The market for silver stocks has been quite an interesting one to watch in the market in recent times. The pandemic caused silver assets to skyrocket in price throughout the last year and a half. The percentage gains for many silver assets were higher than gold stocks. This brought a lot of new investors to the metal that may have overlooked it before. One other recent event also brought a lot of new people to silver investing. You have certainly heard of the GameStop situation where Reddit traders boosted the price of the stock.
Well in early February the same thing happened to silver prices as a result of retail traders according to the mainstream media. But Reddit traders quickly stated that it was not their doing. This caused the price of the metal to pull back. What this did do, was attract a lot of new eyes and investors to silver related assets. The price of silver has been able to remain relatively stable at the moment.
So what else is affecting silver prices? Jobless reports often affect the price of silver and gold. It will be interesting to see the effect that unemployment and the economy has on the metal in the future. There are many great silver stocks to watch at the moment despite the volatility in the market. Let’s take a look at four silver stocks that show market potential right now.Top Silver Stocks To Watch
- First Majestic Silver Corp. (NYSE: AG)
- Fortuna Silver Mines Inc. (NYSE: FSM)
- Endeavour Silver Corp. (NYSE: EXK)
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 list of silver stocks to watch?Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines Inc. is a mining corporation with a focus on exploration, extraction, and processing of precious metals. It actively explores for gold, silver, zinc, and lead. Its main properties include the Caylloma and San Jose mines, as well as the Lindero gold project in Argentina.
On June 28th, Fortuna and Roxgold Inc. announced a business combination. President and CEO of Fortuna Jorge A. Ganoza said, “The successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project. The company will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest growing precious metals producing regions in the world.”
On September 20th, the company announced changes in its management team. David Volkert retired as the VP of Exploration in Latin America, which goes into effect on September 30th. Other than this, the company has not released a large amount of recent updates. So now it will be interesting to see where FSM stock goes from here. Will you add FSM to your silver stock 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 at 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.
Back in August, the company announced its second-quarter financial results. 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. Now the company has completed the acquisition of the Bruner Gold Project in Nye County, Nevada. With this in mind, will you add EXK to your mining stock list?Silver Stocks To Watch
There are plenty of silver stocks to watch in the market in 2021. Some think that there is not an opportunity to invest in silver stocks at the moment, but there are still many companies with potential in the market.