Do these silver stocks have potential right now?
In the last year and a half,
silver stocks
have been very popular in the market. This momentum started at the top of 2020, when the pandemic took over the world. This caused silver to reach a new record high price last year. As a result, many silver stocks followed suit. Then, retail investors shifted their focus to silver stocks shortly after the GameStop craze took place. This caused silver stocks to receive a brief uptick and increase in popularity.
Now it’s 2021, so very different things are affecting this mining sector. Currently, there are a lot of inflation fears in the stock market. The pandemic is also going strong in many places all around the world as well. Things have calmed down in the United States, but other countries are still dealing with the effects. This can affect the supply of metals like silver in the long term.
Silver is a popular commodity as it is both a precious metal and used industrially. Since many industrial companies are able to operate to a full capacity right now, it is helping the metal’s production numbers. Many silver stocks follow the Global X Silver Miners ETF (
NYSE: SIL
). So if this ETF goes up or down, it is common for many silver stocks to follow suit. With all of this information in mind, let’s look at three silver stocks that are performing well in the market right now.
Top Silver Stocks To Watch
-
MAG Silver Corp. (
NYSE: MAG
) -
Endeavour Silver Corp. (
NYSE: EXK
) -
Avino Silver & Gold Mines Ltd. (
NYSE: ASM
)
MAG Silver Corp. (NYSE: MAG)
MAG Silver Corp. is a
mining stock
that is performing well at the moment. MAG Silver explores and develops various silver mining properties. The company has a 44% interest in the Juanicipio project located in Mexico. This is a silver stock that has been mentioned frequently on this site before due to its positive momentum in the market.
Read More
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Top Mining Stocks To Watch Before August
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On July 28
th
, the company reported its second-quarter Juanicipio underground mine production numbers. The company’s President and CEO George Paspalas said, “The metallurgical results from the ongoing processing of mineralized development materials through the Fresnillo plant continue to de-risk the commissioning and ramp-up stage of the Juanicipio plant later this year, as well as providing a nice side-stream cash injection.”
Just 5 days ago, MAG stock was at $18.15 per share on average. Now on July 29
th
, MAG stock has reached more than $20.30 per share on average. This is following the positive mine production numbers from the day before. With this new information in mind, will MAG make your
list of silver stocks to watch
?
Endeavour Silver Corp. (NYSE: EXK)
Endeavour Silver Corp. is a
mining penny stock
that just increased in value. In addition to silver, Endeavour also searches for gold. This company acquires, explores, and develops various mining properties. Endeavour’s properties are located in both Chile and Mexico. The company has interest in the GuanacevA mine, El Compas mine, among many others.
On July 19
th
, the company signed an agreement to acquire the Bruner Gold Project located in Nye County, Nevada. The company’s CEO Dan Dickson said, “We are pleased to add an advanced stage precious metals exploration property to our project pipeline. Bruner represents a good start on building an attractive gold-silver portfolio in Nevada and should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth.” EXK stock is up 4% on the day of July 29
th
, just 10 days after the announcement. With this in mind, will you add EXK to your
silver stock watchlist
?
Avino Silver & Gold Mines Ltd. (NYSE: ASM)
Avino Silver & Gold Mines Ltd. is a mining penny stock that acquires, explores, mines, and advances various mineral properties. The company’s properties are located in Mexico and Canada. It actively owns 42 mineral claims and leases four mineral claims. Avino also has 24 exploitation concessions covering 1200+ hectares of land.
[Read More]
3 Hot Mining Stocks To Watch This Week
On July 15
th
, Avino announced the initial drill results from its Phase 1 drill campaign at La Malinche. President and CEO David Wolfin said, “The results of this initial drill program are encouraging as we had some significant grades hit at each location. We will integrate this information into our geological model to improve our understanding as we continue to look for economic deposits similar to our San Gonzalo mine while at the same time looking to add M&I resources at our Avino mine. We have been testing targeting a few holes at a time to determine potential areas to further focus on, as well as building a database of geological information.”
ASM stock has gone from $1.01 per share to $1.09 per share in the last 5 days. On July 29
th
, ASM stock increased by 3.8% in the market. As a silver penny stock, ASM can often be more volatile than a traditional one. Penny stocks are inherently riskier due to their low cost. Keeping this in mind, will you add ASM stock to your silver watchlist?
Top Silver Stocks To Buy?
Developing an investment plan can be very useful when investing in silver stocks. This can be as simple as looking at the latest news. But what type of news is the most useful to this sector? Well, sector news, company news, and world news can all have an effect on these mining stocks. Noting all of this information, which silver stocks will make your watchlist before August?