Looking for the best silver stocks to watch? Check these three out
Silver stocks are sometimes disregarded by investors who are more interested in gold stocks. Traders appear to assume that the precious metal offers more profit potential. However, this suggests that investors are overlooking alternative mining stocks. In the last year and a half, silver stocks have done exceptionally well. The price of silver stocks tends to grow when silver is used more industrially.
Silver, like gold, is an asset that individuals can own instead of money. If the economy improves further in 2021, silver may do much better than it does now. When considering an investment, it is critical to consider global news, sector news, volume, and other factors. Investing blindly could lead to a decrease in the value of your portfolio. While luck can play a role, conducting research before to selecting a silver stock is the best alternative.
In 2021, there is a slew of fantastic silver stocks to keep an eye on. There are still several high-performing silver stocks this year, despite not reaching the market highs of last year. These mining equities are currently experiencing a period of uncertainty due to inflation fears. As a result, some investors are avoiding the sector for fear of inflation. Rest assured, several silver stocks are currently rising in value. Let’s take a look at three that are currently gaining traction in the market.
Top Silver Stocks To Watch
- First Majestic Silver Corp. (NYSE: AG)
- Wheaton Precious Metals Corp. (NYSE: WPM)
- Coeur Mining Inc. (NYSE: CDE)
First Majestic Silver Corp. (NYSE: AG)
First Majestic Silver Corp. is a mining corporation specializing in property acquisition, mineral exploration, development, and production. Silver production in Mexico is one of the company’s largest ventures. First Majestic currently owns 100 percent of the San Simas and Santa Elena mines, as well as a variety of other properties.
On November 4th, the company released its unaudited interim consolidated financial results. These financial results were for the third quarter ended September 30th, 2021. The company generated revenue of $124.6 million which was a 1% decrease year over year. This happened because of its decision to withhold 1.4 million ounces of silver in inventory to maximize future profits.
President and CEO of First Majestic, Keith Neumeyer said, “Our decision to inventory a significant amount of silver during the quarter obviously impacted our third quarter financial results but those additional revenues and cash flows are expected to be realized in the coming quarters as prices improve.” Following this update, AG stock is up over 3% on November 8th. Based on this new info, will AG stock be on your watchlist this month?
Wheaton Precious Metals Corp. (NYSE: WPM)
Wheaton Precious Metals Corp. is a silver stock that just went up 0.78% in the market on November 8th, 2021. This is a company that offers gold, silver, and palladium ores to a variety of customers. The company’s ores are sold all around the world, including in its home country of Canada. Wheaton presently has 24 operating mine agreements and 7 project agreements in the development stage.
On November 4th, Wheaton reported new financial results. The company stated that it had a record $650 million in operating cash flow for the first nine months of 2021. In the third quarter this number was $200 million. It also experienced a record $923 million in revenue during the first nine months of 2021. This has placed Wheaton in a strong financial position now.
Randy Smallwood, President, and CEO of Wheaton said, “Wheaton’s diversified portfolio of high-quality, long-life assets continues to deliver strong results, including record revenue, earnings, and cash flow in the first nine months of 2021. In addition, the Company declared a dividend of $0.15 per common share, a 25% increase relative to the prior year.” Noting this recent progress, will WPM be on your silver stock watchlist right now?
Coeur Mining Inc. (NYSE: CDE)
Coeur Mining Inc., a gold stock, has gained 2.16 percent in the market on November 8th. This is a gold, silver, zinc, and lead mining company that searches for, develops, and produces these metals. Nevada, Alaska, Mexico, Canada, and South Dakota are among the states where it has properties. In total, it has about 200,000 net acres of land.
At the end of October, Coeur reported its third quarter results for 2021. The company announced revenue of $208 million and cash flow from operating activities of $21.8 million. The company’s gold and silver production levels are expected to increase in the fourth quarter and reach its expected guidance range. This is the second consecutive quarterly exploration record for Coeur as well, investing $20 million and drilling 326,500 feet from up to 27 drill rigs at six locations.
President and CEO of Coeur, Mitchell J. Krebs said, “Our third-quarter results reflect our strategy of elevated near-term investment in our balanced platform of North American assets to generate attractive returns and long-term, sustainable free cash flow, from lower cost, longer life precious metals assets”. For the last month, CDE stock has been climbing in the market. Will CDE be on your list of silver stocks to watch right now?
Which Silver Stocks Are The Best?
Choosing the best silver stocks to invest in might be difficult. That is why it is critical to conduct extensive research about the company and industry in which you intend to invest. If you take these crucial measures before investing in a company, you may be able to reduce some of the risk involved. With this in mind, which silver stocks will you be keeping an eye on in November 2021?
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