocks to watch?
First Majestic Silver Corp. (NYSE: AG)
First Majestic Silver Corp. is a mining company that primarily focuses on acquisition of land, exploration, development, and production of mineral assets. The company’s biggest projects include silver production in Mexico. Currently, First Majestic has 100% interest in the San Simas mine, Santa Elena mine, and holds interest a variety of other land too.
On August 16th, First Majestic reported its second quarter financial results for 2021. The company’s revenue achieved a new record, at $154.1 million. Its average realized silver price per ounce increased quarter over quarter as well.
President and CEO Keith Neumeyer said, “As a result of the higher revenues, our quarterly dividend increased by approximately 33% when compared to the prior quarterly payment. The mining units generated $29.4 million in mine operating earnings due to strong production and higher realized metal prices.” With this in mind, is AG stock a contender for your silver watchlist?
Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a silver stock that just went up in the market. This company acquires land, explores it, and develops it. Endeavour works on the processing, refining, and reclamation of its mineral properties. Most of Endeavour’s primary assets are located in both Mexico and Chile. Endeavour for the most part only searches for silver and gold at its mines.
On August 10th, Endeavour reported its second-quarter financial results for 2021. The CEO of the company, Dan Dickson said, “From a financial standpoint, our Q2 performance was stronger than the respective period last year, as revenue, cash flow and earnings were all higher. However, our operating costs are clearly not where we want them to be. We are working to optimize our operating cost profile in the second half of 2021.”
Endeavour’s metal production grew 80% during the quarter, and its gold production grew 92%. These numbers were in line with Endeavour’s guidance for the year. Its net revenue in the second quarter was up 136% to $47.7 million. On August 24th, EXK stock is up 0.8$ in the market. With all of this in mind, is EXK going to make your list of silver stocks to watch in August?
Top Silver Stocks To Buy Right Now?
Deciding which silver stocks are the best to buy can be a difficult decision. Developing an investment plan can help mitigate a lot of the inherent risks. This can be as simple as looking at the latest news for the company or the sector. Analyzing what’s going on in the world can be very helpful too, as anything from jobs reports to government stimulus has a large impact in the world of mining stocks. Keeping this in mind, which silver stocks are you adding to your watchlist before September 2021 arrives?
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