5 Silver Miners to Watch as Demand for the Precious Metal Soars

    Author Ken DarePosted on Categories MiningTags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

    Escalating demand for silver continues to be a major theme of early 2022.

    Silver is needed for a variety of industrial purposes, including for batteries, solar panels, cars, and more, and this is increasing demand for the precious metal.

    At the same time, fears of a global recession – which are being driven by such factors as the Ukraine War, China COVID-19 lockdowns, Russia sanctions, interest rate hikes and more
    – are also sending investors to safe-haven investments like gold and silver.

    Safe Haven Investing

    One of the big advantages of investing in precious metals like gold and silver is that they offer a safe haven against economic uncertainty.

    While the US dollar and other “fiat money” lose value due to central banks printing more of them, silver and gold hold their value. That’s because silver and gold are scarce resources and can’t be “printed” so the marketplace determines their value, not the central banks.

    In times of trouble, fiat money becomes worthless while gold and silver maintain and often increase in value. Now here is the difference between gold and silver – gold is good for protecting large sums of wealth because a small amount of gold is worth a lot in trade.

    On the other hand, silver is good for funding more common everyday transactions. In fact, up until recently, that’s exactly how many transactions were completed – silver for groceries, silver for a service, silver for food and drink.

    One of the best ways today to tap into the increasing demand for silver is through silver mining companies.

    Here Are Five Miners to Keep an Eye
    on as the Year Continues:

    • Sumitomo ADR (OTCMKTS: SSUMY) – Price 15.70 (USD), Market Cap: 2.57T (JPY)
    • Pan American Silver Corp. (NASDAQ: PAAS) – Price 24.63 (USD), Market Cap: 5.17B
    • Eloro Resources Ltd (OTCMKTS: ELRRF) – Price 3.29 (USD), Market Cap: 268.52M (CAD)
    • Santacruz Silver Mining Ltd (OTCMKTS: SZSMF) – Price 0.30 (USD), Market Cap: 130.87M (CAD)
    • Andean Precious Metals Corp (OTCMKTS: ANPMF) – Price: 0.97 (USD), Market Cap: 192.10M (CAD)

     

    Photo by Dominik Vanyi on Unsplash