In recent months, the market for silver stocks has been fairly interesting to follow. During the last year and a half, silver assets have skyrocketed in price due to the pandemic. Many silver assets saw bigger percentage returns than gold stocks. This attracted a large number of new investors to the metal who had previously passed it up. Another semi-recent occurrence also attracted a large number of new investors to silver. You’ve probably heard about the GameStop scenario, in which Reddit traders artificially inflated the stock’s price. This is something that has occurred multiple times with silver stocks as well.
Right present, the biggest factor pushing the price of this metal is the ongoing epidemic. When incidences of COVID-19 began to decline as a result of vaccines, things began to look bleak for mining stocks. Nobody knows what will happen in the United States now that the Delta variant has been rampant in multiple locations around the world.
As a result of the increased volatility, some investors have returned to silver stocks. If the government issues additional stimulus or the stock market crashes, mining equities are likely to benefit. Silver stocks were also boosted after news broke that Reddit traders were pushing the metal’s price higher at the start of 2021. This drew a lot more attention to silver equities and, as a result, attracted a lot more investors. Keeping this information in mind, which silver stocks will be on your watchlist as October continues?Top Silver Stocks To Watch
- Pan American Silver Corp. (NASDAQ: PAAS)
- Endeavour Silver Corp. (NYSE: EXK)
- Hecla Mining Company (NYSE: HL)
Pan American Silver Corp. is a mining company that discovers, develops, extracts, refines, and reclaims silver from various mines. These mines are located in Canada, Mexico, Peru, Argentina, and Bolivia, and are operated by the business. Gold, zinc, lead, and copper are also sold by Pan American. Pan American has a stake in a number of mines, all of which contribute to its bottom line.
The corporation released its second-quarter financial results for 2021 on August 10th. During the quarter, the company produced 142.3 ounces of gold consolidated. In 2021, it earned $382.1 million in revenue. These results were considered to be positive for Pan American Silver Corp. The company now expects its cash flows to further improve in the second half of 2021.
Now we will find out if the company’s cash flows have improved, as it will soon be reporting its third-quarter 2021 unaudited results. The release of these results will take place on November 9th. Pan American Silver will host an accompanying conference call and webcast on November 10th. It will be interesting to see what the company reports, as it could impact its stock price. For now, is PAAS going to be on your list of silver stocks to watch?Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a silver stock that has recently seen a price increase. This business acquires, explores, and develops land. Endeavour’s mineral characteristics are being processed, refined, and reclaimed. The majority of Endeavour’s key assets are in Mexico and Chile. Endeavour’s mines are mostly used to seek for silver and gold.
Endeavour reported new production numbers on October 7th, 2021. The company reported 1,305,399 silver ounces and 10.541 gold ounces in the third quarter of 2021. This means that its total silver equivalent production was 2.1 million oz at an 80:1 silver:gold ratio, totaling 6.1 million AgEq for the 9 months ended September 30th. Currently, its silver equivalent production at each mine is on track to meet or improve on its 2021 production plans.
The CEO of Endeavour, Dan Dickson said, “Our 2021 business plan shows strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine. This reaffirms an important year of investment into our people and culture programs to ensure the long-term sustainability of our operations.” On October 22nd, EXK stock price went up by 2.46% in the market. Its volume is also nearly double its market average. With this new info to note, will EXK be on your silver stock watchlist?Hecla Mining Company (NYSE: HL)
Hecla Mining Company is a silver stock that went up 2.64% on the trading day of October 22nd. This company has an interest in base and precious metal properties all over the world. The company engages in the acquisition, development, production, and discovery at these properties. It offers silver and gold bullion bars, lead, zinc, and bulk concentrated. It has a 100% interest in the Greens Creek mine in Alaska, and the Lucky Friday mine in Idaho, as well as many others.
On October 12th, the company reported its preliminary production results for the third quarter of 2021. During this period, its silver production decreased to 2.7 million ounces because of lower grades at its Greens Creek mine due to sequencing. This was partially offset by its positive Lucky Friday production. Hecla’s total gold production was in line with last year, at 42,206 ounces.
The President and CEO of the company, Phillips S. Baker Jr. said, “Greens Creek had a good quarter but was down compared to an exceptional 2020 third quarter. The mine experienced lower grades due to the mine sequence, which was driven by manpower challenges that are being addressed through schedule changes and other means.” On October 22nd, HL stock’s volume is at about 7.7 million compared to a market average of 6.2 million. With this to note, will HL stock make it on to your silver list this month?Best Silver Stocks To Buy?
Choosing the top silver stocks to invest in can be a difficult task. Developing an investment strategy can assist to mitigate many of the risks. This might be as basic as checking the company’s or industry’s recent news. Analyzing what’s going on in the world can also be beneficial, as everything from job reports to government stimulus has a significant impact on mining stocks. With all of this in mind, which silver stocks will you add to your list this month?